ANNUAL REPORT 2017

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6 5 4 Our Business Strategy Our Business 3 2 1 by Group Managing Director Managing Group by Management Discussion and Analysis and Analysis Discussion Management anniversary of its inception with much fanfare. The township continues to draw interest due to mass, critical in increase an access, road improved the affordability of its properties and CMS’ superior Centre road, Administrative Federal build quality. The linking Bandar to Matang too continues to provide a positive pull effect for the residential and commercial properties from a larger population base. Bandar Samariang can now also lay claim to having the first water theme park in Kuching, with the Borneo Samariang Resort City project under Sentoria theme park in slated to open its water Group Berhad 1Q 2018. As at end FY 2017, a total of 4,432 residential units and 180 shop-houses under Phase 1 covering some 600 acres within the township had been completed to provide PBS aims by PBS. In the immediate future, 596 units of affordable housing under Phase 2, in line with the Government’s call for more housing for the people. Development Sdn Bhd provides project management Development Sdn Bhd provides project management whilst services to companies within the Division Division’s also undertaking the development of the held by other land banks. The sizeable land banks growth in the Division provide sustainable long-term and tandem with the steadily urbanising population the needs of Kuching city itself. Bandar Samariang 7km Bandar Samariang is located approximately easy is within and centre city the Kuching from Santubong. reach of the resort areas of Damai and integrated Home to more than 25,000 residents, this homes, residential of a variety encompasses township a commercial centre and schools, with the scenic Santubong Mountain as its backdrop. On 26 August 2017, PBS celebrated the 20 ). The SIP is the largest industrial park in Malaysia). The SIP is the largest industrial park million SIP million RM47.22 Profit Before Tax Revenue RM200.27 Property Development Division Development Property Rivervale Residences DEVELOPMENT ACTIVITIES WITHIN THE THE WITHIN ACTIVITIES DEVELOPMENT KUCHNG OF VICINTY Within the vicinity of Kuching, the Property Development Division is responsible for the Bandar Samariang and The Isthmus developments. Bandar Samariang comes under the ambit of Projek Bandar Samariang Sdn Bhd (PBS), whilst The Isthmus is vested with CMS Land Sdn Bhd. Meanwhile, CMS Property For FY 2017, the Property Development Division posted a revenue of RM200.27 million (FY 2016: million RM47.22 of PBT and million) RM104.66 windfall a registering million), RM23.51 2016: (FY increase in revenue and PBT of 91% and 101% increase the to due mainly was This respectively. Residences the Rivervale in revenue recognition of housing project and the Raintree Square commercial project, and, additionally, the rental income from a hypermarket in Bandar Samariang. in Petra Jaya named Bandar Samariang, and a 246-acre land bank in Muara Tebas called The Isthmus. On top of this, land bank in Muara Tebas called Bandar Samariang, and a 246-acre in Petra Jaya named also responsible some other smaller parcels within Kuching. The Division is the Division is also tasked with developing commercial/service hub, light industrial park, workers’ accommodation,for the development of a new township, the Industrial Park ( a hotel and ancilary services within The Group’s Property Development Division is the custodian of two land banks in Kuching – a 3,911-acre land bank custodian of two land banks in Kuching Development Division is the The Group’s Property and one of the five growth nodes under the Corridor of Renewable Energy (SCORE) initiative.and one of the five growth nodes