By Sharen Kaur
sharen@mediaprima.com.my
Published in NST on June 13, 2013
sharen@mediaprima.com.my
Published in NST on June 13, 2013
ACHIEVING GROWTH TARGET: Firm eyes S. Africa, Australia, India and Indonesia
UEM Sunrise Bhd, formerly UEM Land Holdings Bhd, is making inroads into South Africa, Australia, India and Indonesia to drive its revenue and net profit.
The group is also increasing its investment assets, which now contribute eight per cent to its earnings.
For fiscal 2012, UEM Sunrise recorded revenue growth of 14 per pent to RM1.94 billion, while net profit increased by 49 per cent to RM448.4 million.
The compound annual growth rate for the group's revenue and net profit has been around 40 per cent over the past five years. Sales have grown steadily by 77 per cent annually since 2008, led by developments in Nusajaya in Johor.
"We have growing appetite to increase our numbers... our group is not going to rest on its history. It needs to sustain growth and recurring income. We will look at more geographics, landbanks and recurring income assets.
"To achieve our growth targets, we need to explore other markets. We have identified several areas in Australia and India. Work is in progress," UEM Sunrise managing director and chief executive officer Datuk Wan Abdullah Wan Ibrahim said.
In Indonesia, the group is targeting Jakarta, while in South Africa, it has around 16ha of land in Durban acquired several years ago, he said after the group's shareholders meeting here yesterday.
Wan Abdullah said for overseas jobs, UEM Sunrise will be banking on high-rise developments, townships and integrated projects.
For the Durban land, he said the group may either sell or develop it.
On the name change to UEM Sunrise, its chairman Tan Sri Dr Ahmad Tajuddin Ali said it is to reflect the strength of the UEM and Sunrise brands.
UEM Land bought Sunrise Bhd in 2010 for RM1.39 billion to strengthen its portfolio.
"We needed expertise that Sunrise brings, particularly with our venture in Singapore to assist Khazanah with the two nation's initiatives," he said.
Khazanah and Singapore's Temasek Holdings are developing projects in Marina South and Ophir Rochor, worth over S$11 billion.
The project managers for both the developments include an indirect wholly-owned unit of UEM Sunrise, the real estate arm of Khazanah.
UEM Sunrise Bhd, formerly UEM Land Holdings Bhd, is making inroads into South Africa, Australia, India and Indonesia to drive its revenue and net profit.
The group is also increasing its investment assets, which now contribute eight per cent to its earnings.
For fiscal 2012, UEM Sunrise recorded revenue growth of 14 per pent to RM1.94 billion, while net profit increased by 49 per cent to RM448.4 million.
The compound annual growth rate for the group's revenue and net profit has been around 40 per cent over the past five years. Sales have grown steadily by 77 per cent annually since 2008, led by developments in Nusajaya in Johor.
"To achieve our growth targets, we need to explore other markets. We have identified several areas in Australia and India. Work is in progress," UEM Sunrise managing director and chief executive officer Datuk Wan Abdullah Wan Ibrahim said.
In Indonesia, the group is targeting Jakarta, while in South Africa, it has around 16ha of land in Durban acquired several years ago, he said after the group's shareholders meeting here yesterday.
Wan Abdullah said for overseas jobs, UEM Sunrise will be banking on high-rise developments, townships and integrated projects.
For the Durban land, he said the group may either sell or develop it.
On the name change to UEM Sunrise, its chairman Tan Sri Dr Ahmad Tajuddin Ali said it is to reflect the strength of the UEM and Sunrise brands.
UEM Land bought Sunrise Bhd in 2010 for RM1.39 billion to strengthen its portfolio.
"We needed expertise that Sunrise brings, particularly with our venture in Singapore to assist Khazanah with the two nation's initiatives," he said.
Khazanah and Singapore's Temasek Holdings are developing projects in Marina South and Ophir Rochor, worth over S$11 billion.
The project managers for both the developments include an indirect wholly-owned unit of UEM Sunrise, the real estate arm of Khazanah.
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