Chairman's Message

TUN MUSA HITAM Chairman

Excerpts from Annual Report 2010

OPERATING ENVIRONMENT

Strong economic recovery

Following signs of recovery in the global economic environment in 2010, Malaysia's economy has also been recovering significantly from the year before. As a result, UMLand also joined the wave of domestic economic optimism by reporting encouraging results for FY2010. As a result, both our Township and Niche Division did well.

FINANCIAL PERFORMANCE

Better results

In the year under review, the Group's revenues recorded a 52% surge from RM208.5 million for FY2009 to RM316.9 million for FY2010, while pre-tax profits rose 18% from RM62.9 million to RM74.3 million.

DIVIDEND

Commitment to reward shareholders

Total gross dividend for FY2010 was 7.65 sen per ordinary share, bringing the total net dividend to 7.50 sen per ordinary share.

HIGHLIGHTS

Value Enhancing Transformation

The Group's commitment to ongoing value creation for its customers also continued unabated. Down south in Iskandar Malaysia, the Group's flagship township development, Bandar Seri Alam has in a strategic move been transformed into a "City of Knowledge". To earn this recognition, the Group had brought into Seri Alam, the Masterskill University College of Health Sciences, Universiti Teknologi Mara, Universiti Kuala Lumpur, Mara Junior Science College and the Malaysian Art School. These institutions together with the proposed HELP University campus and Raffles International College, will truly transform and position Seri Alam as an education hub.

OUTLOOK IN 2011

Sustaining growth

The continued growth in domestic demand, favorable fiscal market conditions and positive government initiatives augur well for a near and longer-term outlook for the property sector.

Several government-announced initiatives, including the Economic Transformation Programme, will propel the country into a high-income nation by 2020, which will ultimately be translated into greater disposable income and purchasing power and have a significant stimulus impact on the property market.

UMLand will continue to capitalize on our competitive advantages, including choice locations; market-driven and quality product offerings; experienced and dedicated personnel, to sustain continued interest from both local and foreign investors in our current and future developments.

To read the entire statement, please refer to UMLand's 2010 Annual Report here

TUN MUSA HITAM
Chairman