Kuala Lumpur, 10 June 2009: UEM Land Berhad’s vision of turning Nusajaya, a model regional city powered by the diversity of its development, is well into execution.

Phase 1 of the Johor State New Administrative Centre (Kota Iskandar) has been completed and the state government began operations in the new premises in Q1 of 2009. The 688-acre waterfront development, Puteri Harbour, opened its channel for the first yacht to sail in on 15 January 2009, with the completion of its Clubhouse, promenade and public marina. The managed industrial park, SiLC, catering to clean and green industries, is close to 60% taken up on its Phase 1 development. Various phases of the residences in Horizon Hills, Nusa Idaman and East Ledang are well taken up, while Afiat Healthpark is now ready for development by healthcare operators. The first operator, Columbia Asia Sdn Bhd has started construction of its hospital, slated to be completed in 2010.

Having translated this vision for Nusajaya and in meeting UEM Land’s strategy of diversifying the geographical location of its developments, UEM Land has now expanded its footprint into Klang Valley – in Cyberjaya, with the acquisition of 98 acres of freehold development ready land at a site adjacent to the Central Business District of Cyberjaya.

UEM Land Holdings Berhad Chairman Tan Sri Datuk Dr Ahmad Tajuddin Ali said that whilst Nusajaya remained UEM Land’s key focus, UEM Land would continue to look out for good opportunities to diversify geographically, including internationally.

UEM Land believes that the investment in Cyberjaya comes at an opportune time given the recent completion of the Maju Expressway, a dedicated highway that directly links Kuala Lumpur to Putrajaya / Cyberjaya, which has made Cyberjaya more accessible than ever before.

Tan Sri Tajuddin also added that the financial performance of UEM Land Holdings for FY2008 has been commendable.

UEM Land Holdings Berhad achieved a total revenue of RM511.6 million and profit after tax of RM75.1 million for the financial year 2008 (FY2008).

Although a decline compared to the previous year’s RM1,871.5 million in revenue and RM529.7 million in profit after tax, the FY2008 financial performance is attributed largely to a one-off land sale to Khazanah Nasional Berhad in FY2007, which accounted for a revenue of RM1,430.4 million. After stripping out the effects from the Khazanah land sale in FY2007, UEM Land Holdings’ financial performance for FY2008 showed a commendable 16% increase in revenue from RM441.1 million (FY2007) and a 46% increase in profit after tax from RM51.5 million (FY2007).

“In the immediate future, our focus is on ensuring that all the enablers are in place to realise our vision of developing Nusajaya into a model regional city, but looking ahead, we intend to grow UEM Land Holdings into an international player. With a healthy balance sheet and our ability to access funding, we will capitalise on growth opportunities beyond Nusajaya to create sustainable shareholder value,” he added.

“2009 will be a challenging year in view of the world economy. Over and above driving revenue to achieve our headline KPIs, we plan to take the opportunity to drive operational excellence to achieve greater efficiency through upgrading our systems and processes and establishing a culture of excellence as we prepare for the next upsurge.”

“We are mindful of our shareholders’ need for an income stream from their investments. However, the Board has not recommended a dividend for FY2008 as we would like to build sufficient reserves to take advantage of growth opportunities which may arise in the future,” he said.

UEM Land Holdings Berhad, incorporated on 20 August 2008, made a successful debut on the Main Board of Bursa Malaysia Securities Berhad on 18 November 2008. This resulted from a major restructuring exercise undertaken by UEM Group Berhad and UEM World Berhad to reposition UEM Land Holdings as the property wing of the UEM Group of companies and to unlock value for our stakeholders, whilst enabling direct equity participation by the investing public in its exciting next phase of growth. On its first day of trading, the UEM Land Holdings Berhad shares closed at 57 sen per share; its last closing share price on 9 June 2009 was RM1.77 per share.