bulletin board - Bina Puri

Message
OUR PERFORMANCE SO FAR
Much has been mentioned of the Group’s business performance and
expectation in the previous messages, and most recently in the Company’s
Annual Report. But we cannot stop emphasizing the need for better efforts
and higher productivity in order to improve the performance of the Group.
PROFIT BEFORE TAXATION
(RM Million)
30
25
20
15
10
5
0
2011 2010 2009 2008 2007
But the Management feels
strongly that this can be
improved on with more genuine
efforts and resources put into
implementation of projects.
Whether the Group can sustain
its profitability path depends on
improvement of our present
working system which includes
planning, strategizing, execution
and management of daily works
while supported by dedicated
leadership, teamwork and a
pleasant working environment.
The full report of the Group’s
performance for year 2011 was
commendable in that we
managed to be profitable for a
12th consecutive year since
1999. This is no easy feat. 2011
profit before tax of RM25.8
million increased by 83% as
compared to RM14.1 million in
the previous year. Shareholders’
equity also increased by 15% to
RM129.0 million in comparison
to 2010 which stood at
RM110.0 million. This is against
the backdrop that our turnover
for the last two years has very
much been construction driven.
SHAREHOLDERS’ EQUITY
(RM Million)
150
120
90
60
30
0
2011 2010 2009 2008 2007
ON-GOING AND FUTURE PROJECTS
For the ongoing works, I have been repeatedly reminding all project teams
to work diligently and effectively to ensure that project milestones and
targets are met without compromising on the quality and safety standards
required at all times. We look forward to completion of several projects this
year including the Mayland Regalia Apartment, PGA Camp in Muar, Pulapol,
Plaza Merdeka, the Haven in Ipoh and the Abstract Condominium in
Bangkok.
With projects such as KLIA 2 and LRT Ampang Packages putting our Group
at the forefront of the construction industry, it is imperative that we deliver
these two landmark projects successfully. Although we have not secured
any new projects since up to end May 2012 other than the Karachi-
Hyderabad Pakistan Highway in January 2012, bear in mind that the Group
is confident of adding new projects to our order book before the year closes.
PROPERTY DIVISION EFFORTS
To date, the Group has built up a portfolio of almost RM1.6 billion in gross
development value (GDV). But it is of no use if these projects are not off the
ground. The development team must find ways to expedite the launching of
these projects under our portfolio as planning and getting approval can only
take so long. As I mentioned previously, we do not want story tellers in the
Group of why things cannot be done but rather we want pro-active team
members to get things done.
So far, out of the 9 development projects under our stable, only Laman Vila
in Mon’t Kiara has successfully been launched with an encouraging take-up
at 30%. We are in the midst of rushing out the show unit to be ready by
September/ October to further assist in the sales. Other such projects as the
Main Place Residence @ USJ21, Puri Tower in Puchong, Medini Square and
Petrie Villa in Johor Bahru as well as the Jesselton View and One Jesselton
in Kota Kinabalu and a joint-venture development in Miri have yet to take
off. The latest addition within the Group is another new property
development in Jalan Tallala, Kuala Lumpur. It will be 2 blocks of 36-storey
service apartments. We believe that with the right product at the right price
at the right location, all these projects once implemented will contribute
significantly to the Group.
Future
development at
Jalan Tallala,
Kuala Lumpur
AWARD AND APPRECIATION
The Group had a pleasant start to the year by winning the International
Achievement Award category at the Malaysian Construction Industry
Excellence Award (MCIEA) 2011 by CIDB in February this year. It was in
recognition of the successful completion of the 2,000 units housing scheme
in Brunei Darussalam. Well done to the Project Team!!
This was followed by another prestigious award at the BrandLaureate –
Best Brand Awards 2011-2012 for Construction Sector in May. This shows
that the Group is doing something right in showcasing our Bina Puri Brand.
The Bina Puri Brand has gained tremendous recognition over the last few
years. Previously, only those involved in the construction industry would
know us, but recently, more people and industry players not within our
industry have taken notice of us. This will naturally have a spillover on
whatever the Group embarks on, especially our property development
project as the Bina Puri brand name carries with it a certain goodwill.
For all these awards, my deepest appreciation goes to all staff members of
the Group who have been working untiringly and whose continuous support
and commitment have led to this significant achievement. Thus, my heartiest
congratulations to all the winners of the Best Employees and Best Site
Award 2011 which has just been announced a few weeks ago. May all of
you set the right example and become an inspiration for the others to
continuously improve on their performance and together we shall achieve
greater excellence in our overall business accomplishment.
I also wish to remind all staff that the company will always strive to improve
the welfare of its staff and this include the various recent revisions made to
the Group Policy with regards to staff allowances, medical and insurance
benefit, sexual harassment policy, training activities and many others. All
these are additional cost to the company, of which we expect to receive
what is expected of you when you first joined the Group, which is to work
harder, smarter, speedier and with the right attitude.
ACTIVE KELAB SUKAN & SOSIAL
Our Kelab Sukan & Sosial Bina Puri has always been the best platform for
the staff to interact among ourselves. Taking this opportunity, I would like
to congratulate the new committee members who were elected during the
recent 17th Annual General Meeting of the club in March 2012. I believe the
new line-up will continue its tradition to serve the members and in
organizing many interesting activities within the Group.