UM LAND ... July 09

UNITED MALAYAN LAND is reassessing its strategies to mitigate the impact of the global and domestic conomic slowdown. In an EXCHANGE filing Jun 24, 2009, UM LAND Group CEO - ANTHONY YAP said said financial year 2008 had been challenging for the Group.

" .... A combination of low consumer sentiment, economic slowdown and volatile market conditions coupled with a rise in the costs of doing business had affected the Group's overall performance ...." he said.

ASSET DISPOSALS
He said the Group was focusing on its programme to dispose of certain non-core development land in the townships to strategic partners. " .... This strategy will also contribute to the Group's profits, cash flow and enhance the values of the townships' existing development land bank .... The exercise has started at Bandar Seri Alam in Johor which is emerging as a major educational hub with the recent disposal of land parcels to institutions such as MARA COLLEGE, UNIVERSITI KL and UNIVERSITI TEKNOLOGI MARA ...." he said.

YAP added that these institutions of higher learning, together with the presence of 'Regency Medical Centre', Eastern District Police Headquarters and TESCO hypermarket, would have a positive spin-off on the township. He said leasing activities at the township were being expanded to include completed stock.

" .... To date a total of 324 residential units and medium low-cost shophouses have been tenanted in addition to land leases to TESCO, MCDONALD's and TODAY's MARKET ...." he said.

YAP said the Company would also continue to take proactive steps, such as reviewing existing products, revising the launching schedules of new products and downsizing new products. " .... The steps are to ensure sustainability and growth of the Group in order to remain resilient in the face of the challenges ahead ...." he said.

UM LAND's Revenue declined to RM172.1m in for FYE 2008 from RM396.8m recorded in the previous financial year.