OPUS CONSULTANTS AND JKR SARAWAK TO COLLABORATE ON PAVEMENT RESEARCH AND INNOVATION
OPUS International (M) Berhad (“OPUS Consultants”), the Asset Consultancy arm of UEM Edgenta Berhad (“UEM Edgenta”), today announced its collaboration with Jabatan Kerja Raya Sarawak (“JKR Sarawak”) to drive pavement research and innovation initiatives. A Memorandum of Understanding (“MoU”) to formalise the collaboration was signed between the two sides here today, of which OPUS Consultants will provide Technical Advisory to support JKR Sarawak in their pavement research and development journey.
Under the MoU, both parties will collaborate on the research and development of new asphalt mixes for local conditions in Sarawak, which include setting up of JKR Sarawak’s Research & Development Centre, product development and commercialisation, field trials and performance evaluation, technology and knowledge transfer, as well as facilitate training, among others.
Ir. Dr. Tony Chan, Chief Operating Officer of OPUS Consultants said, “Our collaboration with JKR Sarawak is in line with the company’s efforts to partner with key stakeholders and create positive impact for our businesses within the markets in which we operate in.
“We will extend our capabilities in developing customised pavement solutions which are more durable and able to withstand Sarawak’s climate and terrain conditions. Emphasis will be on exploring solutions which incorporate locally sourced material and recyclable options to complement our shared values in promoting sustainability to support the numerous infrastructure development projects which JKR Sarawak is currently and will be undertaking in the future,” he added.
The proposed JKR Sarawak’s Research & Development Centre, will be known as ‘Centre of Excellence for Pavement Research’ and located at JKR’s Central Materials Laboratory in Tabuan Jaya, Kuching will focus on the development of new asphalt materials, such as Ultraflex (thin asphalt surfacing), Duraflex (Stone Mastic Asphalt), Hi-Binder Asphalt Wearing Course, ULTIFLEX, TUFFPAVE, DURAFALT (UK), ULM-Ultra (France), Fibretex (Germany), Super Fibre Mix (Germany) as well as explore the development of Recycled Asphalt Pavement (“RAP”) asphalt mixes using recycled materials such as plastics and or by-products such as milling waste.
The collaboration is in line with JKR Sarawak’s efforts to be self-sustainable and one of the identified studies is to explore the viability of utilising locally available aggregates from selected quarries identified by JKR Sarawak for asphalt mix production and ultimately avoid the use of imported granite aggregates.
UEM SUNRISE ANNOUNCES REVENUE OF RM1.7 BILLION FOR THE NINE MONTHS ENDED 30 SEPTEMBER 2019 BACKED BY STRONG SETTLEMENT OF AUSTRALIAN PROJECTS
UEM SUNRISE ANNOUNCES REVENUE OF RM1.7 BILLION FOR THE NINE MONTHS ENDED 30 SEPTEMBER 2019 BACKED BY STRONG SETTLEMENT OF AUSTRALIAN PROJECTS
• Revenue up by 35% compared to preceding period;
• Earnings contribution from property development improved to RM138 million in comparison to RM56 million in 9M 2018; and
• Aurora Melbourne Central and Conservatory main revenue contributors.
Digital Media: UEM Sunrise delivers revenue of RM1,747 million for the nine months ended 30 September 2019, up 35% compared to preceding period contributed by property development revenue, driven by the completion and settlement of Aurora Melbourne Central and Conservatory while earnings contribution from property development improved to RM138 million in comparison to RM56 million in 9M 2018.
Full Release : KUALA LUMPUR, 26 November 2019 – UEM Sunrise Berhad (“UEM Sunrise” or the “Company”) today announced its financial results for the nine months ended 30 September 2019 (“9M 2019”) where total revenue recorded for the period increased to RM1,747 million compared to RM1,291 million in the first nine months of 2018 (“9M 2018”) mainly driven by the completion and settlement of Aurora Melbourne Central’s separable portion (“SP”) 4 in the second quarter of 2019 plus a small fraction of SP5 which was handed over on 16 September, and Conservatory in Melbourne, Australia. Profit after tax and non-controlling interest (“PATANCI”) is RM98 million for the period. Excluding a one-off impairment of RM37 million and unrealised foreign exchange loss of RM15 million, PATANCI stood at RM150 million.
In the absence of significant earnings contribution from land sales in this period compared to RM211 million in 9M 2018, earnings contribution from property development improved to RM138 million in comparison to RM56 million in 9M 2018.
Property development activities contributed 92% of the Company’s total revenue for the period; 69% internationally, mainly Aurora Melbourne Central and Conservatory followed by 16% from Central, the likes of Symphony Hills in Cyberjaya, Residensi Sefina in Mont’Kiara and Serene Heights Bangi. The remaining 15% was from the Southern region largely from Serimbun, Almas@Puteri Harbour and Aspira LakeHomes, in Iskandar Puteri.
As at 30 September 2019, the Company’s unbilled sales stood at RM2.4 billion while property development sales for the current period was RM720 million; 52% contributed by the Central region mainly from Symphony Hills, Residensi Solaris Parq and Residensi Astrea both in Mont’Kiara whilst 45% was from the Southern region largely from Aspira ParkHomes, Estuari Gardens and Almas.
RM1,039 million worth of new properties have been launched comprising mid-market double storey terrace homes; Aspira ParkHomes and Serene Heights Bangi’s Dahlia and Eugenia (both phase 2), two to three-storey shop offices; Aspira Square in Gerbang Nusajaya and high-rise Residensi AVA in Kiara Bay Kuala Lumpur.
Commenting on the financial results, Anwar Syahrin Abdul Ajib, Managing Director/Chief Executive Officer of UEM Sunrise said, “Revenue for this period was driven by the strong settlement of the Australian projects. Aurora Melbourne Central, the 88-storey mixed-use development comprising 959 residential apartments, 252 serviced apartments and office suites with a total GDV of AUD$750 million is already completed. We have handed over all separable portions, the latest being the AUD$241.2 million SP5 progressively from 16 September, which saw a positive settlement to-date of 76%. SP3 and SP4 are already at 100%. The development’s entire loan facilities have also been paid off. For Conservatory, we achieved 85% settlement rate to-date. Its loan facilities are also fully settled”.
“We also signed a sales contract with Scape Australia Management Pty Ltd, currently the largest asset owner and investor in the evolving Purpose-Built Student Accommodation sector in Australia, for the sale of a serviced apartment block forming part of Aurora Melbourne Central, together with 10 car parks and a retail area on 22 November for AUD$125 million. The sale was at a premium compared to the earlier contract with Ascendas Australia Hotel Trust which was mutually terminated in September this year”.
Touching on the Mayfair site divestment, “We divested our site at 412 St Kilda Road in Melbourne to ACME Co. No. 4 Pty Ltd, a trustee for Recap V Management No. 5 Trust, under the care of SC Capital Partners Pte Ltd, Singapore for AUD$107 million. This allowed us the opportunity to unlock the value of the site at a gain and free up cash to enable the pursuit of other investments and venture prospects. Completion is expected in December 2019”.
On new project launches, “We launched RM1.0 billion worth of properties to-date, the latest being Residensi AVA, Kiara Bay Kuala Lumpur, the RM656 million two tower 41-storeys residential apartments comprising 870 units sized from 813 to 1,285 square feet on 23 November. Other developments launched are mainly mid-market landed residences both in Central and Southern regions”.
The Company takes cognisance of the soft property market in the year ahead and will exercise prudence in facing the challenging environment. It continues to consolidate margins through smart spending and project cost savings in addition to its strategy to divest off non-strategic assets.
UEM EDGENTA MAINTAINS GROWTH MOMENTUM WITH 11% REVENUE INCREASE IN THE FIRST NINE MONTHS OF 2019
UEM Edgenta Berhad (“UEM Edgenta” or “Company”), the region’s leading Asset Management and Infrastructure Solutions company announced its Unaudited Financial Results for the first nine months of FY2019 (“9M FY2019”) here today.
For the period under review, UEM Edgenta continues its year-on-year (“Y-o-Y”) growth with revenue and profit before tax (“PBT”) at RM1.7 billion and RM118.7 million, an increase of 11% and 3% respectively as compared to RM1.5 billion and RM115.3 million in 9M FY2018. Net profit for 9M FY2019 stood at RM85.4 million, against the previous year’s RM83.1 million.
The Healthcare Support division which is under the umbrella of the Company’s Asset Management segment continues to drive UEM Edgenta’s earnings with a recorded 50% contribution in both revenue and PBT for 9M FY2019. The division’s revenue and PBT growth soared 16% on a Y-o-Y basis resulting from new contracts secured. The Company’s Healthcare Support division is presently serving over 300 hospitals in Malaysia, Singapore, Taiwan and India.
In the third quarter of FY2019 (“Q3 FY2019”), revenue and PBT also grew at a similar pace of 11% and 3% against the same quarter in the previous year (“Q3 FY2018”) to RM587.6 million and RM25.9 million, respectively. The quarter under review recorded a net profit of RM17.3 million. All divisions of the Company recorded growth in revenue during the quarter; however, growth in profitability was muted, mainly on the back of external headwinds faced with its infrastructure-related businesses. In particular, the Asset Consultancy division recorded a slight loss of RM0.9 million, while Infrastructure Services’ profitability decreased on the back of increased operational costs.
UEM Edgenta’s balance sheet continues to remain strong with net assets per share at RM1.77 and gross gearing ratio remaining mostly unchanged throughout the year at 0.36x. Return on equity has improved to 10.5% as at 9M FY2019 compared to end FY2018 which was at 9.6%.
“We are delivering our suite of services at a steady pace and intend to maintain it or even improve further amidst the challenging global economic and political climate. Other than that, we are also investing in technology through the recent roll-out of our Enterprise Resource Planning system that will allow us to process data faster, make information more accessible and encourage better decision-making, which will streamline and enhance efficiency of our workforce and operations”, said Dato’ Azmir Merican, Managing Director/Chief Executive Officer of UEM Edgenta Berhad.
Dato’ Azmir went on to say that the Company will continue to remain vigilant to the different challenges faced by its core business segments in the sectors and markets that it is present in and seek new business opportunities and technological solutions to better manage its clients’ asset lifecycles.
In its Asset Management segment, UEM Edgenta’s Healthcare Support division made strides by securing new contracts in Singapore and Taiwan, while Property & Facility Solutions division is also optimistic of the business’ outlook to secure large-scale industrial facilities’ opportunities.
The Company’s Infrastructure Solutions segment, which is primarily represented by its Infrastructure Services division will remain focused to maintain its margins through efficiency-based operations in the highway maintenance business while remaining on the look-out for new opportunities for infrastructure maintenance. Meanwhile the Asset Consultancy business is focused on continuing its works in the Sarawak Coastal Road Network and Second Trunk Roads project which was awarded to OPUS Consultants earlier this year.
UEM Edgenta had secured several major contracts in Q3 FY2019 which include Energy Performance Contracting (“EPC”) works in Malaysia for Hospital Kepala Batas, Penang and Hospital Sultanah Bahiyah, Kedah, as well as Design & Build projects for sewage treatment plants along the North-South Expressway; and in Singapore, Healthcare Support Services for Sengkang General Hospital, Sengkang Community Hospital and SingHealth Polyclinics in Singapore.
THE AVA PRIORITY PREVIEW @ KIARA BAY
UEM Sunrise Berhad (“UEM Sunrise”), one of Malaysia’s leading property developers, has unveiled the masterplan of its latest flagship development, Kiara Bay, and opened the Kiara Bay Sales Gallery for priority previews of Residensi AVA, which will be located in the heart of Kepong.
Kiara Bay is an integrated township that offers an elevated living by the waterfront given its proximity to Kepong Metropolitan Park. This township leverages the lake, nature and active lifestyle with the convenience and connectivity of a vibrant urban environment to create enjoyable and effortless living. Residensi AVA will be located at The Walk, Kiara Bay’s Central Business District, and sets the tone for elevated urban eco-living with an emphasis on liveability.
UEM Sunrise is introducing the urban liveability concept in Kiara Bay’s design whereby there will be diversity in the usage of space – from retail to outdoor parks – as they complement one another to create a vibrant atmosphere for the communities in the self-sustaining township. Through this concept, they also aspire to develop close-knit societies within Kiara Bay by generating the buzz in town through community events, festivals, and celebrations.
“Our focus with this urban liveability concept which will be the core of everything we do at Kiara Bay is to create an active urban living icon that has something to offer everyone in our multi-generational communities,” said Anwar Syahrin Abdul Ajib, Managing Director/ Chief Executive Officer of UEM Sunrise. “At UEM Sunrise, we aim to build more than just structures and buildings, but communities and an inclusive environment for them to identify with. Mont’Kiara is our testament to this vision, and so will Kiara Bay.”
This mixed development project will be built together with joint-venture partners, Melati Ehsan Group. “We are excited to be on this journey with UEM Sunrise to create something new in Kepong. Combined with the way this master plan is detailed and the character that it embodies, Kiara Bay will become the industry’s benchmark of urban township,” said Tan Sri Dato’ Yap Suan Chee, Melati Ehsan Holdings Berhad Group Chairman.
According to the master plan that was unveiled, Kiara Bay will consist of residential units, retail mall, office spaces, hotels, healthcare centres and education hubs will span across 73 acres of prime leasehold land in Kepong, with a total master township Gross Development Value (GDV) of RM15 billion.
Residensi AVA consists of 870 residential units with built-up areas ranging from 800 to 1,250 sq ft priced between RM500,000 to RM900,000. Included in this phase are other amenities and facilities such as swimming pools, gym, sky deck, and more. The estimated completion date of Residensi AVA is targeted for the fourth quarter of 2023, while the township in its entirety in 2039.
In terms of accessibility, Residensi AVA Bay would be accessible via several highways and mainroads such as the Middle Ring Road 2 (MRR2), Lebuhraya Damansara-Puchong (LDP), Duta Ulu Klang Expressway, Jalan Kuching, and Jalan Kepong. There will be two new interchanges that will provide direct access from MRR2 into Kiara Bay.
Two MRT 2 stations – Kepong Baru and Jinjang – which are scheduled to be operational by 2021 will be the closest MRT points to Kiara Bay.
“This 15 to 20-year regeneration project would allow integrated master-planning with a diverse range of product types, amenities and community services like Auxiliary Police and shuttle busses to the nearest MRT station,” said Anwar.
“Leveraging our experience and success in developing Mont’Kiara and our JV partner Melati Ehsan’s track record in construction management, we want to create the same value with Kiara Bay so that homebuyers and investors can enjoy capital growth in their assets.”
He added that in comparison to pocket-sized developments, Kiara Bay’s all-encompassing masterplan will create more communities and commercial activities which would translate to more positive impact on Kepong economically and socially.
UEM EDGENTA REAFFIRMS COMMITMENT AGAINST CORRUPTION, SIGNS PLEDGE WITH MACC
UEM Edgenta Berhad (“UEM Edgenta” or the “Company”), the leading Asset Management and Infrastructure Solutions company in the region reaffirms its commitment against corruption and towards good governance as it signs the Corruption-Free Pledge with the Malaysian Anti-Corruption Commission (MACC).
Managing Director/Chief Executive Officer of UEM Edgenta, Dato’ Azmir Merican, led the declaration of the pledge in the presence of MACC officials, the Company’s Board of Directors and close to 200 employees. The ceremony took place recently at UEM Edgenta Learning Centre in Petaling Jaya witnessed by MACC’s Selangor State Director, Dato’ Haji Alias Salim.
“The pledge reinforces the will and corruption-free stand of the Board and management of UEM Edgenta and sets a clear leadership tone that there is no compromise on the issue of corruption. It also demonstrates our long-standing commitment to promote integrity and good governance amongst our personnel. We do not tolerate abuse of power or corruption and we are serious in ensuring that there are no corrupt practices or elements of corruption throughout our organisation,” said Dato’ Azmir during his opening speech at the Company’s Integrity Day 2019, which also played host to industry experts and speakers discussing on a range of topics related to compliance, anti-bribery and integrity.
The Corruption-Free Pledge is an initiative introduced by MACC, a promise made voluntarily on an individual capacity, by an organisation and its employees to ensure pledgers who signed will be more responsible in conducting their duties and to abstain from any corrupt activities during their holding of office.
CIMB AND PLUS TO BRING ADDED OPTIONS FOR TOLL PAYMENTS TO MALAYSIA’S ROAD USERS Initiatives to be facilitated by Touch n’ Go using the Touch n’ Go RFI
CIMB Group Holdings Berhad (“CIMB”) and PLUS Malaysia Berhad (“PLUS”) today announced that they have recently come to an agreement to provide additional payment options to road users at PLUS expressways across the country. These enhanced toll payment services will be facilitated by Touch n’ Go Sdn Bhd (“TNG”) through the TNG RFID tag.
Starting with PLUS expressways, this initiative promises a seamless experience with more options for toll payment anchored on the concept of Open Payments and will give highway customers the choice to link their TNG RFID tags to any of their bank accounts, credit cards, debit cards or the TNG e-wallet. It is the intent of CIMB and TNG to roll-out the Open Payments facility to all toll highway concessionaires across Malaysia in the future. Over time, this RFID driven payment mode is expected to replace the TNG card that has been the defacto mode of payment for toll transactions across the country.
“We’re extremely pleased to have been able to work with PLUS to lead this landmark initiative. The democratisation in toll payments is something we fully champion and the CIMB teams, together with the teams at our subsidiary TNG, are committed to collaborating with PLUS and, in time, other highway concessionaires to make Open Payments an accessible reality for all Malaysians,” said Tengku Dato’ Sri Zafrul Aziz, Group Chief Executive Officer, CIMB Group.
“It has been a key belief at PLUS that giving our customers more options to pay is an important aspect in enhancing their road journeys, so this is a key consideration when working with our partners. We are pleased that Open Payment options will soon be available to toll highway customers, in line with the needs of our customers who look forward to more convenience. We are delighted that CIMB is aligned on this ambition to partner with us to lead in making it a seamless journey on our highways with the democratisation of toll payments where over time, other mode of payment can be considered, thus ensuring the toll industry is always relevant with market practises,” said Datuk Azman Ismail, Managing Director, PLUS.
For starters, TNG RFID services will be available in 10 open system toll plazas at PLUS expressways by January 1st 2020. TNG RFID services for all 83 closed system toll plazas will be available on the PLUS expressways by April 1, 2020.
Open system toll plazas are defined as a system where the toll fare is a fixed rate based on vehicle class. Whereas, Closed system toll plazas is defined when the vehicle enters the highway and the toll rate is based on the vehicle class and distance traveled upon exit out of the highway.
“RFID transactions will be real time, as our highway customers will receive immediate notification of their balance and CIMB/TNG have given their commitment to this high standard of service delivery,” added Azman.
“We will continue to innovate from within and ensure we are always working with our toll concessionaire partners to bring convenience and effective multi-dimensional solutions to Malaysian road users. We see this as the next phase in the evolution of payments, one that is more inclusive and suitable for the future of Malaysia’s expressways,” Tengku Zafrul concluded.
TNG RFID services have been available in pilot-mode at selected expressways nationwide since the beginning of 2019. Currently, there are over 700,000 RFID tags installed on vehicles across Peninsular Malaysia. These tags are currently linked to the TNG e-wallet as a source of funds. The TNG RFID initiative is the first step of a masterplan aimed at reducing congestion on Malaysian expressways.
The scheme is being coordinated and devised in collaboration with the Ministry of Transport, Ministry of Works and Malaysian Highway Authority and there will be absolutely no disruption to the current card, SmartTAG or PayDirect services.