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SHARING THE REWARDS
For the financial year ended 31 December 2005, the
Directors are pleased to propose a final gross dividend of
5.0 sen per share, less income tax, subject to the approval
of shareholders at the forthcoming Annual General
Meeting. Together with an interim gross dividend of
2.5 sen per share, less income tax, paid on 22 Feb 2006;
the total dividend for the financial year is 7.5 sen per
share less income tax.
CREATING NEW INROADS
It was an eventful year with several high points as the
Group reaped the harvest of its expansion strategy.
Along with new phases in its existing township
developments, UM Land’s smart partnership in creating
niche luxury lifestyle projects made the headlines. The
notable highlights of the year were:
• Launch of Suasana Sentral Loft luxury
condominiums
Introducing resort living in an urban setting, Suasana
Sentral Loft raised the bar of luxurious living when
it was launched in January 2005.
Azeanna Homes, Seri Austin
23
A sequel to the adjacent 100 per cent sold Suasana Sentral condominum, Suasana
Sentral Loft’s super sleek sensual style set pulses rising and registered 90 per cent take
up just within five months of its launch. This niche project is a result of UM Land’s
continued initiatives in seeking smart partnership opportunities with reputable
partners; in this case, Malaysian Resources Corporation Berhad.
• Launch of Seri Austin township
The promise of well designed properties with good value proved successful when
UM Land launched the township of Seri Austin, located within Mount Austin -
Tebrau growth corridor of Johor Bahru, in July 2005. Its first product, the single storey
“Mezza Homes” terrace houses with a mezzanine floor received overwhelming
response with 60 per cent sold on its first day of launch and 88 per cent sold to-date.
Later in November, in line with UM Land’s new aggressive marketing approach, a
carnival-style day-long celebration was held to unveil its impressive show village. The
event, which also featured new launches of its double-storey Azeanna and Azalea
terrace houses, attracted huge crowds.
• Handover of Seri Bukit Ceylon serviced residences
UM Land’s pioneering foray into niche developments and smart partnerships registered
much satisfaction with the successful handing over of Seri Bukit Ceylon serviced
residences in October 2005.
The Ascott International Management Group now manages 96 units of these serviced
residences under its Somerset brand name. The Ascott International Management
Group is a member of CapitaLand Group of Companies and also one of the world’s
leading serviced residences owner and operator. It has proven itself internationally
with serviced apartments extending across major cities in Asia, Australia, New
Zealand, UK and The Gulf Region.
The successful handover of this serviced residences project is an impetus for the Group
to invest in more of such developments with attractive returns and short gestation period.
• Joint venture with Bolton and CapitaLand on development of a landmark
residential project
Identifying a promising new development at the beginning of year 2006, UM Land
entered into a joint venture with Bolton and CapitaLand to acquire, develop and market
a 4.3-acre parcel of prime residential site located along Jalan Mayang and Jalan Yap
Kwan Seng. The joint venture would see UM Land and Bolton holding equal stakes of
35 per cent each whilst CapitaLand owns the balance of 30 per cent.
UNITED MALAYAN LAND BHD