UEM Sunrise narrows loss to RM7.37 mln in Q2

KUALA LUMPUR, UEM Sunrise Bhd has narrowed its loss to RM7.37 million for the second quarter (Q2) ended June 30, 2021, compared to RM94.66 million loss in the same quarter last year.

Its revenue jumped to RM249.14 million from RM111.96 million recorded previously, it said in a filing with Bursa Malaysia today.

In a statement, UEM Sunrise said the company recorded an improved revenue of RM502 million for the first six months of 2021 compared to RM308 million in the same period last year.

“The performance was driven by higher construction progress and billings mainly from Residensi Solaris Parq in Dutamas, Aspira ParkHomes in Gerbang Nusajaya, Serene Heights in Bangi and higher sales of Estuari Gardens in Puteri Harbour.

“In tandem with the revenue, the company recorded an operating profit of RM41 million compared to a loss of RM38 million in the same period last year,” it said.

The company said property sales improved substantially to RM707 million in the current period compared to RM151 million in the same period last year following the spillover of the positive momentum in the second half of 2020.

UEM Sunrise chief executive officer Sufian Abdullah said the enforcement of the recent containment measures may affect sales performance as sales galleries were closed for most of the previous quarter.

“We are unable to construct show units to feature our latest launch, KAIA Heights, the RM655 million gross development value high-rise development in Equine Park, Selangor.

“Fortunately for us, our digitalisation efforts have been reasonably effective. The incentives offered under our sales programmes such as the partnership with Maybank Islamic’s HouzKEY programme and the Home Ownership Campaign have also helped our sales performance and we will continue to leverage on them,” he said.

Source: BERNAMA News Agency