According to a press statement on Tuesday (Mar 1), Yong will assume leadership of the business in Malaysia, driving the strategy, growth and operations across Lendlease’s development, investments and construction businesses in the country. The appointment follows incumbent Stuart Mendel’s return to Australia after seven years in Malaysia.

In a statement Tuesday (March 1), the developer said Phase 1A1 was launched during the second quarter of last year, while Phase 1A2 was soft-launched in January 2022.

The property segment recorded a 40% increase in revenue to RM188.2 million, and pre-tax profit swelled by 2.5 times to RM54.7 million, compared with 3QFY21. These revenue and pre-tax profit were mainly derived from ongoing projects, as well as a higher share of profits from the group's joint venture projects, MSQ and Agile-Mont Kiara.

Quarterly revenue rose 13.67% year-on-year (y-o-y) to RM537.42 million from RM472.78 million. The company proposed a first and final dividend of 2.65 sen per share, which is equivalent to a 4% dividend yield based on its closing price of 66 sen on Feb 24.

In a virtual briefing on Monday (Feb 28), Tee said the group is targeting to attain an annual revenue of RM1 billion, which is comparable with its performance before the Covid-19 pandemic hit, which was followed by various forms of lockdowns and restrictions implemented as preventive measures by the government to stop the virus' spread.

Revenue however slipped 7.28% to RM1.03 billion, from RM1.11 billion, on lower contributions from its property development segment, the group said in a filing with Bursa Malaysia.

In a bourse filing, the group said its quarterly revenue soared 68.5% to RM317.34 million from RM188.39 million in the corresponding quarter of the previous year.

“We continue to be very optimistic on both our healthcare and international segments. We are looking at a 20% to 30% increase in terms of new order book wins in 2022,” its chief strategy officer Rais Imran told the press after the virtual briefing for UEM Edgenta’s fourth quarter (4QFY21) and full-year financial performance (FY21).

This resulted in lower earnings per share of 2.29 sen for 2QFY22 compared with 3.1 sen for 2QFY21, according to the group’s filing.

In 4QFY20, the group benefited from the disposal of two parcels of land in Johor Baru for a combined RM157.4 million.