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UEM Sunrise Announces 3rd Quarter 2013 Financial Results

KUALA LUMPUR, 25 November 2013 – UEM Sunrise Berhad (“UEM Sunrise”) today reported a strong performance for its third quarter ended 30 September 2013 with total revenue of RM694.1 million and profit after tax and minority interest (“PATAMI”) of RM182.8 million, up 60.2% and 114.3% respectively compared to the corresponding period in 2012.

Its revenue for the nine months ended 30 September 2013 improved by 51.8% to RM1.9 billion, compared to RM1.2 billion recorded in the same period of 2012. PATAMI for the nine month period also increased by 102.8% to RM501.2 million compared to RM247.1 million for the corresponding period last year, supported by two major land sale transactions in Puteri Harbour, the sale of 43.6 acres of land to Liberty Bridge Sdn Bhd which was accounted for in the first quarter of 2013 and the sale of 12.5 acres to Southern Marina Development Sdn Bhd, the 70 : 30 joint venture company between the Kuok Brothers Group and Khazanah Nasional Berhad, which was recognised in the third quarter.

UEM Sunrise also reported total sales from property development of RM2.1 billion from January to September 2013 compared to RM1.2 billion in the same period last year, an increase of almost 71.0% while unrecognised revenue as at 30 September 2013 stood at RM3.3 billion, compared to RM1.9 billion on 30 September 2013. The property development sales were largely contributed by Teega @Puteri Harbour (“Teega”) in Nusajaya, followed by Arcoris Mont’Kiara in Kuala Lumpur, as well as East Ledang and Nusa Idaman in Nusajaya.

Update and Outlook

In the Central Region, the preview of Residensi 22 Mont’Kiara, a 6.6-acre development consisting of two towers of 534-unit condominiums with Gross Development Value of RM941.2 million, has been well received, with 70% of the previewed units at Block 1 sold and booked.

In terms of expansion plans, the Company is always on the lookout for new development opportunities citing Australia as one of the key countries under its strategic regional expansion plan. This was proven by the recent acquisition of two land parcels covering 3,197 sq m on LaTrobe Street and 2,030 sq m Mackenzie Street in Melbourne CBD, Australia. Planning to redevelop the parcels into premium residential developments with retail component, the Company is positive that the venture will be successful.