UEM EDGENTA POSTS A DOUBLE DIGIT REVENUE GROWTH FOR 9M FY2022
KUALA LUMPUR, 29 November – UEM Edgenta Berhad (“UEM Edgenta” or “Company”), the region’s leading Asset Management and Infrastructure Solutions company announced its unaudited financial results for the period of nine months ended 30 September 2022 (“9M FY2022”) today.
The Company reported a net profit of RM24.6 million in 9M FY2022 on the back of RM1.8 billion revenue, which is 13.7% higher than the same period last year. Profit before tax (“PBT”) stood at RM55.3 million in 9M FY2022, 22.1% higher than RM45.3 million recorded in the same period last year.
After a strong first half of FY2022, growth momentum for the third quarter was moderated by the intensifying inflationary pressure and supply chain disruptions. Comparing the third quarter of FY2022 (“Q3 FY2022”) with the immediate preceding quarter (“Q2 FY2022”), revenue grew by 3.0% or RM18.5 million to RM646.2 million in Q3 FY2022, while net profit fell by 59.3% from RM10.8 million to RM4.4 million, primarily due to a one-off provision of impairment loss on inventories and the cost escalation in its business operations.
Growth in revenue year-on-year (“Y-o-Y”) was mainly driven by higher revenue generated from the Healthcare Support Services division through the expansion into integrated healthcare solutions offerings in Malaysia as well as extending services to the adjacency sectors in Singapore and Taiwan, namely, the hospitality and semiconductor sectors. Growth was also demonstrated in the Infrastructure Solutions business, driven by higher volume of maintenance works performed following the lifting of the movement control order by the Government and improvement in traffic volume in the major expressways. As of 30 September 2022, UEM Edgenta’s balance sheet remains healthy by maintaining a low gearing ratio at 0.3 times.
The Company’s orderbook remains strong at RM10.1 billion. For the first nine months of FY2022, the Company secured new contract wins of approximately RM972 million, with 70% of the new wins being contributed from its international businesses in line with the Group’s international expansion strategy.
The reopening of international borders on 1st April 2022 and the full resumption of economic activities have paved the way towards positive growth momentum. The improved sentiment was, however, met with macroeconomic and inflationary headwinds which contributed to cost escalation across all sectors globally. Against this challenging business environment, the Company continues to deploy short to medium term measures to navigate through the volatile market conditions while maintaining the quality of its service delivery.
“We are committed to delivering long term sustainable value to our stakeholders while taking responsive and proactive measures to enhance our operating agility and resilience. Despite the macroeconomic headwinds and operational challenges, the Company will continue to strengthen its readiness through structural cost optimization and operational efficiency strategies towards building a global, technology-enabled integrated facilities management company,” said Syahrunizam Samsudin, Managing Director/Chief Executive Officer of UEM Edgenta.
UEM Edgenta is making good progress with its strategic portfolio repositioning strategy. The recent divestment of Faber Sindoori Management Services Private Limited allows the Company to reinvest into new growth markets/products and technology while the investment in MEEM for Facilities Management Company provides an immediate market access to the Kingdom of Saudi Arabia, accelerating the Company’s international expansion in the Integrated Facilities Management business.
RESIDENSI ASTREA MONT’KIARA TOPPING OUT FURTHER STRENGTHENS UEM SUNRISE’S PRESENCE IN MONT’KIARA
KUALA LUMPUR, 29 November 2022 – UEM Sunrise Berhad (“UEM Sunrise” or the “Company”) has achieved another milestone by commemorating a successful topping out of Residensi Astrea Mont’Kiara (“Residensi Astrea”) today, further cementing its foothold in the international neighbourhood of Mont’Kiara.
Amid numerous challenges including lockdowns caused by the Covid-19 pandemic, labour shortages and the rising cost of building materials, the topping out of Residensi Astrea serves as a testament to all parties involved in the project to ensure timely and seamless delivery across multiple stages, having reached its structural peak with the completion of its roof slab on the topmost floor.
“Residensi Astrea’s topping demonstrates our continued efforts to bring value to the Mont’Kiara neighbourhood as one of its pioneer developers despite the challenges we faced and overcame. We aspire to create more sustainable living spaces with innovative products for homeowners who seek to stay in the international and diverse community of Mont’Kiara. Residensi Astrea’s progress is going according to schedule, and we are looking forward to its completion in Q4 2023 as planned,” said UEM Sunrise Chief Executive Officer Sufian Abdullah.
First launched in October 2018, the development is a freehold luxury residence comprising asingle 37-storey tower with 240 units across 2.4 acres of freehold land, offering six different layouts to choose from. With built-ups ranging from 126.7 sq m to 172.7 sq m, the variety caters to a diverse range of homebuyers to suit their varying life stages - from newlywed couples and young families to empty nesters.
UEM Sunrise Chief Executive Officer, Sufian Abdullah led the symbolic ceremony, alongside Chief Operations Officer (Central), Liong Kok Kit and Residensi Astrea’s Project Team Leader, Phoon Sit Meng. The Project Architect, Ar Reno Lee from UIG Architects; Main Contractor of the development Pembinaan Mitrajaya Sdn Bhd’s Executive Director Bibhuti Nath Jha; and Project Director, Chan Yeen Kong were also in attendance.
Residensi Astrea provides an ambience of spaciousness and luxury in every corner. Its design maximises natural light and ventilation into the rooms which will reduce dependency on artificial lighting and air conditioning. Residents will also be feted with views of either the Mont’Kiara skyline or the green forest landscape of Bukit Kiara.
Dubbed as one of the most affluent townships in Kuala Lumpur with excellent amenities, Mont’Kiara remains firmly at the top of buyers’ wish lists. 98% of Residensi Astrea units have now been taken up and is targeted for completion in Q4 2023 with an approximate Gross Development Value (GDV) of RM323 million.
In addition to a multi-tier security system for the safety and comfort of its residents, Residensi Astrea also features more than 20 lifestyle-inspired facilities for them to enjoy such as lush, landscaped greenery on the ground floor, gastro pavilion, starlit infinity pool, splash playground for children, sky lounge and sky gym.
Residensi Astrea has excellent proximity to various international schools and retail hubs and services in the area. Moreover, residents will have easy access to major highways such as the SPRINT Highway and Penchala Link, quickly connecting them to numerous regions of Klang Valley.
UEM Sunrise staff tuning in to the project summary about Residensi Astrea.
(From left to right) – Executive Director of Pembinaan Mitrajaya Sdn Bhd, Bibhuti Nath Jha; UEM Sunrise Chief Operations Officer (Central) Liong Kok Kit; Chief Executive Officer, Sufian Abdullah; Project Atchitect from UIG Architects, Ar Reno Lee; and Residensi Astrea’s Project Team Leader Phoon Sit Meng posed for a photo after commemorating Residensi Astrea’s topping out ceremony.
Both UEM Sunrise and Mitraland teams posed for a group photo after the topping out ceremony.
UEM SUNRISE KICKS OFF 'HAPPY GOALS BY UEM SUNRISE' CAMPAIGN WITH FREE NFTS AND PROPERTY SHOWCASE TO END THE YEAR
KUALA LUMPUR, 24 November 2022 – In conjunction with the most anticipated football tournament of the year, UEM Sunrise Berhad ("UEM Sunrise" or the "Company”) announced its final campaign for the year - 'Happy Goals by UEM Sunrise'.
From 8 November to 31 December, homebuyers can bring home limited edition Non-Fungible Tokens (NFTs) for free by registering their interest at UEM Sunrise's website. These NFTs come preloaded with valuable goodies and rewards worth up to RM100,000, which homebuyers can fully redeem when they purchase one of the participating developments.
In conjunction with the campaign, the Company are also inviting the public to the "Happy Goals Property Showcase" at Publika Shopping Gallery from 21 to 27 November, where they can participate in a variety of games and lucky draws to stand a chance to win exciting rewards and claim special promotions.
Introducing free limited edition NFTs with preloaded goodies is a pioneering effort that underlines the Company’s continuous journey to become a property developer that embraces technology, utilising the digital space and assets to streamline offerings and transactions with homebuyers online and offline.
"We strive become a company that is easily accessible to everyone by consistently looking for better ways to connect with our customers in the real world and virtual spaces to help them find their dream homes. Being the first Malaysian property developer to pioneer this tech and embark on Web 3.0, our football themed NFT campaign is the first among many steps towards achieving this goal. We have similar exciting plans in the pipeline, so stay tuned," said UEM Sunrise Chief Executive Officer Sufian Abdullah.
NFTs are digital assets on a blockchain with special codes and metadata distinct from one another and usually branded as real-world tangible assets like artwork or real estate.
Happy Tiger retakes centre stage as UEM Sunrise's mascot for 2022. This time, it is dressed in cute football jerseys featuring iconic football moments as NFT designs. Each signed-up homebuyer will acquire different poses and designs of Happy Tiger.
As its mascot of the year, Happy Tiger became synonymous with UEM Sunrise since its introduction earlier this year, first featured in the 'Happy Duo Duo' Chinese New Year Campaign, followed by the 'Ini Baru Raya' Hari Raya Campaign as well as the Company's role in donating to the Malayan tiger conservation efforts.
The participating developments include KAIA Heights; Allevia Mont'Kiara; and Forest Heights' Begonia, Broadhill Phase 1 and 2, Forest Avenue, and Arden Hill Phases 1 and 2. Each development will have promotional goodies for homebuyers to redeem with their NFTs.
For more information about Happy Goals by UEM Sunrise Campaign, visit uemsunrise.com/HappyGoals or be part of the Company's digital communities on Discord or Telegram and be the first to get the latest updates on special promotions and upcoming new launches.
UEM Sunrise’s final campaign for the year, a football-inspired campaign featuring the use of 'Non-Fungible Tokens' (NFTs), called 'Happy Goals by UEM Sunrise'
Happy Tiger retakes centre stage as UEM Sunrise's mascot for 2022, featuring in cute football jerseys in iconic football moments as NFT designs.
These Happy Goals NFTs come preloaded with valuable goodies and rewards worth up to RM100,000, which homebuyers can fully redeem when they purchase one of the participating developments.
Users can stand a chance to earn Grab vouchers worth up to RM5,000 when they engage with UEM Sunrise’s social mediachannels.
From 21 to 27 November, UEM Sunrise is hosting its "Happy Goals Property Showcase" at Publika Shopping Gallery where the public can join in a variety of games, win exciting lucky draw prizes and claim special promotions.
(UEM SUNRISE) STRONG REVENUE AND OPERATIONS SUPPORTED PERFORMANCE FOR THE FIRST NINE MONTHS OF 2022
KUALA LUMPUR, 23 November 2022 – UEM Sunrise Berhad ("UEM Sunrise" or the "Company") today announced its financial results for the nine months ended 30 September 2022. The Company recorded a revenue of RM1,137.2 million compared to RM714.9 million in the nine months of 2021. Driven by higher progress billings and construction progress from local developments, mainly Residensi Solaris Parq in Dutamas, Serene Heights in Semenyih, Senadi Hills in Iskandar Puteri, Aspira ParkHomes in Gerbang Nusajaya, and Residensi AVA in Kiara Bay, the Company continued to be profitable through higher sales support of Estuari Gardens in Puteri Harbour, industrial plots in the Southern Industrial and Logistics Clusters or SiLC, and the divestments of a few non-strategic lands.
It recorded a significant improvement in its earnings position in tandem with higher revenue, and improvements in other income, operating expenses and share of results from joint ventures and associates. For the nine months ended 30 September 2022, it recorded a profit after tax and non-controlling interests of RM60.1 million showing a positive recovery in contrast to its performance in the same period last year.
UEM Sunrise was able to reduce 43% of its inventories from RM396.9 million as of 31 December 2021 to RM227.1 million as of 30 September 2022, whilst its cash balances remain strong at RM950.3 million for the same period. For the remaining quarter of the year, the Company will settle the remaining units of Aurora Melbourne Central and Conservatory in Melbourne, and finalise the plans for its next project in Collingwood, Melbourne. At the local front, Residensi Solaris Parq, which is nearing full take up, and Kiara Kasih in Mont’Kiara, which is fully sold to-date, will be completed before the end of the year.
Commenting on the financial results, Sufian Abdullah, Chief Executive Officer of UEM Sunrise said, "We are pleased with our financial turnaround and are on course to remain profitable for this financial year. Our priority for 2023 is to strengthen our product pipeline and focus on property development activities. We will begin our year with launches in the Central region namely THE MINH at Mont’Kiara and our return in the Cheras market, THE CONNAUGHT ONE”.
The Company will continue with its three-pronged strategic turnaround plan, focusing on initiatives under Triage which includes asset monetisation plans, and reinforcement of future pipeline. It will also continue to evaluate and acquire other potential landbank, and create new pipelines in order to sustain the Company’s non-financial and financial performance in the long term.