From left: Grab Malaysia country head Sean Goh, GrabPay Malaysia, Singapore and Philippines head Ooi Huey Tyng and Anwar.
KUALA LUMPUR: Property developer UEM Sunrise Bhd
is optimistic about hitting its sales target of RM1.2bil for this year, as it plans to roll out between RM350mil to RM500mil worth of projects in the last quarter of 2018.
MD and CEO Anwar Syahrin Abdul Ajib said sales and launches, so far, are on track.
As at end of June 2018, the group secured sales of RM663.8mil and is on track to achieve its sales target. Its unbilled sales remain healthy at RM4.9bil.
Separately, UEM Sunrise today tied up with ride-hailing company Grab Malaysia to extend cashless services such as transportation, dining and shopping to retailers and customers in and around Publika (Kuala Lumpur) and Iskandar Puteri (Johor).
“We hope to create a cashless environment and provide convenience with this tie-up, said Anwar.
For its second quarter ended June 30, 2018, UEM Sunrise recorded a net profit of RM213.79mil compared with a net loss of RM9.84mil in the previous corresponding period, driven by higher contribution from land sales, gain from projects’ development costs savings and lower operating expenses.
Revenue in the second quarter grew to RM573.35mil from RM290.91mil a year earlier, due to recognition of land sales, the good construction progress from Almas, Melia, Sefina and Estuari projects as well as the sales of its completed units driven by its inventory monetisation campaign.
Revenue contributions cushioned the impact of the group’s project development cycle for Solaris Parq, Serimbun and Kiara Kasih which are still at the early stages and the completion of Teega, Arcoris and Residensi 22.
For the six-months period ended June 30, 2018, the company’s net profit increased to RM239.08mil from RM13.47mil in the previous corresponding period, while revenue improved to RM861.09mil from RM711.24mil a year earlier.
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