News by TheEdgeMarkets.com

In a virtual briefing on Monday (Feb 28), Tee said the group is targeting to attain an annual revenue of RM1 billion, which is comparable with its performance before the Covid-19 pandemic hit, which was followed by various forms of lockdowns and restrictions implemented as preventive measures by the government to stop the virus' spread.

Revenue however slipped 7.28% to RM1.03 billion, from RM1.11 billion, on lower contributions from its property development segment, the group said in a filing with Bursa Malaysia.

In a bourse filing, the group said its quarterly revenue soared 68.5% to RM317.34 million from RM188.39 million in the corresponding quarter of the previous year.

“We continue to be very optimistic on both our healthcare and international segments. We are looking at a 20% to 30% increase in terms of new order book wins in 2022,” its chief strategy officer Rais Imran told the press after the virtual briefing for UEM Edgenta’s fourth quarter (4QFY21) and full-year financial performance (FY21).

This resulted in lower earnings per share of 2.29 sen for 2QFY22 compared with 3.1 sen for 2QFY21, according to the group’s filing.

In 4QFY20, the group benefited from the disposal of two parcels of land in Johor Baru for a combined RM157.4 million.

This is after, among others, the creation of an industrial development fund (IDF), which will be part of the investment and asset manager business under Sime Darby Property’s SHIFT 25 business model.

According to the property developer's filings with Bursa Malaysia on Thursday (Feb 24), revenue however dropped to RM136.45 million in the fourth quarter ended Dec 31, 2021 (4QFY21) from RM194.11 million

The group saw its net profit jump three-fold to RM793.42 million for the cumulative nine months ended Dec 31, 2021 (9MFY22) from RM247.76 million a year ago, even though revenue came in lower by 4.7% to RM3.18 billion from RM3.33 billion in 9MFY21 due to lower construction activities as a result of the Covid-19 lockdown.

“(For the full year) Sime Darby Property recorded an impressive RM3 billion sales achievement for FY21. This exceeded the group’s FY21 sales target of RM2.4 billion and is a significant 50% year-on-year increase from the previous year,” the company said.