UEM Land sees good response

PETALING JAYA: UEM Land Sdn Bhd expects the first phase of its 365-acre East Ledang high-end residential property development in south Johor to be sold out in four months. Managing director Wan Abdullah Wan Ibrahim said 50% of the first phase had been sold since the project was launched four weeks ago. “We had very good response from Singaporean and Johorean buyers. “Judging from the response, we expect to launch the second phase in the fourth quarter,” he told a press conference after Paramount Corp Bhd’s wholly owned subsidiary, Janahasil Sdn Bhd, inked a sale and purchase agreement with UEM Land for 10 acres in East Ledang. Wan Abdullah Wan Ibrahim (right) and Datuk Teo Chiang Quan at the press conferenceUnder the agreement, Paramount will purchase the land from UEM Land for RM13.07mil and construct and operate a private school called Sri KDU Smart School. The first phase of the East Ledang development on 40 acres comprises 140 terrace and semi-detached units with a total gross development value (GDV) of RM97mil. The project’s total GDV is about RM1.3bil. Read more

(The Star 26-3-2008)

UEM World net profit surges 382%

PETALING JAYA: UEM World Bhd announced a record RM7bil revenue for the financial year ended Dec 31 (FY07), an increase of 46% compared with RM4.8bil in FY06. Group net profit saw 382% growth to RM939.2mil against RM194.9mil in FY06. According to a company statement, UEM World had set aggressive headline key performance indicators (KPIs) for 2007. Targeted returns for shareholders were exceeded with return on equity for the year at 41% compared with the target of 38% while revenue growth at 46% fell short of the target of 65%. In the statement, chief executive officer Datuk Ahmad Pardas Senin said: “Our 2007 performance is based on excellent contributions from most of our units and will be the platform for further improvements, going forward.” “Sustainability” was the key theme for establishing the group's KPI targets for FY08, which was a revenue growth of 13% and a return on equity of 13%. Read more

UEM World net profit surges 382%

PETALING JAYA: UEM World Bhd announced a record RM7bil revenue for the financial year ended Dec 31 (FY07), an increase of 46% compared with RM4.8bil in FY06. Group net profit saw 382% growth to RM939.2mil against RM194.9mil in FY06. According to a company statement, UEM World had set aggressive headline key performance indicators (KPIs) for 2007. Targeted returns for shareholders were exceeded with return on equity for the year at 41% compared with the target of 38% while revenue growth at 46% fell short of the target of 65%. In the statement, chief executive officer Datuk Ahmad Pardas Senin said: “Our 2007 performance is based on excellent contributions from most of our units and will be the platform for further improvements, going forward.” Read more

(The Star 1-3-2008)

UEM Builders In the black

UEM Builders Bhd ended its 2007 financial year with a net profit of RM157.3 million from a net loss of RM21.9 million the year before, as its infrastructure maintenance and facilities management and toll concession divisions continued to contribute consistent and positive earnings for the group.Revenue grew 36 per cent to RM2.4 billion last year, driven by the local construction sector, namely the electrified double track project from Rawang to Ipoh and PLUS' third lane widening project from Seremban to Ayer Keroh.In a statement, UEM Builders said revenue for 2008 can be expected from the remaining phases of the third lane widening project from Rawang to Tanjong Malim as well the the Penang Bridge widening works.

(New Straits Times 29-2-2008)

UEM Land plans to enter regional market in three years

UEM Land Sdn Bhd aims to have a regional presence by 2011 when it expands its wings offshore to other emerging markets such as Vietnam, Indonesia and India. “With our key development, Nusajaya in Johor, reaching the tipping point by that time, the company will have the capability to venture into new markets to widen its earnings base,” said managing director Wan Abdullah Wan Ibrahim. “Going by our parent company UEM Group Bhd's long list of developments and track record, we have consistently delivered our projects on time and with great quality. “The group has also established an international presence, which the company can leverage on in its offshore aspirations.” Locally, UEM Land is looking at adding new profit centres to achieve geographical diversity in areas of focus, including several opportunities in the Klang Valley, which should be revenue-generating in 2009 if they materialise. Read more>>

(The Star 25-2-2008)

UEM Land to raise RM875m

The company is in the midst of arranging a syndicated term loan and six banks have expressed interest, most of them Malaysians, says its senior general manager of finance. UEM Land Sdn Bhd is looking to raise RM875 million through a five-year syndicated term loan facility to finance its projects at Nusajaya in Johor, its top executive said.The soon-to-be-listed property unit of UEM World Bhd is the master developer of Nusajaya, Malaysia's biggest property project."We're going to the market to seek some funding for working capital requirements," managing director Wan Abdullah Wan Ibrahim told Business Times in an interview. Read more>

(New Straits Times 25-2-2008)

UEM World among most-active counters

PETALING JAYA: UEM World Bhd, which resumed trading yesterday after announcing a major restructuring involving the listing of property arm UEM Land Sdn Bhd, succumbed to profit taking after the morning's gains. One of the most actively-traded counters, UEM World recorded a volume of 42.6 million shares in a relatively weak market. The counter opened at the day's high of RM4.30. However, the positive momentum could not be sustained for long, as investors took profit. The stock shed 32 sen, or 7.77%, to RM3.80. On Friday, UEM World announced that it planned to list UEM Land on Bursa Malaysia and delist itself under a proposed restructuring exercise. Read more

(The Star 19-2-2008)