UEM Sunrise aims for 5-6% profit margin growth this year

KUALA LUMPUR: UEM Sunrise Bhd, previously known as UEM Holdings Bhd, targets to grow its profit margin by 5 to 6% this year upon the acquisition of Sunrise Bhd.

The company recorded a profit after tax of RM448.4 million for the financial year ended Dec 31, 2012, up by 49 per cent from RM301.7 million in the previous financial year.

Managing Director Datuk Wan Abdullah Wan Ibrahim said the target is on average margin as the group is currently undertaking diversified projects.

"The vision that we have developed for UEM Sunrise reflects our ambitions and sets the tone for the company as a whole, permeating through our organisation and guiding our approach to expanding our business as well as our corporate social responsibility efforts," he told a media briefing here today.

Wan Abdullah said the UEM Sunrise brand encapsulates both UEM Land and Sunrise heritage and expertise reflecting a stronger, refreshed and unified entity that aspires to deliver value to shareholders, customers and employees by focusing on customer service, innovation and re-engineering.

"These changes are vital in securing the future of our company, allowing us to build communities of the future and create value for our shareholders, customers and employees.

"The benefits from our successful integration can already be seen through the economies of scale realised that have allowed for better terms for materials and services, as well as access to a larger pool of technical expertise," he added. - Bernama