KUALA LUMPUR, 2 March 2012 – UEM Land Holdings Berhad (“UEM Land”), the country’s biggest property developer by market capitalisation reported a strong performance for the financial year ended 31 December 2011 (“FY2011”) with total revenue of RM1,703.2 million and profit after tax, amortisation and minority interests (“PATAMI”) of RM301.7 million, up 261.5% and 55.1% respectively compared to 2010.
UEM Land also reported total sales of RM2.2 billion, exceeding the target of RM2.0 billion set at the beginning of 2011 with total unbilled sales value of RM1.85 billion as at 31 December 2011.
The results meant that UEM Land surpassed its Headline KPI revenue growth target for FY2011 driven mainly by the strong sales performance and revenue contribution from the Group’s Property Development activities.
“We are pleased with our achievements for 2011 but the Group will strive to better the current year’s performance,” said Dato’ Wan Abdullah Wan Ibrahim, UEM Land’s Managing Director and Chief Executive Officer.
Dato’ Wan further commented that the Group has set even more ambitious Headline KPI targets for 2012 to further grow revenue and PATAMI by 50% and 40% respectively and it will pursue an intensive growth trajectory to cement its standing as one of the front-runners in the Malaysian property development sector.
For 2012, UEM Land announced that it aims to achieve RM3.0 billion in property sales with planned new residential and commercial property launches in Nusajaya (Johor), Mont'Kiara, the Kuala Lumpur central business district and Kajang (Selangor) with a total gross development value (GDV) of RM4.5 billion.