KUALA LUMPUR (Feb 26): With the slow consumer and property market, Fiamma Holdings Bhd foresees a single-digit revenue growth for its trading and services business for the financial year ending Sept 30, 2018 (FY18), from a flat growth last year.

Speaking at a press conference after its annual general meeting here today, its founder and group managing director Jimmy Lim Choo Hong cited Euromonitor International's statistics and explained that big ticket consumer goods have been seeing a single-digit growth over the past few years.

"We will be focusing more on our in-house brands as it makes up about 90% of our revenue," said Lim, adding that the company is also in discussion to expand more brands in its trading and services segment (consumer goods).

Meanwhile, for its property development segment, the company will be focusing on landed properties in Kota Tinggi and Batu Pahat this year, amidst the slow property market.

Lim noted that Fiamma will be launching about 15 acres or a gross development value (GDV) of RM40 million this year. Currently, the company has an outstanding landbank area of 105 acres with a GDV of RM1.5 billion in Klang Valley and Johor.

"This coming two years, the property market will be slow," said Lim, when asked about the company's plan this year for the property development market.

At the noon break, shares in Fiamma were unchanged at 51 sen for a market capitalisation of RM258.44 million.