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Wednesday, January 11, 2012

UEM Land expects higher sales of RM3bil

PETALING JAYA: UEM Land Holdings Bhd has raised its sales target to RM3bil worth of properties for 2012 compared with RM2bil that it achieved last year.

“We will be launching RM5.5bil worth of properties throughout Malaysia this year, with a sales target of RM3bil,” managing director and chief executive officer Datuk Wan Abdullah Wan Ibrahim said.

UEM Land had already met its sales target of RM2bil last year.

The company would unveil the actual figure when it announced its financial results for the fourth quarter of 2011, Abdullah said after a signing ceremony to mark the company's collaboration with Medini Security Services Sdn Bhd.

Security assurance: Wan Abdullah (right) exchanging documents with Iskandar Investment president/CEO Datuk Syed Mohamed Syed Ibrahim after signing a joint venture agreement to offer security services in Nusajaya.

UEM Land would form a joint venture (JV) with Medini, a wholly-owned subsidiary of Iskandar Investment Bhd, to provide full-fledged security services in Nusajaya, one of the five nodes of Iskandar Malaysia development in Johor.

The JV would expedite the implementation of the overall safety and security initiatives and control the quality of security services in Nusajaya.

Abdullah said the deal was significant as it would help address the negative perception that many people have towards the safety and security aspects in Johor, and help reassure potential investors besides attracting investments to the state.

To initiate the security effort, UEM Land had deployed 20 auxiliary policemen from Mont Kiara, Kuala Lumpur, to be stationed in Nusajaya.

Abdullah said the JV company was expected to have 160 auxiliary police men deployed in the development by 2015.

He said the JV had allocated RM8mil as capital expenditure for 2012.

Of the amount, RM4mil would be used to procure vehicles and equipment while the remainder for operation expenditure.

He said that the JV company was not a profit centre.

The company, he said, would earn revenue from the security services it provided for various projects in Nusajaya.

By The Star

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