[SIME DARBY PROPERTY BERHAD：未开单销售保持在健康的15亿令吉，并有针对性地计划推出新产品。该公司的银行存款余额也达9.255亿令吉，而来自营运的可观现金流为1.205亿令吉，而其净负债比率仍然低至0.26倍]
房地产开发部门录得480万令吉的利润，而去年同期为7180万令吉。与上年同期相比，本季度表现较好的开发项目包括Elmina West，Subang Jaya City Centre，Ara Damansara和Nilai Utama township。一旦满足工业用地的收入确认标准，集团的工业部门的新城镇Kota Elmina将开始为集团的业绩做出贡献。
房地产投资部门录得50万令吉盈利，上一季度则亏损390万令吉。业绩改善归因于设施及资产管理服务的贡献增加以及KL East Mall开业前的支出减少。
该公司还将把重点放在优先领域上，以期在2020年有所作为，特别是增强其表现。一旦情况更加明朗，Sime Darby Property将继续监视局势，并将修改其财务目标，包括宣布最新的销售预估。
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[SIME DARBY PROPERTY BERHAD: unbilled sales in hand remained at a healthy RM1.5 billion, coupled with a targeted pipeline of new launches. The Company’s bank balances also stood at RM925.5 million with solid cashflow from operations at RM120.5 million, while its net gearing ratio remained low at 0.26x]
The Group recorded profit before tax of RM10.9 million and PATAMI of RM14.2 million for the current quarter.
Property development segment recorded a profit of RM4.8 million as compared to RM71.8 million in the corresponding period. Development projects that performed better in the current quarter as compared to the corresponding period of the previous year include Elmina West, Subang Jaya City Centre, Ara Damansara and Nilai Utama township. Kota Elmina, the Group’s new township for industrial sub-segment, will commence to contribute to the Group’s result once the revenue recognition criteria for the industrial lots are fulfilled.
Property investment segment registered a profit of RM0.5 million as compared to RM6.6 million in the corresponding period of the previous year.
Leisure and hospitality:
Leisure and hospitality segment registered a higher loss of RM5.4 million as compared to RM4.8 million of the same quarter last year. Results were partially mitigated by the non-occurrence of operational overheads following the divestment of the loss-making overseas hospitality assets in the previous year.
The Group recorded profit before tax of RM10.9 million and a PATAMI of RM14.2 million for the current quarter.
The performance of property development segment declined significantly from a profit of RM118.3 million in the preceding quarter to RM4.8 million in current quarter.
Property investment segment registered a profit of RM0.5 million as compared to a loss of RM3.9 million in the preceding quarter. The improvement in performance were attributable to higher contribution from facilities and asset management services and lower pre-opening expenditure of KL East Mall.
Leisure and hospitality:
Leisure and hospitality recorded lower loss of RM5.4 million as compared to RM11.3 million in the preceding quarter. The improved results were mainly due to lower maintenance and other expenses incurred by TPC, KL compared to the preceding quarter.
The impact to the property sector may be partially cushioned by the massive fiscal stimulus amounting to 2% of GDP and the reduction of the Overnight Policy Rate for the fourth time this year, bringing the benchmark interest rate to 1.75%. These policy actions are expected to support the domestic economic activities.
The Company’s immediate priorities for the year will be on cashflow management, active marketing and sales campaigns, inventory management, and cost reduction. The Company will prioritise key projects that deliver value to the stakeholders and focus on launching products that are priced competitively, in meeting customers’ needs.
In line with the Government’s incremental lifting of the MCO, the Company is in the midst of commencing construction works. Construction sites will be activated in phases, in compliance with relevant regulatory requirements. Strict operating guidelines including the social distancing etiquette have been adopted to ensure seamless operations. The Company, as a leading industry player will work in tandem with Ministry of Housing & Local Government as well as other relevant agencies on industry matters, including the securing of Extension of Time (EOT) for the handover of ongoing projects.
Moving forward, the Company will streamline its efforts to promote the right product launches as well as improve on processes and systems. This would enable the Company to become more agile and adaptable to respond to the fast-paced challenges of these current times.
The Company will also prioritise its area of focus to what will make a difference for 2020, in particular strengthening its resilience. Sime Darby Property will continue to monitor the situation and will revise its financial targets, including announcement of latest sales estimates, once there is more clarity of the situation.
In weathering the storm, the Company remains confident in its financial position, as reflected by its strong track record and a robust balance sheet. As at 31 March 2020, unbilled sales in hand remained at a healthy RM1.5 billion, coupled with a targeted pipeline of new launches. The Company’s bank balances also stood at RM925.5 million with solid cashflow from operations at RM120.5 million, while its net gearing ratio remained low at 0.26x.
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