Uniutama planning to develop township on UUM land in Sintok


  • Business
  • Wednesday, 26 Mar 2003

BY ANTHONY TAN in Sintok

UNIUTAMA Management Holding Sdn Bhd, wholly-owned by Universiti Utara Malaysia (UUM), plans to develop a township on a 52ha UUM-owned plot just outside the university's campus in Sintok. 

Uniutama chief executive officer Syed Soffian Syed Ismail said the company would set up a property management subsidiary to undertake the project in a joint venture with one of five companies it had identified as a potential partner. 

He said the proposed components of the project included residential units, shophouses, a fuel service station, a bowling alley and business outlets. 

“We hope the township will support the needs of the campus population. UUM students now go back to their hometowns during the holidays. There is no life here. If we have the township, it will attract people to stay here,'' Soffian told newsmen on Monday. 

Syed Soffian Syed Ismail

He said Uniutama hoped to embark on the project by the end of the year. 

On the company’s financial performance, Soffian said it chalked up a turnover of RM7.5mil last year with a RM1.2mil net profit before audit, compared with a turnover of RM4mil and net profit of RM400,000 in 2001. 

He said Uniutama had targeted a turnover of RM10mil this year. It was set up in 1999 to run business with the aim of generating income for UUM. 

It has a number of subsidiaries involved in various businesses including travel and tours, hotel management, insurance sales and tuition. 

Uniutama, which has a paid-up capital of RM5.8mil, also runs the campus bus service in UUM and a vehicle workshop. 

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