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20
Letter to
Dear shareholders
On behalf of the Board of Directors of United
Malayan Land Bhd, it gives us great pleasure to
present to you the Annual Report and the Financial
Statements of the Company and the Group for the
financial year ended 31 December 2005.
Shareholders
IN BRIEF
2005 saw the global economy easing and Malaysia’s
economic growth moderating to a steady 5.3 per
cent. Amidst this background, it is our pleasure to
report that the Group accelerated to new heights as
it enjoyed a 30 per cent increase in revenue
and a heightened profile in towering high-end
developments. It was a year of expansion as we
embarked on joint ventures, land lease arrangement
and launched a new township as well as a niche
development project. All in all, a successful lead up
to 2006, as UM Land embarks on a repositioning
strategy to gain greater repute and recognition.
Of significant note, we are proud to welcome our
former Deputy Prime Minister of Malaysia YBhg
Tan Sri Dato’ Musa bin Hitam as our new chairman
this year. Shareholders of UM Land approved his
appointment at an extraordinary general meeting
held on 26 January 2006. Having dedicated time and
insights into reformulating a 5-year strategic
roadmap, UM Land, together with its management
team, is set to capitalise on his new leadership and
energy to see this plan through to fruition.