Kuala Lumpur, 25 June 2007 --- The year 2006 saw United Malayan Land Bhd (UMLand) performing well with a significant 94% increase in revenue resulting in stronger financial results.

 

 

At the meeting, shareholders also approved the payment of a final dividend of 6.5 sen per share less tax. This, together with a tax exempt interim dividend of 2.5 sen per share brings total gross dividends for financial year 2006 close to 10.0 sen per share, higher than the gross dividends of 7.5 sen per share distributed in financial year 2005. The Company’s dividend payout is in tandem with the Group’s continued improvement in financial performance as well as its belief in sharing the fruits of success with its shareholders.

 

Mr. Anthony Yap, UMLand’s Group Chief Executive Officer at the Annual General Meeting said, “The revenue and profit growth can be attributed to increase in contributions from the Group’s Township Division comprising Seri Alam, Seri Putra and Seri Austin as well as its condominium project Suasana Sentral Loft, located in the transportation hub of KL Sentral. The Group has also entered into three new developments at Jalan Mayang, Bangsar and Persiaran Raja Chulan, earmarked for development of condominiums and service residences. Going forward, the attractive locations and development potential of these niche projects is projected to contribute additional revenue of about RM1 billion to the Group.”

 

Mr. Yap also confirmed that “The Group will remain focused on its two-pronged strategy of enhancing the development and value of its Townships whilst acquiring more Niche projects to expand its revenue base in its continuing efforts to produce stronger financial results. In implementing this strategy, the Group is aggressively pursuing opportunities in niche development projects either through outright acquisitions or by way of strategic alliances that capitalise on the synergies of the partners whilst further solidifying its township base.”

 

The Group looks forward to strong 2007 with a solid Malaysian economic climate and Government initiatives including the RPGT exemptions, the relaxation of FIC regulations and borrowing for foreign purchasers of properties that will benefit the property sector at large. 

 

The significant infrastructure allocation and investment incentives for the Iskandar Development Region (IDR) in Johor under the 9MP will also bring additional benefit to its two townships of Seri Alam and Seri Austin which are strategically located within the IDR. In particular, accessibility to our two townships will be greatly improved with the proposed Southern Link Highway, East West Link Highway and the upgrading of Pasir Gudang Highway.  In addition to the existing Japanese International School and seven national schools in Seri Alam, the development of the new 110-acre MARA college and KL University both to be operational by 2009 will further enhance Seri Alam as an educational hub.  Other facilities in Seri Alam include the newly opened Tesco hypermarket, the first in the state of Johor, the Regency Medical Centre scheduled for opening later this year, the proposed Eastern Johor District Police Headquarters and a proposed sports community complex on a 3.1- acre parcel of land.

 

The Group will leverage on these opportunities and step up the development progress of the townships while positioning itself as a choice developer.

 

In addition, the Group is also embarking on a branding exercise to further enhance its corporate profile to a higher level and reposition its three townships.  

 

The Group’s focus for the year 2007 includes increasing sales and marketing efforts as well as enhancing product planning and development.  This involves delivering market driven products with strict quality control, attractive designs and functional layouts coupled with efficient delivery of these products.