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6 SUNWAY CITY BERHAD ANNUAL REPORT REPORT 2008 CHAIRMAN’S STATEMENT Employees of SunCity at Training Session Sunway Pyramid management team with Mr Ngeow Voon Yean standing proud for having won the Inaugural Asia Shopping Centre Award SunCity’s management team at The Edge’s Top Property Developers Awards ceremony
TALENT MANAGEMENT PROGRAMME Effective talent management has always been a top priority at SunCity, in our goal to employ, train and retain the best of human capital. In recognition of our efforts, the Sunway Group was ranked sixth in the Hewitt Associates’ Top Companies for Leaders 2007 – Asia Pacific, making us the only Malaysian organisation to make it to the top 10 out of the 500 companies shortlisted from the wider Asian region. To carry out our ambition to internationalise – to go global – SunCity will continue to identify and train qualified employees to embark on assignments across the region to power our overseas expansion efforts. This will be achieved through our proven and effective talent management programmes which will also add value to our employees by propelling them into international cross-border careers. GOOD CORPORATE CITIZENSHIP Corporate Governance SunCity has won the National Annual Corporate Report Awards (NACRA) in 2007 from Bursa Malaysia Berhad, Malaysian Institute of Accountants (MIA), Malaysian Institute of Management (MIM) and Malaysian Institute of Certified Public Accountants (MICPA) for our Annual Report 2007. SunCity is proud to be recognised as being best-in-class in terms of our corporate governance reporting, and is committed to maintaining international standards of accountability and transparency in compliance with our governing authorities and shareholders’ expectations alike. Corporate Responsibility (“CR”) Besides instituting best practices in corporate governance, SunCity continues to play a significant role in the proliferation of CR activities. In line with the Sunway Group’s CR vision of harnessing the power of human capital, SunCity plays a crucial role in providing a safe and sustainable external environment within which our best assets, our people, may thrive to their full potential. We contribute to society’s well being through the Sunway Safe City Initiative and also believe in a sustainable marriage between development and our green environment by establishing eco-friendly products. SunCity also supports other Sunway Group CR activities that focus on human capital excellence, by participating in educational, socio-economic, healthcare and community relations programme. MARKET OUTLOOK World economies and investor sentiments have been dampened as a result of the US financial crisis, coupled with the persistence of high inflation across the globe. Many countries in the region have been affected and Malaysia has not been spared by this downturn. However, despite these uncertainties, our country has become more resilient to external factors due to improved corporate governance, strong domestic demand and diversification of our export market. Through this climate of economic uncertainty, SunCity is ever cognisant of the need for prudent management and has put in place all measures necessary to mitigate and minimise any substantial risks to its position. Despite these challenging times ahead, I also believe that there are still unique opportunities for SunCity to expand its wings and we will be ready to capitalise on these channels when the times are right. DIVIDEND Despite the challenging economic outlook, the Directors are pleased to propose a final dividend of 5 sen per ordinary share of RM1.00 each for the financial year ended 30 June 2008. APPRECIATION On behalf of the Board, I would like to express my gratitude to the management and staff of SunCity for their commitment and contributions made throughout the years. It is your efforts that have made SunCity what it is today, and I am confident that you will remain an integral part of the success formula in our journey towards global metamorphosis. I would also like to extend my appreciation to our valued customers, business associates, bankers, government authorities and shareholders for your continuous support in SunCity. Yours Sincerely, Tan Sri Dato’ Seri Dr Cheah Fook Ling, AO Executive Chairman 16 October 2008 7 SUNWAY CITY BERHAD ANNUAL REPORT 2008
Page 2 and 3: Global Metamorphosis Sunway City Be
Page 4 and 5: Vision A premier property company f
Page 6 and 7: 2 SUNWAY CITY BERHAD ANNUAL REPORT
Page 23 and 24: Financial Highlights Segmental Perf
Page 25 and 26: PROPERTY DEVELOPMENT Revenue RM721m
Page 27 and 28: Consolidated Income Statement 5-Yea
Page 29 and 30: Sustaining its Net Cash Flow Consol
Page 31: KLCI 1500 1450 1400 1350 1300 1250
Page 43 and 44: Key Business Segments Property Deve
Page 45 and 46: The internationally-acclaimed Resor
Page 47 and 48: Landbank Acquired in 2008 In 2008,
Page 49 and 50: Responsible Developer As a responsi
Page 51 and 52: After 10 years of success, Sunway P
Page 53 and 54: 2008 MILESTONE: • Sunway Carnival
Page 55 and 56: No. of guestrooms 1,234 Room occupa
Page 57 and 58: FUTURE PLANS: • An integrated wel
Page 59 and 60: Park Size 128acres Visitorship 1.6m
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Specialist Consultation Suites 59cl
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60 SUNWAY CITY BERHAD ANNUAL REPORT
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Corporate Governance Corporate Gove
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The Board met 7 times during the fi
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RE-APPOINTMENT, RETIREMENT BY ROTAT
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The details of the Directors’ rem
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The management of the Company shall
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(v) Conveying, selling, leasing, tr
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TERMS OF REFERENCE OF REMUNERATION
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(iii) in the event such Option Hold
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FORMATION The Audit Committee was f
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(c) The quarterly results and year
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INTRODUCTION The Malaysian Code on
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ENTERPRISE RISK MANAGEMENT In SunCi
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The information set out below is di
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SunCity believes in accountability,
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Sunway City Berhad (87564-X) Level
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