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Monday, February 25, 2008

UEM Land plans to enter regional market in three years

Horizon Hills is one of the components in Bandar Nusajaya

UEM Land Sdn Bhd aims to have a regional presence by 2011 when it expands its wings offshore to other emerging markets such as Vietnam, Indonesia and India.

“With our key development, Nusajaya in Johor, reaching the tipping point by that time, the company will have the capability to venture into new markets to widen its earnings base,” said managing director Wan Abdullah Wan Ibrahim.

“Going by our parent company UEM Group Bhd's long list of developments and track record, we have consistently delivered our projects on time and with great quality.

“The group has also established an international presence, which the company can leverage on in its offshore aspirations.”

Locally, UEM Land is looking at adding new profit centres to achieve geographical diversity in areas of focus, including several opportunities in the Klang Valley, which should be revenue-generating in 2009 if they materialise.

Meanwhile, the proposed restructuring of UEM Group involving UEM Land taking over the listing status of UEM World Bhd in September will raise the profile of UEM Land.

UEM Group has a 51.9% stake in UEM World and 28.5% in UEM Land.

The restructuring exercise, worth RM2bil to RM3bil, will set the stage for the company to emerge as a long-term property player.

“We are putting in place all the key ingredients for UEM Land to realise its vision to be a global community builder,” Wan Abdullah noted.

He said that being a key performance index-driven company, UEM Land would put in gear proactive programmes to ensure its projects were planned and delivered on time and meet the company's strategic targets.

Plans are also afoot to position UEM Land as a customer and stakeholder-centric organisation.

“We want to provide a new experience for our buyers and stakeholders, including shareholders, government officials and business associates.

“The Culture of Excellence programme that kicked off last year will spearhead this new initiative company-wide,” he said.

By The Star

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