KUALA LUMPUR, 17 August 2015 – UEM Sunrise Berhad (“UEM Sunrise” or the “Company”) today announced its financial results for the sixth months ended 30 June 2015; whereby total revenue stood at RM789.8 million as compared to RM849.2 million recorded in the corresponding period of 2014. Although the total revenue achieved saw a decrease of 7% as compared to 2014, profit after tax and non-controlling interest (“PATANCI”) increased by 1% to RM137 million as compared to RM136 million recorded in the same period last year.
Property development activities contributed almost 91% of the total revenue for the current period. The three major revenue contributors were Teega in Puteri Harbour, Nusajaya; Quintet in Vancouver, Canada and Arcoris Mont’Kiara, Kuala Lumpur in line with higher construction progress recorded for the projects.
Total property development sales for the period improved to RM600.4 million from RM438.9 million achieved in 2014 driven mainly by international sales from the Aurora Melbourne Central project in Melbourne, Australia which contributed sales of RM267.3 million for the current period. Locally, Residensi22 Mont’Kiara has also achieved overwhelming response recording over 90% sales to date. Unrecognised revenue as at 30 June 2015 stood at RM3.8 billion as compared to RM3.0 billion recorded in 2014.
For the year to date, UEM Sunrise has launched Residensi Sefina Mont’Kiara and Serene Heights, Bangi in the Central Region. Residensi Sefina Mont’Kiara is a cruise ship-themed development project situated on a 3.06-acre freehold footprint comprises 245 condominium units stacked on a 35-storey tower. This high rise marvel which was released in May commands an estimated gross development value (“GDV”) of RM307 million.
Additionally, a total of 274 units of Acacia and Begonia double storey terrace homes in Serene Heights, Bangi, a mid-market township development spread across 448 acres of freehold land was also launched in late June.
In the Southern Region, the Company is on course to launch the final phase of industrial lots in Southern Industrial & Logistics Clusters later this year.
Managing Director/Chief Executive Officer of UEM Sunrise, Anwar Syahrin Abdul Ajib commented, “Although the property market is very challenging at the moment amidst the current global market situation, we are optimistic that we will continue to have a strong presence in the industry bolstered by the strong sales of our new project launches such as Residensi Sefina Mont’Kiara and Serene Heights in Bangi”.
“Internationally, we expect to leverage on Conservatory, our second development project in Melbourne, Australia scheduled to be launched by October 2015,” Anwar added.
The Company, in its efforts to further strengthen its market presence in Australia recently purchased a 21-storey office tower in Melbourne for RM161 million and plans to convert it into an unprecedented ultra-luxurious residential development, potentially with a mix of ground floor retail and serviced apartment components. The office tower, which is located on the city fringe of St. Kilda Road measures 16,000 sq m and is UEM Sunrise’s third property acquisition in the city.