perspective perspective - ChartNexus

a fresh
perspective
perspektif baru
U n i t e d M a l a y a n L a n d B h d
(Company No. 4131-M)
annual report 2005
laporan tahunan

when you
start looking
at things from
new angles...
Apabila anda meneliti dari pelbagai perspektif...
A FRESH PERSPECTIVE
A new vision and sense of purpose has emerged at UM Land. Gaining from fresh
perspectives and new zeal, the corporation has re-aligned its vision, mission and
goals with the view of becoming a property developer of distinction. The stage
is set and the players are ready. Our passion for innovation and quality is set
to colour the lives of homeowners and investors.
PERSPEKTIF BARU
UM Land telah mencorak peralihan senario yang baru dengan
mewujudkan pendekatan yang lebih eksklusif dalam visinya. Untuk
mencapai kejayaan yang berterusan, Kumpulan telah menggariskan
semula visi, misi dan matlamatnya bagi menjadikan UM Land
sebuah pemaju hartanah yang terunggul. Pelan tindakan telah
disusun. Matlamat utama telah diselarikan. Adalah menjadi
cita-cita kami di UM Land agar innovasi dan kualiti mampu
mewarnai kehidupan para pemilik rumah dan pelabur.
On the cover gambar muka depan
“Rumah Impiana” Bandar Seri Alam
Photo taken at sunrise
Gambar diambil sewaktu mentari terbit

...you gain
new insights
...anda akan memperolehi pemahaman baru

there
comes a time
to stop...
Adakalanya, kita perlu berhenti seketika...
and look at
where we are
going.
sebelum mengorak langkah seterusnya

VISION wawasan
to be a property developer of distinction,
creating quality lifestyles and communities.
Untuk menjadi pemaju hartanah terunggul
yang mewujudkan gaya hidup berkualiti dan
komuniti bersepadu.
MISSION matlamat
to develop a brand that represents quality
and innovation which creates value and
is the preferred choice.
Untuk mencipta jenama yang melambangkan
nilai kualiti dan inovasi yang tinggi serta menjadi
pemaju hartanah pilihan utama.
UNITED MALAYAN LAND BHD

That time is now.
OVERVIEW
It’s time for a facelift. A metamorphosis as
UM Land transforms itself into a dynamic
developer with stronger brand positioning
and a portfolio of designer homes.
A time to
check and
update our map.
Masa untuk mengkaji semula
kemajuan yang dicapai dan
memperbaiki hala tuju kita.
A time to
discover
better routes.
Kini tibalah masanya.
KESIMPULAN
Masa untuk mencari
sumber dan idea baru.
Kini tiba masanya untuk UM Land mengorak langkah
melalui metamorfosis yang bakal dilihat dapat
memperkukuhkan lagi kedudukan sebagai pemaju
dinamik yang bereputasi tinggi dalam pembangunan
kediaman-kediaman eksklusif.

inside kandungan mukasurat
annual report ‘05
6 Corporate Information
6 Maklumat Korporat
8 Board of Directors’ Profile
8 Profil Lembaga Pengarah
16 Senior Management
16 Pengurusan Kanan
18 Message from Our New Chairman
19 Perutusan daripada Pengerusi Baru
20 Letter to Shareholders
26 Perutusan Kepada
Para Pemegang Saham
32 Corporate Structure
32 Struktur Korporat
33 Transforming to make
a difference
43 Transformasi untuk mencipta
kemajuan
54 Corporate Calendar
54 Kalendar Korporat
59 Financial Calendar
59 Kalendar Kewangan
60 Five-Year Group Financial Highlights
60 Prestasi Kewangan Kumpulan
Bagi Lima Tahun
62 Corporate Governance Statement
86 Penyata Urusan Tadbir Korporat
68 Statement on Internal Control
92 Penyata Kawalan Dalaman
70 Audit Committee Report
94 Laporan Jawatankuasa Audit
73 Additional Compliance Information
97 Maklumat Pematuhan Tambahan
78 List of Properties
102 Senarai Hartanah
80 Analysis of Shareholdings
80 Analisa Pegangan Saham
83 Notice of Annual General Meeting
104 Notis Mesyuarat Agung Tahunan
107 Financial Statements
151 Penyata Kewangan
Form of Proxy
Borang Proksi

6
Corporate
INFORMATION
Chairman
Pengerusi
Joint Deputy Chairman
Naib Pengerusi Bersama
Joint Deputy Chairman / Executive Director
Naib Pengerusi Bersama / Pengarah Eksekutif
Also Alternate Director to Juga Pengarah Gilir kepada
Encik Lui Chong Chee
Alternate Director to Pengarah Gilir kepada
Dr Choo Kian Koon
BOARD OF DIRECTORS lembaga pengarah
YBhg Tan Sri Dato’ Musa bin Hitam
Encik Lui Chong Chee
YBhg Dato’ Ng Eng Tee
YBhg Datuk Mohd Khamil bin Jamil
Resigned as Director on 31 March 2006
Meletak jawatan sebagai Pengarah pada 31 Mac 2006
YBhg Datuk Syed Ahmad Khalid bin Syed Mohammed
YB Datuk Nur Jazlan bin Tan Sri Mohamed
Dr Choo Kian Koon
Resigned as Director on 17 March 2006
Meletak jawatan sebagai Pengarah pada 17 Mac 2006
Tuan Syed Azmin bin Mohd Nursin @ Syed Nor
Appointed as Director on 3 May 2006
Dilantik sebagai Pengarah pada 3 Mei 2006
Encik Ng Eng Soon
YBhg Dato’ Mohd Hanafiah bin Omar
Encik Soong Hee Sang
Appointed as Director on 22 March 2006
Dilantik sebagai Pengarah pada 22 Mac 2006
Puan Rita Lau Chen Chen
Resigned as Alternate Director on 17 March 2006
Meletak jawatan sebagai Pengarah Gilir pada 17 Mac 2006
COMPANY SECRETARY setiausaha syarikat
Puan Zuraidah Mohd Yusoff (MAICSA 7001552)

maklumat korporat
7
REGISTERED OFFICE
pejabat berdaftar
Suite 1.1, 1st Floor
Kompleks Antarabangsa
Jalan Sultan Ismail
50250 Kuala Lumpur
Tel No : 03-2142 1611
Fax No : 03-2142 1826
SHARE REGISTRAR
pendaftar saham
Securities Services (Holdings) Sdn Bhd
Level 7, Menara Milenium
Pusat Bandar Damansara
Damansara Heights
50490 Kuala Lumpur
Tel No : 03-2084 9000
Fax No : 03-2094 9940
AUDITORS
juruaudit
PricewaterhouseCoopers
11th Floor, Wisma Sime Darby
Jalan Raja Laut
50350 Kuala Lumpur
PRINCIPAL BANKERS
bank-bank utama
OCBC Bank (Malaysia) Berhad
Alliance Bank Malaysia Berhad
Bumiputra-Commerce Bank Berhad
Malayan Banking Berhad
STOCK EXCHANGE LISTING
penyenaraian bursa saham
Main Board Papan Utama,
Bursa Malaysia Securities Berhad
Stock Code : UMLAND
Stock No : 4561
UNITED MALAYAN LAND BHD

8
from left to right
YBhg Tan Sri Dato’ Musa bin Hitam
YBhg Dato’ Ng Eng Tee
Encik Lui Chong Chee
BOARD OF DIRECTORS’
Profile
YBhg Tan Sri Dato’ Musa bin Hitam, aged 71 and a Malaysian, was appointed as an Independent Non-Executive Director and
Chairman of UM Land on 26 January 2006. He is also Chairman of the Executive Committee of UM Land.
Tan Sri Musa held a number of key government posts, including Chairman of Federal Land Development Authority (FELDA),
Deputy Minister of Trade & Industry, Minister of Primary Industries and Minister of Education before becoming Malaysia’s fifth Deputy
Prime Minister and Minister of Home Affairs from 1981 to 1986. Between 1990 and 1991, he was Malaysia’s Special Envoy to the United
Nations and from 1995 to 2002 he was the Prime Minister’s Special Envoy to the Commonwealth Ministerial Action group. Tan Sri Musa
also led the Malaysian delegations to the UN Commission on Human Rights from 1993 to 1998 and was elected Chairman of the 52nd
Session of the Commission in 1995.
Tan Sri Musa obtained his Bachelor of Arts degree from the University of Malaya and Masters degree in International Relations from
the University of Sussex, United Kingdom. He served briefly as Senior Lecturer at the University Malaya and was a Fellow at the Centre
for International Affairs, Harvard University, United States of America. He is currently a Fellow of the Malaysian Institute of
Management, Chairman of the Malaysia/China Business Council and Co-Chairman of the ASEAN/China Eminent Persons Group.
He is also Chairman of Eminent Persons Group to draft the ASEAN Charter and Chairman of the World Islamic Economic Forum.
He is also currently the Chairman of Kumpulan Guthrie Berhad and Lion Industries Corporation Berhad, both companies listed on
the Main Board of Bursa Malaysia Securities Berhad.
Tan Sri Musa has no family relationship with any director or major shareholder of UM Land. He has never been charged for any
offences and does not have any conflict of interest with UM Land.
YBhg Tan Sri Dato’ Musa bin Hitam, berusia 71 tahun dan seorang warganegara Malaysia, telah dilantik sebagai Pengarah Bebas
Bukan Eksekutif dan Pengerusi UM Land pada 26 Januari 2006. Beliau juga adalah Pengerusi Jawatankuasa Eksekutif bagi UM Land.
Tan Sri Musa telah menjawat beberapa jawatan kanan kerajaan, termasuk Pengerusi Lembaga Kemajuan Tanah Persekutuan
(FELDA), Timbalan Menteri Perdagangan & Industri, Menteri Perusahaan Utama dan Menteri Pendidikan sebelum menjadi Timbalan
Perdana Menteri Malaysia yang kelima dan Menteri Hal Ehwal Dalam Negeri dari tahun 1981-1986. Di antara tahun 1990 dan 1991, beliau
menjadi Utusan Khas Malaysia kepada Pertubuhan Bangsa-bangsa Bersatu dan dari tahun 1995 hingga 2002, beliau menjadi Utusan
Khas Perdana Menteri kepada Kumpulan Bertindak Menteri-menteri Komanwel. Tan Sri Musa juga telah memimpin delegasi Malaysia
ke Suruhanjaya Hak Asasi Manusia UN dari tahun 1993 hingga 1998 dan telah dipilih sebagai Pengerusi bagi Sesi Suruhanjaya ke-52,
pada tahun 1995.
Tan Sri Musa memiliki Ijazah Sarjana Muda Sastera dari Universiti Malaya dan Ijazah Sarjana pengkhususan dalam bidang
Perhubungan Antarabangsa dari Universiti Sussex, United Kingdom. Beliau turut berkhidmat sebagai Pensyarah Kanan di Universiti
Malaya dan ahli Fellow di Pusat Hal Ehwal Antarabangsa, Universiti Harvard, Amerika Syarikat. Kini, beliau adalah ahli Fellow di
Institut Pengurusan Malaysia, Pengerusi Majlis Perniagaan Malaysia/Cina dan Pengerusi Bersama Kumpulan Tokoh-tokoh Utama
ASEAN/Cina. Beliau juga adalah Pengerusi Kumpulan Tokoh Utama bagi merangka Piagam ASEAN dan Pengerusi Forum Ekonomi
Islam Sedunia.
Tan Sri Musa juga adalah Pengerusi bagi Kumpulan Guthrie Berhad dan Lion Industries Corporation Berhad, kedua-dua syarikat
yang disenarai di Papan Utama Bursa Malaysia Securities Berhad.
Tan Sri Musa tidak mempunyai sebarang pertalian kekeluargaan dengan mana-mana pengarah atau pemegang saham utama
UM Land. Beliau tidak pernah disabit dengan sebarang kesalahan dan tiada sebarang konflik kepentingan dengan UM Land.

YBhg Dato’ Ng Eng Tee, aged 56, a Non-Independent Executive
Director joined the UM Land Board on 31 October 1995 as
Managing Director and Group Chief Executive Officer until he
relinquished the position in January 2001. He assumed his current
position as Joint Deputy Chairman/Executive Director on
28 August 2002.
Dato’ Ng is a member of the Remuneration Committee,
Tender Board Committee, Risk Committee and the Executive
Committee of UM Land. A Singapore citizen, he graduated from
Singapore Polytechnic. Besides UM Land, Dato’ Ng is the
Managing Director of Chee Tat Holdings (Singapore) Pte Ltd.
He also sits on the Board of several private limited companies
in Malaysia.
Dato’ Ng is also the President of King George Financial
Corporation and a Director of Allied Hotel Properties
Incorporated, both listed on the Canadian Stock Exchange. He is
also a founding life member of the Presidents Club of Simon
Fraser University.
Other than as disclosed, Dato’ Ng does not have any family
relationship with any director or major shareholder of UM Land.
He has never been charged for any offences and does not have any
conflict of interest with UM Land.
YBhg Dato’ Ng Eng Tee, berusia 56 tahun, merupakan
Pengarah Eksekutif Bukan Bebas dan menyertai Lembaga
Pengarah UM Land pada 31 Oktober 1995 sebagai Pengarah
Urusan dan Ketua Pegawai Eksekutif Kumpulan sehingga
beliau melepaskan jawatan tersebut pada Januari 2001. Beliau
menyandang jawatannya kini sebagai Naib Pengerusi Bersama/
Pengarah Eksekutif pada 28 Ogos 2002.
Dato’ Ng adalah ahli Jawatankuasa Imbuhan, Jawatankuasa
Lembaga Tender, Jawatankuasa Risiko dan Jawatankuasa
Eksekutif UM Land. Dato’ Ng, seorang warganegara Singapura
adalah bekas graduan Politeknik Singapura. Selain dari UM Land,
beliau juga adalah Pengarah Urusan Chee Tat Holdings
(Singapore) Pte Ltd dan turut menganggotai Lembaga Pengarah
beberapa syarikat persendirian di Malaysia.
Di samping itu, Dato’ Ng juga merupakan Presiden King
George Financial Corporation dan Pengarah Allied Hotel
Properties Incorporated, kedua-duanya disenarai di Bursa Saham
Kanada. Beliau juga adalah pengasas dan ahli sepanjang hayat
Kelab Presiden Universiti Simon Fraser.
Selain dari apa yang dinyatakan, Dato’ Ng tidak mempunyai
sebarang pertalian kekeluargaan dengan mana-mana pengarah
atau pemegang saham utama UM Land. Beliau tidak pernah
disabit dengan sebarang kesalahan dan tiada sebarang konflik
kepentingan dengan UM Land.
profil lembaga pengarah
9
Encik Lui Chong Chee, aged 45 and a Singaporean, is the Joint
Deputy Chairman of UM Land. He joined the UM Land Board as a
Non-Independent Non-Executive Director on 1 August 2005. He is
also a member of the Remuneration Committee of UM Land.
He is currently the Chief Executive Officer of CapitaLand
Residential Limited, a company incorporated in the Republic of
Singapore, which is a wholly owned subsidiary of CapitaLand
Limited. Prior to this, he was the Chief Financial Officer of
CapitaLand Limited.
He graduated from New York University, United States
of America with a Bachelor of Science in Business Administration
(magna cum laude). He also holds a Master in Business
Administration from New York University.
Lui Chong Chee does not have any family relationship with
any director or major shareholder of UM Land except by virtue of
being a nominee of CapitaLand. He has never been charged for
any offences and does not have any conflict of interest with
UM Land.
Encik Lui Chong Chee, berusia 45 tahun dan seorang
warganegara Singapura, adalah Naib Pengerusi Bersama
UM Land. Beliau menyertai Lembaga Pengarah UM Land sebagai
Pengarah Bukan Bebas Bukan Eksekutif pada 1 Ogos 2005. Beliau
juga adalah ahli Jawatankuasa Imbuhan UM Land.
Beliau kini adalah Ketua Pegawai Eksekutif CapitaLand
Residential Limited, sebuah syarikat yang diperbadankan
di Republik Singapura, yang merupakan syarikat subsidiari milik
penuh CapitaLand Limited. Beliau pernah menjawat sebagai
Ketua Pegawai Kewangan CapitaLand Limited sebelum ini.
Beliau memiliki Ijazah Sarjana Muda Sains (magna cum
laude) dalam bidang Pentadbiran Perniagaan dan Ijazah
Sarjana Pentadbiran Perniagaan dari Universiti New York,
Amerika Syarikat.
Lui Chong Chee tidak mempunyai sebarang pertalian
kekeluargaan dengan mana-mana pengarah atau pemegang
saham utama UM Land kecuali sebagai pengarah nomini
CapitaLand. Beliau tidak pernah disabit dengan sebarang
kesalahan dan tiada sebarang konflik kepentingan dengan
UM Land.
UNITED MALAYAN LAND BHD

10 BOARD OF DIRECTORS’ PROFILE (cont’d)
YBhg Datuk Mohd Khamil bin Jamil, aged 50 was appointed to the UM Land Board as a Non-Independent Non-Executive Director
on 20 February 2004. He was the Chairman of the Risk Committee and a member of the Tender Board Committee of UM Land.
He started his executive career with Bank Bumiputra Malaysia Bhd from August 1980 until November 1989. He is a Barrister-at-Law
at Gray’s Inn, England and was called to the English Bar in 1983 and the Malaysian Bar in September 1990. He was a practicing partner
of several legal firms before venturing into business in 2001.
Datuk Mohd Khamil is also director of DRB-Hicom Berhad, a company listed on the Main Board of Bursa Malaysia Securities Berhad.
Datuk Mohd Khamil, a Malaysian citizen holds a Bachelor of Law (Honours) Degree from University of London.
Datuk Mohd Khamil has no family relationship with any director or major shareholder of UM Land except by virtue of being
a nominee of Tradewinds Corporation Berhad. He has never been charged for any offences and does not have any conflict of interest
with UM Land.
He has resigned as Director on 31 March 2006.
YBhg Datuk Mohd Khamil bin Jamil, berusia 50 tahun, telah dilantik untuk menganggotai Lembaga Pengarah UM Land sebagai
Pengarah Bukan Bebas Bukan Eksekutif pada 20 Februari 2004. Beliau merupakan bekas Pengerusi Jawatankuasa Risiko dan ahli
Jawatankuasa Lembaga Tender UM Land.
Beliau telah memulakan kerjayanya di Bank Bumiputra Malaysia Bhd dari Ogos 1980 hingga November 1989. Sebagai seorang
Barrister di Gray’s Inn, England, beliau menjadi ahli di Badan Peguam Inggeris dalam tahun 1983 dan Badan Peguam Malaysia pada
September 1990. Beliau merupakan rakan kongsi beberapa firma guaman sebelum menceburkan diri dalam bidang perniagaan pada
tahun 2001.
Datuk Mohd Khamil juga adalah pengarah DRB-Hicom Berhad, sebuah syarikat yang disenarai di Papan Utama Bursa Malaysia
Securities Berhad.
Datuk Mohd Khamil, seorang warganegara Malaysia, memegang Ijazah Sarjana Muda Undang-undang (Kepujian) dari
Universiti London.
Datuk Mohd Khamil tidak mempunyai sebarang pertalian kekeluargaan dengan mana-mana pengarah atau pemegang saham
utama UM Land kecuali sebagai pengarah nomini Tradewinds Corporation Berhad. Beliau tidak pernah disabit dengan sebarang
kesalahan dan tiada sebarang konflik kepentingan dengan UM Land.
Beliau meletak jawatan sebagai Pengarah pada 31 Mac 2006.

from left to right
YBhg Datuk Mohd Khamil bin Jamil
Encik Ng Eng Soon
YBhg Dato’ Mohd Hanafiah bin Omar
profil lembaga pengarah (samb.)
Encik Ng Eng Soon, aged 48 and a
Singaporean, joined the UM Land Board as a
Non-Independent Non-Executive Director on 31
October 1995. He is currently the Executive
Director of Chee Tat Holdings (Singapore) Pte
Ltd and is the brother of YBhg Dato’ Ng Eng Tee.
He graduated from the London School of
Economics, United Kingdom with a Bachelor of
Science Degree majoring in Economics.
Other than as disclosed, he has no family
relationship with any director or major
shareholder of UM Land except by virtue of
being a nominee of Chee Tat Holdings
(Singapore) Pte Ltd. He has never been charged
for any offences and does not have any conflict
of interest with UM Land.
11
Encik Ng Eng Soon, berusia 48 tahun dan
seorang warganegara Singapura, menyertai
Lembaga Pengarah UM Land sebagai Pengarah
Bukan Bebas Bukan Eksekutif pada 31 Oktober
1995. Beliau kini merupakan Pengarah
Eksekutif Chee Tat Holdings (Singapore) Pte
Ltd dan adalah adik kepada Dato’ Ng Eng Tee.
Encik Ng telah menamatkan pengajiannya
dari London School of Economics, United
Kingdom dengan memiliki Ijazah Sarjana Muda
Sains pengkhususan di dalam bidang Ekonomi.
Selain dari apa yang dinyatakan, Encik
Ng tidak mempunyai sebarang pertalian
kekeluargaan dengan mana-mana Pengarah
atau pemegang saham utama UM Land kecuali
sebagai pengarah nomini Chee Tat Holdings
(Singapore) Pte Ltd. Beliau tidak pernah disabit
dengan sebarang kesalahan dan tiada sebarang
konflik kepentingan dengan UM Land.
YBhg Dato’ Mohd Hanafiah bin Omar, aged 61, is an Independent Non-Executive Director of UM Land. He was appointed to the
UM Land Board on 10 January 2005 and is a member of the Risk Committee.
He started his career with the Ministry of Finance as an officer in its Finance Division (External) Federal Treasury in 1968 and had
held several positions before his appointment as the first Director of the Bumiputra Coordination and Participation Unit, Prime
Minister’s Department, Penang in 1977. In 1983, he was appointed as the first General Manager of Penang Regional Development
Authority and was subsequently appointed as the Head of Task Force on Privatisation, Economic Planning Unit in 1986. He became the
Deputy Secretary General of the Ministry of Land and Regional Development, from 1989 to 1991. In 1991, he joined Arab Malaysian
Development Berhad (AMDB) as a Senior General Manager (Corporate) and was subsequently an Executive Director of AMDB. He was
an Executive Director of Indah Water Konsortium Sdn Bhd from 1998 to 2000. Previously, he was the Chairman and Director of
Integrated Rubber Corporation Berhad (formerly known as Berjuntai Tin Dredging Berhad).
Dato’ Mohd Hanafiah, a Malaysian citizen holds a Bachelor of Arts (Honours) from University of Malaya and Diploma in Economics
from University of Colorado, United States of America and Masters in Business Administration (Finance) from Michigan State
University, United States of America.
YBhg Dato’ Mohd Hanafiah bin Omar, berusia 61 tahun, adalah Pengarah Bebas Bukan Eksekutif UM Land. Beliau
telah dilantik untuk menganggotai Lembaga Pengarah pada 10 Januari 2005 dan adalah ahli Jawatankuasa Risiko.
Beliau telah memulakan kerjayanya dengan Kementerian Kewangan sebagai pegawai di Bahagian Kewangan (Luar),
Perbendaharaan Persekutuan pada tahun 1968 dan pernah memegang beberapa jawatan sebelum dilantik sebagai Pengarah pertama
Unit Penyelarasan dan Penyertaan Bumiputra di Jabatan Perdana Menteri, Pulau Pinang pada tahun 1977. Dalam tahun 1983, beliau
telah dilantik sebagai Pengurus Besar pertama bagi Lembaga Kemajuan kawasan Pulau Pinang dan seterusnya dilantik sebagai Ketua
Pasukan Petugas bagi Penswastaan, Unit Perancangan Ekonomi dalam tahun 1986. Beliau menjadi Timbalan Setiausaha Agung
di Kementerian Kemajuan Tanah dan Wilayah, dari tahun 1989 hingga 1991. Pada tahun 1991, beliau telah menyertai Arab Malaysian
Development Berhad (AMDB) sebagai Pengurus Besar Kanan (Korporat) dan kemudiannya sebagai Pengarah Eksekutif AMDB. Beliau
juga telah memegang jawatan Pengarah Eksekutif Indah Water Konsortium Sdn Bhd dari tahun 1998 hingga 2000. Sebelum ini,
beliau menjawat jawatan Pengerusi dan Pengarah Integrated Rubber Corporation Berhad (dahulunya dikenali sebagai Berjuntai Tin
Dredging Berhad).
Dato’ Mohd Hanafiah, seorang warganegara Malaysia, memegang Ijazah Sarjana Muda Sastera (Kepujian) dari Universiti Malaya
dan Diploma dalam bidang Ekonomi dari Universiti Colorado, Amerika Syarikat serta Ijazah Sarjana Pentadbiran Perniagaan
(Kewangan) dari Universiti Michigan, Amerika Syarikat.
UNITED MALAYAN LAND BHD

12 BOARD OF DIRECTORS’ PROFILE (cont’d)
YB Datuk Nur Jazlan bin Tan Sri Mohamed, aged 40 joined
the UM Land Board on 19 October 1994 as an Independent Non-
Executive Director. He is a member of the Audit Committee and
Nomination Committee of UM Land.
Datuk Nur Jazlan, a Malaysian citizen, is a fellow member of
the Association of Chartered Certified Accountants (ACCA),
United Kingdom. He was a Council Member and Chairman
of Public Relations Committee of Malaysian Institute of
Accountants as well as Council Member of the ASEAN Federation
of Accountants until September 2005.
In addition to his corporate experience, Datuk Nur Jazlan is
also active in politics. He is the Head of UMNO Pulai, Johor and
also Chairman of Barisan Nasional for the division. He was an
EXCO member of UMNO Youth from 1996 to 2004. He was elected
as a Member of Parliament for Pulai Parliamentary Constituency
(Johor) in the last General Election held in March 2004. He is also
Secretary of foreign affairs committee and the economics and
finance committee of the Backbenchers Club of Parliament.
He also sits on the Board of Telekom Malaysia Berhad (TM),
a company listed on the Main Board of Bursa Malaysia Securities
Berhad. He is a member of the Board of Commissioners of PT
Excelcomindo Pratama, Indonesia and Chairman of Multinet
Pakistan (Private) Limited, subsidiaries of TM. Datuk Nur Jazlan
is also a Director of Prinsiptek Corporation Berhad.
Datuk Nur Jazlan has no family relationship with any
director or major shareholder of UM Land. He has never been
charged for any offences and does not have any conflict of interest
with UM Land.
YB Datuk Nur Jazlan bin Tan Sri Mohamed, berusia
40 tahun, menyertai Lembaga Pengarah UM Land pada
19 Oktober 1994 sebagai Pengarah Bebas Bukan Eksekutif. Beliau
adalah ahli Jawatankuasa Audit dan Jawatankuasa Pencalonan
UM Land.
Datuk Nur Jazlan, seorang warganegara Malaysia, adalah ahli
Fellow kepada Association of Chartered Certified Accountants
(ACCA), United Kingdom. Beliau pernah memegang jawatan Ahli
Majlis dan Pengerusi Jawatankuasa Perhubungan Awam bagi
Institut Akauntan Malaysia serta Ahli Majlis Persekutuan Akauntan
ASEAN sehingga September 2005.
Di samping pengalaman korporatnya, Datuk Nur Jazlan turut
aktif dalam bidang politik. Beliau adalah Ketua UMNO Pulai,
Johor dan Pengerusi Barisan Nasional bahagian tersebut. Beliau
merupakan ahli EXCO Pemuda UMNO dari tahun 1996 hingga
2004. Pada Pilihan Raya Agung yang diadakan pada Mac 2004,
beliau telah dilantik sebagai Ahli Parlimen Kawasan Parlimen
Pulai (Johor). Beliau juga merupakan Setiausaha jawatankuasa
hal ehwal luar negeri dan jawatankuasa ekonomi dan kewangan
bagi Kelab Ahli Parlimen.
Beliau juga turut menganggotai Lembaga Pengarah Telekom
Malaysia Berhad (TM), sebuah syarikat yang disenarai di Papan
Utama Bursa Malaysia Securities Berhad. Di samping itu, beliau
juga adalah ahli Lembaga Pesuruhjaya PT Excelcomindo
Pratama, Indonesia dan Pengerusi Multinet Pakistan (Private)
Limited yang merupakan syarikat-syarikat subsidiari TM. Datuk
Nur Jazlan juga adalah Pengarah Prinsiptek Corporation Berhad.
Datuk Nur Jazlan tidak mempunyai sebarang pertalian
kekeluargaan dengan mana-mana pengarah atau pemegang
saham utama UM Land. Beliau tidak pernah disabit dengan
sebarang kesalahan dan tiada sebarang konflik kepentingan
dengan UM Land.
YBhg Datuk Syed Ahmad Khalid bin Syed Mohammed,
aged 56, joined the UM Land Board as an Independent
Non-Executive Director on 19 October 1994. He is also the
Chairman of the Audit Committee and a member of the
Nomination Committee of UM Land.
Besides UM Land, he is also the Chairman of Century
Logistics Holdings Berhad, a company listed on the Second Board
of Bursa Malaysia Securities Berhad.
Datuk Syed Ahmad Khalid, a Malaysian citizen graduated
from the University of Ohio, United States of America with a
Masters Degree majoring in Economics and International Trade
and Finance.
Datuk Syed Ahmad Khalid has no family relationship with
any director or major shareholder of UM Land. He has never been
charged for any offences and does not have any conflict of interest
with UM Land.
YBhg Datuk Syed Ahmad Khalid bin Syed Mohammed,
berusia 56 tahun, menyertai Lembaga Pengarah UM Land
sebagai Pengarah Bebas Bukan Eksekutif pada 19 Oktober 1994.
Beliau juga merupakan Pengerusi Jawatankuasa Audit dan ahli
Jawatankuasa Pencalonan UM Land.
Selain dari UM Land, beliau juga adalah Pengerusi Century
Logistics Holdings Berhad, sebuah syarikat yang disenarai di
papan kedua Bursa Malaysia Securities Berhad.
Datuk Syed Ahmad Khalid, seorang warganegara Malaysia
telah menamatkan pengajiannya di Universiti Ohio, Amerika
Syarikat dengan Ijazah Sarjana pengkhususan di dalam bidang
Ekonomi dan Perdagangan dan Kewangan Antarabangsa.
Datuk Syed Ahmad Khalid tidak mempunyai sebarang
pertalian kekeluargaan dengan mana-mana Pengarah atau
pemegang saham utama UM Land. Beliau juga tidak pernah
disabit dengan sebarang kesalahan dan tiada sebarang konflik
kepentingan dengan UM Land.

Dr Choo Kian Koon, aged 54, joined the UM Land Board
as a Non-Independent Non-Executive Director on 1 January 2003.
He was a member of the Executive Committee, Audit Committee
and Tender Board Committee of UM Land.
Dr Choo was the Senior Vice President, Malaysia Investment,
at CapitaLand Residential Limited. He has worked as an estates
officer with the Singapore Ministry of Defence and was a senior
lecturer with the National University of Singapore. He was also
with property consultants Richard Ellis and Jones Lang LaSalle
where he has held several senior local and regional positions. He
is a Fellow of the Singapore Institute of Surveyors and Valuers, a
member of the Royal Institution of Chartered Surveyors, and an
affiliate of the Singapore Institute of Planners.
Dr Choo, a Singapore citizen, graduated in 1974 from the
University of Singapore with a Bachelor of Science in Estate
Management. He also holds a Masters Degree in Environmental
Planning from the University of Nottingham, United Kingdom,
and a PhD (Urban Planning) with a Certificate of Achievement in
Urban Design from the University of Washington, United States
of America.
Dr Choo has no family relationship with any director or major
shareholder of UM Land except by virtue of being a nominee of
CapitaLand. He has never been charged for any offences and does
not have any conflict of interest with UM Land.
He resigned as Director on 17 March 2006.
profil lembaga pengarah (samb.)
from left to right
13
Dr Choo Kian Koon, berusia 54 tahun, menyertai Lembaga
Pengarah UM Land pada 1 Januari 2003 sebagai Pengarah Bukan
Bebas Bukan Eksekutif. Beliau merupakan bekas ahli
Jawatankuasa Eksekutif, Jawatankuasa Audit dan Jawatankuasa
Lembaga Tender UM Land.
Dr Choo merupakan bekas Naib Presiden Kanan, Pelaburan
Malaysia, di CapitaLand Residential Limited. Beliau pernah
berkhidmat sebagai pegawai estet di Kementerian Pertahanan
Singapura dan sebagai pensyarah kanan di Universiti
Kebangsaan Singapura. Beliau juga pernah menyandang
beberapa jawatan kanan setempat dan serantau ketika
berkhidmat dengan Richard Ellis dan Jones Lang La Salle.
Beliau merupakan ahli Fellow Singapore Institute of Surveyors
and Valuers, ahli Royal Institution of Chartered Surveyors dan
anggota gabungan Singapore Institute of Planners.
Dr. Choo, seorang warganegara Singapura, telah
menamatkan pengajiannya di Universiti Singapura pada tahun
1974 dan memiliki Ijazah Sarjana Muda Sains dalam bidang
Pengurusan Estet. Beliau juga memegang Ijazah Sarjana
Perancangan Alam Sekitar dari Universiti Nottingham, United
Kingdom dan memiliki Kedoktoran (Perancangan Bandar)
dengan Sijil Pencapaian di dalam Seni Reka Perbandaran dari
Universiti Washington, Amerika Syarikat.
Dr. Choo tiada sebarang pertalian kekeluargaan dengan
mana-mana pengarah atau pemegang saham utama UM Land
kecuali sebagai pengarah nomini CapitaLand. Beliau tidak
pernah disabit dengan sebarang kesalahan dan tiada sebarang
konflik kepentingan dengan UM Land.
Beliau meletak jawatan sebagai Pengarah pada 17 Mac 2006.
YB Datuk Nur Jazlan bin Tan Sri Mohamed
YBhg Datuk Syed Ahmad Khalid bin Syed Mohammed
Dr Choo Kian Koon
UNITED MALAYAN LAND BHD

14
BOARD OF DIRECTORS’
PROFILE (cont’d)
Encik Soong Hee Sang, aged 47 and a Singaporean, joined the
UM Land Board on 5 September 2005 as an alternate director to
Encik Lui Chong Chee.
He is currently the Chief Executive Officer of CapitaLand
Residential (New Markets) and Deputy Chief Executive Officer,
Finance and Corporate Services of CapitaLand Residential
Limited. Prior to this, he was with CapitaCommercial Trust as
CEO and CapitaLand Commercial Limited as Deputy CEO and
MD, Office and Industrial.
Soong Hee Sang graduated from National University of
Singapore with Bachelor of Science in Estate Management
(Honours) and holds a Master in Business Administration from
National University of Singapore.
He has no family relationship with any director or major
shareholder of UM Land except by virtue of being a nominee of
CapitaLand. He has never been charged for any offences and does
not have any conflict of interest with UM Land.
He was appointed as Director on 22 March 2006. He remains as
alternate director to Encik Lui Chong Chee.
Encik Soong Hee Sang, berusia 47 tahun dan seorang
warganegara Singapura, menyertai Lembaga Pengarah UM Land
sebagai pengarah gilir kepada Encik Lui Chong Chee, pada
5 September 2005.
Beliau kini merupakan Ketua Pegawai Eksekutif CapitaLand
Residential (Pasaran Baru) dan Timbalan Ketua Pegawai
Eksekutif, Kewangan dan Perkhidmatan Korporat bagi
CapitaLand Residential Limited. Sebelum ini, beliau berkhidmat
sebagai Ketua Pegawai Eksekutif CapitaCommercial Trust dan
Timbalan Ketua Pegawai Eksekutif serta Pengarah Urusan,
Pejabat dan Industri bagi CapitaLand Commercial Limited.
Encik Soong Hee Sang memiliki Ijazah Sarjana Muda Sains
(Kepujian) dalam bidang Pengurusan Estet dan Ijazah Sarjana
Pentadbiran Perniagaan dari Universiti Kebangsaan Singapura.
Beliau tiada sebarang pertalian kekeluargaan dengan
mana-mana pengarah atau pemegang saham utama UM Land
kecuali sebagai pengarah nomini CapitaLand. Beliau tidak
pernah disabit dengan sebarang kesalahan dan tiada sebarang
konflik kepentingan dengan UM Land.
Beliau telah dilantik sebagai Pengarah pada 22 Mac 2006.
Beliau kekal sebagai pengarah gilir kepada Encik Lui Chong Chee.
Puan Rita Lau Chen Chen, aged 39, joined the UM Land Board on
21 July 2004 as an alternate director to Dr Choo Kian Koon.
She is currently the Senior Vice President, Corporate
Development & Finance of CapitaLand Residential Limited. She
was with Pidemco Land Limited before its merger with DBS Land
Limited to form CapitaLand Limited.
Prior to this, she was with Banque National de Paris Singapore as
Assistant Vice President. She started her career with the Singapore
Auditor - General’s Office where she also assumed the position of
Assistant Secretary to the Council of Presidential Advisors.
Rita Lau, a Singapore citizen, graduated from the National
University of Singapore with a Bachelor of Science in Chemistry
(Second Upper Honours) in 1991. She also holds a Master of Business
Administration (Distinction) from Imperial College, London.
Rita Lau has no family relationship with any director or
major shareholder of UM Land except by virtue of being a
nominee of CapitaLand. She has never been charged for any
offences and does not have any conflict of interest with UM Land.
She resigned as an alternate director to Dr Choo Kian Koon on
17 March 2006.
Puan Rita Lau Chen Chen, berusia 39 tahun, menyertai
Lembaga Pengarah UM Land pada 21 Julai 2004 sebagai
pengarah gilir kepada Dr Choo Kian Koon.
Beliau kini merupakan Naib Presiden Kanan, Pembangunan
& Kewangan Korporat CapitaLand Residential Limited. Beliau
pernah berkhidmat dengan Pidemco Land Limited sebelum
penggabungannya dengan DBS Land Limited untuk membentuk
CapitaLand Limited.
Sebelum ini, beliau pernah berkhidmat dengan Banque
National de Paris sebagai Penolong Naib Presiden. Beliau
memulakan kerjayanya di Pejabat Auditor Negara Singapura di
mana beliau telah menyandang jawatan Penolong Setiausaha
kepada Majlis Penasihat Presiden.
Puan Rita Lau, seorang warganegara Singapura telah
menamatkan pengajiannya dari Universiti Kebangsaan
Singapura dengan Ijazah Sarjana Muda Sains dalam bidang
Kimia (Kepujian Kelas Kedua) dalam tahun 1991. Beliau turut
memegang Ijazah Sarjana Pentadbiran Perniagaan (Kepujian)
dari Kolej Imperial, London.
Puan Rita Lau tidak mempunyai sebarang pertalian
kekeluargaan dengan mana-mana pengarah atau pemegang saham
utama UM Land kecuali sebagai pengarah nomini CapitaLand.
Beliau juga tidak pernah disabit dengan sebarang kesalahan dan
tiada sebarang konflik kepentingan dengan UM Land.
Beliau meletak jawatan sebagai pengarah gilir kepada
Dr Choo Kian Koon pada 17 Mac 2006.

*Not in picture
Tuan Syed Azmin bin Mohd Nursin @ Syed Nor,
a Malaysian, aged 43, was appointed as a Non-Independent
Non-Executive Director of UM Land Board on 3 May 2006.
He graduated with a Bachelor of Science, majoring in
Business Management from University of Berkeley, United States
of America. Upon his graduation in 1984, he has been involved
in several private business ventures which include trading
in commodities, housing development, manufacturing and
stock broking.
He was appointed as Executive Director of CN Asia
Corporation Berhad in 1997 until 2005, responsible for the
corporate affairs and business development. In 1999, he was one of
the Founders / Director of an IT company, Commerce Dot Com
Sdn Bhd which undertook one of the Government’s Electronic
Commerce Project, e-Perolehan.
He is currently an Executive Director of Amtek Holdings
Berhad, an Independent Non-Executive Director of Engtex
Group Berhad, a Non-Independent Non-Executive Director of
Tradewinds Corporation Berhad and Tradewinds (M) Berhad, all
companies listed on Bursa Malaysia Securities Berhad, and is also
Director and/or Shareholder of several private limited companies.
He does not have any family relationship with any director of
UM Land. He is a nominee of Tradewinds Corporation Berhad,
a major shareholder of UM Land and a brother of YBhg Tan Sri
Dato’ Syed Mokhtar Shah bin Syed Nor, a deemed substantial
shareholder of the Company. He has had no convictions for any
offences and does not have any conflict of interest with UM Land.
profil lembaga pengarah (samb.)
from left to right
Encik Soong Hee Sang
Puan Rita Lau Chen Chen
15
*Tiada dalam gambar
Tuan Syed Azmin bin Mohd Nursin @ Syed Nor,
berusia 43 tahun dan seorang warganegara Malaysia,
telah dilantik sebagai Pengarah Bukan Bebas Bukan Eksekutif
Lembaga Pengarah UM Land pada 3 Mei 2006.
Beliau adalah bekas graduan Universiti Berkeley, Amerika
Syarikat dengan Ijazah Sarjana Muda Sains pengkhususan dalam
bidang Pengurusan Perniagaan. Setelah tamat pengajian pada
tahun 1984, beliau terlibat di dalam beberapa perniagaan
persendirian termasuk perdagangan komoditi, pembangunan
hartanah, perkilangan dan pembrokeran saham.
Beliau telah dilantik sebagai Pengarah Eksekutif
CN Asia Corporation Berhad pada tahun 1997 sehingga 2005,
dimana beliau dipertanggungjawabkan untuk menguruskan hal
ehwal korporat dan pembangunan perniagaan. Pada tahun 1999,
beliau telah menjadi salah seorang daripada Pengasas / Pengarah
Commerce Dot Com Sdn Bhd, sebuah syarikat IT yang
mengendalikan Projek Elektronik Perdagangan Kerajaan,
e-Perolehan.
Beliau kini merupakan Pengarah Eksekutif Amtek Holdings
Berhad, Pengarah Bebas Bukan Eksekutif Engtex Group Berhad
serta Pengarah Bukan Bebas Bukan Eksekutif Tradewinds
Corporation Berhad dan Tradewinds (M) Berhad, kesemua
syarikat disenarai di Bursa Malaysia Securities Berhad. Beliau
juga adalah Pengarah dan/atau Pemegang Saham kepada
beberapa syarikat sendirian berhad.
Beliau tidak mempunyai sebarang pertalian kekeluargaan
dengan mana-mana pengarah UM Land. Beliau merupakan
pengarah nomini Tradewinds Corporation Berhad, pemegang
saham utama UM Land dan adik kepada YBhg Tan Sri Dato’
Syed Mokhtar Shah bin Syed Nor, seorang pemegang saham
berkepentingan besar Syarikat. Beliau tidak pernah disabit
dengan sebarang kesalahan dan tiada sebarang konflik
kepentingan dengan UM Land.
UNITED MALAYAN LAND BHD

16 pengurusan korporat
from left to right
Management –
Encik Mohd Dinniah Yusof
Senior General Manager, Tax
Pengurus Besar Kanan, Cukai
Cik Yap Man Ying
Senior Manager, Finance
Pengurus Kanan, Kewangan
Puan Aminah Abdullah
Assistant General Manager,
Group Human Resources
and Administration
Penolong Pengurus Besar,
Sumber Manusia Kumpulan
dan Pentadbiran
Encik Long Foo Lum
General Manager, Business Development
Pengurus Besar, Pembangunan Perniagaan
Corporate
Encik Pee Tong Lim
Acting Group Chief Executive Officer/
Director, Finance & Corporate
Pemangku Ketua Pegawai Eksekutif Kumpulan/
Pengarah, Kewangan & Korporat
Puan Zuraidah Mohd Yusoff
Assistant General Manager, Secretarial/Legal
Penolong Pengurus Besar, Kesetiausahaan/Perundangan
Cik Leong Chooi Kuen
Assistant General Manager,
Corporate, Tax Planning & Risk Management
Penolong Pengurus Besar,
Korporat, Perancangan Cukai & Pengurusan Risiko

Standing
from left to right
Encik Zulkifli Tahmali
Acting Director, Operations
Pemangku Pengarah, Operasi
United Malayan Land Bhd
Encik Cheong Ho Kuan
General Manager
Pengurus Besar
Seri Alam Properties Sdn Bhd
Encik Ng Tay Guan
General Manager
Pengurus Besar
Bangi Heights Development Sdn Bhd
Encik Abdul Aziz Abdul Hamid
Manager, Group Security
Pengurus, Keselamatan Kumpulan
United Malayan Land Bhd
YM Tengku Mahmood Tengku Ismail
General Manager, Group Technical Liaison
Pengurus Besar, Perhubungan Teknikal Kumpulan
United Malayan Land Bhd
Encik Koh Alan
General Manager
Pengurus Besar
Suasana Sentral Two Sdn Bhd
pengurusan operasi
Management –
Operations
Sitting
from left to right
Encik Chia Lui Meng
General Manager, Cost Management and Control
Pengurus Besar, Pengurusan Kos dan Kawalan
United Malayan Land Bhd
Encik Wong Kuen Kong
Acting General Manager
Pemangku Pengurus Besar
Dynasty View Sdn Bhd
Encik Lee Kar Fook
Assistant General Manager, Asset Management
Penolong Pengurus Besar, Pengurusan Aset
United Malayan Land Bhd
17
UNITED MALAYAN LAND BHD

18
message
from our new chairman
The year 2006 marks the onset
of a new phase of growth for
UM Land. Coming on board as the
new chairman in January 2006,
I am stepping on as the Group
takes off.
Capitalising on opportunities in niche
developments and joint ventures, I observe that
the Group has made its mark not only in
creating thriving townships, but also in
high-end city living - a popular and growing
trend in modern urban markets. It is thus an
opportune time for UM Land to reposition itself
and gain greater visibility.
It is indeed a great honour to lead the Group
forward into new horizons and outstanding
achievements.
I thank the Directors and everyone within this
organisation for the trust and confidence that
they have placed in me. I look forward to
working with my fellow members on the Board
and UM Land's dynamic management team,
making strides in positioning UM Land as
a progressive organisation and a developer
of distinction.
YBHG TAN SRI DATO’ MUSA BIN HITAM
Chairman

perutusan daripada pengerusi baru
19
Tahun 2006 menandakan permulaan fasa
kemajuan yang baru bagi UM Land. Pelantikan
saya sebagai pengerusi baru UM Land kini
seiring dengan perkembangan fasa baru ini.
Saya mendapati bahawa Kumpulan telah
berjaya memanfaatkan segala peluang yang
ada dalam kegiatan pembangunan usaha
sama dan khusus, untuk mewujudkan
bandar-bandar maju serta penginapan
eksklusif yang menawarkan impian gaya
hidup terkini. Pembangunan sebegini semakin
popular di pasaran urban moden. Maka
amatlah sesuai untuk UM Land mengorak
langkah baru untuk terus mengukuh dan
menyerlahkan kedudukan istimewa ini.
Saya merasa amat berbesar hati di atas
penghormatan yang telah diberi untuk
menerajui Kumpulan ke arah pencapaian baru
yang lebih dinamik.
Saya mengucapkan ribuan terima kasih
kepada para Pengarah dan semua ahli
organisasi atas kepercayaan dan keyakinan
yang telah diberikan kepada saya.
Saya berharapan untuk bekerjasama dengan
ahli Lembaga Pengarah dan pihak pengurusan
UM Land yang sungguh berkebolehan, untuk
terus mengekalkan kedudukan UM Land
sebagai sebuah organisasi yang progresif serta
pemaju yang terunggul.
YBHG TAN SRI DATO’ MUSA BIN HITAM
Pengerusi
UNITED MALAYAN LAND BHD

20
Letter to
Dear shareholders
On behalf of the Board of Directors of United
Malayan Land Bhd, it gives us great pleasure to
present to you the Annual Report and the Financial
Statements of the Company and the Group for the
financial year ended 31 December 2005.
Shareholders
IN BRIEF
2005 saw the global economy easing and Malaysia’s
economic growth moderating to a steady 5.3 per
cent. Amidst this background, it is our pleasure to
report that the Group accelerated to new heights as
it enjoyed a 30 per cent increase in revenue
and a heightened profile in towering high-end
developments. It was a year of expansion as we
embarked on joint ventures, land lease arrangement
and launched a new township as well as a niche
development project. All in all, a successful lead up
to 2006, as UM Land embarks on a repositioning
strategy to gain greater repute and recognition.
Of significant note, we are proud to welcome our
former Deputy Prime Minister of Malaysia YBhg
Tan Sri Dato’ Musa bin Hitam as our new chairman
this year. Shareholders of UM Land approved his
appointment at an extraordinary general meeting
held on 26 January 2006. Having dedicated time and
insights into reformulating a 5-year strategic
roadmap, UM Land, together with its management
team, is set to capitalise on his new leadership and
energy to see this plan through to fruition.

150.97
’01
Revenue Hasil
RM Million Juta
135.82
’02
A MACRO PERSPECTIVE
Profit Before Tax
Keuntungan Sebelum Cukai
RM Million Juta
Net Earnings per Share
Pendapatan bersih sesaham
Sen
After growing an impressive 7.1 per cent in 2004, the Malaysian economy registered a GDP growth of 5.3 per cent last
year (Source: BNM Fourth Quarter Report 2005). This was mainly due to the easing of global economic growth fuelled
by rising oil prices and a short-term slump caused by the technology down-cycle.
2005 was overall a mixed year where demand for mid-end mass housing was softening on a backdrop of increasing
supply whereas well-conceptualised lifestyle projects, especially high-end condominiums in prime sites within Klang
Valley and Kuala Lumpur city centre continued to attract market interest and registered respectable sales.
The residential property sector, despite its resilience, was increasingly competitive and many developers had to contend
with slower take-up rates and moderated earnings growth. While an overbuilt situation has emerged in the lower-priced
housing segment, particularly apartments in the RM150,000 to RM250,000 range, demand for landed properties in better
addresses remained good.
Competition among developers remained intense and this has given cause to developers to take stock and rethink
strategies to sustain profit growth. In this shift towards a buyers market, innovative designs in accessible locations, a
recognised brand name and strong marketing expertise are crucial factors in gaining a leading edge.
On the regulatory end, stringent measures taken against irresponsible developers resulted in more discerning home
buyers and investors. This trend has placed the Group in good standing with our consistent track record and our
emphasis in good customer service.
Suasana Sentral Loft
108.79
’03
164.85
’04
214.80
14.66
18.07
23.66
35.02
36.86
’05 ’01 ’02 ’03 ’04 ’05
4.3
4.4
6.1
8.9
12.6
’01 ’02 ’03 ’04 ’05
21
UNITED MALAYAN LAND BHD

22
Suasana Sentral Loft
DRIVING PERFORMANCE
For the financial year under review, the Group posted revenues of RM214.81 million, representing an increase
of RM49.96 million or 30 per cent compared to RM164.85 million in 2004. The increase in revenue was largely
contributed by the Group’s high-end condominium project, Suasana Sentral Loft, launched in early 2005 and
Seri Austin, a mixed township development in Mount Austin within the Tebrau growth corridor of Johor
Bahru, launched in July 2005.
Despite the positive growth in revenues, the Group’s profit before tax of RM36.86 million was only marginally
higher than that of 2004 financial year at RM35.02 million. Even though gross margins of products rolled out
during the year held up strongly, up front marketing and selling expenses for new projects of Suasana Sentral
Loft and Seri Austin in the face of intense competition has
somewhat moderated the increase in pre-tax profits. Further,
new set-ups in operating units of these developments
contributed to a rise in personnel expenses and related
overheads.
On the other hand, net profits of RM29.21 million achieved in
financial year 2005 was 42 per cent or RM8.64 million above
the RM20.57 million recorded in 2004. The boost at net profits
was attributed to lower taxes as a result of tax write-backs in
a subsidiary company. The higher net profits of the Group has
in turn led to an enhancement in earnings per share from
8.8 sen in 2004 to 12.6 sen in 2005, a healthy increase of over
43 per cent.

SHARING THE REWARDS
For the financial year ended 31 December 2005, the
Directors are pleased to propose a final gross dividend of
5.0 sen per share, less income tax, subject to the approval
of shareholders at the forthcoming Annual General
Meeting. Together with an interim gross dividend of
2.5 sen per share, less income tax, paid on 22 Feb 2006;
the total dividend for the financial year is 7.5 sen per
share less income tax.
CREATING NEW INROADS
It was an eventful year with several high points as the
Group reaped the harvest of its expansion strategy.
Along with new phases in its existing township
developments, UM Land’s smart partnership in creating
niche luxury lifestyle projects made the headlines. The
notable highlights of the year were:
• Launch of Suasana Sentral Loft luxury
condominiums
Introducing resort living in an urban setting, Suasana
Sentral Loft raised the bar of luxurious living when
it was launched in January 2005.
Azeanna Homes, Seri Austin
23
A sequel to the adjacent 100 per cent sold Suasana Sentral condominum, Suasana
Sentral Loft’s super sleek sensual style set pulses rising and registered 90 per cent take
up just within five months of its launch. This niche project is a result of UM Land’s
continued initiatives in seeking smart partnership opportunities with reputable
partners; in this case, Malaysian Resources Corporation Berhad.
• Launch of Seri Austin township
The promise of well designed properties with good value proved successful when
UM Land launched the township of Seri Austin, located within Mount Austin -
Tebrau growth corridor of Johor Bahru, in July 2005. Its first product, the single storey
“Mezza Homes” terrace houses with a mezzanine floor received overwhelming
response with 60 per cent sold on its first day of launch and 88 per cent sold to-date.
Later in November, in line with UM Land’s new aggressive marketing approach, a
carnival-style day-long celebration was held to unveil its impressive show village. The
event, which also featured new launches of its double-storey Azeanna and Azalea
terrace houses, attracted huge crowds.
• Handover of Seri Bukit Ceylon serviced residences
UM Land’s pioneering foray into niche developments and smart partnerships registered
much satisfaction with the successful handing over of Seri Bukit Ceylon serviced
residences in October 2005.
The Ascott International Management Group now manages 96 units of these serviced
residences under its Somerset brand name. The Ascott International Management
Group is a member of CapitaLand Group of Companies and also one of the world’s
leading serviced residences owner and operator. It has proven itself internationally
with serviced apartments extending across major cities in Asia, Australia, New
Zealand, UK and The Gulf Region.
The successful handover of this serviced residences project is an impetus for the Group
to invest in more of such developments with attractive returns and short gestation period.
• Joint venture with Bolton and CapitaLand on development of a landmark
residential project
Identifying a promising new development at the beginning of year 2006, UM Land
entered into a joint venture with Bolton and CapitaLand to acquire, develop and market
a 4.3-acre parcel of prime residential site located along Jalan Mayang and Jalan Yap
Kwan Seng. The joint venture would see UM Land and Bolton holding equal stakes of
35 per cent each whilst CapitaLand owns the balance of 30 per cent.
UNITED MALAYAN LAND BHD

24
Suasana Sentral Loft
This move signals UM Land’s determination to
capitalize opportunities through smart partnerships
with strategic landbank owners and successful
property companies following its remarkable
success in its joint venture with MRCB to develop
the Suasana Sentral Loft condominium project.
With Singapore’s CapitaLand as one of South East
Asia’s largest and experienced premier property
company; and Bolton’s unique insight in developing
high-end residential properties, the combined talent
and expertise of all three partners promises
outstanding results.
The site is one of the largest plots of land zoned for
residential development within the popular KLCC
vicinity. Taking advantage of the trend of high-end
city living, a landmark condominium is slated for
launch in 2007.
BRAVING NEW CHALLENGES
Although global uncertainties brought about
primarily by the upswing in oil prices have yet
to dissipate, the current stable political and
economic climate should cushion the impact well in
2006. Fiscal measures to boost the economy by
bringing forward some RM2.4 billion worth of
projects under the Ninth Malaysian Plan paves a
promising start to 2006, in which GDP is expected to
grow to 6 per cent (Source: Bank Negara Malaysia
2005 Annual Report).
UM Land looks forward to 2006 as a year of continued
promise even though the increase in interest rate
poses some challenges to the current conducive
consumer environment. Malaysia’s high savings rate
(36.4 per cent of gross national product) and a
budget focused on providing a more conducive and
enabling environment for the private sector, keep
prospects encouraging. Coupled with a young
demographic profile, declining average household
size and urban migration, we believe there is a
consistent and sustainable stream of house buyers to
maintain a stable and resilient property market.
Against this supportive environment, 2006 will be
a year for introduction of new strategies and
initiatives for the Group as we forge ahead with
development plans that are already in motion.
In our continuing spate of launches for existing
townships, we aim to create differentiation and raise
the appeal factor by building homes with unique
themes and identities. To achieve sales targets, more
emphasis will be placed on competitive pricing,
increasing brand awareness, enhancing customers
experience and improving marketing channels.
Well-conceptualised show villages, carnival-like sales
launches and impressive show interiors are steps we
have already taken to move towards this direction.
We are committed to explore more innovative
product designs and novel marketing techniques to
proactively create demand for our homes.
POWERING NEW DIRECTIONS
There is a saying that goes, “In movement there is
life. In change there is power.”
The exciting news this year is the exhilarating fresh
approaches the Group is embarking upon to power
dynamic growth by embracing a new vision and
mission. This is laid out in a five year (2006 - 2010)
Group strategic plan.
Our road map is driven by a growth strategy
encompassing aggressive marketing and branding,
product innovation, acquisition of strategic
landbanks and smart partnerships.
On the operations end, UM Land has embarked
on a productivity strategy focusing on core business
processes, human resources systems, information &
communication management and the implementation
of a performance-based remuneration system to
improve the quality of our human capital.
These constructive strategies are critical in lifting
our profile above the teeming field of competitors
and making UM Land a developer of distinction.

SURGING AHEAD
Refreshed. Recharged. We are ready to take a huge leap forward.
To lead us towards our new vision, we have the former Deputy Prime Minister of Malaysia YBhg Tan Sri Dato’
Musa bin Hitam on board as our new independent non-executive director and chairman. We are fortunate
to have someone of his calibre and track record to guide the Group. His visionary leadership will be a
tremendous asset in shaping the new face of UM Land.
Our appreciation goes to our outgoing Group Chief Executive Officer (CEO), Encik Wan Abdullah bin Wan
Ibrahim. His contribution and leadership has been essential in bringing UM Land to the forefront of a new
horizon and we wish him well in his future endeavours. In the interim, our Director, Finance and Corporate,
Encik Pee Tong Lim is covering all Group CEO’s duties.
Our vote of thanks to our fellow colleagues, YBhg Datuk Mohd Khamil bin Jamil, Dr Choo Kian Koon and
Puan Rita Lau Chen Chen who have resigned from the Board subsequent to the Company’s financial yearend.
The Group has certainly benefited from their wise counsel during their tenure on the Board. On a
similar note, we welcome Encik Soong Hee Sang and Tuan Syed Azmin bin Mohd Nursin @ Syed Nor as new
directors on the Board.
Our warm appreciation also goes to our fellow knowledgeable colleagues on the Board. We would like to
assure our stakeholders that the Board will continue to work with management to achieve our corporate
goals through sound business strategies, good management practices, and guided by the principles of
transparency and corporate governance.
And for standing by us and sharing our vision, we wish to thank our valued shareholders, business
associates and customers. Our heartfelt gratitude lies with our sterling employees. A ship does not reach its
port through focus alone, and their determination to realise our goals has empowered UM Land to cut
through challenging waters with ease and speed.
LUI CHONG CHEE
Joint Deputy Chairman
DATO’ NG ENG TEE
Joint Deputy Chairman/
Executive Director
25
UNITED MALAYAN LAND BHD

26
Perutusan kepada
Para Pemegang Saham
Para pemegang saham yang dihormati
Bagi pihak Lembaga Pengarah United Malayan Land Bhd, kami dengan sukacitanya, membentangkan Laporan
Tahunan serta Penyata Kewangan Syarikat dan Kumpulan bagi tahun kewangan berakhir 31 Disember 2005.
SECARA RINGKAS
Tahun 2005, menyaksikan kadar pertumbuhan ekonomi global mula menurun dan pertumbuhan ekonomi
Malaysia dinilai pada kadar selesa 5.3 peratus. Walau bagaimanapun, di sebalik keadaan ini, suka cita kami
melaporkan bahawa Kumpulan telah mencatat kejayaan yang cemerlang dengan peningkatan hasil Kumpulan
sebanyak 30 peratus dan profil pembangunan mewah kami juga bertambah baik. Tahun 2005, merupakan
tahun perkembangan dimana UM Land memasuki projek-projek usaha sama baru, pemajakan tanah serta
pelancaran sebuah bandar baru dan projek pembangunan khusus. Secara keseluruhannya, UM Land terus
berkembang maju memasuki tahun 2006 dengan perlaksanaan strategi baru telah dimulakan untuk
memperkukuhkan kedudukan Kumpulan dan mempertingkatkan reputasinya.
Kami dengan bangganya mengalukan pelantikan bekas timbalan Perdana Menteri Malaysia YBhg Tan Sri Dato’
Musa bin Hitam sebagai pengerusi baru kami. Para pemegang saham UM Land telah meluluskan pelantikan
beliau di mesyuarat agung luar biasa pada 26 Januari 2006. Dengan berdedikasikan masa dan semangat baru
dalam merangka semula pelan strategi 5-tahun, UM Land bersama pihak pengurusan dibawah pimpinan beliau
yakin dapat menjayakan perlaksanaan pelan strategi tersebut.

1,066.19
’01
Total Assets
Jumlah Aset
RM Million Juta
1,004.13
’02
978.48
’03
1,143.54
’04
1,191.83
711.21
Shareholders’ Equity
Ekuiti Pemegang Saham
RM Million Juta
713.08
719.57
733.97
746.40
’05 ’01 ’02 ’03 ’04 ’05
Net Tangible Assets per Share
Aset Ketara Bersih Sesaham
RM
3.07
3.08
3.10
3.16
3.22
’01 ’02 ’03 ’04 ’05
PERSPEKTIF MAKRO
27
Suasana Sentral Loft
Setelah menikmati pertumbuhan cemerlang sebanyak 7.1 peratus
dalam tahun 2004, ekonomi Malaysia mencatatkan pertumbuhan
GDP sebanyak 5.3 peratus tahun lepas (Sumber: Laporan Suku
Keempat BNM 2005). Punca utamanya adalah penurunan kadar
ekonomi global akibat kenaikan harga minyak dan kemerosotan
jangka pendek kitaran sektor teknologi.
Secara keseluruhan, tahun 2005 didapati agak berbeza di mana
permintaan untuk kediaman kelas sederhana telah menurun
sementara bekalannya pula semakin bertambah. Sementara itu,
permintaan untuk projek berkonsep penginapan eksklusif,
terutamanya kondominium-kondominium mewah di lokasi
unggul Lembah Klang dan pusat bandar raya Kuala Lumpur,
terus menarik minat pasaran dan mencatatkan penjualan
yang baik.
Sektor hartanah perumahan, walaupun kukuh, telah menjadi
semakin kompetitif. Kebanyakan pemaju memperolehi hasil
jualan lebih rendah dan pertumbuhan perolehan yang sederhana.
Walaupun segmen perumahan kos rendah-sederhana mengalami
keadaan terlebih bina terutamanya pangsapuri dalam lingkungan
harga RM150,000 hingga RM250,000 di pasaran, permintaan
untuk harta bertanah di lokasi-lokasi baik masih tinggi.
UNITED MALAYAN LAND BHD

28
Suasana Sentral Loft
Persaingan di kalangan pemaju kekal sengit dengan penyusunan semula strategi untuk berdaya saing bagi
mengukuhkan keuntungan. Keadaan ini telah memanfaatkan para pembeli kerana persaingan ini telah
menghasilkan pelbagai projek menarik dengan reka bentuk inovatif di lokasi-lokasi yang mudah diakses.
Pemaju juga telah menekankan kepentingan jenama yang bereputasi tinggi serta khidmat pakar pemasaran
yang cekap.
Undang-undang berhubung pemaju telah diperketatkan dan tindakan tegas diambil terhadap pemaju yang
tidak bertanggungjawab. Akibatnya, para pembeli dan pelabur menjadi semakin arif dalam pemilihan
mereka. Senario ini telah memanfaatkan Kumpulan kerana ia mempunyai rekod prestasi yang cemerlang
dengan khidmat pelanggan yang memuaskan.
ULASAN KEWANGAN
Bagi tahun kewangan yang ditinjau, Kumpulan telah mencatatkan hasil sebanyak RM214.81 juta, iaitu
kenaikan sebanyak RM49.96 juta atau 30 peratus berbanding RM164.85 juta dalam tahun 2004. Peningkatan
hasil ini khasnya sumbangan daripada projek kondominium mewah Kumpulan iaitu Suasana Sentral Loft
yang dilancarkan pada awal tahun 2005 dan pembangunan bandar bercampur Seri Austin di koridor maju
Mount Austin - Tebrau, Johor Bahru, yang dilancarkan pada Julai 2005.
Meskipun pertumbuhan hasil kekal positif, keuntungan sebelum cukai Kumpulan hanya meningkat
kepada RM36.86 juta berbanding RM35.02 juta pada tahun kewangan 2004. Ini kerana walaupun margin
kasar produk kekal kukuh sepanjang tahun, perbelanjaan tambahan untuk pemasaran dan penjualan bagi
projek-projek baru seperti Suasana Sentral Loft dan Seri Austin terpaksa dilaksanakan untuk menyaingi
pembangunan lain di pasaran. Di samping itu, unit-unit operasi yang ditubuhkan bagi menguruskan
projek-projek baru ini menyebabkan kos kakitangan dan kos-kos berkaitan turut bertambah.
Dalam pada itu, keuntungan bersih bagi tahun kewangan 2005 adalah sebanyak RM29.21 juta. Ini mewakili
peningkatan sebanyak 42 peratus atau RM8.64 juta lebih tinggi daripada RM20.57 juta yang dicatatkan
dalam tahun 2004. Pencapaian cemerlang ini berpunca terutamanya daripada cukai yang lebih rendah
selepas kemasukan kira semula cukai bagi sebuah syarikat subsidiari. Selaras itu, pendapatan sesaham
Kumpulan telah meningkat lebih daripada 43 peratus, iaitu daripada 8.8 sen dalam tahun 2004 kepada
12.6 sen dalam tahun 2005.
PENGAGIHAN KEUNTUNGAN
Bagi tahun kewangan berakhir 31 Disember 2005, para Pengarah dengan sukacitanya mencadangkan
pembayaran dividen kasar akhir sebanyak 5.0 sen sesaham, tolak cukai pendapatan, tertakluk kepada
kelulusan para pemegang saham di Mesyuarat Agung Tahunan yang akan datang. Bersama dividen interim
kasar sebanyak 2.5 sen sesaham, tolak cukai pendapatan dibayar pada 22 Februari 2006, jumlah keseluruhan
dividen bagi tahun kewangan ialah 7.5 sen sesaham, tolak cukai pendapatan.

PERISTIWA-PERISTIWA PENTING
Tahun lepas telah menyaksikan pelbagai peristiwa penting dan
pencapaian cemerlang dalam strategi perkembangan Kumpulan.
Di samping pembinaan fasa-fasa baru bagi pembangunan
bandaran sedia ada, UM Land telah mewujudkan beberapa
perkongsian pintar bagi menguruskan projek-projek gaya hidup
mewah. Antara pencapaian pentingnya adalah:
• Pelancaran Kondominium Mewah Suasana Sentral Loft
Projek Suasana Sentral Loft yang dilancarkan pada Januari 2005
telah membawa makna baru kepada konsep kehidupan urban
mewah. Seiring dengan kejayaan Kondominium Suasana Sentral
yang habis dijual sepenuhnya, projek Suasana Sentral Loft
menawarkan keunggulan gaya hidup yang diimpikan dan
berjaya mencatatkan jualan sebanyak 95 peratus dalam masa
hanya lima bulan selepas pelancarannya. Kejayaan projek
khusus ini adalah inisiatif gabungan perkongsian pintar di antara Kumpulan dan Malaysian Resources
Corporation Berhad, sebuah organisasi yang bereputasi.
• Pelancaran Seri Austin
Pada Julai 2005, UM Land telah mengotakan janjinya untuk menyediakan kediaman selesa dan unik yang
bernilai tinggi melalui pelancaran projek Seri Austin yang bertempat di koridor maju Mount Austin -
Tebrau, Johor Bahru. Produk pertamanya, ‘Mezza Homes’ rumah teres setingkat dengan tingkat
mezzanine, telah menerima sambutan hangat. 60 peratus unit berjaya dijual pada hari pelancarannya
sahaja dan setakat ini, jualan telah mencapai 88 peratus. Pada bulan November pula, seiring dengan
strategi pemasaran agresif UM Land, pelancaran rumah-rumah pamerannya telah dilaksanakan dalam
suasana karnival yang cukup meriah dan berjaya menarik minat ramai pembeli. Rumah teres dua tingkat
Azeanna dan Azalea turut dilancarkan pada hari yang sama.
• Penyerahan pangsapuri khidmat Seri Bukit Ceylon
Projek khusus dan usaha perkongsian pintar pertama UM Land iaitu pangsapuri khidmat Seri Bukit
Ceylon telah menunjukkan prestasi yang sungguh memuaskan dilihat daripada penyerahannya pada
bulan Oktober 2005.
Kini, 96 buah unit pangsapuri khidmat tersebut diuruskan oleh Ascott International Management Group,
di bawah jenama Somerset. Ascott International Management Group merupakan ahli Kumpulan
CapitaLand dan terkenal sebagai salah satu pemilik dan pengurus kediaman pangsapuri khidmat yang
terkemuka di dunia. Keunggulan Ascott telah terbukti di peringkat antarabangsa dengan kejayaannya
menguruskan beberapa hotel dan pangsapuri khidmat yang mewah di bandar-bandar utama di Asia,
Australia dan New Zealand, UK serta “The Gulf Region”.
Kejayaan penyerahan projek pangsapuri khidmat ini telah mendorong Kumpulan untuk terus melabur di
dalam projek-projek sebegini yang berpotensi untuk menjana pulangan tinggi dan mempunyai tempoh
pembangunan yang singkat.
• Usaha sama dengan Bolton dan CapitaLand dalam pembangunan projek perumahan berprestij
Di awal tahun 2006, satu projek pembangunan yang berpotensi telah dikenalpasti. Dengan pembentukan
usaha sama antara UM Land dengan Bolton dan CapitaLand untuk memperoleh, membangun dan
memasarkan tapak kediaman seluas 4.3 ekar yang terletak di kawasan Jalan Mayang dan Jalan Yap Kwan
Seng. Di bawah usaha sama ini, Bolton dan UM Land memegang kepentingan sama rata sebanyak
35 peratus sementara CapitaLand memiliki 30 peratus ekuiti yang selebihnya.
Usaha sama ini menandakan kesungguhan UM Land untuk memanfaatkan peluang yang ada dengan
mewujudkan perkongsian pintar dengan pemilik simpanan tanah yang strategik dan syarikat hartanah
terkemuka. Lebih-lebih lagi selepas kejayaan kondominium Suasana Sentral Loft yang telah dibangunkan
bersama MRCB. Berbekalkan reputasi tinggi CapitaLand di Asia Tenggara serta keunikan dan kepakaran
Bolton dalam menyediakan hartanah perumahan yang mewah, perkongsian antara ketiga-tiga pihak ini
menjanjikan hasil yang melebihi jangkaan. Tapak ini merupakan salah satu zon kediaman terbesar di
kawasan popular KLCC. Selaras dengan trend semasa yang menggemari gaya hidup mewah di pusat
bandar raya, sebuah kondominium mewah akan dilancarkan di sini dalam tahun 2007.
29
Rumah Deanna, Seri Austin
UNITED MALAYAN LAND BHD

30
Rumah Azeanna, Seri Austin
KECEKALAN
MENGHARUNGI RINTANGAN
Walaupun ketidaktentuan global yang
timbul akibat kenaikan harga minyak
masih belum reda, kestabilan suasana
politik dan ekonomi semasa dijangka
dapat mengurangkan kesannya dalam
tahun 2006. Langkah-langkah fiskal
telah diambil untuk membangunkan
kembali ekonomi, seperti perlaksanaan
projek-projek bernilai RM2.4 bilion
di bawah Rancangan Malaysia Ke-9.
Ini menunjukkan satu permulaan yang
baik bagi tahun 2006 di mana GDP dijangka
meningkat kepada 6 peratus (Laporan Tahunan
Bank Negara Malaysia 2005).
Walaupun kenaikan kadar faedah mungkin
menjanjikan kestabilan pasaran pengguna pada
tahun 2006, UM Land tetap melihatnya sebagai
tahun yang penuh dengan kemungkinan. Prospek
perkembangan tetap wujud dengan adanya kadar
simpanan Malaysia yang tinggi (36.4 peratus
daripada keluaran dalam negara kasar) dan
belanjawan yang dirangka untuk menggalakkan
dan memberi lebih manfaat kepada sektor swasta.
Berganding dengan profil demografik yang muda,
saiz keluarga yang sederhana dan pemindahan
ke kawasan urban meyakinkan kami bahawa
pembeli masih mampu berbelanja dan ini akan
mengekalkan kestabilan pasaran hartanah.
Dengan adanya kestabilan ini, Kumpulan
bercadang untuk memperkenalkan strategi serta
inisiatif baru pada tahun 2006 dan akan terus
melaksanakan rancangan pembangunan pesatnya.
Pelancaran fasa-fasa baru akan diteruskan
di dalam pembangunan yang sedia ada. Kami
bercadang untuk membawa perspektif baru dan
menambahkan daya tarikan rumah-rumah kami
dengan menawarkan tema dan identiti yang unik.
Untuk mencapai sasaran jualan kami, penekanan
lebih akan diberi kepada penjenamaan dan
kepuasan pelanggan di samping peningkatan
saluran pemasaran.
Antara langkah-langkah yang telah diambil
termasuk menyediakan rumah-rumah pameran
yang mempunyai konsep-konsep canggih
dengan hiasan dalaman yang menawan serta
perancangan pelancaran jualan yang lebih menarik.
Kami juga akan menerokai reka bentuk yang lebih
inovatif dan teknik-teknik pemasaran baru untuk
memasarkan kediaman kami secara proaktif.
MENJANA KEMAJUAN BARU
Sesuatu perubahan pasti akan membawa kemajuan
dan kejayaan.
Bersandarkan prinsip ini, Kumpulan berharap
untuk mencapai visi dan misi barunya melalui
pendekatan baru yang pasti akan membawa
kemajuan dan pertumbuhan yang dinamik.
Ini dijelaskan di dalam pelan strategik 5-tahun
(2006 - 2010) Kumpulan.
Hala tujuan kami dibuat berdasarkan strategi
pertumbuhan yang melibatkan penjenamaan
pemasaran yang agresif, inovasi produk,
pengambilalihan simpanan tanah yang strategik
serta perkongsian pintar.
Dari segi peningkatan operasi, UM Land telah
memulakan strategi produktiviti yang lebih
tertumpu kepada proses perniagaan utama, sistem
sumber manusia, pengurusan maklumat &
komunikasi dan pembentukan sistem imbuhan
menurut prestasi untuk meningkatkan kualiti
sumber manusia kami.
Strategi-strategi membina ini penting untuk
menyerlahkan kedudukan kami di dalam pasaran
yang semakin bersaing dan seterusnya
merealisasikan UM Land sebagai pemaju hartanah
yang terunggul.

PENGHARGAAN
Dengan semangat baru, kami bersedia untuk melangkah lebih jauh ke hadapan.
Kami berasa amat bertuah dengan pelantikan bekas Timbalan Perdana Menteri Malaysia YBhg Tan Sri
Dato’ Musa bin Hitam sebagai pengarah bukan eksekutif dan pengerusi baru UM Land. Bakat dan rekod
prestasi hebat beliau yang dibawa bersama akan membantu Kumpulan untuk mencapai visi barunya. Kami
menganggap kebijaksanaan dan wawasan jauh beliau sebagai aset yang amat berharga dalam
melaksanakan proses transformasi UM Land.
Kami juga mengambil kesempatan untuk merakamkan setinggi-tinggi penghargaan dan mengucapkan
selamat maju jaya kepada bekas Ketua Pegawai Eksekutif Kumpulan (CEO), Encik Wan Abdullah bin Wan
Ibrahim yang telah meninggalkan Kumpulan. Sumbangan dan kepimpinan beliau amat dihargai dan
merupakan aspek penting yang telah berjaya membawa UM Land memasuki era yang baru. Buat waktu ini,
Pengarah Kewangan dan Korporat, Encik Pee Tong Lim akan menguruskan semua tugas CEO Kumpulan.
Kami juga ingin mengucapkan ribuan terima kasih kepada rakan-rakan sekerja, YBhg Datuk Mohd Khamil
bin Jamil, Dr Choo Kian Koon dan Puan Rita Lau Chen Chen yang telah meletak jawatan daripada Lembaga
selepas penghujung tahun kewangan Syarikat. Kumpulan amat menghargai segala nasihat bermanfaat yang
diberikan sepanjang perkhidmatan mereka dalam Lembaga. Pada masa yang sama, kami ingin mengalualukan
pelantikan Encik Soong Hee Sang dan Tuan Syed Azmin bin Mohd Nursin @ Syed Nor sebagai
pengarah Lembaga.
Penghargaan turut kami tujukan kepada semua rakan sekerja yang berpengalaman dalam Lembaga
Pengarah.
Kepada para pemegang saham, kami memberi jaminan bahawa Lembaga akan terus bekerjasama dengan
pihak pengurusan untuk mencapai matlamat-matlamat korporat melalui strategi perniagaan yang mantap
dan amalan pengurusan yang cekap berpandukan prinsip-prinsip ketelusan dan urusan tadbir korporat
yang wajar.
Terima kasih diucapkan kepada para pemegang saham, rakan perniagaan dan pelanggan kami atas
kesetiaan dan sokongan berterusan anda. Penghargaan turut diberi kepada semua kakitangan kami. Seperti
mana kapal bergantung kepada pengemudinya untuk selamat tiba ke pelabuhan, UM Land bergantung
kepada kesungguhan kakitangannya untuk mengemudikan syarikat dan mengharungi segala cabaran bagi
merealisasikan matlamat kami dengan cekap dan berkesan.
LUI CHONG CHEE
Naib Pengerusi Bersama
DATO’ NG ENG TEE
Naib Pengerusi Bersama/
Pengarah Eksekutif
31
UNITED MALAYAN LAND BHD

32 CORPORATE STRUCTURE struktur korporat
100%
100%
100% COUNTRY EQUITY SDN BHD
100%
70%
35%
100%
100%
Investment Holding
Pegangan Pelaburan
UM RESIDENCES SDN BHD
Development of Serviced Apartments
Pembangunan Pangsapuri Khidmat
100% UM DEVELOPMENT SDN BHD
Property Development and Related Activities
Pembangunan Hartanah dan Aktiviti Berkaitan
100%
EXQUISITE SKYLINE SDN BHD
Property Development
Pembangunan Hartanah
100%
Investment holding and provision of management services
Pegangan pelaburan dan peruntukan perkhidmatan pengurusan
SERI ALAM PROPERTIES SDN BHD
Property Development
Pembangunan Hartanah
DYNASTY VIEW SDN BHD
Property Development and Related Activities
Pembangunan Hartanah dan Aktiviti Berkaitan
SUASANA SENTRAL TWO SDN BHD
Property Development and Related Activities
Pembangunan Hartanah dan Aktiviti Berkaitan
ALPINE RETURN SDN BHD
Property Development and Related Activities
Pembangunan Hartanah dan Aktiviti Berkaitan
UM LAND ASSETS SDN BHD
Property Investment
Pelaburan Hartanah
UM LAND BENA SDN BHD
Property Development and Related Activities
Pembangunan Hartanah dan Aktiviti Berkaitan
*UM LEISURE SDN BHD
General Trading
Perdagangan Am
100% SERI ALAM HOTEL RESORT SDN BHD
General Trading Perdagangan Am
100% *PMS SERVICES SDN BHD
Project Management Pengurusan Projek
100% SERI ALAM LEISURE SDN BHD
Investment Holding Pegangan Pelaburan
100% SERI ALAM GOLF & EQUESTRIAN CLUB SDN BHD
Operation of a Recreational Club and Related Activities
Operasi Kelab Rekreasi dan Aktiviti Berkaitan
70% BANGI HEIGHTS DEVELOPMENT SDN BHD
Property Development and Property Investment
Pembangunan Hartanah dan Pelaburan Hartanah
40% IPJORA HOLDINGS SDN BHD
Developing, Building, Owning and Operating Serviced Apartments
Pembangunan, Pembinaan, Pemilik dan Operasi Pangsapuri Khidmat
*Inactive subsidiary company anak syarikat tidak aktif

Transforming
to make a
difference.
Improve:
- business processes
-quality of human capital
33
- HR systems and information
- communication management

34
Bandar
Seri Alam
Beyond developing, UM Land is making
headlines with its current focus on
strategic marketing initiatives. Nowhere
is this more apparent than in this
flagship township.
Savouring the vast openness and soothing fresh
green foliage in Bandar Seri Alam, it is easy to believe
that you are standing on one of the largest modern
integrated townships in Johor. But it is hard to
imagine that just 18 km separates you from the hustle
and bustle of Johor Bahru city centre.
Located within the Johor Bahru - Pasir Gudang
growth corridor, Bandar Seri Alam’s vast landbank
opens up unrivalled
opportunities when it comes
to development. To date, 1,796
acres have been developed
with a variety of homes,
strategic commercial areas,
and a generously landscaped
park. Still young and alive
with potential, Bandar
Seri Alam is UM Land’s
flagship township.
This 3,700-acre township development, set to be
home to 150,000 inhabitants, is enjoying greater
popularity since the recent launch of its beautiful
show village. Its good accessibility and ready
infrastructure provide a favourable setting for
quality homes in a variety of sizes and layout styles.
Here, visitors get a taste of the variety of options.
Whatever families are looking for - be it modern
and exquisite homes, or
spacious and functional
layouts or practical and
value-for-money investments
- the choice and variety are
sure to delight.
top Impiana Homes
bottom Elegance Homes

Currently over 45,000 residents call Bandar Seri Alam home
and enjoy the wholesome living environment it offers with
the surfeit of green space and outdoor activity. The lovely
lakes and parks are hubs for recreational activities that
facilitate daily community interaction and beckon healthy
outdoor living. Another high point for families with schoolgoing
children is the existence of seven schools within the
township, including a Chinese school and a Japanese
International School. With its combination of quality
infrastructure, innovative designs, value-added facilities
and close-knit community, Bandar Seri Alam has
drawn continuous interest and attention from discerning
home purchasers.
The Bandar Seri Alam team has been successful in increasing
the township’s visibility to the Johor market. Ongoing media
advertisements that emphasise the UM Land brand, billboards
and outdoor displays are some of the recent initiatives that
have helped create more awareness and sales!
A steady stream of community and corporate events enhance
a sense of traditional communal living. The carnival
atmosphere of the Seri Alam Fest in 2005 drew residents and
non-residents alike in celebration. Other activities include
gatherings to commemorate tsunami victims, collection of
funds for tsunami victims, various ‘gotong-royong’ activities,
and poolside parties for condominium residents.
35
With constant interest being generated,
the population here is projected to
increase by 15,000 in three years as better
access and additional amenities attract
further interest. These include the
upcoming opening of Tesco Seri Alam -
the first Tesco Hypermarket in Johor
Bahru, upgrading of the Pasir Gudang
Highway, opening of the Senai-Pasir
Gudang Highway, and an additional
route to the city centre.
centre Secret Garden Homes
left Impiana Homes
UNITED MALAYAN LAND BHD

36
Bandar
Seri Putra
Enjoying a smooth uninterrupted drive down the Kuala Lumpur - Seremban highway and
the dedicated Putra-Mahkota interchange, it takes only 30 minutes to reach the peaceful
oasis of Bandar Seri Putra from Kuala Lumpur city centre.
Set amidst relatively pristine environs, overlooking
a range of undulating hills, driving through the
town’s wide palm-lined roads is a refreshing and
relaxing experience. The unpolluted industrialfree
surrounds, free of traffic congestion, is a
soothing balm to weary nerves – indeed a breath of
fresh air from the noisy Kuala Lumpur traffic. In
the completed phases, clusters of well-designed homes, colourful
child-care centres, green fields, a landscaped park and appealing
playground nooks greet you - an ideal enclave for family life.
Judging from the impressive decor of many units, it is clear that
residents have put savings from the surprisingly affordable homes to
good use in landscaping and interior decorating. In the rustically
charming commercial district, quaint coffee shops sit alongside
internet cafes reflecting the thriving diversity of residents who call
this town home. Neighbourly chats and friendly greetings reflect the
more leisurely paced life that one enjoys at Bandar Seri Putra.
top and left D’ Sentral Terrace Homes

As more amenities, facilities and
commercial entities sprout within the
Seri Putra haven, a vibrant dynamism
is being injected into the wholesome
community lifestyle.
bottom left D’ Puncak Putra Homes
Destined to house a population of 35,000, about 50 per cent of
the township has been developed and is inhabited by a
population of above 10,000. Residents enjoy fast and easy access
to Putrajaya, Kuala Lumpur International Airport and the
nearby education hub encompassing various universities and
colleges such as University Putra Malaysia, University
Kebangsaan Malaysia and Selangor International Islamic
University (KUIS). Overall feedback echoes a positive note
with much appreciation voiced about their spacious
and competitively priced value-formoney
homes. Many were happy
with the quality workmanship of
the homes and well-developed
infrastructure, not to mention the steady increase
in investment value.
As pioneers in the new township they look forward
to more facilities and amenities, and with the
recent setting up of a police station and post office,
life is getting more convenient. A primary and
secondary school, mosque and food centre are
some of the upcoming amenities that will boost
interest and investment value in Bandar Seri Putra.
37
UNITED MALAYAN LAND BHD

38
Seri
Austin
Within the increasingly popular growth corridor of Tebrau, Mount Austin is a
thriving area known for its great accessibility and residential appeal. Here, excellent
access via Jalan Tebrau and Pasir Gudang highway to Johor Bahru city centre, an
undulating terrain, proximity to a 36-hole golf and country resort and a generous
sprinkling of commercial centres spell
middle-class suburban elegance. Seri Austin,
comprising 500-acre of freehold land, leverages
on this advantageous location together with
homes of quality design and affordable pricing
to deliver on its theme of a ‘Simply Better’
lifestyle.
Planned as a healthy and conducive
community living environment, the
development comprises individual precincts
linked by green linear parks. Homes are
clustered into cosy precincts with limited
entry points for greater privacy and security.
The number of units within each precinct is
also planned to ensure optimal residency
within the neighbourhood.
To shape a healthy close-knit neighbourhood,
emphasis is placed on providing ample
recreational area for residents to relax, unwind
and become acquainted. Parks, jogging tracks
and bicycle lanes will be built throughout
Seri Austin development to better promote a
healthy outdoor lifestyle.
top Deanna Homes
left Azalea Homes

Seri Austin is gaining
prominence due to several
advantages. These include
a strong corporate brand,
excellent development
record and enhanced
promotions grounded by
homes of better designs
and superior quality.
It is a concept that seems to have hit the jackpot judging from the overwhelming response received at
Seri Austin’s inaugural launch. Held in July 2005, the launch featured a carnival-like event with pony and
elephant rides, eagle and snake shows, inflatable games and paragliders, providing extraordinary family fun
and entertainment. This was followed by the unveiling of the Seri Austin show village in November.
The show village, part of the Group’s mission to enhance customers’ experience, features six different types of
houses and offers buyers a chance to see, feel and touch the ‘Simply Better’ value homes that boast better
design and superior quality, yet remain competitively priced.
The strong popularity of Seri Austin is not just due to the good modern layouts and attractive architecture of
the homes. In placing itself one up over the surrounding developments, the Group has taken a more proactive
approach in marketing. Emphasis is currently placed on increasing brand awareness and improving marketing
communications. These have given the project more exposure and prominence, making it the talk of the town.
The integrated development is expected to have a population of 29,000 upon full completion in 2011. To date,
three phases have been launched. Highlights for the coming year include cluster houses and larger double
storey houses.
39
bottom Azalea Homes
UNITED MALAYAN LAND BHD

40
Suasana
Sentral Loft
The unique concept of the
sunken bath speaks of
romantic indulgence while
the infinity pool with
underwater piped music and
the sky club on the 38th
floor, with its lounge club,
gym, barbeque pits and
function rooms overlooking
the city, encapsulate the
concept of spectacular living.

As international prestige shines on Kuala Lumpur
Sentral, a development built around a world class
transportation hub, UM Land basks in the afterglow
of the immensely well-received launch of
Suasana Sentral Loft, named for its trademark
lofty ceilings. A landmark in both physical and
material sense, The Loft, as it is popularly known,
boasts great location, outstanding design and a
breakthrough concept. If you are a travel-loving
urbanite with a taste for luxurious living, this is the
place to be.
Located strategically within proximity of the
Sentral Station - the nation’s gateway to the world -
Suasana Sentral Loft offers a ‘live, work and play’
lifestyle within a metropolitan enclave. Offices,
retail outlets, banks, serviced apartments and 5-star
hotels are some of the neighbourhood amenities you
can leverage your lifestyle on, within this MSCstatus
development. It also accords an international
jet setting lifestyle, as Kuala Lumpur International
Airport is just a 28-minute ERL ride away!
The Suasana Sentral Loft enjoyed an overwhelming
90 per cent take-up within months of its soft launch
hence a runaway success! Great location, ideal
layout, positive investment potential and unique
concept are few of the many merits well recognised
by its purchasers. With foreign purchasers making
up 20 per cent of its total profile is testimony to its
international appeal.
Further, secondary market transactions for the
adjacent project, Suasana Sentral Condominium,
have been trending upwards since 2002, some
enjoying total capital appreciation of more than
40 per cent. The fact that over 60 per cent of
purchasers are driven by an investment objective
further validates its anticipated promising
investment returns.
41
The building’s design and architecture is created to produce a
clean minimalist look and streamlined finishing. Integrated
with natural landscape and a mystical environment, it is set
to raise eyebrows and catapult it to new standards in high-end
condominium development in the city.
Suasana Sentral Loft has achieved several firsts for its infinity
pool complete with underwater piped music; brazen master
bathrooms with wide paneled glass windows and
see-through glass walls topped with exotic large sunken baths;
to literally top up all these is an exclusive rooftop Sky
Club overlooking the scenic Lake Garden, and this comes
equipped with a trendy lounge, gymnasium, barbeque pits and
function rooms.
Already the talk of the town, Suasana Sentral Loft has added
words like ‘alluring’ and ‘epicurean’ into the professional
vocabulary of architects. If driving a fast car makes you feel
younger, then living in Suasana Sentral Loft is sure to heighten
your sense of passion and inspiration. All in all, it is a project
that is truly in a class of its own.
top Sunken bath, Suasana Sentral Loft
UNITED MALAYAN LAND BHD

42
Often the one drawback of working in the city is the woe of being part of the
peak hour city traffic. The buzz and excitement of the Bukit Bintang area,
encompassing the tourist havens of Bintang Walk, Starhill and Sungei Wang;
is especially renowned for being at the heart of the best in shopping, dining
and entertainment that Kuala Lumpur has to offer. Also in close proximity lies the prominent KLCC Petronas
Twin Towers. Therein lies the ultimate advantage of Seri Bukit Ceylon serviced residences, UM Land’s maiden
foray into niche development. It offers you an urban lifestyle minutes away from where you want to be.
What makes this development even more appealing is that the serviced residences are managed by the
prestigious Ascott International Management Group under the Somerset brand name - hence the assurance
of quality maintenance for these units is built into the affordably packaged price.
With all 246 units handed over, many have already invested in the value-for-money lifestyle within this niche
project. Whether business suites, serviced residences or condominiums, properties within this convenient
well-maintained project promises good returns especially when backed by the dependability of a reputed
developer and its strategic alliance with Ascott International Management Group.
Seri Bukit
Ceylon
Convenient living in a
well-maintained and
prominent building within
walking distance to all the
joys of city living makes
Seri Bukit Ceylon an
outstanding investment.
Feeling ‘lucky’ to have bought a unit sums up the feelings
of many investors who are currently benefiting from an
appreciation in value that good maintenance and
Somerset’s positive reputation brings.
The advantages are endless. Beyond the easy walking
distance to the central business district, leading shopping
centres and popular food and entertainment hubs;
those living here enjoy easy access to Raja Chulan and
Bukit Bintang monorail stations, and many luxurious
extras within the building such as use of a business centre,
pool and gym facilities, housekeeping services and laundry
services. In short, it offers everything that young urbanites
and dynamic executives yearn for!
top Duplex Business Suite
bottom Serviced Residence

Transformasi
untuk
mencipta
kemajuan.
Peningkatan:
-proses perniagaan
- kualiti sumber manusia
43
- sistem sumber manusia dan
maklumat
- pengurusan komunikasi
UNITED MALAYAN LAND BHD

44
Bandar
Seri Alam
Sambil menikmati keindahan kawasan-kawasan hijau yang luas di Bandar Seri Alam, kemungkinan
besar anda merasa seakan-akan sedang berada di sebuah bandar moden terbesar di Johor.
Tapi, sebenarnya anda berada hanya 18km daripada kesibukan pusat bandar Johor Bahru.
Bandar Seri Alam terletak di dalam lingkungan koridor pembangunan Johor Bahru - Pasir Gudang.
Simpanan tanahnya yang luas menawarkan pelbagai peluang pembangunan. Setakat ini, 1,796 ekar
tanah telah dibangunkan dengan pembinaan pelbagai jenis rumah kediaman, kawasan komersial yang
strategik serta sebuah taman luas yang lengkap dengan lanskap yang menawan. Keadaan
pembangunan Bandar Seri Alam yang begitu pesat dan penuh berpotensi menjadikannya projek
perbandaran teragung UM Land.
Perbandaran seluas 3,700 ekar ini boleh menampung 150,000
orang penduduk. Popularitinya semakin meningkat setelah
pelancaran rumah-rumah pamerannya yang cukup menawan
baru-baru ini. Lokasinya yang mudah diakses serta
infrastruktur yang sedia ada menyediakan suatu keadaan
yang sesuai untuk pembinaan pelbagai jenis kediaman
berkualiti dengan pelbagai saiz dan reka bentuk. Apa jua
yang diidamkan oleh keluarga anda – sama ada rumah
yang moden dan canggih, atau yang luas dengan susun atur
yang praktikal dengan nilai terbaik untuk wang anda –
pilihan-pilihan yang ada pastinya memuaskan.
Buat masa ini, 45,000 orang penduduk yang menetap di
Bandar Seri Alam amat berpuas hati dengan keadaan
persekitaran hidup di sini khasnya kawasan-kawasan hijau
yang luas untuk mereka nikmati pelbagai aktiviti luar rumah.
Tasik dan taman yang indah menjadi tumpuan bagi aktivitiaktiviti
rekreasi yang diadakan untuk menjalin kemesraan
sesama penduduk di samping menggalakkan kegiatan riadah
yang sihat. Bagi keluarga yang mempunyai anak-anak yang
bersekolah, terdapat tujuh buah sekolah di sini termasuk
sebuah sekolah Cina dan sebuah Sekolah Antarabangsa
Jepun. Kombinasi infrastruktur yang berkualiti, reka bentuk
yang inovatif, kemudahan tambah nilai serta kemesraan
komuniti, terus menarik minat para pembeli rumah untuk
meninjau kehebatan Bandar Seri Alam.
atas Rumah Secret Garden

Di samping menjalani
aktiviti pembangunan,
UM Land turut aktif
melaksanakan
langkah-langkah
pemasaran strategik
yang agresif. Inisiatif
ini jelas kelihatan
dalam projek
perbandaran
teragungnya –
Bandar Seri Alam.
Pengurusan Seri Alam telah berjaya menyerlahkan
lagi kehebatan bandar ini di pasaran Johor.
Pengiklanan media, penampilan melalui papanpapan
iklan dan pameran luar dibuat secara
berterusan untuk mempertingkatkan jenama UM
Land. Langkah-langkah inisiatif ini bukan sahaja
telah membantu mencipta kesedaran terhadap
projek ini, malah telah meningkatkan jualan!
Acara-acara kemasyarakatan dan korporat kerap
dijalankan untuk memupuk semangat kekeluargaan
di kalangan penduduk. Misalnya, kemeriahan
Pesta Seri Alam 2005 telah berjaya menarik minat
penduduk Bandar ini dan juga orang awam.
Aktiviti-aktiviti lain yang dianjurkan termasuk
perhimpunan bagi memperingati mangsa-mangsa
tsunami, pengumpulan derma untuk mangsamangsa
tsunami, gotong-royong dan jamuan
diadakan di tepi kolam renang bagi penghuni
kondominium.
Dengan minat pembeli yang
berterusan populasi penduduk
dijangka akan meningkat sebanyak
15,000 orang dalam masa tiga
tahun, terutamanya dengan
lokasinya yang mudah dihubungi
serta kemudahan tambahan yang
sedang dibina. Ini termasuk
pembukaan Tesco Seri Alam –
Pasar Raya Tesco pertama di Johor
Bahru yang akan dibina,
penaikkan taraf Lebuh Raya Pasir Gudang,
pembukaan Lebuh Raya Senai - Pasir Gudang dan
pembinaan laluan tambahan ke pusat bandar.
45
kiri Rumah Impiana
UNITED MALAYAN LAND BHD

46
atas Rumah D’ Puncak Putra
Bandar
Seri Putra
Dari pusat bandar Kuala Lumpur, perjalanan lancar terus ke lebuh raya Kuala Lumpur - Seremban dan
persimpangan Putra - Mahkota, anda akan sampai ke Bandar Seri Putra, sebuah oasis nyaman dalam
masa 30 minit sahaja.
Apabila anda memandu melalui bandar ini sambil menikmati persekitarannya
yang nyaman dan pemandangan bukit-bukau yang indah beralun, ia
sememangnya satu pengalaman yang menyegarkan. Bandar Seri Putra terletak
di dalam persekitaran yang bebas daripada aktiviti perindustrian dan kesesakan
lalu lintas, lalu menjadikannya kawasan yang amat menenangkan dan sunyi
daripada kesibukan trafik di Kuala Lumpur. Fasa-fasa yang sudah siap termasuk
kelompok rumah-rumah yang indah reka bentuknya, pusat jagaan kanak-kanak
yang berwarna ceria, padang-padang yang menghijau, taman berlanskap indah
dan taman-taman permainan yang menarik serta suasana yang sungguh sesuai
untuk kehidupan keluarga bahagia.

Apabila melihat rumah-rumah di sini yang cantik diubah suai
dengan seni taman yang indah, jelaslah bahawa pendudukpenduduk
berpuas hati dengan penjimatan yang mereka perolehi
daripada pembelian pada harga yang amat berpatutan. Daerah
perniagaannya yang berciri kedesaan, terdiri daripada beberapa
kedai kopi yang menarik dan kafe internet yang sedia menanti
kunjungan pelanggan. Kedamaian dan kemesraan yang terjalin di
Bandar Seri Putra juga boleh dirasai apabila melihat pendudukpenduduknya
bersembang dan beramah-mesra dalam suasana yang
cukup harmoni.
Bandar ini boleh menampung 35,000 penduduk dan setakat ini
hampir 50 peratus daripada kawasannya telah dibangunkan dan kini
didiami lebih daripada 10,000 orang penduduk. Para penduduk
di sini menikmati akses yang cepat dan mudah ke Putrajaya,
Lapangan Terbang Antarabangsa Kuala Lumpur dan pusat-pusat
pendidikan tinggi berhampiran seperti Universiti Putra Malaysia, Universiti Kebangsaan Malaysia dan
Kolej Universiti Islam Antarabangsa Selangor (KUIS). Berdasarkan maklum balas yang diterima,
penduduk Bandar Seri Putra amat berpuas hati dengan pembelian rumah mereka kerana ruang
dalamannya yang luas serta harganya yang berpatutan. Mereka turut gembira dengan kualiti seni bina
bangunan dan infrastruktur yang disediakan di samping menikmati nilai pelaburan yang kian
meningkat.
Sebagai kumpulan penduduk pertama di sini, mereka mengharapkan penyediaan lebih banyak
kemudahan serta perkhidmatan. Baru-baru ini, penghuni Bandar Seri Putra mula menikmati
kemudahan operasi balai polis dan pejabat pos. Tidak lama lagi, sebuah sekolah rendah dan sekolah
menengah, masjid dan pusat makan akan dibina yang pastinya akan meningkatkan lagi keistimewaan
dan nilai pelaburan di Bandar Seri Putra.
Apabila lebih banyak kemudahan,
ameniti serta entiti komersial wujud
di Bandar Seri Putra, maka wujudlah
satu kehidupan berkomuniti
menyeluruh yang lebih dinamik.
atas Rumah D’ Punchak Putra
kanan Rumah D’ Sentral Terrace
47
UNITED MALAYAN LAND BHD

48
Seri
Austin
Di koridor pembangunan Tebrau yang semakin
popular, Mount Austin merupakan sebuah
kawasan yang pesat membangun dengan akses
yang mudah dan kawasan perumahan yang
menarik. Di sini, akses mudah melalui Jalan
Tebrau dan lebuh raya Pasir Gudang ke bandar
raya Johor Bahru, kawasan beralun yang luas,
berhampiran dengan resort golf 36-lubang
serta berberapa pusat komersial menawarkan
keunggulan kehidupan pinggir kota bagi
golongan kelas pertengahan.
Seri Austin merangkumi kawasan hartanah
pegangan bebas seluas 500 ekar dengan lokasinya
yang baik, serta reka bentuk rumah berkualiti
dan harga berpatutan menawarkan gaya hidup
selaras dengan temanya “Simply Better”.
Dirancang agar sesuai untuk suasana kehidupan
komuniti yang sihat, pembangunan termasuk
presint-presint individu yang dihubungkan
antara satu sama lain oleh taman-taman linear.
Demi keselamatan dan privasi penduduk, rumahrumah
dibina secara berkelompokan didalam
presint-presint dengan jalan masuk terhad.
Jumlah unit di setiap presint turut dirancang rapi
untuk menjamin kediaman optima di kawasan
kejiranan ini.
Untuk memupuk suasana kejiranan yang sihat
dan rapat, kawasan rekreasi yang mencukupi
disediakan untuk penduduk bersantai dan
menenangkan fikiran sambil beramah-mesra.
Taman-taman, trek joging dan laluan basikal juga
akan dibina di segenap pembangunan Seri Austin
untuk menggalakkan gaya hidup yang sihat.
Sambutan hangat yang diterima semasa
pelancaran rasmi Seri Austin membuktikan
kejayaan konsep ini. Pada Julai 2005, pelancaran
projek ini telah berlangsung
dalam suasana karnival yang
meriah dengan pelbagai
aktiviti menarik untuk seisi
keluarga diantaranya, aktiviti
menunggang kuda dan gajah,
pertunjukan burung helang dan
ular, pelbagai permainan dan
pertunjukan “paraglider”.
atas Rumah Azalea

atas Rumah Azalea
Pembangunan Seri Austin semakin popular
disebabkan kelebihannya seperti penjenamaan
korporat yang kukuh, rekod pembangunan
yang cemerlang, ditambah pula dengan
pembinaan rumah-rumah dengan reka bentuk
yang menawan dan berkualiti tinggi.
tengah dan bawah Rumah Deanna
Ia diikuti dengan perasmian desa pameran Seri
Austin pada bulan November. Desa pameran ini,
sebahagian daripada misi Kumpulan dalam
meningkatkan pengalaman pelanggan,
mempamerkan enam jenis rumah yang berlainan
yang menawarkan peluang untuk pelanggan
melihat, merasa and mengalami nilai kediaman
yang “Simply Better” yang mempunyai pelbagai
reka bentuk yang menawan dan berkualiti tinggi
namun berharga kompetitif.
Kepopularan Seri Austin bukan semata-mata
kerana rekabentuk moden dan seni bina
kediamannya yang menawan. Kumpulan telah
mengambil langkah yang proaktif dalam
pemasaran untuk lebih menonjol daripada
pembangunan dipersekitarannya. Keutamaan
diberikan untuk meningkatkan kesedaran jenama
dan memperbaiki komunikasi pemasaran.
Ini telah memberikan projek lebih pendedahan
dan keunggulan - menjadikannya buah mulut
orang ramai.
Pembangunan bersepadu ini dijangka
akan menempatkan 29,000 orang
penduduk apabila lengkap pada tahun
2011. Setakat ini, tiga fasa telah
dilancarkan. Produk kemuncak bagi
tahun depan termasuk rumah
berkelompok dan rumah dua tingkat
yang lebih luas.
49
UNITED MALAYAN LAND BHD

50
Suasana
Sentral Loft
Pembangunan Kuala Lumpur Sentral yang
bertaraf antarabangsa, di sekitar pusat
pengangkutan yang bertaraf dunia telah
membawa pelbagai manfaat kepada projek
Suasana Sentral Loft oleh UM Land.
Ini jelas terbukti apabila projek kediaman
ini yang mendapat namanya daripada
perkataan Lofty (bermaksud tinggi - sesuai
dengan silingnya yang tinggi) menerima
sambutan yang amat menggalakkan setelah
dilancarkan. Suasana Sentral Loft dilihat
sebagai satu mercu tanda hebat di dalam
lokasi yang unggul, lengkap dengan
reka bentuk menarik serta konsep
baru yang canggih. Jika anda gemar
melancong dan inginkan kehidupan mewah
di bandar, inilah tempat yang paling sesuai
untuk anda.
Kedudukan Suasana Sentral Loft di kawasan
strategik berhampiran dengan gerbang
antarabangsa Stesen Sentral Kuala Lumpur,
menawarkan gaya hidup yang diimpikan,
ianya lengkap dengan segala kemudahan
harian, pejabat dan hiburan di dalam
kawasan metropolitan yang eksklusif.
Antara kemudahan di sini termasuk pejabat,
pusat-pusat komersial, bank, pangsapuri
khidmat dan hotel-hotel bertaraf lima
bintang. Lapangan Terbang Antarabangsa
Kuala Lumpur yang terletak hanya 28 minit
sahaja menaiki ERL dari sini turut
memudahkan pergerakan mereka yang
gemar melancong ke luar negara.
Kesemuanya tersedia demi keselesaan hidup
anda di dalam pembangunan yang
berstatus MSC ini.

Hanya beberapa bulan sahaja selepas pelancaran
projek, 90 peratus daripada unit-unitnya berjaya
dijual! Para pembeli berminat dengan keistimewaan
yang ditawarkan seperti lokasinya yang unggul,
rekaan dalamannya yang menarik, potensi pelaburan
yang tinggi serta konsep uniknya. 20 peratus daripada
pembelinya merupakan pelabur asing. Ini jelas
menunjukkan tarikannya begitu ketara di pasaran
antarabangsa. Projek jirannya, Kondominium Suasana
Sentral, turut menunjukkan peningkatan nilai
semenjak tahun 2002. Malah ada yang telah mendapat
keuntungan daripada kenaikan nilai pelaburan
sebanyak 40 peratus. Dengan 60 peratus daripada
pembelian hartanah tersebut untuk tujuan
pelaburan, jelaslah bahawa projek ini berpotensi
untuk memberi pulangan pelaburan yang tinggi.
Reka bentuk dan seni bina bangunan ini mempunyai
penampilan yang ringkas lagi kemas. Tambahan pula,
dengan lanskap semula jadi dan persekitaran yang
indah, ia bakal menjadi mercu tanda yang
menampilkan satu pembangunan kondominium
serba mewah di bandar raya Kuala Lumpur.
Konsep unik tab mandi “sunken”
yang eksotik menambahkan lagi
suasana romantik sementara kolam
renangnya yang lengkap dengan
muzik di dalam air, Sky Club, kelab
eksklusif di tingkat 38 yang menghala
ke pemandangan indah di pusat
bandar, kelab istirehat, gimnasium,
tempat BBQ dan bilik pelbagai guna
melengkapkan gaya hidup serba
mewah yang diidamkan.
Suasana Sentral Loft menawarkan pelbagai
keistimewaannya yang tersendiri dan unik seperti
kolam renang infiniti yang lengkap dengan muzik
di dalam air serta bilik mandi utama yang
menakjubkan dengan tingkap-tingkap besar berpanel
kaca, dinding kaca lut sinar dan tab mandi besar
“sunken” yang eksotik. Di samping itu, di tingkat 38
bangunan pula terdapat kelab eksklusif, iaitu Sky
Club, yang menyediakan ruang istirehat, gimnasium,
tempat BBQ serta bilik pelbagai guna. Daripada Sky
Club ini, anda boleh menikmati keindahan Taman
Tasik Perdana.
Keunggulan Suasana Sentral Loft dan ciri-ciri
uniknya amat mengkagumkan sehingga ia hangat
diperkatakan di kalangan para arkitek. Sekiranya
memandu kereta laju membuat anda merasa lebih
muda, kehidupan di Suasana Sentral Loft pasti akan
menambahkan semangat dan inspirasi anda. Secara
keseluruhannya, projek ini benar-benar unik dan
berciri tersendiri.
51
UNITED MALAYAN LAND BHD

52 Seri Bukit
Ceylon
Kesibukan trafik kerapkali menjadi kesukaran bagi mereka yang
bekerja di pusat bandar. Sememangnya berada di kawasan yang riuh
dengan pelbagai aktiviti, berhampiran kawasan Bukit Bintang dan
Menara Kembar Petronas KLCC khasnya, dikelilingi pelbagai pusat
kunjungan pelancong seperti Bintang Walk, Starhill dan Sungei
Wang yang terkenal sebagai pusat membeli-belah, menjamu selera
dan hiburan utama di KL.
Di sinilah terletaknya keistimewaan pangsapuri khidmat Seri Bukit
Ceylon, yang merupakan projek ulung UM Land dalam
pembangunan khusus. Ia menawarkan gaya hidup urban mewah
yang serba lengkap di pusat bandar raya.
atas Duplex Business Suite

Kehidupan selesa yang dilengkapi
kemudahan serba moden dan bangunan
indah serta memenuhi impian kehidupan
urban pasti meningkatkan lagi pulangan
nilai pelaburan Seri Bukit Ceylon.
Apa yang lebih menarik adalah ianya diuruskan
oleh Kumpulan Ascott International Management,
di bawah jenama Somerset. Ini menjaminkan
penyelenggaraan yang berkualiti yang telah
dinilaikan sekali dalam pakej harga yang
berpatutan bagi unit-unitnya.
Penyerahan kesemua 246 unit telah pun dibuat dan
ramai telah mula menikmati gaya hidup yang
ditawarkan oleh projek khusus ini. Sama ada ianya
merupakan bilik suit perniagaan, pangsapuri
khidmat ataupun kondominium, semua hartanah
di dalam projek ini menjanjikan pulangan yang
tinggi terutama sekali dengan sokongan daripada
pemaju yang bereputasi tinggi serta perikatan
strategik dengan Kumpulan Ascott International
Management.
Ramai pemilik merasa bertuah sebab unit-unit
yang telah dibeli semakin meningkat nilainya. Ini
disebabkan projek ini menyediakan khidmat
penyelenggaraan yang baik serta jaminan Somerset
yang bereputasi tinggi.
Terdapat banyak kelebihan lain di sini. Di samping
lokasinya yang berhampiran dengan pusat
perniagaan utama, pusat membeli-belah terkemuka
dan pusat makan dan hiburan yang popular,
penghuni juga menikmati akses mudah ke stesen
monorel Raja Chulan dan Bukit Bintang. Mereka
juga menikmati pelbagai kemudahan tambahan
di dalam bangunannya sendiri seperti pusat
perniagaan, kolam renang, gimnasium serta
perkhidmatan opsional seperti dobi dan mengemas
rumah. Secara ringkasnya, ia menawarkan segala
keselesaan hidup yang diperlukan oleh golongan
urban muda dan eksekutif dinamik hari ini!
53
UNITED MALAYAN LAND BHD

!
54
january
januari
Bandar Seri Alam Johor,
19 February More than 200 guests
were treated to games, entertainment
and a delicious buffet during the
Bandar Seri Alam Gong Xi Fa Cai
celebrations.
Bandar Seri Alam Johor,
19 Februari Lebih daripada 200 orang tetamu
diraikan dengan pelbagai jenis permainan,
hiburan serta hidangan bufet yang enak sempena
sambutan Gong Xi Fa Cai Bandar Seri Alam.
Bandar Seri Alam Johor,
5 January
Led by a monk from Thailand,
200 Buddhists gathered at the
Bandar Seri Alam Town Park
to release birds and turtles in memory
of the tsunami victims.
Bandar Seri Alam Johor, 5 Januari
Diketuai oleh seorang sami dari Thailand,
seramai 200 penganut agama Buddha
berkumpul di Taman Bandar Seri Alam untuk
melepaskan burung dan penyu sebagai tanda
memperingati mangsa-mangsa tsunami.
Corporate
Kuala Lumpur, 21 February
Suasana Sentral Two Sdn Bhd, a 70:30 joint
venture between UM Land and MRCB, held a
media launch to unveil
the Suasana Sentral
Loft’s captivating
development concept.
Kuala Lumpur, 21 Februari
Suasana Sentral Two Sdn Bhd, projek
usaha sama 70:30 di antara UM Land dan
MRCB, mengadakan pelancaran media
untuk memperkenalkan projek
pembangunan Suasana Sentral Loft dan
konsep uniknya.
!
!
february
februari
K alendar
Bandar Seri Alam Johor,
27 February Bandar Seri Alam residents,
in a joint effort with Majlis Perbandaran
Johor Bahru Tengah and the Health
Department, organised a “Majlis Gotong-royong
Menangani Wabak Denggi” to effectively
eliminate surrounding aedes breeding areas.
Bandar Seri Alam Johor,
27 Februari Penduduk Bandar Seri Alam bersama
dengan Majlis Perbandaran Johor Bahru Tengah dan
Jabatan Kesihatan, menganjurkan Majlis Gotong-royong
Menangani Wabak Denggi untuk menghapuskan
kawasan-kawasan pembiakan nyamuk aedes.

Bandar Seri Alam Johor, 3 March
A newly-renovated workshop for the
Johor Children Spastic School was opened in
Bandar Seri Alam.
Bandar Seri Alam Johor, 3 Mac
Satu bengkel yang baru diubahsuai bagi Sekolah Kanak-kanak
Spastik Johor dibuka di Bandar Seri Alam.
march
mac
Calendar’05
K orporat
april
april
Bandar Seri Putra,
Selangor, 8 April
Bangi Police Station began its
operations in a central location
within Bandar Seri Putra.
Bandar Seri Putra Selangor, 8 April
Balai Polis Bangi memulakan operasi di lokasi pusat
di dalam Bandar Seri Putra.
Bandar Seri Putra Selangor, 12 April
POS Malaysia started operations at its new
outlet in Bandar Seri Putra.
Bandar Seri Putra Selangor, 12 April
POS Malaysia memulakan operasi cawangan barunya di
Bandar Seri Putera.
!
Kuala Lumpur, 4 March
Suasana Sentral Two Sdn Bhd
organised a Directors’ Cocktail Night to
celebrate the overwhelming sales
garnered by the Suasana Sentral Loft.
Kuala Lumpur, 4 Mac
Suasana Sentral Two Sdn Bhd menganjurkan Majlis
Koktel Pengarah untuk meraikan pencapaian jualan
lumayan daripada Suasana Sentral Loft.
Bandar Seri Alam, 25 March
Seri Alam Properties Sdn Bhd
handed over keys for 160 units of
its Phase 5C Doric and Corinthian
Double Storey Terraces.
!
Bandar Seri Alam Johor, 8 May
The ‘Rediscover Seri Alam’ campaign was kicked off at
the Seri Alam Fest. It brought together about 5,000
visitors from all walks of life to celebrate, experience
and rediscover Seri Alam’s appeal as a family township.
Bandar Seri Alam Johor, 8 Mei
Kempen ‘Rediscover Seri Alam’ telah dilancarkan di Pesta Seri Alam.
Ia berjaya menarik lebih kurang 5,000 orang pengunjung dari pelbagai
lapisan masyarakat untuk meraikan, mengalami dan mengenali ciri-ciri
unggul dalam kehidupan kekeluargaan di Bandar Seri Alam.
55
Bandar Seri Alam, 25 Mac
Seri Alam Properties Sdn Bhd
menyerahkan kunci bagi 160 unit
Fasa 5C Rumah Teres Dua Tingkat
Doric dan Corinthian.
!
may
mei
UNITED MALAYAN LAND BHD

!
56
Kuala Lumpur, 29 to 30 June
The Group initiated a review of its Strategic Plan
and started it with an External Environmental
Analysis and an organisational Audit Survey
Kuala Lumpur, 29 hingga 30 Jun
Kumpulan menjalankan kajian ke atas Pelan Strategik bermula
dengan Analisis Persekitaran Luar dan Tinjauan Audit Organisasi.
Seri Austin, Johor Bahru, 26 July
Datuk Bandar of Johor Bahru, Datuk Wahid
bin Dahlan, officiated the Seri Austin Sales
Gallery and the Seri Austin Fest down south,
marking its maiden launch with as much
fun and excitement! The events were
injected with fun-filled carnival atmosphere
and are meant to represent the signature
style for all UM Land’s future launches.
Seri Austin, Johor Bahru, 26 Julai
Datuk Bandar Johor Bahru, Datuk Wahid bin Dahlan telah
merasmikan Galeri Jualan Seri Austin dan Pesta Seri Austin
di dalam suasana yang menyeronokkan dan menghiburkan!
Acara-acara telah berlangsung di dalam suasana karnival
yang sungguh meriah. Semua pelancaran UM Land di masa
depan akan berlangsung di dalam suasana kemeriahan
seperti ini.
Bandar
Seri Putra, Selangor,
24 July
Bandar Seri Putra
launched its inaugural
Property Fest with the
unveiling of the Seri
Bandar Seri Alam, 8 July
Seri Alam Properties Sdn Bhd
handed over keys to 64 units of
Superlink Lakeside Residency,
a gated community.
july
julai
!
Putra show village
showcasing its new series of townhouses
and double-storey terraces.
!
Bandar Seri Putra Selangor, 24 Julai
Bandar Seri Putra melancarkan Pesta Hartanah
pertamanya dengan pelancaran desa pameran
siri baru rumah bandar dan teres dua tingkat.
august
ogos
june
jun
Bandar Seri Alam, Johor, 20 August
Tesco Stores (M) Sdn Bhd, one of the biggest and most established
names among hypermarkets in Malaysia, signed a 30-year land lease
with Seri Alam Properties Sdn Bhd. The event was witnessed by
Johor Menteri Besar, YAB Datuk Abdul Ghani Othman. Also present
was State Domestic Trade and Consumer Affairs Committee
Chairman Datuk K.S. Balakrishnan.
Bandar Seri Alam, 8 Julai
Seri Alam Properties Sdn Bhd
menyerahkan kunci bagi 64 unit
Superlink Lakeside Residency,
sebuah perumahan komuniti berpagar.
Corporate
K alendar
Kuching, Sarawak 28 July
UM Land Group celebrated its Family Day in
Kuching, Sarawak, from 28 July till 31 July. Over 575
employees enjoyed a fun-packed 3-day getaway that
included games and sports, a city
tour, trips to tourist attractions as
well as a ‘Flora and fauna’-themed
dinner.
Bandar Seri Alam, Johor, 20 Ogos
Tesco Stores (M) Sdn Bhd, salah satu pasar raya terbesar dan terkemuka
di Malaysia, menandatangani perjanjian pajakan tanah 30-tahun
dengan Seri Alam Properties Sdn Bhd. Acara ini telah disaksikan oleh
tetamu kehormat, Menteri Besar Johor, YAB Datuk Abdul Ghani
Othman. Turut hadir bersama ialah Pengerusi Jawatankuasa
Perdagangan Domestik dan Hal Ehwal
Pengguna Negeri, Datuk K.S. Balakrishnan.
Kuching, Sarawak 28 Julai
Kumpulan UM Land meraikan Hari Keluarga
di Kuching, Sarawak dari 28 Julai hingga 31 Julai.
Lebih daripada 575 orang kakitangan menyertai
percutian 3 hari ini yang penuh dengan acara
permainan dan sukan, kunjungan ke pusat
bandar dan pusat tarikan pelancong serta majlis
makan malam yang bertemakan
‘Flora and fauna’.

september
september
Kuala Lumpur, 14 October
Suasana Sentral Two Sdn Bhd organized a
Majlis Berbuka Puasa with the orphans
from Asrama Darul Falah Perkim.
Kuala Lumpur, 14 Oktober
Suasana Sentral Two Sdn Bhd menganjurkan Majlis
Berbuka Puasa dengan anak-anak yatim daripada Asrama
Darul Falah Perkim.
!
Pasir Gudang Johor, 10 September
Seri Alam Properties Sdn Bhd kicked off its
Annual Golf Invitational - the Seri Alam
Merdeka Classic at the Tanjong Puteri Golf
and Country Resort. All sporting participants
were decked in red and blue - UM Land’s
corporate colours.
Pasir Gudang Johor, 10 September
Seri Alam Properties Sdn Bhd melancarkan Acara Golf Tahunan -
Seri Alam Merdeka Classic di Tanjong Puteri Golf and Country Resort. Semua peserta telah
berpakaian merah dan biru warna korporat UM Land.
october
oktober
Calendar’05
K orporat
Kuala Lumpur, 20 November
UM Residences Sdn Bhd held a Hari Raya get-together
party at its newly completed Seri Bukit Ceylon
serviced residences for all proud property owners. The
poolside event served to welcome residents and foster
a closer community. The highlight of the day was a
lucky draw that rewarded 42
homeowners with new electrical
appliances for their homes.
Kuala Lumpur, 20 November
UM Residences Sdn Bhd mengadakan
jamuan Hari Raya di pangsapuri khidmat
Seri Bukit Ceylon yang baru siap untuk
semua pemilik unit. Acara berlangsung
di tepi kolam renang dan bertujuan untuk
menyambut kedatangan para penghuni
serta menjalinkan kemesraan komuniti.
Acara kemuncak pada hari tersebut adalah
cabutan bertuah di mana 42 orang pemilik
rumah telah memenangi barangan alat
elektrik untuk rumah baru mereka.
Bandar Seri Alam Johor, 20 November
Marked the final release of the Idaman Series
homes and the second type of Elegance Series
Homes – refreshing designs that inspired visitors
to “Rediscover Seri Alam”.
!
57
Kuala Lumpur, 20 October
UM Residences Sdn Bhd
handed over keys to 246 units of
serviced residences
in its Seri Bukit
Ceylon development.
Kuala Lumpur,
20 Oktober
UM Residences Sdn Bhd
menyerahkan kunci bagi
246 unit pangsapuri
khidmat Seri Bukit Ceylon.
Seri Austin, Johor Bahru,
13 November
Dynasty View Sdn Bhd unveiled its
Azeanna single-storey homes and
Azalea double-storey homes as part of
a day-long carnival celebration which
attracted a 6,000 strong crowd.
Seri Austin, Johor Bahru, 13 November
Dynasty View Sdn Bhd melancarkan rumah satu
tingkat Azeanna dan rumah dua tingkat Azalea
di karnival pelancaran yang berjaya menarik
6,000 orang pengunjung.
november
november
Bandar Seri Alam Johor,
20 November Menandakan pelancaran terakhir rumah Siri
Idaman dan Rumah Siri Elegance (jenis kedua) yang
menawarkan reka bentuk unik yang mengkagumkan
pengunjung ke pesta “Rediscover Seri Alam”. !
UNITED MALAYAN LAND BHD

58
november
november
!
!
Kuala Lumpur,
18 January
The year started off on a positive
footing with the signing
ceremony between UM Land, Bolton and
CapitaLand committing to their joint venture
on the Mayang Land project, located in
vicinity of Kuala Lumpur City Centre (KLCC)
Kuala Lumpur, 18 Januari
Tanda permulaan tahun
yang baik melalui majlis menandatangani
usaha sama di antara UM Land, Bolton dan
CapitaLand bagi melaksanakan projek Mayang
Land, yang terletak di persekitaran “Kuala
Lumpur City Centre (KLCC)”.
Kuala Lumpur, 23 November
The Board of Directors gave their
seal of approval to UM Land’s 5-year
Group Strategic Plan 2006–2010.
Kuala Lumpur, 23 November
Lembaga Pengarah meluluskan Pelan Strategik 5-tahun
Kumpulan 2006–2010.
Bandar Seri Alam Johor,
11 December
Residents of Vista Seri Alam enjoyed
a poolside party to get to know one
another in Bandar
Seri Alam.
Bandar Seri Alam Johor,
11 Disember Penghuni Vista
Seri Alam beramah mesra di
majlis yang diadakan di tepi
kolam renang untuk menjalin
kemesraan sesama penduduk
di Bandar Seri Alam.
january ‘06
januari ‘06
december
disember Kuala Lumpur, 6 - 12 December
Group Chief Executive Officer, Encik
Wan Abdullah bin Wan Ibrahim
communicated UM Land’s
5-year Group Strategic Plan to all
employees across the board.
Kuala Lumpur, 6 - 12 Disember
Ketua Pegawai Eksekutif Kumpulan, Encik Wan
Abdullah bin Wan Ibrahim, menjelaskan Pelan
Strategik 5-tahun Kumpulan kepada semua
kakitangan di seluruh organisasi.
Bandar Seri Alam Johor, 24 December
Seri Alam Properties Sdn Bhd got people in a Christmas
spirit with the launch of the Suria and Impiana terraces.
Both featured spectacularly-designed spacious layouts
in a tropical setting.
Bandar Seri Alam Johor,
24 Disember Seri Alam Properties Sdn Bhd menyemarakkan semangat
Krismas dengan melancarkan rumah teres Suria dan Impiana. Kedua-duanya
menawarkan susun atur yang hebat dan luas di dalam persekitaran tropika.
Kuala Lumpur, 26 January
An Extraordinary General Meeting
was held to approve the appointment of
YBhg Tan Sri Dato’ Musa bin Hitam as
Chairman of UM Land.
Kuala Lumpur, 26 Januari
Mesyuarat Agung Luar Biasa telah diadakan
untuk meluluskan pelantikan YBhg Tan Sri Dato’
Musa bin Hitam sebagai Pengerusi UM Land.

FINANCIAL
Calendar
K alendar Kewangan
59
59
Kuala Lumpur, UM Land reported its Quarter 4 financial
28 February/Februari results for the financial year ended 31 December
2004 to Bursa Malaysia Securities.
UM Land melaporkan keputusan kewangan Suku
tahun keempat bagi tahun kewangan berakhir
31 Disember 2004 kepada Bursa Malaysia Sekuriti.
Kuala Lumpur, UM Land announced its Quarter 1 financial
30 May/Mei results for the financial period ending 31 December
2005 to Bursa Malaysia Securities.
UM Land mengumumkan keputusan kewangan
Suku tahun pertama bagi tempoh kewangan
berakhir 31 Disember 2005 kepada Bursa Malaysia
Sekuriti.
Kuala Lumpur, UM Land held its 44th Annual General Meeting
25 June/Jun at Crowne Plaza Mutiara, Kuala Lumpur.
UM Land mengadakan Mesyuarat Agung
Tahunan ke-44 di Crowne Plaza Mutiara,
Kuala Lumpur.
Kuala Lumpur, UM Land announced its Quarter 2 financial
24 August/Ogos results for the financial year ending 31 December
2005 to Bursa Malaysia Securities.
UM Land mengumumkan keputusan kewangan
Suku tahun kedua bagi tahun kewangan berakhir
31 Disember 2005 kepada Bursa Malaysia Sekuriti.
Kuala Lumpur, A final dividend of 7.5 sen gross per ordinary
27 September share less tax, in respect of the financial year
ended 31 December 2004, was paid on
27 September 2005. This final net dividend
amounted to RM12.53 million.
Dividen kasar akhir sebanyak 7.5 sen setiap saham,
tolak cukai bagi tahun kewangan berakhir
31 Disember 2004 telah dibayar pada
27 September 2005. Demikian, dividen bersih
akhir berjumlah RM 12.53 juta.
Kuala Lumpur, UM Land announced its Quarter 3 financial
23 November results for the financial year ending 31 December
2005 to Bursa Malaysia Securities.
UM land mengumumkan keputusan kewangan
Suku tahun ketiga bagi tahun kewangan berakhir
31 Disember 2005 kepada Bursa Malaysia Sekuriti.
UNITED MALAYAN LAND BHD

60 FIVE-YEAR GROUP FINANCIAL HIGHLIGHTS
prestasi kewangan kumpulan bagi lima tahun
2001 2002 2003 2004 2005
RM million RM million RM million RM million RM million
RM Juta RM Juta RM Juta RM Juta RM Juta
Revenue
Hasil
150.97 135.82 108.79 164.85 214.80
Profit before tax
Keuntungan sebelum cukai
14.66 18.07 23.66 35.02 36.86
Shareholders’ equity
Ekuiti pemegang saham
711.21 713.08 719.57 733.97 746.40
Total assets
Jumlah aset
1,066.19 1,004.13 978.48 1,143.54 1,191.83
Issued and paid-up capital
Modal diterbitkan dan berbayar
231.63 231.63 232.35 232.35 232.35
Gross dividend rate (%)
Kadar dividen kasar (%)
5.0 5.0 5.0 7.5 7.5
Net earnings per share (sen)
Pendapatan bersih sesaham (sen)
4.3 4.4 6.1 8.9 12.6*
Net tangible assets per share (RM)
Aset ketara bersih sesaham (RM)
3.07 3.08 3.10 3.16 3.22**
* Net earnings per share (EPS) is calculated based on the weighted average number of shares of 232,005,534 in issue during the year.
Pendapatan bersih sesaham (EPS) dikira berdasarkan purata bilangan saham berwajaran sebanyak 232,005,534 yang diterbit sepanjang tahun.
** Net tangible assets (NTA) per share is calculated based on the reduced number of shares of 231,957,933 in issue which is net of
share buyback.
Aset ketara bersih (NTA) sesaham dikira berdasarkan bilangan saham yang dikurangkan iaitu sebanyak 231,957,933 yang diterbit selepas
pembelian balik saham.

Every new
beginning
leads us
forward
to new hopes
and new
opportunities.
Setiap
langkah
pembaharuan
pasti membawa
bersamanya
peluang
dan harapan
baru.
61
UNITED MALAYAN LAND BHD

62
The Board of Directors of United Malayan Land Bhd (UM Land or the Company) will continue
its commitment in ensuring that the highest standards of corporate governance are practiced
throughout the Group. This is a fundamental part of discharging its responsibilities for the
Group’s continued progress and success in addition to safeguarding and enhancing
shareholders’ investment and value whilst protecting the interests of other stakeholders of
the Group.
The Board is pleased to report that the Group has strengthened its application of the
principles and best practices recommended by the Malaysian Code on Corporate Governance
(the Code) throughout the financial year ended 31 December 2005.
BOARD OF DIRECTORS
The Board comprises members from diverse professional backgrounds with a wide range of business and financial experiences
relevant to guide, lead and manage the Group towards achieving its business goals and objectives.
Board Composition and Balance
The Board currently has nine (9) members comprising eight (8) non-executive Directors and one (1) executive Director of whom
four (4) are independent. This composition is in compliance with paragraph 15.02 of the Listing Requirements of Bursa
Malaysia Securities Berhad (Bursa Securities) where at least two (2) or one-third of its members are independent directors.
A brief profile of each member of the Board are presented on pages 8 to 15 of this Annual Report.
The Board recognizes that all Directors have equal responsibilities for the Group’s operations. The role of the independent
non-executive Directors is particularly important in ensuring that the strategies proposed by Management are fully
deliberated and examined taking into account the long term interest of the shareholders and other stakeholders in which the
Group conducts its business.
There is a clear separation of role between the Chairman and the Group Chief Executive Officer with clear division of
responsibilities to ensure proper balance of power and authority.
Appointments to the Board
The Nomination Committee is responsible for making recommendations for appointments to the Board and Board committees.
This is to ensure that the level and make-up of its members are of the necessary calibre, experience and qualification needed
to lead and manage the Group successfully.
Roles and Responsibilities
CORPORATE GOVERNANCE STATEMENT
The Board retains full and effective responsibility for the overall strategic direction of the Group. It ensures that Management
develop and maintain sound policies and practices which will help to promote and drive long term sustainable growth and
shareholders value. To this end, the Board had assumed the following responsibilities in accordance with the Best Practices of
the Code:
• Determine the strategic plan for the Company and Group;
• Overseeing the conduct of the Group’s businesses;
• Identifying and managing principal risks affecting the Group;
• Reviewing the adequacy and integrity of the Group’s internal control system;
• Implementing succession planning for timely succession of Management within the Group; and
• Maintaining an effective investor relations programme and shareholders communication policy for the Group.

Meetings
63
The Board meets on a scheduled basis, at least four (4) times a year with additional meetings convened as and when important
issues and decisions are required. During the financial year ended 31 December 2005, the Board met five (5) times to deliberate
and consider a variety of significant matters including the review of the Group’s 5-year strategic plan, budget, quarterly
financial statements, corporate proposals and other related business matters that require deliberation and approval.
Details of attendance of each director who were in office during the financial year ended 31 December 2005 are set out below.
All Directors in office during the said period have complied with the minimum 50% attendance requirement under the Listing
Requirements of Bursa Securities.
Directors Attendance
%
of attendance
Tan Sri Dato’ Musa bin Hitam (Appointed on 26 January 2006) - Not applicable -
Lui Chong Chee (Appointed on 1 August 2005) 1/2 50
Dato’ Ng Eng Tee 5/5 100
Datuk Mohd Khamil bin Jamil (Resigned on 31 March 2006) 4/5 80
Datuk Syed Ahmad Khalid bin Syed Mohammed 5/5 100
Datuk Nur Jazlan bin Tan Sri Mohamed 5/5 100
Dr Choo Kian Koon (Resigned on 17 March 2006) 5/5 100
Syed Azmin bin Mohd Nursin @ Syed Nor (Appointed on 3 May 2006) - Not applicable -
Ng Eng Soon 5/5 100
Dato’ Mohd Hanafiah bin Omar 4/5 80
Tham Kui Seng (Resigned on 1 August 2005) 1/2 50
Pee Tong Lim (Resigned on 21 March 2005) 1/1 100
Soong Hee Sang (Appointed as Alternate Director to
Lui Chong Chee on 5 September 2005
and as a Director on 22 March 2006)
- Not applicable -
Rita Lau Chen Chen (Alternate Director to Dr Choo Kian Koon)
(Resigned on 17 March 2006)
- Not applicable -
Ahmad Shaifuldin bin Mahamad Sharudi (Alternate Director to Datuk Mohd Khamil
bin Jamil) (Resigned on 10 November 2005)
- Not applicable -
Note: Attendance record of alternate directors shall be read in concurrence with attendance record of their respective Principals.
Supply of Information
The Board of Directors has full and unrestricted access to all information pertaining to the Group’s businesses and affairs to
enable them to discharge their duties effectively.
Prior to each Board meeting, Management provides an agenda together with comprehensive reports for each agenda item to
be discussed to each director in a timely manner to enable Directors to obtain further clarification or explanation, where
necessary, in order to be adequately informed before the meeting.
The Directors also have access to independent professional advice, where necessary and appropriate, in the furtherance of
their duties at the Company’s expense. All Directors have full access to the advice and services of the Company Secretary. The
Company Secretary attends to all corporate secretarial administration matters of the Group in addition to attending meetings
of the Board and Board committees.
UNITED MALAYAN LAND BHD

64 CORPORATE GOVERNANCE STATEMENT (cont’d)
Directors’ Training
All Directors have successfully completed the Mandatory Accreditation Programme conducted by Bursatra Sdn Bhd and
attended relevant training programmes under the Continuing Education Programmes (CEP).
Further to the repealed Practice Note 15/2003 and Guidance Notes 10 on CEP requirements effective 1 January 2005, it is no
longer mandatory for Directors to undergo CEP. Nonetheless, listed companies must evaluate and determine the training needs
of its directors on a continuous basis. As such, Directors of the Company are actively encouraged to attend relevant training
programmes to further enhance their skills and knowledge whilst keeping abreast with industry developments.
Re-election
In accordance with the Company’s Articles of Association, one-third of the Directors for the time being shall retire from office
at every Annual General Meeting. Retiring Directors can offer themselves for re-election.
Directors who are appointed as additional directors or to fill casual vacancies during the year are subject to re-election by the
shareholders at the next Annual General Meeting following their appointments.
Directors who are over the age of seventy years are required to submit themselves for re-appointment annually in accordance
with Section 129(6) of Companies Act, 1965. Presently, YBhg Tan Sri Dato’ Musa bin Hitam is subject to such re-appointment.
Directorships in other Companies
Pursuant to the Listing Requirements of Bursa Securities, each member of the Board shall hold not more than ten (10)
directorships in public listed companies and not more than fifteen (15) directorships in non-public listed companies. This
ensures that their commitment, resources and time are focused for an effective input to the Board and the Company. All
Directors are in compliance with this requirement.
Directors’ Remuneration
Directors’ remuneration is determined at levels which enable the Company to attract and retain Directors with the relevant
experience and expertise needed to manage the Group effectively. For executive Directors, the component parts of
remuneration are structured so as to link rewards to corporate and individual performance. For non-executive Directors, the
level of remuneration reflects the experience and level of responsibilities undertaken by these directors.
The determination of remuneration packages for non-executive Directors, including the non-executive Chairman, is a matter
for the Board as a whole. The Directors concerned are required to abstain from deliberations and voting on decisions in respect
of their individual remuneration.
The remuneration package of the Directors is as follows:-
i. Basic salary - Basic salary for executive Directors is recommended upon consideration of individual performance and rates
of salary for similar positions in comparable companies.
ii. Fees - Directors’ fees are based on fixed sum as determined by the Board after considering comparable organizations and
Directors’ participation in various Board committees. The fees are approved by the shareholders at the Annual General
Meeting of the Company.
iii. Bonus Scheme - The Group operates a non-contractual bonus scheme for its executive Directors, which is determined
based on the Group’s level of profit and individual’s performance during the period. Bonuses payable to executive Directors
are reviewed and approved by the Remuneration Committee after consultation with the Board.
iv. Benefits-in-kind - Other customary benefits such as medical care, car, driver, etc are made available as appropriate.
v. Directors’ Share Option - The executive Directors are eligible to participate in the Company’s Employees’ Share Option
Scheme on the same terms and conditions as those offered to employees. The executive Directors’ movement in share
options during the year under review is reflected in the audited financial statements. No share options were offered to
non-executive Directors during the year under review.
A summary of the total remuneration of the Directors in office for the financial year ended 31 December 2005, distinguishing
between executive and non-executive Directors, in aggregate with categorisation into appropriate components and the number
of directors whose remuneration falls into each successive bands of RM50,000 are disclosed as follows :-

Directors’ Remuneration (cont’d)
65
Executive Non-Executive
Directors Directors Total
(RM) (RM) (RM)
Basic salaries and bonus 450,000 – 450,000
Fees 25,000 169,000 194,000
Meeting allowance 9,000 58,000 67,000
Benefits-in-kind 20,525 – 20,525
––––––––––––––––––––––––––– ––––––––––––––––––––––––––– –––––––––––––––––––––––––––
Total 504,525 227,000 731,525
======================= ======================= =======================
Executive Non-Executive
Directors Directors Total
RM 0 - RM50,000 – 8 8
RM50,001 - RM100,000 – 1 1
RM450,001 - RM500,000 – – –
RM500,001 - RM550,000 1 – 1
––––––––––––––––––––––––––– ––––––––––––––––––––––––––– –––––––––––––––––––––––––––
Total 1 9 10
======================= ======================= =======================
Board Committees
The Board is supported by Board committees which have been delegated with specific responsibilities within clearly defined
terms of references primarily to assist the Board in the execution of its duties and responsibilities. With the exception of the
Executive Committee to which the Board has granted discretionary authority to deliberate and decide certain operational
matters, the ultimate responsibility for final decision on all matters lies with the entire Board.
The following Board Committees were established by the Board with clearly defined terms of references:
BOARD OF
DIRECTORS
Audit Committee
Board
Committees
Audit Committee
Executive Committee
Tender Board Committee
Remuneration Committee
Nomination Committee
Risk Committee
The Committee is authorized by the Board to investigate any activities within its terms of reference and shall have unrestricted
access to both the internal and external auditors and members of Management of the Group. The activities carried out by the
Committee during the year under review are summarized in the Audit Committee Report and its Terms of Reference as stated
in pages 70 to 72 of this Annual Report.
UNITED MALAYAN LAND BHD

66 CORPORATE GOVERNANCE STATEMENT (cont’d)
Executive Committee
The role of the Executive Committee (EXCO) is to assist the Board in reviewing major operational and financial issues,
monitoring progress and performance of business units in addition to ensuring the achievement of the Group’s strategic goals
and objectives.
The functions of the EXCO include but are not limited to :-
• evaluation of the Group’s strategic plans;
• recommending all major investments and business deals to the Board;
• advising Management on the overall policies and practices of the Company and the Group;
• reviewing the performance evaluation and reward system to be used as a basis of measurement of Management’s
effectiveness;
• monitoring the development and implementation of an investor relation programme; and
• such other functions as may be delegated by the Board from time to time.
Tender Board Committee
The Committee is tasked by the Board to oversee the Group’s tender and contract procurement processes in compliance with
the Group’s relevant policies and requirements. In addition, the Committee also considers, evaluates and approves tender
awards which are within its financial authority limit, taking into consideration various factors such as price, usage of products
and services and other relevant factors.
Remuneration Committee
The role of the Remuneration Committee is to recommend a remuneration framework for all executive Directors by ensuring
that the remuneration framework recommended reflects the Group’s performance. Additionally, the Committee also reviews
and approves annual salaries, incentive arrangements, service agreements and employment conditions for executive Directors
and employees as well as performing regular review of the competitiveness of the Group’s remuneration structure and policy.
Nomination Committee
The Nomination Committee recommends to the Board, candidates for all directorships of the Board and Board Committees and
review the structure and balance of appointments between executives and non-executives. Additionally it also reviews the
required mix of skills and experience and other qualities of all directorships.
Risk Committee
The Risk Committee assists the Board to actively focus and deliberate on all risk oversight responsibilities of the Group. The
Committee reports to the Board and is tasked with maintaining an effective risk management system which will contribute
towards the achievement of the Group’s strategic, financial, operational and other business objectives. Ultimately, the Board is
responsible for the Group’s overall responsibility for risk oversight within the Group.
INVESTOR RELATIONS AND SHAREHOLDER COMMUNICATION
The Group supports the Code’s principle to encourage shareholders and investors participation and is committed to regular and
proactive communication with shareholders and investors. Formal channels of communication such as press conferences are
used to inform major developments in its business and operations. Established procedures are also in place to ensure the timely
release of share price sensitive information to the public.
During the year under review, the Company has participated in Bursa Securities’ research scheme aimed at profiling local
companies by research analysts set up under the Capital Market Development Fund Bursa Research Scheme. Under this
scheme, Standard & Poor’s and CIMB Securities Sdn Bhd will provide research coverage on the Company for a period of two
years. The objective of the Company’s participation in the research scheme is to enhance its communication channels with its
shareholders and investors.

67
Shareholders also have the opportunity to communicate their views and discuss with the Board on matters affecting the
Company at the Annual and Extraordinary General Meetings (General Meetings). All shareholders are encouraged to attend
General Meetings and participate in the proceedings. Every opportunity is given to the shareholders to seek clarification from
Board members on the resolutions being proposed and the Group’s performance and activities.
Shareholders and investors can also access the Company’s website (www.umland.com.my) for Corporate information, the
quarterly financial results and all public announcements made by the Company.
A CCOUNTABILITY AND AUDIT
Financial Reporting
The Directors ensure that the financial statements are prepared in accordance with Companies Act, 1965 and the applicable
approved accounting standards set by the Malaysian Accounting Standards Board so as to present a balanced and
understandable assessment of the Group’s financial position and prospects.
Directors’ Responsibility Statement in respect of the preparation of the Annual Financial Statements
The Board is responsible for ensuring that the financial statements gives a true and fair view of the state of affairs of the Group
as at the end of the financial year and of the results and cashflow for the financial year then ended.
In preparing the financial statements, the Directors have ensured that relevant accounting policies were applied consistently
and made judgements and estimates that are reasonable and prudent. The Directors have also ensured that all applicable
accounting standards have been followed and financial statements were prepared on the going concern basis as the Directors
have a reasonable expectation, having made enquiries, that the Company and Group have adequate resources to continue in
operational existence for the foreseeable future.
The Directors also have responsibility for ensuring that the Company keeps accounting records which disclose with reasonable
accuracy the financial position of the Company and of the Group which enable them to ensure that the financial statements
comply with the provisions of Companies Act, 1965.
The Directors have overall responsibilities for taking such steps as are reasonably open to them to safeguard the assets of the
Group to prevent and detect fraud and other irregularities.
Internal Controls
The Board acknowledge their responsibility for the Group’s system of internal controls not only financial controls but also
operational and compliance controls as well as risk management.
The Directors’ Statement on Internal Control set out on pages 68 to 69 of this Annual Report provides an overview of the state
of internal control within the Group.
Relationship With The Auditors
The Board, through the Audit Committee maintains a transparent and professional relationship with the Company’s Auditors,
both external and internal. A full report of the Audit Committee enumerating its role in relation to the internal and external
auditors is set out on pages 70 to 72 of this Annual Report.
This statement is made in accordance with the Board’s resolution dated 30 March 2006.
UNITED MALAYAN LAND BHD

68 STATEMENT ON INTERNAL CONTROL
INTRODUCTION
Paragraph 15.27(b) of the Listing Requirements of Bursa Malaysia Securities Berhad (“Bursa Securities”) requires the board of
directors of public listed companies to include in its annual report a “statement about the state of internal control of the listed
issuer as a group”. The Board of Directors (“Board”) of the Company is committed to maintaining a sound system of internal
control in the Group and is pleased to provide the following statement, which outlines the nature and scope of internal control
of the Group during the financial year.
BOARD’S RESPONSIBILITY
The Board is ultimately responsible for the Group’s system of internal controls which includes the establishment of an
appropriate control environment and framework as well as reviewing its adequacy and integrity. Because of the limitations
that are inherent in any system of internal controls, it can only provide reasonable but not absolute assurance against material
misstatement or loss, as it is designed to manage rather than eliminate the risk of failure to achieve business objectives. The
system of internal controls covers, inter alia, risk management procedures and financial, operational and compliance controls.
The Board has established an ongoing process for identifying, evaluating and managing significant risks faced by the Group.
This process has been in place throughout the year and up to the date of approval of the annual report and financial statements.
It has been regularly reviewed by the Board and accords with the Statement on Internal Control: Guidance for Directors of
Public Listed Companies (“Internal Control Guidance”) issued by the Task Force on Internal Control with the support and
endorsement of Bursa Securities.
Whilst the Board maintains ultimate control over risk and control issues, it has delegated to the executive management the
implementation of the system of risk management and internal control within an established framework. The Board has
established key policies and has carried out a specific assessment of the Group’s risk management and internal control systems.
ENTERPRISE RISK MANAGEMENT FRAMEWORK
The Board fully supports the contents of the Internal Control Guidance and through the Audit Committee, continually reviews
the adequacy and effectiveness of the risk management processes in place within the various business units of the Group.
As such, the Board has formalised the process for identifying, evaluating and managing significant risks faced by the Group
through the establishment of an enterprise risk management framework.
Management is responsible for the management of risk, for developing, operating and monitoring the system of internal
control and for providing assurance to the Board that it has done so in accordance with the policies adopted by the Board.
Further independent assurance is provided by the outsourced internal audit function, which performs its internal audit work
on the Group’s operations in accordance with the internal audit plan.
The Board believes that maintaining a sound system of internal controls is premised on a clear understanding and appreciation
of the following key elements of the Group’s enterprise risk management framework:
• A risk policy and procedures manual is in place and it outlines mainly the risk management strategies and policies, risk
communication structure and monitoring of the Group’s risk management framework. This document is subject to reviews
and improvement from time to time in order to enhance risk management processes.
• During the financial year, a sub-board committee known as the Risk Committee has been established to enable the main
Board perform a more active and meaningful oversight role of risk management within UM Land Group. The risk
communication structure was revised to reflect the formation of this sub-board committee including the adoption of the
terms of reference for the Risk Committee.
• A Risk Management Committee, headed by the Group Chief Executive Officer, is placed with the responsibility to identify
and communicate to the Risk Committee the present and potential critical risks the Group faces, their changes and
management’s action plans to manage these risks.
• The appointment of the Group Risk Coordinator at the Group level as well as Risk Coordinators at business unit level
ensures that there is clear leadership, direction and coordination of the group-wide application of risk management.
• The management teams of the respective business units, on an ongoing basis, formulate action plans with implementation
timescales to address key risks and control issues in line with their risk profiles.
• The risk profiles of the respective business units are re-assessed regularly and were updated three times during the
financial year in line with the risk management programme. Periodic updates on the risk profiles of business units are
communicated to the Risk Management Committee and the Board.

69
The Board considers that the enterprise risk management framework is robust, but will still subject the framework to
continuous improvement, taking into consideration better practices and the changing business environment.
To further promote risk management culture within the Group, a risk management training session involving relevant
executive and management staff was carried out during the financial year to reinforce their understanding of enterprise risk
management in addition to improving risk management knowledge and practices.
INTERNAL AUDIT FUNCTION
The internal audit function of the Group is outsourced to external consultants who report directly to the Audit Committee.
Internal audit evaluates the internal controls within the key activities of the Group’s businesses on the basis of an annual
internal audit plan presented to the Audit Committee for approval. The internal audit function adopts a risk-based approach
and prepares its internal audit strategy and plan based on the risk profiles of the major business units of the Group.
The internal audit reports, including management’s action plans to improve the internal control system, are reviewed by the
Audit Committee. The Audit Committee presents its findings to the Board based on the frequency of internal audit cycles set
out in the internal audit plan.
For further details, please refer to the Audit Committee Report.
OTHER RISK AND CONTROL PROCESSES
The current system of internal control and risk management in the Group has within it, the following elements:
• There is in place an organisational structure with formally defined lines of responsibility and delegation of authority.
• A 5-year business plan outlining strategies towards achievement of corporate and business objectives of the Group, which
provides a basis for monitoring the Group’s business performance.
• Established financial limits of authority, which have been approved by the Executive Committee of the Board, are in place
to ensure proper accountability and delegation of authority.
• A budgetary control system is in place whereby annual budgets are prepared by business units and approved by the Board.
Review of actual performance against budget is regularly carried out, and this review encompasses both financial and nonfinancial
key performance indicators. All major variances are reported to the Board. Appropriate remedial and corrective
actions will be taken by the management to minimise the adverse effect of such variances, where necessary.
• Standard operating procedures in respect of certain operational areas have been established to regulate the day-to-day
operations within the Group. Such standard operating procedures are reviewed from time to time to address changes in
business operating environment.
WEAKNESSES IN INTERNAL CONTROLS THAT RESULT IN MATERIAL LOSSES
There were no material losses incurred during the current financial year as a result of weaknesses in internal control.
Management continues to take measures to strengthen the control environment.
This statement is made in accordance with the resolution of the Board dated 30 March 2006.
UNITED MALAYAN LAND BHD

70
TERMS OF REFERENCE
The Audit Committee (AC) was established by the Board of Directors in 1995 to assist the Board in carrying out its
responsibilities. The AC is governed by its Terms of Reference as stipulated on pages 71 to 72 of the Annual Report.
MEMBERSHIP
The Audit Committee currently comprise three members out of which two are independent non-executive Directors namely:
1. Datuk Syed Ahmad Khalid bin Syed Mohammed
Chairman/Independent Non-Executive Director
2. Datuk Nur Jazlan bin Tan Sri Mohamed
Member/Independent Non-Executive Director
3. Soong Hee Sang
Member/Non-Independent Non-Executive Director
(Appointed on 22 March 2006)
4. Dr Choo Kian Koon
Member/Non-Independent Non-Executive Director
(Resigned on 17 March 2006)
MEETINGS
AUDIT COMMITTEE REPORT
The AC shall meet at least four times a year. During the financial year ended 31 December 2005, the AC held a total of eight (8)
meetings. Details of attendance by the AC members are set out below:
Attendance
Datuk Syed Ahmad Khalid bin Syed Mohammed 8/8
Datuk Nur Jazlan bin Tan Sri Mohamed 8/8
Dr Choo Kian Koon 8/8
Soong Hee Sang Not Applicable
The meetings were also attended by the senior management of the Group and the Group’s external auditors upon invitation
by the Chairman of the Committee to provide input during deliberations on issues raised.
SUMMARY OF ACTIVITIES DURING THE YEAR
The Audit Committee performed the following activities during the financial year in the discharge of their duties and
responsibilities in accordance with its Terms of Reference:
• Reviewed and recommended the quarterly and year end financial results, external audit plans and related fees for the
Group to the Board for approval;
• Reviewed findings of audit examination conducted by the external auditors during the financial year;
• Quarterly review of recurrent related party transactions of the Group covered by the shareholders’ mandate and where
relevant, additional related party transactions and their appropriate disclosure requirements;
• Reviewed and approved internal audit plan for Cycle 6 and 7 including related fees for the Group;
• Reviewed internal audit recommendation arising from internal audit reviews in the respective cycles and management’s
action plans to address the key improvement areas based on their implementation priority.
INTERNAL AUDIT FUNCTION
The internal audit review for the year 2005 covered the Company, Seri Alam Properties Sdn Bhd, Bangi Heights Development
Sdn Bhd, UM Residences Sdn Bhd, Suasana Sentral Two Sdn Bhd and Dynasty View Sdn Bhd with the overall scope and
emphasis areas concentrated on high and significant risk areas of the following business processes:

Strategic processes
• Strategic management
Core processes
• Sales and marketing
• Project management
Resources processes
• Financial management
• Human resource management
• Legal and regulatory
The Audit Committee reviewed results of the internal audit exercise and considered the major findings of the exercise,
including the recommendations by the internal auditors in key areas with improvement opportunities as well as
management’s proposed remedial action plans. Follow-up reviews on these highlighted observations and action plans will be
carried out by the internal auditors in their subsequent review cycles in conjunction with Management-initiated reporting to
the Committee from time to time on measures undertaken to address key improvement areas.
TERMS OF REFERENCE OF THE AUDIT COMMITTEE
COMPOSITION
The Audit Committee shall be appointed by the Board from amongst their number and shall consist of not less than
3 members, a majority of whom shall be independent directors of the Company. The Chairman of the Committee shall be an
independent director.
MEETINGS
Meetings shall be held not less than four times a year. A quorum shall be formed when a majority of the Committee members
are independent directors. The Chairman may call for a meeting upon the request of any Committee member, the Managing
Director and the internal and external auditors. The attendance of employees, other directors, representatives of the internal
and external auditors at such meetings will be at the Committee’s invitation.
The Secretary to the Audit Committee shall be the Company Secretary or Assistant Company Secretary or any other person
appointed by the Committee. The Secretary will be responsible for keeping the minutes of meetings of the Committee and
circulating them to Committee members and other members of the Board of Directors.
AUTHORITY
The Committee is authorised by the Board to investigate any activities within its terms of reference and shall have unrestricted
access to both the internal and external auditors and members of management of the Group. The Committee is also authorised
by the Board to obtain independent professional advice and to secure the attendance of outsiders with relevant experience and
expertise if it considers this necessary in the performance of their duties.
DUTIES
The duties of the Committee shall be:-
• To consider the appointment of the external auditors, the audit fee and any questions of resignation and dismissal;
• To discuss with the external auditors:
– The audit plan;
– Their evaluation of the system of internal controls; and
– The audit report on the financial statements.
71
UNITED MALAYAN LAND BHD

72
DUTIES (cont’d)
AUDIT COMMITTEE REPORT (cont’d)
• To ensure co-ordination of the external audit process where more than one audit firm is involved;
• To review the assistance given by employees of the Group to the external and internal auditors;
• To review the quarterly and year-end financial statements of the Company, focusing particularly on:
– Changes in accounting policies and practices;
– Significant and unusual events;
– Significant adjustments arising from the audit;
– The going concern assumption; and
– Compliance with accounting standards and other legal requirements.
• To discuss findings and matters arising from the interim and final audits, and any matters the auditors may wish to discuss;
• To review the internal and external auditors’ management letter and management’s response;
• To do the following where an internal audit function exits:
– Review the adequacy of the scope, functions and resources of the internal audit function, and that it has the necessary
authority to carry out its work;
– Review the internal audit programme and results of the internal audit process and where necessary, ensure that
appropriate action is taken on the recommendations of the internal audit function; and
– Review any appraisal or assessment of the performance of members of the internal audit function.
• To review any related party transactions and conflict of interest situation that may arise within the Company or the Group;
• To consider the major findings of internal and special investigations and management’s response; and
• To consider other matters as defined by the Board.

ADDITIONAL COMPLIANCE INFORMATION
1. SHARE BUY BACK
73
During the financial year, the Company repurchased 76,800 of its own shares from the open market of Bursa Securities for
a total consideration of RM75,356. Details of the shares repurchased are as follows:
No. of Highest Lowest Average
Ordinary Gross Gross Gross
Shares of Total Purchase Price Paid Price Paid Price Paid
Month RM1 Each Consideration* Per Share Per Share Per Share
RM RM RM RM
January 1,100 1,229 1.040 0.995 1.010
February 900 1,024 1.020 0.995 1.007
March 2,300 2,442 1.010 0.985 0.994
April 2,700 2,794 1.020 0.940 0.967
May 12,800 12,431 1.000 0.930 0.949
June 11,400 11,009 1.120 0.920 0.943
July 1,600 1,820 1.040 0.990 1.015
August 600 690 1.060 1.020 1.042
September 17,800 17,117 1.020 0.935 0.948
October 5,600 5,731 1.030 0.920 0.993
November 14,500 13,776 0.990 0.900 0.936
December 5,500 5,293 0.995 0.900 0.926
––––––––––––––––––––––––––––––––––––––––––––––––––––
76,800 75,356
–––––––––––––––––––––––––––––––––––––––––––––––
*Includes incidental cost such as commission, clearing fee and stamp duty.
Since the implementation of the share buy back scheme, the Company has purchased 388,700 of its own shares at a total
purchase consideration, including incidental cost, of RM449,807 or at an average gross price of RM1.140 per share.
These shares are now being held as treasury shares.
2. MATERIAL CONTRACTS
Save as disclosed below, there are no material contracts of the Company and/or its subsidiaries, involving directors' and
major shareholders' interest, either still subsisting at the end of the financial year or, if not then subsisting, entered into
since the end of the previous financial year:
(i) On 7 March 2003, UM Residences Sdn Bhd (“UMR”), a wholly-owned subsidiary of the Company, entered into a joint
venture agreement with Liang Court (Malaysia) Sdn Bhd (“LCSB”), a subsidiary of CapitaLand Limited which in
turn is a major shareholder of the Company, to establish a joint venture partnership (“Partnership”) to govern the
material aspects and conduct of the business of operation and management of the following:
(a) 48 units of the Seri Bukit Ceylon serviced residences located between the 5th and 8th floor which had been
purchased by LCSB for purposes of the leasing agreements to be entered into between LCSB and the Partnership;
(b) another 48 units of the Seri Bukit Ceylon serviced residences located between the 9th and 12th floor for purposes
of the leasing agreements to be entered into between UMR and the Partnership; and
(a) and (b) collectively referred to as “Somerset Serviced Residences” and
(c) other units of the Seri Bukit Ceylon serviced residences owned by individual owners (other than LCSB and
UMR) (“Corporate Serviced Residences”) which are leased to UMR or its nominee pursuant to leasing
agreements for subsequent re-letting to third parties,
(a), (b) and (c) collectively referred to as the “Business”, by the Partnership.
UNITED MALAYAN LAND BHD

74 ADDITIONAL COMPLIANCE INFORMATION (cont’d)
The Partnership also entered into a management agreement dated 7 March 2003 with Ascott International
Management (Malaysia) Sdn Bhd (“AIM”), a subsidiary of CapitaLand Limited which in turn is a major shareholder
of the Company, for purposes of engagement and appointment of AIM to operate, maintain, manage and market the
Business for and on behalf of the Partnership. As consideration for the management services to be rendered by AIM,
the Partnership has agreed to pay, inter alia, the following fees to AIM for each operating year during the initial 5year
period from the date of commencement:
• 3% of the total revenue of the Somerset Service Residences for that operating year;
• 10% of the gross operating profit of the Somerset Service Residences for that operating year; and
• 5% of the total revenue of the Corporate Service Residences for that operating year.
(ii) Joint venture and shareholders agreement dated 28 April 2004 between the Company and Malaysian Resources
Corporation Berhad (“MRCB”) to govern a joint venture company, namely Suasana Sentral Two Sdn Bhd (“SSTwo”),
for the development of the Suasana Sentral Loft condominium project in Kuala Lumpur Sentral.
(iii) Tenancy agreement dated 6 October 2004 between the Company and Tradewinds Corporation Berhad, a major
shareholder of the Company. The tenancy agreement is for the rental of office space at RM34,326.60 per month for
a duration of 3 years from 1 August 2004 to 31 July 2007.
(iv) Management agreement dated 2 January 2005 between SSTwo, a subsidiary of the Company, and CapitaLand
Residential Limited, a major shareholder of the company. The management agreement is for the procurement of
management assistance at Singapore Dollar 17,026 per month for the period from 1 January 2005 to 30 June 2005.
(v) Sale and purchase agreement dated 31 March 2005 between SSTwo and Datuk Mohd Khamil bin Jamil for sale of a
condominium for a cash consideration of RM659,072. Datuk Mohd Khamil bin Jamil was a former director of the
Company and SSTwo.
(vi) Sale and purchase agreement dated 31 March 2005 between SSTwo and Pee Tong Lim for sale of a condominium for
a cash consideration of RM562,108. Pee Tong Lim is the Acting Group Chief Executive Officer of the Company and
a director of SStwo.
(vii) Sale and purchase agreements dated 5 April 2005 and 9 August 2005 between SSTwo and Shahril Ridza bin Ridzuan
for sale of two condominiums for a total cash consideration of RM991,078. Shahril Ridza bin Ridzuan is a director
of SSTwo and MRCB which in turn is a major shareholder of SSTwo.
(viii) Sale and purchase agreement dated 11 April 2005 between SSTwo and Dato’ Ahmad bin Hj Ibnihajar for sale of a
condominium for a cash consideration of RM416,506. Dato’ Ahmad bin Hj Ibnihajar is a director of MRCB.
(ix) Sale and purchase agreement dated 12 April 2005 between SSTwo and Wan Abdullah bin Wan Ibrahim for sale of a
condominium for a cash consideration of RM607,220. Wan Abdullah bin Wan Ibrahim was a former alternate
director of SSTwo and former Group Chief Executive Officer of the Company.
(x) Sale and purchase agreement dated 19 April 2005 between SSTwo and Datuk Azlan bin Mohd Zainol for sale of a
condominium for a cash consideration of RM653,072. Datuk Azlan bin Mohd Zainol is a director of MRCB.
(xi) Sale and purchase agreement dated 25 April 2005 between SSTwo and Abdul Rahman bin Ahmad for sale of a
condominium for a cash consideration of RM493,800. Abdul Rahman bin Ahmad is a director of MRCB.
(xii) Sale and purchase agreement dated 25 April 2005 between SSTwo and Dennis Ng Yew Kim for sale of a
condominium for a cash consideration of RM672,592. Dennis Ng Yew Kim is the son of Dato’ Ng Eng Tee who in turn
is a director of SSTwo, and major shareholder and director of the Company.

2. MATERIAL CONTRACTS (cont’d)
75
(xiii) Sale and purchase agreement dated 28 April 2005 between SSTwo and Ahmad Zaki bin Zahid for sale of a
condominium for a cash consideration of RM647,072. Ahmad Zaki bin Zahid is a director of MRCB.
(xiv) Sale and purchase agreement dated 29 April 2005 between SSTwo and Datuk Nur Jazlan bin Tan Sri Mohamed for
sale of a condominium for a cash consideration of RM639,072. Datuk Nur Jazlan bin Tan Sri Mohamed is a director
of the Company.
(xv) Sale and purchase agreement dated 2 June 2005 between SSTwo and Dr Choo Kian Koon for sale of a condominium
for a cash consideration of RM398,522. Dr Choo Kian Koon was a former director of SSTwo and the Company.
(xvi) Sale and purchase agreements dated 13 June 2005 and 11 August 2005 between SSTwo and Chan Chee Meng for sale
of two condominiums for a total cash consideration of RM702,528. Chan Chee Meng is a director of SSTwo.
(xvii) Sale and purchase agreement dated 27 July 2005 between SSTwo and Datuk Zahari bin Omar for sale of a
condominium for a cash consideration of RM432,461. Datuk Zahari bin Omar is a director of MRCB.
(xviii) Joint venture agreement dated 18 January 2006 between the Company, Bolton Berhad ("Bolton"), Acegoal Pte Ltd
("Acegoal") and Alpine Return Sdn Bhd ("ARSB") to govern ARSB, the joint-venture company for the proposed
condominium development project on a piece of land located along Jalan Mayang, Kuala Lumpur. Pursuant to the
said agreement, the issued and paid-up capital of ARSB shall be increased to RM40,000,000 and will be subscribed
by the Company, Bolton and Acegoal in the proportion of 35%, 35% and 30% respectively. Acegoal is an indirect
wholly-owned subsidiary of CapitaLand Limited which in turn is a major shareholder of the Company.
3. NON-AUDIT FEES
Non-audit fees paid to external auditors for the financial year ended 31 December 2005 amounted to RM79,420.
4. RECURRENT RELATED PARTY TRANSACTIONS OF A REVENUE OR TRADING NATURE
At an extraordinary general meeting held on 28 June 2005, the Company had obtained shareholders' mandate to allow the
Company and/or its subsidiaries to enter into recurrent related party transactions of a revenue or trading nature. Pursuant
to Paragraph 10.09(1)(b) of the Bursa Securities Listing Requirements, the details of the recurrent related party transactions
conducted during the current financial year are disclosed as follows:
Mandated Related Parties Nature of Transactions Value
RM
Interested Parties
Bangi Heights Development Provision of 1,920,000 Interested Major Shareholder
Sdn Bhd management services • CapitaLand Limited
Interested Directors
• Lui Chong Chee
• Soong Hee Sang
Interested Former Directors
• Tham Kui Seng
• Dr Choo Kian Koon
• Rita Lau Chen Chen
UNITED MALAYAN LAND BHD

76 ADDITIONAL COMPLIANCE INFORMATION (cont’d)
4. RECURRENT RELATED PARTY TRANSACTIONS OF A REVENUE OR TRADING NATURE (cont’d)
Mandated Related Parties Nature of Transactions Value
RM
Interested Parties
CapitaLand Residential Procurement of (338,273) Interested Major Shareholder
Limited management services • CapitaLand Limited
Interested Directors
• Lui Chong Chee
• Soong Hee Sang
Interested Former Directors
• Tham Kui Seng
• Dr Choo Kian Koon
• Rita Lau Chen Chen
Suasana Sentral Two Provision of 740,000 Interested Major Shareholder
Sdn Bhd management services • CapitaLand Limited
Interested Directors
• Lui Chong Chee
• Soong Hee Sang
Interested Former Directors
• Tham Kui Seng
• Dr Choo Kian Koon
• Rita Lau Chen Chen
Tradewinds Corporation Rental of office premise (496,901) Interested Major Shareholders
Berhad • Tradewinds Corporation Berhad
• Perspective Lane (M) Sdn Bhd
• Restu Jernih Sdn Bhd
• Tan Sri Syed Mokhtar Shah
bin Syed Nor
Interested Director
• Syed Azmin bin Mohd Nursin @
Syed Nor
Interested Former Directors
• Datuk Mohd Khamil bin Jamil
• Ahmad Shaifuldin bin
Mahamad Sharudi

5. FINANCIAL ASSISTANCE
77
At an extraordinary general meeting held on 28 June 2005, the Company had obtained shareholders' mandate to allow the
Company and/or its subsidiaries to provide/receive financial assistance to/from related parties. Pursuant to Paragraph
10.09(1)(b) of the Bursa Securities Listing Requirements, the details of financial assistance provided to/procured from
related parties during the current financial year are disclosed as follows:
Type of Financial
Balance as at
31 December
Mandated Related Parties Assistance 2005
RM
Interested Parties
Bangi Heights Development Pooling of funds
7,999,208 Interested Major Shareholder
Sdn Bhd from the Company
• CapitaLand Limited
and/or subsidiaries
to Bangi Heights
Development Sdn
Bhd via centralised
Interested Directors
• Lui Chong Chee
• Soong Hee Sang
treasury
Interested Former Directors
management
• Tham Kui Seng
for a duration not
• Dr Choo Kian Koon
exceeding 3 years
• Rita Lau Chen Chen
Bangi Heights Development Pooling of funds
33,189,707 Interested Major Shareholder
Sdn Bhd from Bangi Heights
• CapitaLand Limited
Development Sdn
Bhd to the
Company and/or
subsidiaries
Interested Directors
• Lui Chong Chee
• Soong Hee Sang
via centralised
Interested Former Directors
treasury
• Tham Kui Seng
management
• Dr Choo Kian Koon
for a duration not
exceeding 3 years
• Rita Lau Chen Chen
Suasana Sentral Two Pooling of funds
27,958 Interested Major Shareholder
Sdn Bhd from the Company
• CapitaLand Limited
and/or subsidiaries
to Suasana Sentral
Two Sdn Bhd
via centralised
Interested Directors
• Lui Chong Chee
• Soong Hee Sang
treasury
Interested Former Directors
management
• Tham Kui Seng
for a duration not
• Dr Choo Kian Koon
exceeding 3 years
• Rita Lau Chen Chen
UNITED MALAYAN LAND BHD

78 LIST OF PROPERTIES as at 31 December 2005
Description & Age of Land Net Book Date of Last
Location Existing Use Tenure Buildings Area Value Revaluation
Year Acre RM’000
BANDAR SERI ALAM
Mukim of Plentong Vacant land Freehold – 217.98 –
District of Johor Bahru - Government reserve
6 Jalan Lembah
Bandar Seri Alam
81750 Johor Darul Takzim
Corporate office Freehold 9 7.95 16,031
1 Jalan Purnama
Bandar Seri Alam
81750 Johor Darul Takzim
Equestrian clubhouse Freehold 8 59.16 10,928
3 Jalan Persiaran
Bandar Seri Alam
81750 Johor Darul Takzim
Japanese school Freehold 8 5.01 7,867
Mukim of Plentong Vacant Freehold – 680.21 295,008
District of Johor Bahru development land
- Residential 279.58 219,784
- Commercial 2.96 3,847
- Recreational & others 372.28 45,144
- School & hostel 0.72 744
- Agriculture reserve 24.67 25,489
Mukim of Plentong On-going development Freehold – 7.21 5,674
District of Johor Bahru - Residential
Mukim of Plentong Vacant Freehold – 910.75 212,438
District of Johor Bahru development land
- Residential 468.62 117,157
- Commercial 115.60 42,815
- Industrial 49.84 9,534
- Recreational & others 254.78 36,693
- School & hostel 21.91 6,239
Mukim of Plentong On-going development Freehold – 118.27 38,311
District of Johor Bahru - Residential 116.35 35,963
- Commercial 1.92 2,348
Mukim of Plentong Completed properties Freehold – 93.13 53,597
District of Johor Bahru - Residential 91.95 51,087
- Commercial 1.18 2,510
Sub-total 2,099.67 639,854
Oct ‘96
May ‘90

79
Description & Age of Land Net Book Date of Last
Location Existing Use Tenure Buildings Area Value Revaluation
Year Acre RM’000
BANDAR SERI PUTRA
Mukim of Kajang Vacant Freehold – 178.59 136,288
District of Ulu Langat development land
Selangor - Residential 90.79 46,769
- Commercial 87.80 89,519
Mukim of Dengkil Vacant Freehold – 25.75 12,141
District of Sepang development land
Selangor - Industrial
Mukim of Kajang On-going development Freehold – 35.85 36,660
District of Ulu Langat
Selangor
- Residential
Mukim of Kajang Completed properties Freehold – 4.09 3,768
District of Ulu Langat - Bungalow lots 3.25 1,919
Selangor - Residential 0.07 276
- Commercial 0.77 1,573
Bangi Old Town Completed properties Freehold – 28.24 18,103
District of Ulu Langat - Bungalow lots 28.20 17,833
Selangor - Residential 0.04 270
Sub-total 272.52 206,960
SERI AUSTIN
Mukim of Tebrau Vacant land Freehold – 145.06 –
District of Johor Bahru - Government reserve
Mukim of Tebrau Vacant Freehold – 301.89 126,379
District of Johor Bahru development land
- Residential 290.54 120,461
- Commercial 11.35 5,918
Mukim of Tebrau On-going development Freehold – 44.13 19,112
District of Johor Bahru - Residential
Sub-total 491.08 145,491
SERI BUKIT CEYLON
8 Lorong Ceylon Completed properties Freehold – 0.62 3,326
Off Jalan Raja Chulan - Service apartments
50250 Kuala Lumpur and condominium
SUASANA SENTRAL LOFT
Lot 80, Seksyen 70 On-going development Freehold – 2.04 36,536
Kuala Lumpur - Residential
Grand total 2,865.93 1,032,167
Note : There has been no revaluation since the date of acquisition.
Note
Note
Note
Note
UNITED MALAYAN LAND BHD

80 ANALYSIS OF SHAREHOLDINGS as at 30 April 2006
analisa pegangan saham pada 30 April 2006
AUTHORISED SHARE CAPITAL : 500,000,000
Modal Saham Dibenarkan
ISSUED AND PAID-UP SHARE CAPITAL : 232,346,633
Modal Saham Diterbit dan Berbayar
CLASS OF SHARES : ORDINARY SHARES OF RM1.00 EACH
Jenis Saham Saham Biasa bernilai RM1.00 sesaham
SUBSTANTIAL SHAREHOLDERS Pemegang Saham Utama
DIRECT INTEREST INDIRECT INTEREST
Kepentingan Langsung Kepentingan Tidak Langsung
LIST OF SUBSTANTIAL SHAREHOLDERS NO. OF SHARES NO. OF SHARES
Senarai Pemegang Saham Utama Bil Saham % Bil Saham %
Wawasan Perangsang Mewah Sdn Bhd 57,153,500 24.60
Opal Holdings Pte Ltd 48,084,500 20.70
Chee Tat Holdings (S) Pte Ltd 17,828,634 7.67
Tradewinds Resources Sdn Bhd 17,826,000 7.67
Perspective Lane (M) Sdn Bhd 17,826,000 7.67
Restu Jernih Sdn Bhd 17,826,000 7.67
Tan Sri Syed Mokhtar Shah bin Syed Nor 17,826,000 7.67
Mohamed Ali Rashed Alabbar 57,153,500 24.60
Nor Azman bin Abd Halim 57,153,500 24.60
Vanda Holdings Pte Ltd 48,084,500 20.70
CapitaLand Residential Limited 50,064,500 21.55
CapitaLand Limited 50,064,500 21.55
Temasek Holdings (Private) Limited 50,064,500 21.55
Dato’ Ng Eng Tee 7,888,441 3.40 25,226,437 10.86
Ng Eng Soon 7,151,032 3.08 17,828,634 7.67
Ng Eng Ghee 6,560,864 2.82 17,826,634 7.67
DIRECTORS’ SHAREHOLDING Pegangan Saham Para Pengarah
DIRECT INTEREST INDIRECT INTEREST
Kepentingan Langsung Kepentingan Tidak Langsung
LIST OF SUBSTANTIAL SHAREHOLDERS NO. OF SHARES NO. OF SHARES
Senarai Pemegang Saham Utama Bil Saham % Bil Saham %
Dato’ Ng Eng Tee 7,888,441 3.40 25,226,437 10.86
Ng Eng Soon 7,151,032 3.08 17,828,634 7.68

SIZE OF SHAREHOLDINGS Saiz Pegangan Saham
NO. OF % OF NO. OF % OF SHARE
SAIZ OF SHAREHOLDERS SHAREHOLDERS SHAREHOLDERS SHARES CAPITAL
Saiz Pegangan Saham Bil. Pemegang Saham % Pemegang Saham Bil. Saham Bil. Modal Saham
1-99 56 3.24 1,461 0.00
100 - 1,000 368 21.31 321,275 0.14
1,001 - 10,000 989 57.27 4,286,705 1.84
10,001-100,000 246 14.24 7,429,373 3.20
100,001 to less than
5% of issued shares
100,001 hingga kurang dari
5% saham diterbitkan
5% and above of
64 3.71 79,415,185 34.18
issued shares
5% dan ke atas saham
diterbitkan
4 0.23 140,892,634 60.64
TOTAL Jumlah 1,727 100.00 232,346,633 100
LIST OF THIRTY LARGEST SHAREHOLDERS AS AT 30 APRIL 2006
Senarai Tiga Puluh Pemegang Saham Terbesar Pada 30 April 2006
Name NO. OF SHARES % OF SHARE CAPITAL
Nama Bil. Saham Bil. Modal Saham
1. Wawasan Perangsang Mewah Sdn Bhd 57,153,500 24.60
2. Opal Holdings Pte Ltd 48,084,500 20.70
3. Chee Tat Holdings (S) Pte Ltd 17,828,634 7.67
4. Mayban Trustees Berhad
Pledged Securities Account for Tradewinds Resources Sdn Bhd
17,826,000 7.67
5. Khong Guan Flour Milling Limited 11,400,000 4.91
6. ICL Nominees (Asing) Sdn Bhd
OCBC Securities Private Limited for Ng Eng Soon
7,151,032 3.08
7. HDM Nominees (Asing) Sdn Bhd
UOB Kay Hian Pte Ltd for Ng Eng Ghee
6,560,864 2.82
8. Amsec Nominees (Asing) Sdn Bhd
Fraser Securities Pte Ltd for Ng Yew Hui
3,939,618 1.70
9. Amsec Nominees (Asing) Sdn Bhd
Fraser Securities Pte Ltd for Ng Yew Fong
3,939,617 1.70
10. Amsec Nominees (Asing) Sdn Bhd
Fraser Securities Pte Ltd for Ng Yew Chuan
3,939,617 1.70
11. Amsec Nominees (Asing) Sdn Bhd
Fraser Securities Pte Ltd for Ng Suat Paik Alice
3,938,210 1.69
12. Mayban Nominees (Tempatan) Sdn Bhd
Pledged Securities Account for Musa Michael Lee Abdullah
3,496,800 1.50
SUB-TOTAL Jumlah kecil 185,258,392 79.74
81
UNITED MALAYAN LAND BHD

82 ANALYSIS OF SHAREHOLDINGS as at 30 April 2006 (cont’d)
analisa pegangan saham pada 30 April 2006 (samb.)
LIST OF THIRTY LARGEST SHAREHOLDERS AS AT 30 APRIL 2006
Senarai Tiga Puluh Pemegang Saham Terbesar Pada 30 April 2006
Name NO. OF SHARES % OF SHARE CAPITAL
Nama Bil. Saham Bil. Modal Saham
Brought forward Di bawa kehadapan 185,258,392 79.74
13. EB Nominees (Tempatan) Sendirian Berhad
Pledged Securities Account for Ng Eng Tee
3,180,000 1.37
14. Ng Eng Tee 3,108,441 1.34
15. Khong Guan Group Pte Ltd 2,830,875 1.22
16. HDM Nominees (Asing) Sdn Bhd
DBS Vickers Secs (S) Pte Ltd for Prime Securities Pte Ltd
1,980,000 0.85
17. AMMB Nominees (Asing) Sdn Bhd
AmTrustee Berhad for King George Financial Corporation
1,600,000 0.69
18. Amsec Nominees (Asing) Sdn Bhd
Pledged Securities Account for Ng Eng Tee
1,600,000 0.69
19. AMMB Nominees (Asing) Sdn Bhd
AmTrustee Berhad for King George Park Ltd
1,500,000 0.65
20. Ng Yew Khim, Dennis 1,500,000 0.65
21. Hup Hock Trading Sendirian Berhad 1,406,250 0.61
22. Lembaga Tabung Haji 1,062,000 0.46
23. Ng Suet Ning, Tammy 1,000,000 0.43
24. Wong Winifred 1,000,000 0.43
25. Kah Hong Pte Limited 930,000 0.40
26. Taisho Company Sdn Berhad 927,000 0.40
27. Mayban Securities Nominees (Tempatan) Sdn Bhd
Malayan Banking Berhad for Musa Michael Lee Abdullah
828,200 0.36
28. Amsec Nominees (Asing) Sdn Bhd
Pledged Securities Account for Ng Yew Khim, Dennis
797,800 0.34
29. Victoria Prize Sdn Bhd 619,000 0.27
30. Khong Guan Biscuit Factory Sdn Berhad 574,500 0.25
TOTAL Jumlah 211,702,458 91.11

NOTICE OF ANNUAL GENERAL MEETING
NOTICE IS HEREBY GIVEN THAT THE
45th
83
ANNUAL GENERAL MEETING of United Malayan Land Bhd
will be held to transact the following businesses:-
Venue : Nirwana Ballroom 2, Lower Lobby, Crowne Plaza Mutiara Kuala Lumpur,
Jalan Sultan Ismail, 50250 Kuala Lumpur
Date : Tuesday, 20 June 2006
Time : 11.30 a.m.
Ordinary Resolution 1
Ordinary Resolution 2
Ordinary Resolution 3
Ordinary Resolution 4
Ordinary Resolution 5
Ordinary Resolution 6
Ordinary Resolution 7
Ordinary Resolution 8
Ordinary Resolution 9
Ordinary Resolution 10
Ordinary Resolution 11
ORDINARY BUSINESS:
1. To receive the Audited Accounts for the financial year ended 31 December 2005 together with the
Reports of the Directors and Auditors thereon.
2. To approve the payment of a Final Dividend of 5.0 sen per ordinary share, less tax, for the financial
year ended 31 December 2005.
3. To re-elect the following Directors, each of whom retires by rotation in accordance with Article
94 of the Company’s Articles of Association:i)
YBhg Datuk Syed Ahmad Khalid bin Syed Mohammed
ii) Encik Ng Eng Soon
4. To re-elect the following Directors, each of whom retires in accordance with Article 99 of the
Company’s Articles of Association:i)
Encik Lui Chong Chee
ii) Encik Soong Hee Sang
iii) Tuan Syed Azmin bin Mohd Nursin @ Syed Nor
5. To consider and, if thought fit, to pass the following resolution:-
“That pursuant to Section 129(6) of the Companies Act, 1965, YBhg Tan Sri Dato’ Musa bin Hitam be
re-appointed a Director of the Company to hold office until the next Annual General Meeting.”
6. To approve the payment of Directors’ fees for the financial year ended 31 December 2005.
7. To re-appoint Messrs PricewaterhouseCoopers as Auditors of the Company for the ensuing year and
to authorise the Directors to fix their remuneration.
SPECIAL BUSINESS:
8. To consider, and if thought fit, to pass the following ordinary resolution:-
AUTHORITY TO DIRECTORS TO ISSUE SHARES
“THAT subject always to the Companies Act, 1965, the Company’s Articles of Association and
approval of the relevant government/regulatory authorities, the Directors be and are hereby
authorised pursuant to Section 132D of the Companies Act, 1965, to issue shares in the Company at
any time until the conclusion of the next Annual General Meeting and upon such terms and
conditions and for such purposes as the Directors may, in their absolute discretion deem fit,
provided that the aggregate number of shares to be issued does not exceed 10% of the issued share
capital of the Company for the time being.”
9. To transact any other business of the Company for which due notice shall have been received in
accordance with the Companies Act, 1965.
UNITED MALAYAN LAND BHD

84 NOTICE OF ANNUAL GENERAL MEETING (cont’d)
NOTICE IS ALSO HEREBY GIVEN THAT the Final Dividend of 5.0 sen per ordinary share, less tax, for the financial year ended
31 December 2005, if approved by the shareholders at the 45th Annual General Meeting, will be paid on 19 September, 2006 to
all shareholders registered in the Record of Depositors at the close of business on 12 September, 2006.
A Depositor with the Bursa Malaysia Depository Sdn Bhd shall qualify for entitlement to the dividend only in respect of:-
A) Shares transferred into the Depositor’s Securities Account before 12.30 p.m. on 12 September, 2006 in respect of ordinary
transfers; and
B) Shares bought on Bursa Malaysia Securities Berhad on a cum entitlement basis according to the Rules of Bursa Malaysia
Securities Berhad.
BY ORDER OF THE BOARD
ZURAIDAH MOHD YUSOFF
MAICSA 7001552
Company Secretary
Kuala Lumpur
26 May 2006
NOTES:
1. Proxy
• A member entitled to attend and vote at the Annual General Meeting is entitled to appoint a proxy to attend and vote in his stead. A proxy
need not be a member of the Company. The instrument appointing a proxy shall be in writing under the hand of the appointor or his
attorney duly authorised in writing, or if the appointor is a corporation, under its common seal or in some other manner approved by its
directors.
• The Form of Proxy must be deposited at the Company’s Share Registrar, Securities Services (Holdings) Sdn Bhd at Level 7, Menara
Milenium, Jalan Damanlela, Pusat Bandar Damansara, Damansara Heights, 50490 Kuala Lumpur not less than forty-eight (48) hours
before the time set for the meeting or any adjournment thereof.
2. Authority to Directors to Issue Shares
This resolution, if passed, will give powers to the Directors to issue ordinary shares in the capital of the Company up to an aggregate amount
not exceeding 10% of the issued and paid-up share capital of the Company for the time being without having to convene a general meeting.
This authority, unless revoked or varied at a general meeting, will expire at the next Annual General Meeting.
3. Statement Accompanying the Notice of Annual General Meeting
Additional information pursuant to Paragraph 8.28(2) of the Listing Requirements of Bursa Malaysia Securities Berhad is set out in Annexure
A in the Company’s 2005 Annual Report.

STATEMENT ACCOMPANYING NOTICE OF ANNUAL GENERAL MEETING
(Pursuant to Paragraph 8.28(2) of the Listing Requirements of Bursa Malaysia Securities Berhad)
85
ANNEXURE A
Directors who are standing for re-election and re-appointment at the 45th Annual General Meeting of the Company scheduled
to be held on Tuesday, 20 June 2006 at 11.30 a.m. at Nirwana Ballroom 2, Lower Lobby, Crowne Plaza Mutiara Kuala Lumpur,
Jalan Sultan Ismail, 50250 Kuala Lumpur are:-
1. RE-ELECTION PURSUANT TO ARTICLE 94 OF THE COMPANY’S ARTICLES OF ASSOCIATION:a)
YBhg Datuk Syed Ahmad Khalid bin Syed Mohammed (Ordinary Resolution 3)
b) Encik Ng Eng Soon (Ordinary Resolution 4)
2. RE-ELECTION PURSUANT TO ARTICLE 99 OF THE COMPANY’S ARTICLES OF ASSOCIATION:a)
Encik Lui Chong Chee (Appointed on 1 August 2005) (Ordinary Resolution 5)
b) Encik Soong Hee Sang (Appointed on 22 March 2006) (Ordinary Resolution 6)
c) Tuan Syed Azmin bin Mohd Nursin @ Syed Nor (Appointed on 3 May 2006) (Ordinary Resolution 7)
3. RE-APPOINTMENT PURSUANT TO SECTION 129(6), COMPANIES ACT, 1965
a) YBhg Tan Sri Dato’ Musa bin Hitam (Appointed on 26 January 2006) (Ordinary Resolution 8)
Please refer to the Profile of the Board of Directors on pages 8 to 15 of the Annual Report 2005 for further information on the
abovenamed Directors who are standing for re-election and re-appointment.
A total of five (5) Board Meetings were held in the financial year ended 31 December 2005. Details of attendance of Directors
standing for re-election and re-appointment, at the Board Meetings are as follows:-
Name of Directors No. of Meetings Attended
1. YBhg Datuk Syed Ahmad Khalid bin Syed Mohammed 5/5
2. Encik Ng Eng Soon 5/5
3. Encik Lui Chong Chee (Appointed on 1 August 2005) 1/2
4. YBhg Tan Sri Dato’ Musa bin Hitam (Appointed on 26 January 2006) Not Applicable
5. Encik Soong Hee Sang (Appointed on 22 March 2006) Not Applicable
6. Tuan Syed Azmin bin Mohd Nursin @ Syed Nor(Appointed on 3 May 2006) Not Applicable
UNITED MALAYAN LAND BHD

86 PENYATA URUSAN TADBIR KORPORAT
Lembaga Pengarah United Malayan Land Bhd (UM Land atau Syarikat) akan terus
berkomited untuk memastikan piawaian tertinggi diamalkan dalam urusan tadbir korporat
Kumpulan. Ini merupakan tugas utama dalam melaksanakan tanggungjawab mereka
demi perkembangan dan kejayaan berterusan Kumpulan di samping menjaga dan
mempertingkatkan pelaburan dan nilai para pemegang saham sambil melindungi
kepentingan lain-lain pemegang saham berkepentingan dalam Kumpulan.
Lembaga Pengarah dengan sukacitanya melaporkan bahawa Kumpulan telah mengukuhkan
penerapan prinsip-prinsip tersebut dan mematuhi amalan terbaik Kod Urusan Tadbir
Korporat Malaysia (Kod), sepanjang tahun kewangan berakhir 31 Disember 2005.
LEMBAGA PENGARAH
Lembaga Pengarah terdiri daripada ahli-ahli profesional yang berpengalaman luas dalam bidang perniagaan dan kewangan
yang relevan untuk memimpin, meneraju dan menguruskan Kumpulan ke arah pencapaian matlamat dan objektif
perniagaannya.
Komposisi dan Keseimbangan Lembaga Pengarah
Lembaga Pengarah terdiri daripada sembilan (9) orang ahli, yang merangkumi lapan (8) orang Pengarah bukan eksekutif dan
seorang Pengarah eksekutif, di mana empat (4) daripada mereka adalah pengarah bebas. Komposisi ini mematuhi perenggan
15.02 Keperluan Penyenaraian Bursa Malaysia Securities Berhad (Bursa Sekuriti) di mana sekurang-kurangnya dua atau satu
pertiga daripada ahlinya merupakan pengarah bebas. Profil ringkas bagi setiap orang ahli Lembaga dibentangkan di muka
surat 8 hingga 15 Laporan Tahunan ini.
Lembaga Pengarah mengiktiraf bahawa semua Pengarah mempunyai tanggungjawab yang sama dalam menguruskan operasi
Kumpulan. Kehadiran Pengarah bebas bukan eksekutif terutamanya, adalah penting untuk memastikan strategi-strategi yang
dicadangkan oleh Pengurusan dibincangkan dan dikaji sepenuhnya untuk melindungi kepentingan jangka panjang para
pemegang saham dan lain-lain pemegang saham yang berkepentingan di mana Kumpulan mengendalikan perniagaannya.
Terdapat perbezaan nyata dalam pembahagian tugas dan tanggungjawab di antara Pengerusi dan Ketua Pegawai Eksekutif
Kumpulan bagi memastikan keseimbangan kuasa yang wajar.
Pelantikan ke Lembaga Pengarah
Jawatankuasa Pencalonan bertanggungjawab untuk mencadangkan pelantikan ke Lembaga dan jawatankuasa Lembaga. Ini
dibuat untuk memastikan bahawa tahap serta komposisi ahli-ahlinya terdiri daripada mereka yang berkaliber,
berpengalaman dan berkelayakan untuk menerajui dan mengurus Kumpulan dengan berjaya.
Peranan dan Tanggungjawab
Lembaga Pengarah bertanggungjawab sepenuhnya ke atas hala tuju strategik keseluruhan Kumpulan. Ia memastikan bahawa
Pengurusan membangunkan dan mengekalkan dasar dan amalan yang kukuh untuk membantu menggalakkan
pertumbuhan dan meningkatkan nilai pemegang saham secara berterusan. Berhubung dengan ini, Lembaga telah
menjalankan tanggungjawab tersebut selaras dengan Amalan Terbaik Kod:
• Menentukan perancangan strategik Syarikat dan Kumpulan;
• Mengawal selia pengendalian perniagaan Kumpulan;
• Mengenal pasti dan menguruskan risiko-risiko utama yang mempengaruhi Kumpulan;
• Mengkaji kecukupan dan keutuhan sistem kawalan dalaman Kumpulan;
• Melaksanakan perancangan turutan untuk memastikan penggantian Pengurusan dalam Kumpulan dilakukan tepat pada
waktunya; dan
• Mengekalkan program perhubungan dengan pelabur dan polisi komunikasi dengan pemegang saham yang berkesan
untuk Kumpulan.

Mesyuarat
87
Lembaga Pengarah bertemu sekurang-kurangnya empat (4) kali setahun dan mesyuarat tambahan diadakan apabila
perkara-perkara mustahak serta keputusan penting perlu dibuat. Sepanjang tahun kewangan berakhir 31 Disember 2005,
Lembaga Pengarah telah bermesyuarat sebanyak lima (5) kali untuk berbincang dan menimbangkan pelbagai perkara
penting, termasuk mengkaji pelan strategik 5-tahun Kumpulan, penyata kewangan suku tahunan, beberapa cadangan
korporat serta lain-lain urusan perniagaan berkaitan yang memerlukan kelulusan sewajarnya.
Butiran kehadiran setiap orang Pengarah yang berkhidmat pada tahun kewangan berakhir 31 Disember 2005 dibentangkan
di bawah Semua Pengarah yang berkhidmat telah memenuhi keperluan kehadiran minimum sebanyak 50% di bawah
Keperluan Penyenaraian Bursa Sekuriti.
%
Pengarah Kehadiran Kehadiran
Tan Sri Dato’ Musa bin Hitam (Dilantik pada 26 Januari 2006) - Tidak Berkenaan -
Lui Chong Chee (Dilantik pada 1 Ogos 2005) 1/2 50
Dato’ Ng Eng Tee 5/5 100
Datuk Mohd Khamil bin Jamil (Meletak jawatan pada 31 Mac 2006) 4/5 80
Datuk Syed Ahmad Khalid bin Syed Mohammed 5/5 100
Datuk Nur Jazlan bin Tan Sri Mohamed 5/5 100
Dr Choo Kian Koon (Meletak jawatan pada 17 Mac 2006) 5/5 100
Syed Azmin bin Mohd Nursin @ Syed Nor (Dilantik pada 3 Mei 2006) - Tidak Berkenaan -
Ng Eng Soon 5/5 100
Dato’ Mohd Hanafiah bin Omar 4/5 80
Tham Kui Seng (Meletak jawatan pada 1 Ogos 2005) 1/2 50
Pee Tong Lim (Meletak jawatan pada 21 Mac 2005) 1/1 100
Soong Hee Sang (Dilantik sebagai Pengarah Gilir kepada
Lui Chong Chee pada 5 September 2005
dan sebagai Pengarah pada 22 Mac 2006)
- Tidak Berkenaan -
Rita Lau Chen Chen (Pengarah Gilir kepada Dr Choo Kian Koon)
(Meletak jawatan pada 17 Mac 2006)
- Tidak Berkenaan -
Ahmad Shaifuldin bin Mahamad Sharudi (Pengarah Gilir kepada Datuk Mohd Khamil
bin Jamil) (Meletak jawatan pada
10 November 2005)
- Tidak Berkenaan -
Nota: Rekod kehadiran pengarah gilir akan dibaca bersama rekod kehadiran Prinsipal masing-masing.
Bekalan Maklumat
Lembaga Pengarah mempunyai akses penuh tanpa batasan, kepada semua maklumat perniagaan dan hal ehwal Kumpulan
untuk membolehkannya melaksanakan tugas dengan berkesan.
Sebelum setiap mesyuarat Lembaga, Pengurusan akan menyerahkan agenda serta laporan komprehensif bagi setiap perkara
agenda yang akan dibincangkan kepada setiap orang pengarah untuk membolehkan para Pengarah mendapatkan huraian
atau penjelasan lanjut, jika perlu, agar mereka cukup bersedia sebelum mesyuarat berlangsung.
Dalam melaksanakan tugas mereka, Pengarah juga boleh mendapatkan nasihat profesional bebas di bawah tanggungan
Syarikat, jika perlu. Kesemua Pengarah boleh mendapatkan nasihat serta khidmat Setiausaha Syarikat. Setiausaha Syarikat
menguruskan semua perkara berkenaan pentadbiran kesetiausahaan korporat Kumpulan dan menghadiri mesyuarat
Lembaga dan jawatankuasa Lembaga.
UNITED MALAYAN LAND BHD

88 PENYATA URUSAN TADBIR KORPORAT (samb.)
Latihan Para Pengarah
Semua Pengarah telah menyertai dan melengkapkan Program Akreditasi Mandatori yang dikelolakan oleh Bursatra Sdn Bhd
dan telah menghadiri program-program latihan yang relevan di bawah Program Pendidikan Lanjut (CEP).
Berhubung dengan pemansuhan Nota Amalan 15/2003 dan Nota-Nota Panduan 10 bagi keperluan CEP yang berkuatkuasa
pada 1 Januari 2005, para Pengarah tidak lagi diwajibkan untuk menjalani CEP. Bagaimanapun, syarikat-syarikat tersenarai
mesti menilai dan menentukan keperluan latihan para pengarahnya secara berterusan. Para Pengarah Syarikat digalakkan
untuk menghadiri program latihan yang relevan untuk mempertingkatkan kemahiran dan pengetahuan mereka agar
sehaluan dengan perkembangan industri.
Pemilihan Semula
Selaras dengan Tataurusan Syarikat, satu pertiga daripada para Pengarah semasa hendaklah bersara daripada jawatan pada
setiap Mesyuarat Agung Tahunan. Pengarah yang bersara boleh menawarkan diri untuk pemilihan semula.
Pengarah yang dilantik sebagai pengarah tambahan atau untuk mengisi kekosongan dalam tahun adalah tertakluk kepada
pemilihan semula oleh para pemegang saham di Mesyuarat Agung Tahunan yang akan datang, selepas pelantikan mereka.
Pengarah yang berumur lebih tujuh puluh tahun diwajibkan untuk menawarkan diri mereka untuk perlantikan semula setiap
tahun, selaras dengan Seksyen 129 (6) Akta Syarikat, 1965. Buat masa ini, YBhg Tan Sri Dato’ Musa bin Hitam tertakluk kepada
pelantikan semula ini.
Jawatan Pengarah di dalam Syarikat lain
Selaras dengan keperluan Penyenaraian Bursa Sekuriti, setiap orang ahli Lembaga boleh menjadi pengarah bagi tidak lebih
daripada sepuluh (10) syarikat awam tersenarai dan tidak melebihi lima belas (15) syarikat bukan awam tersenarai. Ini bagi
memastikan bahawa komitmen, sumber dan masa mereka tertumpu dalam pemberian input yang berkesan kepada Lembaga
Pengarah dan Syarikat. Semua Pengarah mematuhi syarat ini.
Imbuhan Para Pengarah
Imbuhan para Pengarah ditentukan atas tahap yang membolehkan Syarikat menarik serta mengekalkan Pengarah yang
berpengalaman dengan kemahiran yang relevan bagi menguruskan Kumpulan dengan berkesan. Komponen imbuhan
Pengarah eksekutif disusun agar ia sejajar dengan prestasi korporat serta individu. Bagi Pengarah bukan eksekutif, tahap
imbuhan mereka disesuaikan dengan pengalaman dan tahap tanggungjawab yang dipikul.
Pakej imbuhan bagi Pengarah bukan eksekutif termasuk Pengerusi bukan eksekutif, ditentukan oleh Lembaga Pengarah.
Pengarah yang terbabit perlu mengambil sikap berkecuali dalam perbincangan dan pengundian berhubung ganjaran
individu mereka.
Pakej imbuhan para Pengarah adalah seperti berikut:-
i. Gaji pokok - Gaji pokok bagi Pengarah eksekutif dicadangkan setelah menimbangkan prestasi individu dan kadar gaji
untuk jawatan serupa di dalam syarikat yang setanding.
ii. Yuran - Yuran Pengarah adalah berdasarkan jumlah tetap yang ditentukan oleh Lembaga setelah menimbangkan
organisasi setanding dan penyertaan Pengarah dalam pelbagai jawatankuasa Lembaga. Yuran diluluskan oleh para
pemegang saham di Mesyuarat Agung Tahunan Syarikat.
iii. Skim Bonus - Kumpulan mengamalkan skim bonus tidak berkontrak, bagi para Pengarah eksekutif, yang ditentukan
mengikut tahap keuntungan Kumpulan dan prestasi individu dalam tempoh tersebut. Bonus yang harus dibayar kepada
para Pengarah eksekutif dikaji dan diluluskan oleh Jawatankuasa Imbuhan selepas berunding dengan Lembaga.
iv. Manfaat barangan - Manfaat biasa lain seperti penjagaan perubatan, kereta, pemandu, dll disediakan sewajarnya.
v. Opsyen Saham Pengarah - Para Pengarah eksekutif layak menyertai Skim Opsyen Saham Kakitangan Syarikat menurut
syarat dan peraturan sama seperti yang ditawarkan kepada kakitangan. Pergerakan opsyen saham para Pengarah
eksekutif sepanjang tahun yang ditinjau dinyatakan di dalam penyata kewangan beraudit. Tiada opsyen saham
ditawarkan kepada Pengarah bukan eksekutif sepanjang tahun yang ditinjau.
Ringkasan jumlah imbuhan para Pengarah, yang berbeza bagi Pengarah eksekutif dan Pengarah bukan eksekutif, dalam
agregat mengikut kategori komponen yang bersesuaian serta bilangan pengarah, yang mana imbuhannya termasuk dalam
setiap kelompok urutan RM50,000, bagi tahun kewangan berakhir 31 Disember 2005, dibentangkan seperti berikut:

89
Pengarah Pengarah Bukan
Eksekutif Eksekutif Jumlah
(RM) (RM) (RM)
Gaji pokok dan bonus 450,000 – 450,000
Yuran 25,000 169,000 194,000
Elaun Mesyuarat 9,000 58,000 67,000
Manfaat barangan 20,525 – 20,525
–––––––––––––––––––––––––––––– –––––––––––––––––––––––––––––– ––––––––––––––––––––––––––––––
Jumlah 504,525 227,000 731,525
=========================== =========================== ===========================
Pengarah Pengarah Bukan
Eksekutif Eksekutif Jumlah
(RM) (RM) (RM)
RM 0 - RM50,000 – 8 8
RM50,001 - RM100,000 – 1 1
RM450,001 - RM500,000 – – –
RM500,001 - RM550,000 1 – 1
–––––––––––––––––––––––––––––– –––––––––––––––––––––––––––––– ––––––––––––––––––––––––––––––
Jumlah 1 9 10
=========================== =========================== ===========================
Jawatankuasa Lembaga Pengarah
Lembaga Pengarah telah menyerahkan tanggungjawab tertentu kepada jawatankuasa Lembaga, yang beroperasi mengikut
had bidang rujukan yang jelas, terutamanya untuk membantu Lembaga melaksanakan tugas dan tanggungjawabnya. Dengan
pengecualian terhadap Jawatankuasa Eksekutif, yang telah diberi kuasa oleh Lembaga Pengarah untuk menimbang dan
memutuskan perkara-perkara operasi tertentu mengikut budi bicaranya, tanggungjawab muktamad untuk membuat
keputusan akhir bagi semua perkara terletak pada Lembaga Pengarah.
Jawatankuasa Lembaga berikut telah ditubuhkan oleh Lembaga Pengarah dengan had bidang rujukan yang jelas:
LEMBAGA
PENGARAH
Jawatankuasa Audit
Jawatankuasa
Lembaga
Pengarah
Jawatankuasa Audit
Jawatankuasa Eksekutif
Jawatankuasa Lembaga Tender
Jawatankuasa Imbuhan
Jawatankuasa Pencalonan
Jawatankuasa Risiko
Lembaga Pengarah memberi kuasa kepada Jawatankuasa ini untuk menyiasat sebarang aktiviti di bawah bidang rujukannya
dan turut mempunyai akses tanpa batasan kepada kedua-dua juruaudit dalaman dan luar serta anggota Pengurusan
Kumpulan. Ringkasan aktiviti-aktiviti Jawatankuasa dalam tahun yang ditinjau dinyatakan dalam Laporan Jawatankuasa
Audit dan Bidang Rujukannya yang dibentangkan di muka surat 94 hingga 96 di dalam Laporan Tahunan ini.
UNITED MALAYAN LAND BHD

90 PENYATA URUSAN TADBIR KORPORAT (samb.)
Jawatankuasa Eksekutif
Jawatankuasa Eksekutif (EXCO) berperanan untuk membantu Lembaga mengkaji isu-isu operasi dan kewangan utama, memantau
perkembangan dan prestasi unit-unit perniagaan serta memastikan pencapaian matlamat dan objektif strategik Kumpulan.
Fungsi-fungsi EXCO merangkumi tetapi tidak terbatas kepada:-
• menilai pelan strategik Kumpulan;
• mencadangkan semua pelaburan dan urusan perniagaan penting kepada Lembaga Pengarah;
• menasihati Pengurusan mengenai dasar dan amalan keseluruhan bagi Syarikat dan Kumpulan;
• mengkaji semula penilaian prestasi dan sistem imbuhan untuk digunakan sebagai asas mengukur keberkesanan Pengurusan;
• memantau pembangunan dan pelaksanaan program perhubungan pelabur; dan
• fungsi lain yang mungkin diserahkan oleh Lembaga Pengarah dari masa ke masa.
Jawatankuasa Lembaga Tender
Jawatankuasa ini bertanggungjawab untuk mengawasi proses pemerolehan tender dan kontrak Kumpulan agar mematuhi
dasar serta keperluan relevan Kumpulan. Jawatankuasa turut menimbang, menilai dan meluluskan tender dalam bidang had
kuasa kewangannya dengan mengambil kira pelbagai faktor seperti harga, penggunaan produk dan perkhidmatan serta
factor-faktor lain yang relevan.
Jawatankuasa Imbuhan
Jawatankuasa ini bertanggungjawab untuk mencadangkan rangka kerja imbuhan untuk semua Pengarah eksekutif dengan
memastikan bahawa rangka kerja tersebut mencerminkan prestasi Kumpulan. Jawatankuasa turut mengkaji semula dan
meluluskan gaji tahunan, insentif, perjanjian khidmat dan syarat-syarat pekerjaan bagi Pengarah eksekutif dan kakitangan di
samping mengkaji secara tetap, tahap kompetitif bagi struktur dan dasar imbuhan Kumpulan.
Jawatankuasa Pencalonan
Jawatankuasa Pencalonan mencadangkan kepada Lembaga Pengarah, calon-calon Pengarah bagi Lembaga Pengarah dan
Jawatankuasa Lembaga serta mengkaji semula struktur dan keseimbangan pelantikan di antara eksekutif dan bukan
eksekutif. Ia turut mengkaji kepelbagaian kemahiran dan pengalaman serta kualiti-kualiti lain yang diperlukan.
Jawatankuasa Risiko
Jawatankuasa Risiko membantu Lembaga memfokus dan membincangkan tanggungjawab penyeliaan risiko Kumpulan.
Jawatankuasa Risiko melapor kepada Lembaga Pengarah dan bertanggungjawab untuk mengekalkan sistem pengurusan
risiko yang berkesan untuk menyumbang terhadap pencapaian objektif-objektif strategik, kewangan, operasi dan perniagaan
Kumpulan. Secara muktamadnya, Lembaga bertanggungjawab ke atas kewajipan keseluruhan Kumpulan terhadap kekhilafan
risiko di dalam Kumpulan.
PERHUBUNGAN DENGAN PARA PELABUR DAN KOMUNIKASI DENGAN PARA
PEMEGANG SAHAM
Kumpulan menyokong prinsip Kod untuk menggalakkan penyertaan pemegang saham dan pelabur serta berkomited untuk
mewujudkan komunikasi yang tetap dan proaktif dengan mereka. Saluran komunikasi formal seperti sidang akhbar diadakan
untuk memaklumkan tentang perkembangan penting dalam perniagaan dan operasi. Prosedur-prosedur tetap turut diwujudkan
untuk memastikan maklumat sensitif mengenai harga saham dimaklumkan kepada pihak awam tepat pada masanya.
Sepanjang tahun yang ditinjau, Syarikat telah mengambil bahagian dalam skim penyelidikan Bursa Sekuriti yang bertujuan
untuk memprofilkan syarikat-syarikat tempatan oleh pakar analisis, yang ditubuhkan di bawah Skim Penyelidikan Dana
Pembangunan Pasaran Modal Bursa. Di bawah skim ini, Standard & Poor’s dan CIMB Securities Sdn Bhd akan menyediakan
liputan penyelidikan Syarikat bagi tempoh dua tahun. Objektif penyertaan Syarikat dalam skim penyelidikan ini adalah untuk
mempertingkatkan saluran komunikasi syarikat dengan pemegang saham dan pelabur.

Para pemegang saham juga berpeluang untuk membincangkan pandangan mereka mengenai perkara-perkara yang berkaitan
dengan Syarikat bersama Lembaga Pengarah di Mesyuarat Agung Tahunan dan Mesyuarat Agung Luar Biasa (Mesyuarat
Agung). Lembaga menggalakkan semua pemegang saham untuk menghadiri dan mengambil bahagian dalam perkaraperkara
Mesyuarat Agung. Pemegang saham diberi peluang untuk bertanya mengenai resolusi-resolusi yang dicadangkan
serta prestasi dan aktiviti Kumpulan.
Para pemegang saham dan pelabur juga boleh mengunjungi laman web Syarikat (www.umland.com.my) untuk mendapatkan
maklumat Korporat, keputusan kewangan suku tahunan dan semua pengumuman awam yang dibuat oleh Syarikat.
AKAUNTABILITI DAN AUDIT
Laporan Kewangan
Para Pengarah memastikan bahawa penyata kewangan telah disediakan selaras dengan Akta Syarikat, 1965 dan piawaian
perakaunan berpatutan yang diluluskan oleh Lembaga Piawaian Perakaunan Malaysia agar dapat memberikan penilaian yang
seimbang dan boleh difahami terhadap kedudukan kewangan serta prospek Kumpulan.
Penyata Tanggungjawab Para Pengarah berhubung penyediaan Penyata Kewangan Tahunan
Lembaga Pengarah bertanggungjawab untuk memastikan penyata kewangan memberikan gambaran yang benar dan
saksama mengenai hal ehwal Kumpulan pada akhir tahun kewangan serta aliran tunai bagi tempoh tersebut.
Dalam menyediakan penyata kewangan, para Pengarah telah mematuhi dasar perakaunan yang bersesuaian secara konsisten
dan telah membuat keputusan serta anggaran yang munasabah dan berhemat. Para Pengarah turut memastikan bahawa
semua piawaian perakaunan yang sah telah dipatuhi dan telah menyediakan penyata kewangan berdasarkan andaian bahawa
perniagaan akan berterusan memandangkan para Pengarah mempunyai jangkaan yang munasabah, setelah membuat
siasatan, bahawa Kumpulan dan Syarikat mempunyai sumber yang mencukupi untuk meneruskan operasi sejauh yang
nampak pada masa depan.
Para Pengarah juga bertanggungjawab untuk memastikan Syarikat menyimpan rekod-rekod perakaunan yang mendedahkan
kedudukan kewangan Syarikat dan Kumpulan dengan ketepatan munasabah, yang membolehkan mereka memastikan
bahawa penyata kewangan tersebut mematuhi peruntukan Akta Syarikat, 1965.
Para Pengarah bertanggungjawab untuk mengambil langkah-langkah yang sewajarnya untuk melindungi aset Kumpulan dan
mencegah serta mengesan penipuan dan sebarang perkara lain yang menyimpang dari kebiasaan.
Kawalan Dalaman
Lembaga Pengarah mengakui tanggungjawab mereka terhadap sistem kawalan dalaman Kumpulan yang merangkumi
kawalan kewangan, operasi dan kawalan pematuhan di samping pengurusan risiko.
Penyata Kawalan Dalaman Para Pengarah yang dibentangkan di muka surat 92 hingga 93 Laporan Tahunan ini, memberi
gambaran mengenai keadaan kawalan dalaman Kumpulan.
Hubungan dengan Juruaudit
Lembaga Pengarah mengekalkan hubungan yang profesional dan telus dengan Juruaudit luar dan dalaman Syarikat melalui
Jawatankuasa Audit. Laporan lengkap Jawatankuasa Audit yang menjelaskan peranannya berhubung juruaudit dalaman dan
luar dibentangkan di muka surat 94 hingga 96 Laporan Tahunan ini.
Penyata ini dibuat selaras dengan resolusi Lembaga Pengarah bertarikh 30 Mac 2006.
91
UNITED MALAYAN LAND BHD

92 PENYATA KAWALAN DALAMAN
PENGENALAN
Perenggan 15.27(b) Keperluan Penyenaraian Bursa Malaysia Securities Berhad (“Bursa Sekuriti”) memerlukan pihak lembaga
pengarah syarikat yang disenarai awam untuk mengemukakan dalam laporan tahunannya suatu “penyata tentang keadaan
kawalan dalaman syarikat tersebut sebagai sebuah kumpulan”. Lembaga Pengarah (“Lembaga”) Syarikat adalah komited
untuk mengekalkan keadaan sistem kawalan dalaman Kumpulan yang kukuh dan dengan sukacitanya membentangkan
penyata berikut, yang menggariskan ciri-ciri dan skop kawalan dalaman Kumpulan sepanjang tahun kewangan.
TANGGUNGJAWAB LEMBAGA
Lembaga mempunyai tanggungjawab muktamad terhadap sistem kawalan dalaman Kumpulan termasuk mewujudkan
kawalan persekitaran dan rangka kerja yang bersesuaian serta mengkaji semula kecukupan dan keutuhannya.
Memandangkan terdapatnya had-had yang tidak dapat dielakkan di dalam mana-mana sistem kawalan dalaman, sistem ini
direka untuk menguruskan, berbanding menghapuskan risiko yang boleh mengelakkan pencapaian objektif perniagaan
Kumpulan. Sistem kawalan dalaman merangkumi prosedur pengurusan risiko serta kawalan kewangan, operasi
dan pematuhan.
Lembaga telah menetapkan suatu proses berterusan bagi mengenal pasti, menilai dan menguruskan risiko-risiko penting yang
dihadapi oleh Kumpulan. Proses ini telah dikekalkan sepanjang tahun sehingga ke tarikh kelulusan laporan tahunan dan
penyata kewangan. Ia telah dikaji semula dengan kerap oleh Lembaga dan adalah selaras dengan Penyata Kawalan Dalaman:
Panduan untuk Para Pengarah Syarikat Senarai Awam (“Panduan Kawalan Dalaman”) yang dikeluarkan oleh Pasukan Petugas
Kawalan Dalaman dengan sokongan dan pengesahan daripada Bursa Sekuriti.
Sungguhpun Lembaga mengekalkan kawalan muktamad terhadap isu-isu risiko dan kawalan, ia telah membahagikan
pelaksanaan sistem pengurusan risiko dan kawalan dalaman mengikut rangka kerja yang telah ditetapkan kepada pihak
pengurusan eksekutif. Lembaga telah menetapkan polisi-polisi utama dan telah melaksanakan penilaian khusus berkaitan
sistem pengurusan risiko dan kawalan dalaman Kumpulan.
RANGKA KERJA PENGURUSAN RISIKO ORGANISASI
Lembaga menyokong sepenuhnya isi kandungan Panduan Kawalan Dalaman dan melalui Jawatankuasa Audit, ia berterusan
mengkaji semula kecukupan dan keberkesanan proses pengurusan risiko yang dijalankan di dalam pelbagai unit perniagaan
Kumpulan. Dengan itu, Lembaga telah memformalkan proses mengenal pasti, menilai dan menguruskan risiko-risiko penting
yang dihadapi oleh Kumpulan menerusi penubuhan rangka kerja pengurusan risiko organisasi.
Pihak pengurusan bertanggungjawab terhadap pengurusan risiko, membangun, mengendali dan memantau sistem kawalan
dalaman serta memberi jaminan kepada Lembaga bahawa ia telah dilaksanakan menurut dasar-dasar yang diterima oleh
Lembaga. Jaminan bebas yang selanjutnya diberikan melalui fungsi juruaudit dalaman yang didapati daripada sumber luar
untuk menjalankan audit dalaman ke atas operasi Kumpulan selaras dengan perancangan audit dalaman.
Lembaga percaya bahawa sistem kawalan dalaman yang kukuh harus dikekalkan berdasarkan pemahaman yang jelas serta
penghargaan ke atas unsur-unsur utama rangka kerja pengurusan risiko organisasi Kumpulan seperti yang berikut:
• Melaksanakan satu buku panduan polisi dan prosedur risiko yang menggariskan strategi serta polisi pengurusan risiko,
struktur komunikasi risiko dan pemantauan rangka kerja pengurusan risiko Kumpulan. Dokumen ini adalah tertakluk
kepada kajian dan pembaikan dari masa ke masa untuk mempertingkatkan proses pengurusan risiko.
• Dalam tahun kewangan ini, satu Jawatankuasa Lembaga yang dikenali sebagai Jawatankuasa Risiko telah ditubuhkan
untuk membantu Lembaga mengawal pengurusan risiko secara lebih aktif dan berkesan di dalam Kumpulan UM Land.
Struktur komunikasi risiko telah disemak untuk menggambarkan pembentukan Jawatankuasa Lembaga ini termasuk
penerimapakaian bidang rujukan bagi Jawatankuasa Risiko.
• Sebuah Jawatankuasa Pengurusan Risiko, diketuai oleh Ketua Pegawai Eksekutif Kumpulan, diberi tanggungjawab untuk
mengenal pasti dan melaporkan kepada Jawatankuasa Risiko semua risiko kritikal yang wujud dan berkemungkinan
dihadapi oleh Kumpulan, perubahan risiko serta pelan tindakan pihak pengurusan untuk menguruskan risiko-risiko
tersebut.
• Pelantikan Penyelaras Risiko Kumpulan di peringkat Kumpulan serta Penyelaras Risiko di peringkat unit perniagaan
dapat memastikan adanya kepimpinan, arah tuju serta penyelarasan yang jelas bagi penerapan pengurusan risiko di
seluruh Kumpulan.

93
• Kumpulan pengurusan bagi unit perniagaan masing-masing, telah menghasilkan pelan tindakan berserta skala masa
pelaksanaan bagi mengatasi isu-isu risiko dan kawalan yang penting menurut profil risiko mereka.
• Profil risiko bagi setiap unit perniagaan akan dinilai semula secara kerap dan telah dikemaskinikan sebanyak tiga kali
sepanjang tahun kewangan, selaras dengan program pengurusan risiko. Pengemaskinian berkala ke atas profil unit
perniagaan akan dilaporkan kepada Jawatankuasa Pengurusan Risiko dan Lembaga.
Lembaga beranggapan bahawa rangka kerja pengurusan risiko organisasi adalah kukuh, tetapi masih tertakluk kepada
penambahbaikan yang berterusan, dengan mengambil kira amalan kerja terbaik serta persekitaran perniagaan yang
berubah ubah.
Untuk menggalakkan budaya pengurusan risiko di dalam Kumpulan, sesi latihan pengurusan risiko yang melibatkan
eksekutif dan kakitangan pengurusan berkenaan telah dijalankan pada tahun kewangan untuk mengukuhkan pemahaman
tentang pengurusan risiko syarikat di samping meningkatkan pengetahun dan amalan pengurusan risiko.
FUNGSI AUDIT DALAMAN
Fungsi audit dalaman Kumpulan diserahkan kepada perunding luar yang melapor terus kepada Jawatankuasa Audit.
Audit dalaman akan menaksir kawalan dalaman berkaitan aktiviti utama perniagaan Kumpulan berdasarkan strategi audit
dalaman tahunan yang dikemukakan kepada Jawatankuasa Audit untuk diluluskan. Fungsi audit dalaman mengguna pakai
pendekatan berasaskan risiko dan menyediakan strategi serta perancangan auditnya berdasarkan profil risiko unit-unit
perniagaan utama Kumpulan.
Laporan audit dalaman, termasuk tindakan penambahbaikan yang disarankan oleh pihak pengurusan, akan dikaji semula
oleh Jawatankuasa Audit. Jawatankuasa Audit akan membentangkan penemuannya kepada Lembaga berdasarkan kekerapan
kitaran audit dalaman yang ditetapkan di dalam perancangan strategik audit dalaman.
Untuk maklumat lanjut, sila rujuk kepada Laporan Jawatankuasa Audit.
RISIKO LAIN DAN PROSES KAWALAN
Sistem kawalan dalaman dan pengurusan risiko semasa Kumpulan mempunyai elemen-elemen berikut:
• Terdapatnya struktur organisasi yang secara formal menggariskan dengan jelas tanggungjawab serta pembahagian kuasa.
• Perancangan perniagaan 5-tahun yang menggariskan strategi pencapaian objektif korporat dan perniagaan Kumpulan,
berdasarkan pemantauan prestasi perniagaan Kumpulan.
• Terdapatnya had kuasa kewangan yang diluluskan oleh Jawatankuasa Eksekutif bagi memastikan kebertanggungjawapan
dan pembahagian kuasa yang sewajarnya.
• Terdapatnya sistem kawalan belanjawan di mana belanjawan tahunan disediakan oleh unit-unit perniagaan dan
diluluskan oleh Lembaga. Kajian semula prestasi sebenar berbanding belanjawan kerap dijalankan dan merangkumi
kedua-dua penunjuk utama prestasi kewangan dan bukan kewangan. Semua perubahan penting akan dilaporkan kepada
Lembaga. Tindakan pemulihan yang sewajarnya akan diambil oleh pihak pengurusan, di mana perlu, bagi mengurangkan
kesan daripada perubahan tersebut.
• Prosedur kendalian standard berkaitan bidang pengendalian tertentu telah diwujudkan bagi mengawal selia operasi
harian Kumpulan. Proses kendalian standard ini akan kerap dikaji semula dari masa ke masa untuk mengatasi perubahanperubahan
dalam persekitaran kendalian perniagaan.
KELEMAHAN KAWALAN DALAMAN YANG MENGAKIBATKAN KERUGIAN
PENTING
Tiada sebarang kerugian ketara yang berlaku dalam tahun kewangan semasa akibat daripada kelemahan di dalam kawalan
dalaman. Pihak Pengurusan akan terus mengambil langkah-langkah untuk memperkukuhkan persekitaran kawalan
dalaman.
Penyata ini disediakan selaras dengan resolusi Lembaga Pengarah bertarikh 30 Mac 2006.
UNITED MALAYAN LAND BHD

94 LAPORAN JAWATANKUASA AUDIT
BIDANG TUGAS
Jawatankuasa Audit (JA) telah ditubuhkan oleh Lembaga Pengarah pada tahun 1955 untuk membantu Lembaga Pengarah
melaksanakan tanggungjawab mereka. JA dikawal menurut Bidang Tugas yang dinyatakan di muka surat 95 hingga 96
Laporan Tahunan ini.
KEAHLIAN
Jawatankuasa Audit kini terdiri daripada tiga orang ahli, yang mana dua daripadanya adalah Pengarah bebas bukan eksekutif
iaitu:
1. Datuk Syed Ahmad Khalid bin Syed Mohammed
Pengerusi/Pengarah Bebas Bukan Eksekutif
2. Datuk Nur Jazlan bin Tan Sri Mohamed
Ahli/Pengarah Bebas Bukan Eksekutif
3. Soong Hee Sang
Ahli/Pengarah Bukan Bebas Bukan Eksekutif
(Dilantik pada 22 Mac 2006)
4. Dr Choo Kian Koon
Ahli/Pengarah Bukan Bebas Bukan Eksekutif
(Meletak jawatan pada 17 Mac 2006)
MESYUARAT
JA bersidang sekurang-kurangnya empat kali dalam setahun. Sepanjang tahun kewangan berakhir 31 Disember 2005, JA telah
mengadakan sebanyak lapan (8) mesyuarat. Butiran tentang kehadiran ahli JA dibentangkan seperti di bawah:
Kehadiran
Datuk Syed Ahmad Khalid bin Syed Mohammed 8/8
Datuk Nur Jazlan bin Tan Sri Mohamed 8/8
Dr. Choo Kian Koon 8/8
Soong Hee Sang Tidak Berkenaan
Mesyuarat-mesyuarat tersebut turut dihadiri pengurusan kanan Kumpulan serta juruaudit luaran Kumpulan setelah
dijemput oleh Pengerusi Jawatankuasa untuk memberi pandangan mereka semasa menimbangkan perkara-perkara yang
dibangkitkan.
RINGKASAN AKTIVITI SEPANJANG TAHUN
Jawatankuasa Audit telah menjalankan aktiviti-aktiviti berikut sepanjang tahun kewangan dalam melaksanakan tugas serta
tanggungjawab menurut Bidang Tugas mereka.
• Menyemak dan mencadangkan kepada Lembaga Pengarah kelulusan keputusan kewangan suku tahunan serta akhir
tahun, rancangan audit luaran dan yuran yang berkaitan bagi Kumpulan;
• Menyemak hasil penemuan pemeriksaan audit yang dikendalikan oleh juruaudit luaran sepanjang tahun kewangan;
• Kajian terhadap urus niaga suku tahunan Kumpulan dengan pihak berkaitan yang berulangan dan termaktub di bawah
mandat yang diberikan para pemegang saham dan di mana relevan, urus niaga tambahan pihak berkaitan serta keperluan
pendedahan yang sewajarnya;
• Menyemak dan meluluskan rancangan audit dalaman bagi Kitaran 6 dan 7 termasuk yuran yang berkaitan bagi
Kumpulan;
• Menyemak cadangan audit dalaman yang timbul daripada kajian semula audit dalaman dalam kitaran masing-masing
serta pelan tindakan pengurusan untuk menangani bidang peningkatan utama menurut keutamaan pelaksanaan mereka.

PERANAN AUDIT DALAMAN
95
Kajian semula audit dalaman bagi tahun 2005 meliputi Syarikat, Seri Alam Properties Sdn Bhd, Bangi Heights Development
Sdn Bhd, UM Residences Sdn Bhd, Suasana Sentral Two Sdn Bhd dan Dynasty View Sdn Bhd dengan skop keseluruhan dan
bahagian yang menitikberatkan bidang yang berisiko tinggi dan ketara bagi proses perniagaan berikut:
Proses-proses Strategik
• Pengurusan strategik
Proses-proses utama
• Jualan dan pemasaran
• Pengurusan projek
Proses-proses sumber
• Pengurusan kewangan
• Pengurusan sumber manusia
• Perundangan dan kawal atur
Jawatankuasa Audit telah menyemak keputusan audit dalaman yang dijalankan dan telah menimbangkan hasil penemuan
pentingnya, termasuk cadangan oleh juruaudit dalaman dalam bidang utama dan peluang peningkatan yang ada serta pelan
tindakan pemulihan yang disarankan oleh pihak pengurusan. Susulan kajian semula untuk menentukan status pelaksanaan
pelan tindakan berhubung pemerhatian penting akan dilaksanakan oleh juruaudit dalaman pada kitaran kajian semula yang
berikutnya bersama dengan laporan Pengurusan kepada Jawatankuasa dari masa ke masa tentang langkah-langkah yang
telah diambil untuk menangani bidang peningkatan utama.
BIDANG RUJUKAN JAWATANKUASA AUDIT
KOMPOSISI
Jawatankuasa ini hendaklah dilantik oleh Lembaga Pengarah dari kalangan mereka dan hendaklah terdiri dari tidak kurang
daripada 3 orang ahli, majoriti hendaklah merupakan pengarah bebas Syarikat. Pengerusi Jawatankuasa hendaklah
merupakan pengarah bebas.
MESYUARAT
Mesyuarat perlu diadakan sekurang-kurangnya empat kali setahun. Satu korum akan dibentuk apabila sebahagian besar
daripada ahli Jawatankuasa merupakan pengarah bebas. Pengerusi boleh memanggil untuk bermesyuarat mengikut
permintaan dari mana-mana ahli Jawatankuasa, Pengarah Urusan dan juruaudit dalaman serta luaran. Kehadiran kakitangan,
pengarah lain, wakil juruaudit dalaman serta luaran di mesyuarat tersebut bergantung kepada jemputan daripada pihak
Jawatankuasa.
Setiausaha Syarikat atau Penolong Setiausaha Syarikat atau mana-mana individu yang dilantik oleh Jawatankuasa hendaklah
menjadi Setiausaha Jawatankuasa Audit. Setiausaha bertanggungjawab mengambil minit mesyuarat dan mengedarkannya
kepada setiap orang ahli Jawatankuasa dan Lembaga Pengarah.
BIDANG KUASA
Jawatankuasa ini diberi kuasa oleh Lembaga Pengarah untuk menyiasat sebarang aktiviti mengikut bidang rujukannya dan
akan mempunyai akses tanpa batasan kepada juruaudit dalaman dan juruaudit luaran serta ahli pengurusan Kumpulan.
Jawatankuasa ini turut diberi kuasa oleh Lembaga Pengarah untuk mendapatkan nasihat profesional bebas dan mendapatkan
sumber-sumber luar yang berpengalaman dan berkemahiran relevan jika dianggap perlu dalam melaksanakan tugas mereka.
UNITED MALAYAN LAND BHD

96 LAPORAN JAWATANKUASA AUDIT (samb.)
BIDANG RUJUKAN JAWATANKUASA AUDIT (samb.)
TUGAS
Tugas-tugas Jawatankuasa adalah:-
• Untuk mempertimbangkan pelantikan, peletakan jawatan dan penyingkiran juruaudit luaran serta yuran audit;
• Untuk membincangkan dengan juruaudit luaran:
– Perancangan audit;
– Penilaian mereka terhadap sistem kawalan dalaman; dan
– Laporan audit berkaitan penyata kewangan.
• Untuk memastikan penyelarasan proses audit luaran di mana lebih daripada satu firma juruaudit terlibat;
• Untuk menyemak bantuan yang diberikan kepada juruaudit luaran dan dalaman oleh kakitangan Kumpulan;
• Untuk menyemak penyata kewangan suku tahunan dan akhir tahun Syarikat, dengan tumpuan khusus kepada:
– Perubahan dalam dasar dan amalan perakaunan;
– Peristiwa penting dan luar biasa;
– Pelarasan penting yang timbul daripada audit;
– Andaian bahawa perniagaan akan berterusan; dan
– Pematuhan kepada piawaian perakaunan dan keperluan perundangan yang lain.
• Untuk membincangkan hasil penemuan serta perkara-perkara yang timbul daripada audit sementara dan akhir, dan
sebarang perkara yang ingin dibincangkan oleh juruaudit;
• Untuk menyemak surat pengurusan daripada juruaudit dalaman dan luaran serta jawapan balas pihak pengurusan;
• Untuk melakukan yang berikut, di mana fungsi audit dalaman wujud:
– Menyemak sama ada skop, fungsi dan sumber jabatan audit dalaman adalah mencukupi kuasa yang diperlukan
untuk menjalankan tugasnya;
– Menyemak program audit dalaman serta keputusan proses audit dalaman dan di mana perlu, memastikan tindakan
yang sewajarnya diambil berkaitan cadangan juruaudit dalaman; dan
– Menyemak sebarang penilaian atau taksiran tentang prestasi anggota juruaudit dalaman.
• Untuk menyemak sebarang urus niaga pihak berkaitan serta kemungkinan timbulnya percanggahan kepentingan di
dalam Syarikat atau Kumpulan;
• Untuk menimbangkan penemuan penting daripada penyiasatan dalaman serta penyiasatan khas dan jawapan balas pihak
pengurusan; dan
• Untuk menimbangkan perkara-perkara lain sebagaimana yang ditetapkan oleh Lembaga Pengarah.

MAKLUMAT PEMATUHAN TAMBAHAN
1. BELIAN BALIK SAHAM
97
Sepanjang tahun kewangan, Syarikat telah membeli balik 76,800 sahamnya daripada pasaran terbuka Bursa Sekuriti
dengan jumlah balasan sebanyak RM75,356. Butiran belian balik saham adalah seperti berikut:
Bil. Saham Harga Kasar Harga Kasar Harga Kasar
Biasa Jumlah Tertinggi Terendah Purata
Bernilai Balasan Sesaham Sesaham Sesaham
Bulan RM1 Sesaham Pembelian* Dibayar Dibayar Dibayar
RM RM RM RM
Januari 1,100 1,229 1.040 0.995 1.010
Februari 900 1,024 1.020 0.995 1.007
Mac 2,300 2,442 1.010 0.985 0.994
April 2,700 2,794 1.020 0.940 0.967
Mei 12,800 12,431 1.000 0.930 0.949
Jun 11,400 11,009 1.120 0.920 0.943
Julai 1,600 1,820 1.040 0.990 1.015
Ogos 600 690 1.060 1.020 1.042
September 17,800 17,117 1.020 0.935 0.948
Oktober 5,600 5,731 1.030 0.920 0.993
November 14,500 13,776 0.990 0.900 0.936
Disember 5,500 5,293 0.995 0.900 0.926
––––––––––––––––––––––––––––––––––––––––––––––
76,800 75,356
––––––––––––––––––––––––––––––––––––––––––
* Termasuk kos sampingan seperti komisyen, yuran penjelasan dan duti setem.
Sejak pelaksanaan skim belian balik saham, Syarikat telah membeli balik 388,700 sahamnya dengan jumlah balasan
termasuk kos sampingan berjumlah RM449,807 atau pada harga kasar purata RM1.140 sesaham. Saham-saham tersebut
kini disimpan sebagai saham perbendaharaan.
2. KONTRAK-KONTRAK PENTING
Kecuali dinyatakan di bawah ini, Syarikat dan/atau anak syarikat tiada sebarang kontrak penting yang melibatkan
kepentingan para pengarah dan pemegang saham utama, sama ada ia masih wujud pada penghujung tahun kewangan,
atau jika ia tidak wujud, dibuat sejak penghujung tahun kewangan sebelumnya:
(i) Pada 7 Mac 2003, UM Residences Sdn Bhd (“UMR”), sebuah anak syarikat milik penuh Syarikat, telah memasuki
perjanjian usaha sama dengan Liang Court (Malaysia) Sdn Bhd (“LCSB”), sebuah anak syarikat CapitaLand Limited,
yang merupakan pemegang saham utama Syarikat, bagi menubuhkan sebuah perkongsian usaha sama
(“Perkongsian”) untuk mentadbir aspek-aspek penting serta perjalanan perniagaan berhubung pengendalian dan
pengurusan yang berikut:
(a) 48 unit pangsapuri khidmat Seri Bukit Ceylon yang terletak di antara tingkat 5 dan 8, yang telah dibeli oleh
LCSB bagi tujuan perjanjian penyewaan yang akan dibuat di antara LCSB dan Perkongsian;
(b) 48 unit pangsapuri khidmat Seri Bukit Ceylon lain yang terletak di antara tingkat 9 dan 12, bagi tujuan
perjanjian penyewaan yang akan dibuat di antara UMR dan Perkongsian; dan
(a) dan (b) secara kolektif dirujuk sebagai “Pangsapuri Khidmat Somerset” dan
(c) unit-unit lain pangsapuri khidmat Seri Bukit Ceylon yang dimiliki oleh pemilik-pemilik individu (selain
daripada LCSB dan UMR) (“Pangsapuri Khidmat Korporat”) yang disewakan kepada UMR atau penamanya
selaras dengan perjanjian penyewaan untuk penyewaan semula kepada pihak ketiga yang berikutnya.
(a), (b) dan (c) secara kolektif dirujuk sebagai “Perniagaan”, oleh Perkongsian.
UNITED MALAYAN LAND BHD

98 MAKLUMAT PEMATUHAN TAMBAHAN (samb.)
Perkongsian juga telah memasuki perjanjian pengurusan bertarikh 7 Mac 2003 dengan Ascott International
Management (Malaysia) Sdn Bhd (“AIM”), anak syarikat CapitaLand Limited, iaitu pemegang saham utama
Syarikat, bertujuan mengambil dan melantik AIM untuk mengendali, menyelenggara, mengurus dan memasarkan
Perniagaan untuk dan bagi pihak Perkongsian. Sebagai balasan kepada perkhidmatan pengurusan yang akan
diberikan oleh AIM, Perkongsian telah bersetuju untuk membayar, antara lain, yuran-yuran berikut kepada AIM
bagi setiap tahun ia beroperasi semasa tempoh 5 tahun terawal dari tarikh permulaannya.
• 3% daripada jumlah hasil Pangsapuri Khidmat Somerset bagi tahun operasi tersebut;
• 10% daripada untung kasar operasi Pangsapuri Khidmat Somerset bagi tahun operasi tersebut, dan
• 5% daripada jumlah hasil Pangsapuri Khidmat Korporat bagi tahun operasi tersebut.
(ii) Perjanjian usaha sama dan pemegang-pemegang saham bertarikh 28 April 2004 di antara Syarikat dan Malaysian
Resources Corporation Berhad (“MRCB”) untuk mentadbir sebuah syarikat usaha sama, iaitu Suasana Sentral Two
Sdn Bhd (“SSTwo”), untuk projek pembangunan kondominium Suasana Sentral Loft di Kuala Lumpur Sentral.
(iii) Perjanjian penyewaan bertarikh 6 Oktober 2004 di antara Syarikat dan Tradewinds Corporation Berhad,
iaitu pemegang saham utama Syarikat. Perjanjian ini adalah untuk penyewaan ruang pejabat pada harga
RM34,326.60 sebulan selama 3 tahun, dari 1 Ogos 2004 hingga 31 Julai 2007.
(iv) Perjanjian pengurusan bertarikh 2 Januari 2005 di antara SSTwo, sebuah anak syarikat, dan CapitaLand Residential
Limited, sebuah pemegang saham utama syarikat. Perjanjian pengurusan ini adalah untuk tujuan pemerolehan
khidmat pengurusan pada harga 17,026 Dolar Singapura sebulan bagi tempoh di antara 1 Januari 2005 hingga
30 Jun 2005
(v) Perjanjian jual beli bertarikh 31 Mac 2005 di antara SSTwo dan Datuk Mohd Khamil bin Jamil bagi jualan
kondominum untuk balasan tunai sebanyak RM659,072. Datuk Mohd Khamil bin Jamil adalah bekas pengarah
Syarikat dan SSTwo.
(vi) Perjanjian jual beli bertarikh 31 Mac 2005 di antara SSTwo dan Pee Tong Lim bagi jualan kondominium untuk
balasan tunai sebanyak RM562,108. Pee Tong Lim adalah Pemangku Ketua Pegawai Eksekutif bagi Syarikat dan
Pengarah SSTwo.
(vii) Perjanjian jual beli bertarikh 5 April 2005 dan 9 Ogos 2005 di antara SSTwo dan Shahril Ridza bin Ridzuan bagi
jualan dua buah kondominium untuk jumlah balasan tunai sebanyak RM991,078. Shahril Ridza bin Ridzuan
adalah pengarah SSTwo dan MRCB, iaitu pemegang saham utama SSTwo.
(viii) Perjanjian jual beli bertarikh 11 April 2005 di antara SSTwo dan Dato’ Ahmad bin Hj Ibnihajar bagi jualan
kondominium untuk balasan tunai sebanyak RM416,505. Dato’ Ahmad bin Hj. Ibnihajar adalah pengarah MRCB.
(ix) Perjanjian jual beli bertarikh 12 April 2005 di antara SSTwo dan Wan Abdullah bin Wan Ibrahim bagi jualan
kondominium untuk balasan tunai sebanyak RM607,220. Wan Abdullah bin Wan Ibrahim adalah bekas pengarah
gilir SSTwo dan bekas Ketua Pegawai Eksekutif Kumpulan bagi Syarikat.
(x) Perjanjian jual beli bertarikh 19 April 2005 di antara SSTwo dan Datuk Azlan bin Mohd Zainol bagi jualan
kondominium untuk balasan tunai sebanyak RM653,072. Datuk Azlan bin Mohd Zainol adalah pengarah MRCB.
(xi) Perjanjian jual beli bertarikh 25 April 2005 di antara SSTwo dan Abdul Rahman bin Ahmad bagi jualan
kondominium untuk balasan tunai sebanyak RM493,800. Abdul Rahman bin Ahmad adalah pengarah MRCB.
(xii) Perjanjian jual beli bertarikh 25 April 2005 di antara SSTwo dan Dennis Ng Yew Kim bagi jualan kondominium
untuk balasan tunai sebanyak RM672,592. Dennis Ng Yew Kim adalah anak kepada Dato’ Ng Eng Tee, iaitu
pengarah SSTwo dan pemegang saham utama serta pengarah Syarikat.
(xiii) Perjanjian jual beli bertarikh 28 April 2005 di antara SSTwo dan Ahmad Zaki bin Zahid bagi jualan kondominium
untuk balasan tunai sebanyak RM647,072. Ahmad Zaki bin Zahid adalah pengarah MRCB.

2. KONTRAK-KONTRAK PENTING (samb.)
99
(xiv) Perjanjian jual beli bertarikh 29 April 2005 di antara SSTwo dan Datuk Nur Jazlan bin Tan Sri Mohamed bagi jualan
kondominium untuk balasan tunai sebanyak RM639,072. Datuk Nur Jazlan bin Tan Sri Mohamed adalah pengarah
Syarikat.
(xv) Perjanjian jual beli bertarikh 2 Jun 2005 di antara SSTwo dan Dr Choo Kian Koon bagi jualan kondominium untuk
balasan tunai sebanyak RM398,522. Dr Choo Kian Koon adalah bekas pengarah SSTwo dan Syarikat.
(xvi) Perjanjian jual beli bertarikh 13 Jun 2005 dan 11 Ogos 2005 di antara SSTwo dan Chan Chee Meng bagi jualan dua
buah kondominium untuk jumlah balasan tunai sebanyak RM702,528. Chan Chee Meng adalah pengarah SSTwo.
(xvii) Perjanjian jual beli bertarikh 27 Julai 2005 di antara SSTwo dan Datuk Zahari bin Omar bagi jualan kondominium
untuk balasan tunai sebanyak RM432,461. Datuk Zahari bin Omar adalah pengarah MRCB.
(xviii) Perjanjian usaha sama bertarikh 18 Januari 2006 di antara Syarikat, Bolton Berhad (“Bolton”), Acegoal Pte Ltd
(“Acegoal”) dan Alpine Return Sdn Bhd (“ARSB”) untuk mentadbir ARSB, iaitu syarikat usaha sama untuk projek
pembangunan kondominium yang terletak di kawasan Jalan Mayang, Kuala Lumpur. Menurut perjanjian ini,
modal terbitan dan berbayar ARSB akan ditambahkan kepada RM40,000,000 dan akan dilanggan oleh Syarikat,
Bolton dan Acegoal, pada kadar 35%, 35% dan 30% masing-masing. Acegoal adalah anak syarikat milik penuh tidak
langsung CapitaLand Limited, iaitu pemegang saham utama Syarikat.
3. YURAN-YURAN BUKAN AUDIT
Yuran bukan audit yang dibayar kepada juruaudit luaran bagi tahun kewangan berakhir 31 Disember 2005
berjumlah RM79,420.
4. URUSNIAGA PIHAK BERKAITAN YANG BERULANG DAN BERBENTUK
PENGHASILAN ATAU PERNIAGAAN
Pada mesyuarat agung luar biasa yang diadakan pada 28 Jun 2005, Syarikat telah memperolehi mandat daripada para
pemegang saham untuk membenarkan Syarikat dan/atau anak syarikatnya memasuki urusniaga pihak berkaitan, yang
berulang dan berbentuk penghasilan atau perniagaan. Menurut Perenggan 10.09 (1)(b) Keperluan Penyenaraian Bursa
Sekuriti, butiran urusniaga pihak berkaitan yang berulang yang dilaksanakan sepanjang tahun kewangan semasa adalah
seperti berikut:
Pihak Berkaitan Jenis
yang Diberi Mandat Urusniaga Nilai
RM
Pihak yang Berkepentingan
Bangi Heights Development Peruntukan 1,920,000 Pemegang Saham Utama yang
Sdn Bhd khidmat Berkepentingan
pengurusan • CapitaLand Limited
Pengarah yang Berkepentingan
• Lui Chong Chee
• Soong Hee Sang
Bekas Pengarah yang Berkepentingan
• Tham Kui Seng
• Dr Choo Kian Koon
• Rita Lau Chen Chen
UNITED MALAYAN LAND BHD

100 MAKLUMAT PEMATUHAN TAMBAHAN (samb.)
4. URUSNIAGA PIHAK BERKAITAN YANG BERULANG DAN BERBENTUK
PENGHASILAN ATAU PERNIAGAAN (samb.)
Pihak Berkaitan Jenis
yang Diberi Mandat Urusniaga Nilai
RM
Pihak yang Berkepentingan
CapitaLand Residential Pemerolehan (338,273) Pemegang Saham Utama yang
Limited khidmat Berkepentingan
pengurusan • CapitaLand Limited
Pengarah yang Berkepentingan
• Lui Chong Chee
• Soong Hee Sang
Bekas Pengarah yang Berkepentingan
• Tham Kui Seng
• Dr Choo Kian Koon
• Rita Lau Chen Chen
Suasana Sentral Two Peruntukan 740,000 Pemegang Saham Utama yang
Sdn Bhd khidmat Berkepentingan
pengurusan • CapitaLand Limited
Pengarah yang Berkepentingan
• Lui Chong Chee
• Soong Hee Sang
Bekas Pengarah yang Berkepentingan
• Tham Kui Seng
• Dr Choo Kian Koon
• Rita Lau Chen Chen
Tradewinds Corporation Penyewaan (496,901) Pemegang Saham Utama yang
Berhad premis Berkepentingan
pejabat • Tradewinds Corporation Berhad
• Perspective Lane (M) Sdn Bhd
• Restu Jernih Sdn Bhd
• Tan Sri Syed Mokhtar Shah bin Syed Nor
Pengarah yang Berkepentingan
• Syed Azmin bin Mohd Nursin @ Syed Nor
Bekas Pengarah yang Berkepentingan
• Datuk Mohd Khamil bin Jamil
• Ahmad Shaifuldin bin Mahamad Sharudi

5. BANTUAN KEWANGAN
101
Pada mesyuarat agung luar biasa yang diadakan pada 28 Jun 2005, Syarikat telah memperolehi mandat daripada para
pemegang saham untuk membenarkan Syarikat dan/atau anak syarikatnya menyediakan/menerima bantuan kewangan
kepada/daripada pihak yang berkaitan. Menurut Perenggan 10.09 (1)(b) Keperluan Penyenaraian Bursa Sekuriti, butiran
bantuan kewangan di beri kepada/diterima daripada pihak berkaitan yang berulang yang dilaksanakan sepanjang tahun
kewangan semasa adalah seperti berikut:
Pihak Berkaitan Jenis Bantuan
Baki Pada
31 Disember
yang Diberi Mandat Kewangan 2005 Pihak yang Berkepentingan
Pengumpulan dana
RM
Bangi Heights Development daripada Syarikat
7,999,208 Pemegang Saham Utama yang
Sdn Bhd dan/atau anak
Berkepentingan
syarikat kepada Bangi
• CapitaLand Limited
Heights Development
Sdn Bhd melalui
pengurusan
perbendaharaan
Pengarah yang Berkepentingan
• Lui Chong Chee
• Soong Hee Sang
berpusat untuk
Bekas Pengarah yang
tempoh tidak
Berkepentingan
melebihi 3 tahun
• Tham Kui Seng
• Dr Choo Kian Koon
• Rita Lau Chen Chen
Pengumpulan dana
Bangi Heights Development daripada Bangi
33,189,707 Pemegang Saham Utama yang
Sdn Bhd Heights Development
Berkepentingan
Sdn Bhd kepada
• CapitaLand Limited
Syarikat dan/atau
anak syarikat
melalui pengurusan
perbendaharaan
Pengarah yang Berkepentingan
• Lui Chong Chee
• Soong Hee Sang
berpusat untuk
Bekas Pengarah yang
tempoh tidak
Berkepentingan
melebihi 3 tahun
• Tham Kui Seng
• Dr Choo Kian Koon
• Rita Lau Chen Chen
Pengumpulan dana
Suasana Sentral Two daripada Syarikat
27,958 Pemegang Saham Utama yang
Sdn Bhd dan/atau anak
Berkepentingan
syarikat kepada
• CapitaLand Limited
Suasana Sentral Two
Sdn Bhd melalui
pengurusan
perbendaharaan
Pengarah yang Berkepentingan
• Lui Chong Chee
• Soong Hee Sang
berpusat untuk
Bekas Pengarah yang
tempoh tidak
Berkepentingan
melebihi 3 tahun
• Tham Kui Seng
• Dr Choo Kian Koon
• Rita Lau Chen Chen
UNITED MALAYAN LAND BHD

102 SENARAI HARTANAH pada 31 Disember 2005
Nilai
Tarikh
Penilaian
Keterangan & Usia Keluasan Buku Semula
Lokasi Kegunaan Semasa Hak Milik Bangunan Tanah Bersih Terakhir
Tahun Ekar RM’000
BANDAR SERI ALAM
Mukim Plentong Tanah kosong Pegangan – 217.98 –
Daerah Johor Bahru - Simpanan kerajaan bebas
6 Jalan Lembah Pejabat korporat Pegangan 9 7.95 16,031
Bandar Seri Alam
81750 Johor Darul Takzim
bebas
1 Jalan Purnama Rumah kelab Pegangan 8 59.16 10,928
Bandar Seri Alam
81750 Johor Darul Takzim
ekuestrian bebas
3 Jalan Persiaran Sekolah Jepun Pegangan 8 5.01 7,867
Bandar Seri Alam
81750 Johor Darul Takzim
bebas
Mukim Plentong Tanah pembangunan Pegangan – 680.21 295,008
Daerah Johor Bahru kosong bebas
- Perumahan 279.58 219,784
-Komersil 2.96 3,847
- Rekreasi & lain-lain 372.28 45,144
- Sekolah & asrama 0.72 744
- Simpanan pertanian 24.67 25,489
Mukim Plentong Pembangunan sedang Pegangan – 7.21 5,674
Daerah Johor Bahru dijalankan
- Perumahan
bebas
Mukim Plentong Tanah pembangunan Pegangan – 910.75 212,438
Daerah Johor Bahru kosong bebas
- Perumahan 468.62 117,157
-Komersil 115.60 42,815
- Perindustrian 49.84 9,534
- Rekreasi & lain-lain 254.78 36,693
- Sekolah & asrama 21.91 6,239
Mukim Plentong Pembangunan sedang Pegangan – 118.27 38,311
Daerah Johor Bahru dijalankan bebas
- Perumahan 116.35 35,963
-Komersil 1.92 2,348
Mukim Plentong Hartanah siap dibina Pegangan – 93.13 53,597
Daerah Johor Bahru - Perumahan bebas 91.95 51,087
-Komersil 1.18 2,510
Jumlah kecil 2,099.67 639,854
Okt ‘96
Mei ‘90

103
Nilai
Tarikh
Penilaian
Keterangan & Usia Keluasan Buku Semula
Lokasi Kegunaan Semasa Hak Milik Bangunan Tanah Bersih Terakhir
Tahun Ekar RM’000
BANDAR SERI PUTRA
Mukim Kajang Tanah pembangunan Pegangan – 178.59 136,288
Daerah Ulu Langat kosong bebas
Selangor - Perumahan 90.79 46,769
-Komersil 87.80 89,519
Mukim Dengkil Tanah pembangunan Pegangan – 25.75 12,141
Daerah Sepang kosong bebas
Selangor - Perindustrian
Mukim Kajang Pembangunan sedang Pegangan – 35.85 36,660
Daerah Ulu Langat dijalankan bebas
Selangor - Perumahan
Mukim Kajang Hartanah siap dibina Pegangan – 4.09 3,768
Daerah Ulu Langat - Lot banglo bebas 3.25 1,919
Selangor - Perumahan 0.07 276
-Komersil 0.77 1,573
Pekan Lama Bangi Hartanah siap dibina Pegangan – 28.24 18,103
Daerah Ulu Langat - Lot banglo bebas 28.20 17,833
Selangor - Perumahan 0.04 270
Jumlah kecil 272.52 206,960
SERI AUSTIN
Mukim Tebrau Tanah kosong Pegangan – 145.06 –
Daerah Johor Bahru - Simpanan kerajaan bebas
Mukim Tebrau Tanah pembangunan Pegangan – 301.89 126,379
Daerah Johor Bahru kosong bebas
- Perumahan 290.54 120,461
-Komersil 11.35 5,918
Mukim Tebrau Pembangunan sedang Pegangan – 44.13 19,112
Daerah Johor Bahru dijalankan
- Perumahan
bebas
Jumlah kecil 491.08 145,491
SERI BUKIT CEYLON
8 Lorong Ceylon Hartanah siap dibina Pegangan – 0.62 3,326
Off Jalan Raja Chulan - Pangsapuri khidmat bebas
50250 Kuala Lumpur dan kondominium
SUASANA SENTRAL LOFT
Lot 80, Seksyen 70 Pembangunan sedang Pegangan – 2.04 36,536
Kuala Lumpur dijalankan
- Perumahan
bebas
Jumlah besar 2,865.93 1,032,167
Nota : Tiada penilaian semula semenjak tarikh pemerolehan
Nota
Nota
Nota
Nota
UNITED MALAYAN LAND BHD

104
DENGAN INI ADALAH DIMAKLUMKAN BAHAWA
MESYUARAT AGUNG TAHUNAN United Malayan Land Bhd yang ke–
akan diadakan untuk urusan-urusan berikut:-
Tempat : Dewan Nirwana 2, Lobi Bawah, Crowne Plaza Mutiara Kuala Lumpur,
Jalan Sultan Ismail, 50250 Kuala Lumpur
Tarikh : Selasa, 20 Jun 2006
Masa : 11.30 pagi
Resolusi Biasa 1
Resolusi Biasa 2
Resolusi Biasa 3
Resolusi Biasa 4
Resolusi Biasa 5
Resolusi Biasa 6
Resolusi Biasa 7
Resolusi Biasa 8
Resolusi Biasa 9
Resolusi Biasa 10
Resolusi Biasa 11
NOTIS MESYUARAT AGUNG TAHUNAN
URUSAN BIASA:
45
1. Untuk menerima Akaun Beraudit bagi tahun kewangan berakhir 31 Disember 2005 beserta
Laporan-Laporan Para Pengarah dan Juruaudit yang berkenaan.
2. Untuk meluluskan bayaran Dividen Akhir sebanyak 5.0 sen sesaham biasa, tolak cukai, bagi tahun
kewangan berakhir 31 Disember 2005.
3. Untuk melantik semula Para Pengarah berikut, di mana setiap dari mereka bersara mengikut
giliran menurut Artikel 94 Tataurusan Syarikat:i)
YBhg Datuk Syed Ahmad Khalid bin Syed Mohammed
ii) Encik Ng Eng Soon
4. Untuk melantik semula Para Pengarah berikut, di mana setiap dari mereka bersara menurut
Artikel 99 Tataurusan Syarikat :i)
Encik Lui Chong Chee
ii) Encik Soong Hee Sang
iii) Tuan Syed Azmin bin Mohd Nursin @ Syed Nor
5. Untuk mempertimbangkan, dan sekiranya difikirkan wajar, meluluskan resolusi berikut:-
“Bahawa menurut Seksyen 129(6) Akta Syarikat, 1965, YBhg Tan Sri Dato’ Musa bin Hitam dilantik
semula sebagai Pengarah Syarikat sehingga Mesyuarat Agung Tahunan yang berikutnya.”
6. Untuk meluluskan bayaran yuran Para Pengarah bagi tahun kewangan berakhir 31 Disember 2005.
7. Untuk melantik semula Tetuan PricewaterhouseCoopers sebagai Juruaudit Syarikat bagi tahun
berikutnya dan memberi kuasa kepada Para Pengarah untuk menetapkan bayaran khidmat
mereka.
URUSAN KHAS:
8. Untuk mempertimbangkan, dan sekiranya difikirkan wajar, meluluskan resolusi biasa berikut:-
KUASA KEPADA PARA PENGARAH UNTUK MENERBITKAN SAHAM
“BAHAWA tertakluk sentiasa kepada Akta Syarikat, 1965, Tataurusan Syarikat dan kelulusan
daripada badan kerajaan/penguatkuasa yang berkenaan, Para Pengarah dengan ini diberi kuasa
menurut Seksyen 132D Akta Syarikat, 1965, untuk menerbitkan saham-saham Syarikat dari
masa ke semasa sehingga tamatnya Mesyuarat Agung Tahunan yang berikutnya berdasarkan
terma-terma dan syarat-syarat dan bagi tujuan-tujuan yang difikirkan wajar dan bersesuaian oleh
Para Pengarah, tertakluk kepada jumlah agregat saham yang akan diterbitkan tidak melebihi 10%
daripada jumlah semasa modal saham diterbit Syarikat.”
9. Untuk membincangkan sebarang urusan lain Syarikat di mana notis yang sewajarnya telah
diterima menurut Akta Syarikat, 1965.

105
DENGAN INI ADALAH JUGA DIMAKLUMKAN BAHAWA Dividen Akhir sebanyak 5.0 sen sesaham biasa, tolak cukai, bagi
tahun kewangan berakhir 31 Disember 2005, sekiranya diluluskan oleh para pemegang saham di Mesyuarat Agung Tahunan
ke-45, akan dibayar pada 19 September, 2006 kepada semua para pemegang saham yang didaftarkan dalam Rekod Pendeposit
pada tarikh penutupan urusniaga pada 12 September, 2006.
Pendeposit yang berdaftar dengan Bursa Malaysia Depository Sdn Bhd adalah layak untuk menerima dividen hanya bagi:-
A) Saham-saham yang dipindahkan kedalam Akaun Sekuriti Pendeposit sebelum 12.30 tengahari pada 12 September, 2006
bagi pemindahan biasa; dan
B) Saham-saham yang dibeli di Bursa Malaysia Securities Berhad atas dasar kelayakan menurut Peraturan-Peraturan Bursa
Malaysia Securities Berhad.
DENGAN PERINTAH LEMBAGA PENGARAH
ZURAIDAH MOHD YUSOFF
MAICSA 7001552
Setiausaha Syarikat
Kuala Lumpur
26 Mei 2006
NOTA-NOTA:
1. Proksi
• Seorang ahli yang berhak hadir dan mengundi di Mesyuarat Agung Tahunan adalah berhak untuk melantik proksi untuk hadir dan
mengundi bagi pihaknya. Seorang proksi itu tidak semestinya ahli Syarikat. Borang Proksi mestilah di isi oleh sipelantik atau ahli guaman
yang diperakukan atau jika sipelantik itu sebuah perbadanan, ianya hendaklah di bawah meterinya atau dikuatkuasakan dalam cara lain
yang diluluskan oleh para pengarahnya.
• Borang Proksi hendaklah diserahkan kepada Pendaftar Saham Syarikat, Securities Services (Holdings) Sdn Bhd di Aras 7,
Menara Milenium, Jalan Damanlela, Pusat Bandar Damansara, Damansara Heights, 50490 Kuala Lumpur tidak lewat daripada 48 jam
sebelum masa yang ditetapkan bagi mesyuarat tersebut atau sebarang penangguhannya.
2. Kuasa kepada Para Pengarah untuk Menerbitkan Saham
Resolusi ini, sekiranya diluluskan, akan memberi kuasa kepada Para Pengarah untuk menerbitkan saham-saham biasa dalam modal
Syarikat sehingga jumlah agregat yang tidak melebihi 10% daripada modal saham diterbitkan dan berbayar semasa Syarikat tanpa
mengadakan mesyuarat agung. Kuasa ini, melainkan dibatalkan atau dipinda di mesyuarat agung, akan tamat pada Mesyuarat Agung
Tahunan yang berikutnya.
3. Penyata Iringan Notis Mesyuarat Agung Tahunan
Maklumat tambahan menurut Perenggan 8.28(2) Keperluan Penyenaraian Bursa Malaysia Securities Berhad adalah dinyatakan
di Lampiran A kepada Laporan Tahunan Syarikat 2005.
UNITED MALAYAN LAND BHD

106
NOTIS MESYUARAT AGUNG TAHUNAN(samb.)
PENYATA IRINGAN NOTIS MESYUARAT AGUNG TAHUNAN
(Menurut Perenggan 8.28(2) Keperluan Penyenaraian Bursa Malaysia Securities Berhad)
LAMPIRAN A
Para Pengarah yang menawarkan diri untuk dipilih dan dilantik semula di Mesyuarat Agung Tahunan ke-45 Syarikat yang
akan diadakan pada hari Selasa, 20 Jun 2006 jam 11.30 pagi di Dewan Nirwana 2, Lobi Bawah, Crowne Plaza Mutiara Kuala
Lumpur, Jalan Sultan Ismail, 50250 Kuala Lumpur adalah:-
1. PEMILIHAN SEMULA MENURUT ARTIKEL 94 TATAURUSAN SYARIKAT:a)
YBhg Datuk Syed Ahmad Khalid bin Syed Mohammed (Resolusi Biasa 3)
b) Encik Ng Eng Soon (Resolusi Biasa 4)
2. PEMILIHAN SEMULA MENURUT ARTIKEL 99 TATAURUSAN SYARIKAT:a)
Encik Lui Chong Chee (Dilantik pada 1 Ogos 2005) (Resolusi Biasa 5)
b) Encik Soong Hee Sang (Dilantik pada 22 Mac 2006) (Resolusi Biasa 6)
c) Tuan Syed Azmin bin Mohd Nursin @ Syed Nor (Dilantik pada 3 Mei 2006) (Resolusi Biasa 7)
3. PERLANTIKAN SEMULA MENURUT SEKSYEN 129(6), AKTA SYARIKAT 1965:a)
YBhg Tan Sri Dato’ Musa bin Hitam (Dilantik pada 26 Januari 2006) (Resolusi Biasa 8)
Sila rujuk kepada Profil Lembaga Pengarah pada muka surat 8 hingga 15 Laporan Tahunan 2005 untuk maklumat lanjut
mengenai Para Pengarah yang menawarkan diri untuk dipilih semula dan dilantik semula.
Pada tahun kewangan berakhir 31 Disember 2005, lima (5) Mesyuarat Lembaga Pengarah telah diadakan. Butir-butir kehadiran
para Pengarah yang menawarkan diri untuk dipilih dan dilantik semula adalah seperti berikut:-
Nama Para Pengarah Bil. Mesyuarat yang dihadiri
1. YBhg Datuk Syed Ahmad Khalid bin Syed Mohammed 5/5
2. Encik Ng Eng Soon 5/5
3. Encik Lui Chong Chee (Dilantik pada 1 Ogos 2005) 1/2
4. YBhg Tan Sri Dato’ Musa bin Hitam (Dilantik pada 26 Januari 2006) Tidak Berkenaan
5. Encik Soong Hee Sang (Dilantik pada 22 Mac 2006) Tidak Berkenaan
6. Tuan Syed Azmin bin Mohd Nursin @ Syed Nor (Dilantik pada 3 Mei 2006) Tidak Berkenaan

107
Financial
Statements
108 Directors’ Report
112 Income Statements
113 Balance Sheets
114 Consolidated Statement of Changes In Equity
115 Company Statement of Changes In Equity
116 Cash Flow Statements
118 Notes To The Financial Statements
149 Statement By Directors/Statutory Declaration
150 Report of The Auditors
UNITED MALAYAN LAND BHD

108
DIRECTORS’ REPORT
for the financial year ended 31 December 2005
The Directors are pleased to submit to the members their annual report and the audited financial statements of the Group and
Company for the financial year ended 31 December 2005.
PRINCIPAL ACTIVITIES
The principal activities of the Company are investment holding and the provision of management services.
The principal activities of the subsidiary companies of the Group are as stated in Note 13 to the financial statements.
There were no significant changes in the nature of these activities during the financial year.
FINANCIAL RESULTS
The financial results of the Group and Company for the financial year ended 31 December 2005 are as follows:
Group Company
RM’000 RM’000
Profit from ordinary activities after tax 33,728 16,985
Minority interests (4,517)
–––––––––––––––––––
–
–––––––––––––––––––
Net profit for the financial year 29,211 16,985
================= =================
DIVIDENDS
The dividends paid by the Company since 31 December 2004 were as follows:
RM’000
In respect of the financial year ended 31 December 2004:
- final dividend of 7.5 sen gross per ordinary share,
less income tax of 28%, paid on 27 September 2005 12,528
=================
In respect of the financial year ended 31 December 2005:
- interim dividend of 2.5 sen gross per ordinary share,
less income tax of 28%, paid on 22 February 2006 4,176
=================
The Directors now recommend the payment of a final dividend of 5.0 sen gross per ordinary share on 231,957,933 ordinary
shares (which is net of 388,700 treasury shares), less income tax of 28%, in respect of the financial year ended 31 December 2005.
This final net dividend amounting to RM8,350,486 is subject to the approval of the members at the forthcoming Annual General
Meeting of the Company.
RESERVES AND PROVISIONS
All material transfers to or from reserves and provisions during the financial year are as disclosed in the financial statements.
EMPLOYEES’ SHARE OPTION SCHEME (“ESOS”)
The Company had implemented an Employees’ Share Option Scheme (“ESOS”) for its eligible employees and Executive Directors of
the Group.
The ESOS was approved by the shareholders at an Extraordinary General Meeting held on 25 June 2003.
Details of the ESOS are as set out in Note 26 to the financial statements.
The Company has been granted exemption by Companies Commission of Malaysia pursuant to Section 169(11) of Companies Act, 1965
from having to disclose the list of options holders and details of their holdings other than options holders who hold options over
200,000 ordinary shares and above. The Company has also been granted exemption from having to disclose the list of Directors and
details of their holdings of options over ordinary shares.

EMPLOYEES’ SHARE OPTION SCHEME (“ESOS”) (cont’d)
109
The movements during the financial year in the number of options over ordinary shares of the Company granted to the options
holders (excluding Directors) who hold options over 200,000 ordinary shares and above are as follows:
Options over ordinary shares of RM1.00 each
Exercise As at As at
Name of employee price/share 1.1.2005 Granted Exercised Lapsed 31.12.2005
RM ’000 ’000 ’000 ’000 ’000
Chia Lui Meng 1.31 206 – – – 206
Henry Leong Hock Seng 1.31 287 – – (287) –
Lau Boon Ann 1.31 216 – – – 216
Lee Kar Fook 1.31 208 – – – 208
Ng Tay Guan 1.31 216 – – – 216
TREASURY SHARES
During the financial year, the Company repurchased its own shares amounting to 76,800 ordinary shares at an average price of
approximately RM0.95 per share from the open market on Bursa Malaysia Securities.
Details of the treasury shares are as set out in Note 26 to the financial statements.
DIRECTORS
The Directors who have held office during the period since the date of the last report are as follows:
Alternate Director
YBhg Tan Sri Dato’ Musa bin Hitam (Appointed on 26 January 2006)
Lui Chong Chee (Appointed on 1 August 2005) Soong Hee Sang (Appointed on 5 September 2005)
Dato’ Ng Eng Tee
Datuk Mohd Khamil bin Jamil (Resigned on 31 March 2006) Ahmad Shaifuldin bin Mahamad Sharudi
(Resigned on 10 November 2005)
Datuk Syed Ahmad Khalid bin Syed Mohammed
Datuk Nur Jazlan bin Tan Sri Mohamed
Ng Eng Soon
Dato’ Mohd Hanafiah bin Omar
Soong Hee Sang (Appointed on 22 March 2006)
Tham Kui Seng (Resigned on 1 August 2005)
Dr Choo Kian Koon (Resigned on 17 March 2006) Rita Lau Chen Chen (Resigned on 17 March 2006)
In accordance with Article 94 of the Company’s Articles of Association, Datuk Syed Ahmad Khalid bin Syed Mohammed and Ng Eng
Soon retire by rotation at the forthcoming Annual General Meeting and, being eligible, offer themselves for re-election.
In accordance with Article 99 of the Company’s Articles of Association, Lui Chong Chee and Soong Hee Sang, who were appointed
during the period, retire at the forthcoming Annual General Meeting and, being eligible, offer themselves for election.
In compliance with Section 129(2) of the Companies Act, 1965, YBhg Tan Sri Dato’ Musa bin Hitam, being over seventy years of age,
retires at the forthcoming Annual General Meeting and be reappointed as Director in accordance with Section 129(6) of the Companies
Act, 1965.
DIRECTORS’ BENEFITS
During and at the end of the financial year, no arrangements subsisted to which the Company is a party, being arrangements with the
object or objects of enabling Directors of the Company to acquire benefits by means of the acquisition of shares in, or debentures of,
the Company or any other body corporate, other than the options over ordinary shares granted by the Company (see Note 7 to the
financial statements).
UNITED MALAYAN LAND BHD

110
DIRECTORS’ BENEFITS (cont’d)
DIRECTORS’ REPORT (cont’d)
Since the end of the previous financial year, no Director has received or become entitled to receive a benefit (other than the Directors’
remuneration as disclosed in Note 7 to the financial statements) by reason of a contract made by the Company or a related corporation
with the Director or with a firm of which he is a member, or with a company in which he has a substantial financial interest except
as disclosed in Note 28 to the financial statements.
DIRECTORS’ INTERESTS IN SHARES AND DEBENTURES
According to the Register of Directors’ Shareholdings, particulars of interests of Directors who held office at the end of the financial
year in the shares and options over ordinary shares in the Company are as follows:
Number of ordinary shares of RM1.00 each
As at As at
1.1.2005 Acquired Disposed 31.12.2005
’000 ’000 ’000 ’000
Shareholdings in the name of the Director
Dato’ Ng Eng Tee 7,888 1,600 (1,600) 7,888
Ng Eng Soon 7,151 – – 7,151
Shareholdings in which the Director is deemed
to have an interest
Dato’ Ng Eng Tee 21,829 216 – 22,045
Ng Eng Soon 17,829 – – 17,829
As at
Number of options over ordinary shares of RM1.00 each
As at
1.1.2005 Granted Exercised Lapsed 31.12.2005
’000 ’000 ’000 ’000 ’000
Dato’ Ng Eng Tee 500 – – – 500
Dato’ Ng Eng Tee and Ng Eng Soon by virtue of their direct and indirect interests in the Company, are deemed to have an interest in
the shares of the subsidiary companies to the extent the Company has an interest.
Other than as disclosed above, according to the Register of Directors’ Shareholdings, the Directors in office at the end of the financial
year did not hold any interest in shares, options over ordinary shares or debentures in the Company and its related corporations during
the financial year.
STATUTORY INFORMATION ON THE FINANCIAL STATEMENTS
Before the income statements and balance sheets were made out, the Directors took reasonable steps:
(a) to ascertain that proper action had been taken in relation to the writing off of bad debts and the making of allowance for doubtful
debts and satisfied themselves that all known bad debts had been written off and that adequate allowance had been made for
doubtful debts; and
(b) to ensure that any current assets, other than debts, which were unlikely to realise in the ordinary course of business their values
as shown in the accounting records of the Group and Company had been written down to an amount which they might be
expected so to realise.
At the date of this report, the Directors are not aware of any circumstances:
for the financial year ended 31 December 2005
(a) which would render the amounts written off for bad debts or the amount of the allowance for doubtful debts in the financial
statements of the Group and Company inadequate to any substantial extent; or
(b) which would render the values attributed to current assets in the financial statements of the Group and Company misleading; or
(c) which have arisen which render adherence to the existing method of valuation of assets or liabilities of the Group and Company
misleading or inappropriate.

STATUTORY INFORMATION ON THE FINANCIAL STATEMENTS (cont’d)
111
No contingent or other liability has become enforceable or is likely to become enforceable within the period of twelve months after
the end of the financial year which, in the opinion of the Directors, will or may affect the ability of the Group or Company to meet
their obligations when they fall due.
At the date of this report, there does not exist:
(a) any charge on the assets of the Group or Company which has arisen since the end of the financial year which secures the liability
of any other person; or
(b) any contingent liability of the Group or Company which has arisen since the end of the financial year.
At the date of this report, the Directors are not aware of any circumstances not otherwise dealt with in this report or the financial
statements which would render any amount stated in the financial statements misleading.
In the opinion of the Directors:
(a) the results of the operations of the Group and Company during the financial year were not substantially affected by any item,
transaction or event of a material and unusual nature; and
(b) except as disclosed in Note 30 to the financial statements, there has not arisen in the interval between the end of the financial
year and the date of this report any item, transaction or event of a material and unusual nature likely to affect substantially the
results of the operations of the Group and Company for the financial year in which this report is made.
CORPORATE INFORMATION
The Company is a public limited liability company, incorporated and domiciled in Malaysia, and listed on the Main Board of
Bursa Malaysia Securities.
The address of the registered office and the principal place of business of the Company is as follows:
Suite 1.1, 1st Floor
Kompleks Antarabangsa
Jalan Sultan Ismail
50250 Kuala Lumpur
Malaysia
Telephone : (603) 2142 1611
Fax : (603) 2142 1826
Website : http: //www.umland.com.my
AUDITORS
The auditors, PricewaterhouseCoopers, have expressed their willingness to continue in office.
Signed on behalf of the Board of Directors in accordance with their resolution dated 20 April 2006.
DATO’ NG ENG TEE DATUK NUR JAZLAN BIN TAN SRI MOHAMED
DIRECTOR DIRECTOR
UNITED MALAYAN LAND BHD

112
Group Company
Note 2005 2004 2005 2004
RM’000 RM’000 RM’000 RM’000
Revenue 4 214,805 164,845 33,035 21,213
Interest income 1,816 1,446 – –
Other operating income 2,603 1,258 1 205
Development costs recognised as expenses (138,369) (101,688) – –
Construction costs recognised as expenses 113 40 – –
Employee benefits expenses 5 (17,209) (12,547) (6,305) (4,771)
Depreciation of property, plant and equipment (1,605) (1,539) (330) (158)
Property, plant and equipment written off – (29) – –
Advertising and promotion expenses (6,092) (2,739) (24) (91)
Upkeep, repairs and maintenance of assets (1,313) (1,303) (296) (195)
Rental of premises (753) (663) (544) (532)
Allowance for doubtful debts (2,453) (3,391) – –
Write-back of allowance for doubtful debts 3,837 5,084 – –
Professional consultancy fees (7,721) (2,776) (350) (261)
Management fees (338) (266) (104) (266)
Other operating expenses (8,926) (7,589) (870) (796)
––––––––––––––––––– ––––––––––––––––––– ––––––––––––––––––– –––––––––––––––––––
Profit from operations 6 38,395 38,143 24,213 14,348
Finance cost 8 (1,544) (1,240) (367) (11)
Share of results of an associated company 8 (1,885) – –
––––––––––––––––––– ––––––––––––––––––– ––––––––––––––––––– –––––––––––––––––––
Profit from ordinary activities before tax 36,859 35,018 23,846 14,337
Tax expense
- Company and subsidiary companies 9 (3,131) (9,313) (6,861) (4,189)
––––––––––––––––––– ––––––––––––––––––– ––––––––––––––––––– –––––––––––––––––––
Profit from ordinary activities after tax 33,728 25,705 16,985 10,148
Minority interests (4,517) (5,140) – –
––––––––––––––––––– ––––––––––––––––––– ––––––––––––––––––– –––––––––––––––––––
Net profit for the financial year 29,211 20,565 16,985 10,148
================= ================= ================= =================
Earnings per share (sen)
INCOME STATEMENTS
for the financial year ended 31 December 2005
- basic 10 12.6 8.9
================= =================
Not Not
- diluted 10 applicable applicable
================= =================
Dividend per share (sen) 11 7.5 7.5 7.5 7.5
================= ================= ================= =================

NON-CURRENT ASSETS
113
Group Company
Note 2005 2004 2005 2004
RM’000 RM’000 RM’000 RM’000
Property, plant and equipment 12 344,388 344,163 1,007 312
Investments in subsidiary companies 13 – – 602,191 597,041
Investment in an associated company 14 2,748 2,740 – –
Other investments 15 2,009 9 2,000 –
Land held for property development 16 178,454 206,985 – –
Long term trade receivables 17 4,004 3,774 – –
Deferred tax assets 18 17,861
–––––––––––––––––––
14,658
–––––––––––––––––––
–
–––––––––––––––––––
–
–––––––––––––––––––
549,464 572,329 605,198 597,353
––––––––––––––––––– ––––––––––––––––––– ––––––––––––––––––– –––––––––––––––––––
CURRENT ASSETS
BALANCE SHEETS
Completed properties 19 79,291 83,419 – –
Property development costs 20 431,848 391,284 – –
Tax recoverable 62 6,258 291 291
Trade and other receivables 21 83,581 72,161 168,869 155,791
Deposits, bank and cash balances 22 47,585
–––––––––––––––––––
18,089
–––––––––––––––––––
6,574
–––––––––––––––––––
881
–––––––––––––––––––
642,367 571,211 175,734 156,963
––––––––––––––––––– ––––––––––––––––––– ––––––––––––––––––– –––––––––––––––––––
LESS: CURRENT LIABILITIES
Trade and other payables 23 79,741 61,068 3,117 1,478
Provision
Borrowings (secured)
24 950 20,777 – –
- bank overdrafts 25 15,915 8,060 – –
- others 25 134,032 131,075 – –
Current tax liabilities 5,753 8,089 3,287 3,322
Dividend payable 11 4,176 – 4,176 –
––––––––––––––––––– ––––––––––––––––––– ––––––––––––––––––– –––––––––––––––––––
240,567 229,069 10,580 4,800
––––––––––––––––––– ––––––––––––––––––– ––––––––––––––––––– –––––––––––––––––––
NET CURRENT ASSETS 401,800 342,142 165,154 152,163
LESS : NON-CURRENT LIABILITIES
Deferred tax liabilities 18 32,788 36,506 652 22
Borrowings 25 112,673 89,600 20,000 –
––––––––––––––––––– ––––––––––––––––––– ––––––––––––––––––– –––––––––––––––––––
805,803 788,365 749,700 749,494
================= ================= ================= =================
CAPITAL AND RESERVES
as at 31 December 2005
Share capital 26 232,347 232,347 232,347 232,347
Reserves 27 514,055 501,623 517,353 517,147
––––––––––––––––––– ––––––––––––––––––– ––––––––––––––––––– –––––––––––––––––––
Shareholders’ equity 746,402 733,970 749,700 749,494
Minority interests 59,401 54,395 – –
––––––––––––––––––– ––––––––––––––––––– ––––––––––––––––––– –––––––––––––––––––
805,803 788,365 749,700 749,494
================= ================= ================= =================
Net tangible assets per share 10 RM3.22 RM3.16
================= =================
UNITED MALAYAN LAND BHD

114
CONSOLIDATED STATEMENT OF
CHANGES IN EQUITY for the financial year ended 31 December 2005
Share Share Revaluation Capital Treasury Retained Revaluation
Note capital premium reserves reserves shares earnings reserves* Total
RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 RM’000
As at 1 January 2005
Treasury shares
acquired (76,800
232,347 60,428 244,969 (41,300) (374) 183,334 54,566 733,970
ordinary shares)
Realisation of
26 – – – – (75) – – (75)
revaluation reserves
Net profit for the
– – (4,224) – – – 4,224 –
financial year
Dividend paid for the
financial year ended
– – – – – 29,211 – 29,211
31 December 2004
Interim dividend
payable for the
financial year ended
11 – – – – – (12,528) – (12,528)
31 December 2005 11 – – – – – (4,176) – (4,176)
–––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––
As at 31 December 2005 232,347 60,428 240,745 (41,300) (449) 195,841 58,790 746,402
==========================================================================================================================================================
As at 1 January 2004 232,346 60,429 243,527 (41,300) (349) 171,123 53,789 719,565
Share issue expenses
Treasury shares
acquired (21,900
– (1) – – – – – (1)
ordinary shares)
Issuance of ordinary
shares on exercise
26 – – – – (25) – – (25)
of ESOS
Realisation of
1 – – – – – – 1
revaluation reserves
Reversal of deferred
– – (777) – – – 777 –
tax liabilities
Net profit for the
– – 2,219 – – – – 2,219
financial year
Dividend paid for the
financial year ended
– – – – – 20,565 – 20,565
31 December 2003 – – – – – (8,354) – (8,354)
–––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––
As at 31 December 2004 232,347 60,428 244,969 (41,300) (374) 183,334 54,566 733,970
==========================================================================================================================================================
* This represents the accumulated revaluation reserves which have already been realised.

COMPANY STATEMENT OF
CHANGES IN EQUITY for the financial year ended 31 December 2005
115
Non-distributable Distributable
Share Share Revaluation Treasury Retained Revaluation
Note capital premium reserves shares earnings reserves* Total
RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 RM’000
As at 1 January 2005
Treasury shares acquired
232,347 60,428 385,808 (374) 56,029 15,256 749,494
(76,800 ordinary shares) 26 – – – (75) – – (75)
Net profit for the financial year
Dividend paid for the
financial year ended
– – – – 16,985 – 16,985
31 December 2004
Interim dividend payable
for the financial year
11 – – – – (12,528) – (12,528)
ended 31 December 2005 11 – – – – (4,176) – (4,176)
–––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––
As at 31 December 2005 232,347 60,428 385,808 (449) 56,310 15,256 749,700
=====================================================================================================================================
As at 1 January 2004 232,346 60,429 385,808 (349) 54,235 15,256 747,725
Share issue expenses
Treasury shares acquired
– (1) – – – – (1)
(21,900 ordinary shares)
Issuance of ordinary shares
26 – – – (25) – – (25)
on exercise of ESOS 1 – – – – – 1
Net profit for the financial year
Dividend paid for the
financial year ended
– – – – 10,148 – 10,148
31 December 2003 – – – – (8,354) – (8,354)
–––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––
As at 31 December 2004 232,347 60,428 385,808 (374) 56,029 15,256 749,494
=====================================================================================================================================
* This represents the accumulated revaluation reserves which have already been realised.
UNITED MALAYAN LAND BHD

116
CASH FLOW FROM OPERATING ACTIVITIES
CASH FLOW STATEMENTS
for the financial year ended 31 December 2005
Group Company
2005 2004 2005 2004
RM’000 RM’000 RM’000 RM’000
Net profit for the financial year
Adjustments for:
29,211 20,565 16,985 10,148
Allowance for doubtful debts 2,453 3,391 – –
Write-back of allowance for doubtful debts (3,837) (5,084) – –
Depreciation of property, plant and equipment 1,605 1,539 330 158
Property, plant and equipment written off – 29 – –
Gain on disposal of property, plant and equipment (16) (467) – (205)
Gross dividend income from subsidiary companies – – (23,236) (11,620)
Interest expense 1,544 1,240 367 11
Interest income (1,846) (1,467) (4,524) (5,333)
Loss on disposal of property, plant and equipment – 52 – –
Reversal of unutilised provision for property development costs (10,411) (1,653) – –
Minority interests 4,517 5,140 – –
Share of results of an associated company (8) 1,885 – –
Tax expense 3,131 9,313 6,861 4,189
––––––––––––––––––– ––––––––––––––––––– ––––––––––––––––––– –––––––––––––––––––
Decrease/(increase) in land held for property
development, completed properties and
26,343 34,483 (3,217) (2,652)
property development costs 4,550 (145,986) – –
(Increase)/decrease in receivables (9,826) 4,335 (6,053) 12,146
Increase/(decrease) in payables 11,321 (12,756) (161) 8
––––––––––––––––––– ––––––––––––––––––– ––––––––––––––––––– –––––––––––––––––––
Net cash flow from operations 32,388 (119,924) (9,431) 9,502
Interest paid (11,580) (4,471) (59) (11)
Interest received 1,406 1,192 4,823 3,684
Tax paid (10,674) (9,891) (1,393) (451)
––––––––––––––––––– ––––––––––––––––––– ––––––––––––––––––– –––––––––––––––––––
Net cash flow from operating activities 11,540 (133,094) (6,060) 12,724
––––––––––––––––––– ––––––––––––––––––– ––––––––––––––––––– –––––––––––––––––––

117
Group Company
2005 2004 2005 2004
RM’000 RM’000 RM’000 RM’000
CASH FLOW FROM INVESTING ACTIVITIES
Investment in subsidiary companies – – (5,150) (12,500)
Net dividend income from subsidiary companies – – 12,531 8,366
Proceeds from disposal of property, plant and equipment 230 906 206 300
Purchase of property, plant and equipment (2,044) (226) (1,231) (31)
Treasury shares acquired (75) (25) (75) (25)
––––––––––––––––––– ––––––––––––––––––– ––––––––––––––––––– –––––––––––––––––––
Net cash flow from investing activities (1,889) 655 6,281 (3,890)
––––––––––––––––––– ––––––––––––––––––– ––––––––––––––––––– –––––––––––––––––––
CASH FLOW FROM FINANCING ACTIVITIES
Dividend paid (14,139) (8,354) (12,528) (8,354)
Net drawdown of borrowings
Proceeds from issuance of redeemable
preference shares in a subsidiary company
24,029 131,275 18,000 –
to a minority interest
Proceeds from issuance of ordinary shares in a
2,100 – – –
subsidiary company to a minority interest
Proceeds from issuance of ordinary
– 1,500 – –
shares on exercise of ESOS – 1 – 1
Share issue expenses – (1) – (1)
––––––––––––––––––– ––––––––––––––––––– ––––––––––––––––––– –––––––––––––––––––
Net cash flow from financing activities 11,990 124,421 5,472 (8,354)
––––––––––––––––––– ––––––––––––––––––– ––––––––––––––––––– –––––––––––––––––––
NET INCREASE/(DECREASE) IN
CASH AND CASH EQUIVALENTS 21,641 (8,018) 5,693 480
CASH AND CASH EQUIVALENTS
AT BEGINNING OF THE FINANCIAL YEAR
CASH AND CASH EQUIVALENTS
10,029
–––––––––––––––––––
18,047
–––––––––––––––––––
881
–––––––––––––––––––
401
–––––––––––––––––––
AT END OF THE FINANCIAL YEAR 31,670 10,029 6,574 881
================= ================= ================= =================
Cash and cash equivalents comprise:
Bank and cash balances (Note 22)
Bank balances under Housing
13,982 3,894 6,574 881
Development Accounts (“HDA”) (Note 22) 32,187 14,195 – –
Bank balances under sinking fund (Note 22) 1,416 – – –
Bank overdrafts (Note 25) (15,915) (8,060) – –
––––––––––––––––––– ––––––––––––––––––– ––––––––––––––––––– –––––––––––––––––––
31,670 10,029 6,574 881
================= ================= ================= =================
UNITED MALAYAN LAND BHD

118
1 PRINCIPAL ACTIVITIES
The principal activities of the Company are investment holding and the provision of management services.
The principal activities of the subsidiary companies of the Group are as stated in Note 13 to the financial statements.
There were no significant changes in the nature of these activities during the financial year.
2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
The following accounting policies have been used consistently in dealing with items which are considered material in relation to
the financial statements.
(a) Basis of preparation
The financial statements of the Group and Company have been prepared under the historical cost convention (as modified
to include the revaluation of certain property, plant and equipment and investment in subsidiary companies), unless
otherwise indicated in this summary of significant accounting policies.
The financial statements comply with Malaysian Accounting Standards Board (“MASB”) approved accounting standards in
Malaysia and the provisions of Companies Act, 1965.
The preparation of the financial statements in conformity with MASB approved accounting standards in Malaysia and the
provisions of Companies Act, 1965 requires the Directors to make estimates and assumptions that affect the reported
amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements
and the reported amounts of revenues and expenses during the reported financial year. Although these estimates are based
on the Directors’ best knowledge of current events and actions, actual results may differ from these estimates.
(b) Basis of consolidation
NOTES TO THE FINANCIAL STATEMENTS
for the financial year ended 31 December 2005
The consolidated financial statements include the financial statements of the Company and all its subsidiary companies
made up to the end of the financial year. Subsidiary companies are those companies in which the Group has power to
exercise control over the financial and operating policies so as to obtain benefits from their activities.
Subsidiary companies are consolidated using the acquisition method of accounting except for a subsidiary company
(as disclosed in Note 13 to the financial statements) which was accounted for using the merger method of accounting.
The subsidiary was consolidated prior to 1 January 2002 in accordance with Malaysian Accounting Standard No. 2
“Accounting for Acquisitions and Mergers”, the generally accepted accounting principle prevailing at that time.
The Group has used the exemption provided by Financial Reporting Standard (“FRS”) 1222004 “Business Combinations”
(formerly known as MASB 21) to apply this Standard prospectively. Accordingly, business combinations entered into prior
to 1 January 2002 have not been restated to comply with this Standard.
Under the acquisition method of accounting, subsidiary companies are consolidated from the date control is transferred to
the Group and are no longer consolidated from the date that control ceases. The results of subsidiary companies acquired
or disposed of during the financial year are included from the date of acquisition up to the date of disposal. At the date of
acquisition, the fair values of the subsidiary companies’ net assets are determined and these values are reflected in the
consolidated financial statements. The difference between the cost of acquisition over the fair values of the Group’s share
of the subsidiary companies’ identifiable net assets at the date of acquisition is reflected as goodwill or negative goodwill.
See accounting policy Note 2(d) on goodwill on consolidation. The cost of acquisition is the amount of cash paid and the
fair value at the date of acquisition of other purchase consideration together with directly attributable expenses of
the acquisition.
Under the merger method of accounting, the results of the subsidiary companies are presented as if the merger had been
effected throughout the current and previous financial years. The cost of investment in a merger is recorded at the
aggregate of the nominal value of equity shares issued, cash and cash equivalents and fair values of other considerations.
Expenditure incurred in connection with the merger is recognised as an expense in the income statement. On consolidation,
the cost of the merger is cancelled with the nominal values of the shares received. The excess of the carrying value of the
investment over the nominal value of the shares acquired is treated as a reduction of reserves, whereas an excess of the
nominal value of the shares acquired over the carrying value of the investment is treated as reserve arising on merger and
included as part of shareholders’ equity.

2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (cont’d)
(b) Basis of consolidation (cont’d)
119
All inter-company transactions, balances and unrealised gains on transactions are eliminated; unrealised losses are also
eliminated unless costs cannot be recovered in which case such costs are charged to the income statement immediately.
Where necessary, accounting policies for subsidiary companies have been changed to ensure consistency with the policies
adopted by the Group.
Minority interests are measured at the minority shareholders’ share of the post acquisition fair values of the identifiable
assets and liabilities of the acquiree. Separate disclosure is made of minority interests.
(c) Accounting for associated companies
Associated companies are companies in which the Group exercises significant influence and which are neither subsidiary
companies nor joint ventures of the Group. Significant influence is the power to participate in the financial and operating
policy decisions of the associated companies but not control over those policies. Investments in associated companies are
accounted for in the consolidated financial statements using the equity method of accounting.
Equity accounting involves recognising in the income statement the Group’s share of the results of associated companies
for the financial year. The Group’s investments in associated companies are carried in the balance sheet at an amount that
reflects its share of the net assets of the associated companies. Equity accounting is discontinued when the carrying
amount of the investment in an associated company reaches zero, unless the Group has incurred obligations or guaranteed
obligations in respect of the associated company.
Unrealised gains on transactions between the Group and its associated companies are eliminated to the extent of the
Group’s interest in the associated companies; unrealised losses are also eliminated unless the transaction provides evidence
of impairment of the asset transferred in which case such impairment is charged to the income statement immediately.
Where necessary, in applying the equity method of accounting, adjustments are made to the financial statements of
associated companies to ensure consistency of accounting policies with those of the Group.
(d) Goodwill on consolidation
Goodwill arising on consolidation represents the excess of the cost of acquisition over the fair values of the Group’s share of
the subsidiary and associated companies’ identifiable net assets at the date of acquisition.
Goodwill arising on consolidation is firstly written off against capital reserve arising on consolidation to the extent of the
amount maintained in the balance sheet. In all other cases, goodwill arising on consolidation is charged to the income
statement immediately.
Negative goodwill represents the excess of the fair values of the Group’s share of the subsidiary and associated companies’
identifiable net assets over the cost of acquisition at the date of acquisition.
Negative goodwill is credited to capital reserve arising on consolidation.
(e) Revenue recognition
Revenue from sale of development properties is recognised net of discounts, based on the percentage of completion method.
The stage of completion is measured by reference to the physical proportion of work completed as a percentage of total
physical work of the project as certified by duly appointed consultants.
Revenue from sale of completed properties is recognised net of discounts, in accordance with the terms of the sale and
purchase agreements. The sales consideration of completed properties under instalment schemes are recorded at their fair
values, which is determined by discounting all future receipts using an imputed rate of interest. The difference between
the fair value and the nominal value of the sales consideration is recognised as interest income and taken to the income
statement on a time proportion basis that takes into account the effective yield on the receivables arising from the sale of
completed properties under the instalment schemes over the term of the instalment period.
Revenue from construction contracts is recognised based on the percentage of completion method. The stage of completion
is measured by reference to the proportion that the contract costs incurred for work performed to date bears to the
estimated total costs for the contract as certified by duly appointed consultants.
UNITED MALAYAN LAND BHD

120
2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (cont’d)
(e) Revenue recognition (cont’d)
Gross dividends from investments are taken up in the financial statements when the Company’s right to receive payment
is established.
The following income is recognised on a receivable basis:
- quarry lease rental, land lease rental and rental from properties.
- management fees and project management fees.
- interest income.
Interest on overdue amounts receivable from house buyers is recognised in the income statement as it accrues.
An allowance for doubtful debts is made when the collectibility of this interest is in doubt.
(f) Construction contracts
NOTES TO THE FINANCIAL STATEMENTS (cont’d)
When the outcome of a construction contract can be estimated reliably, contract revenue and contract costs are recognised
over the period of the contract as revenue and expenses respectively. The Group uses the percentage of completion method
to determine the appropriate amount of revenue and costs to recognise in a given period; the stage of completion is
measured by reference to the proportion that the contract costs incurred for work performed to date bear to the estimated
total costs for the contract.
When the outcome of a construction contract cannot be estimated reliably, contract revenue is recognised only to the extent
of contract costs incurred that is probable will be recoverable; contract costs are recognised as expenses in the financial year
in which they are incurred.
Irrespective of whether the outcome of a construction contract can or cannot be estimated reliably, when it is probable that
total contract costs will exceed total contract revenue, the expected loss is recognised as an expense immediately.
The aggregate of the costs incurred and the profit/loss recognised on each contract is compared against the progress billings
up to the end of the financial year. Where costs incurred and recognised profits (less recognised losses) exceed progress
billings, the balance is shown as an amount due from customer on construction contracts under trade and other receivables.
Where progress billings exceed costs incurred plus recognised profits (less recognised losses), the balance is shown as an
amount due to customer on construction contracts under trade and other payables.
(g) Property, plant and equipment
Freehold land is stated at cost or valuation.
Freehold land is not depreciated as it has an infinite life.
The freehold land was revalued by the Directors based on professional valuations carried out by independent professional
valuers. The Directors have applied the transitional provision issued by Malaysian Accounting Standards Board on adoption
of FRS 1162004 “Property, Plant and Equipment” (formerly known as MASB 15), which allows these assets to be stated at their
1990 and 1996 valuations. Accordingly, the valuations have not been updated.
Surpluses arising on revaluation are credited to non-distributable revaluation reserves. Deficits arising on revaluation are
charged against non-distributable revaluation reserves to the extent of previous surpluses credited to non-distributable
revaluation reserves of the same asset. In all other cases, a decrease in carrying amount is charged to the income statement.
All other property, plant and equipment are stated at cost less accumulated depreciation and accumulated impairment losses.
All other property, plant and equipment are depreciated on a straight line basis over their estimated useful lives,
summarised as follows:
Buildings 5%
Furniture, fittings and equipment 20% - 33.33%
Motor vehicles 20%
Plant and machinery 20%
Stable and equestrian equipment 20%
for the financial year ended 31 December 2005

2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (cont’d)
(g) Property, plant and equipment (cont’d)
Depreciation on assets under construction commences when the assets are ready for their intended use.
121
Where an indication of impairment exists at the balance sheet date, an analysis is performed to assess whether the carrying
amount of the asset is fully recoverable. A write-down is made if the carrying amount exceeds the recoverable amount.
See accounting policy Note 2(i) on impairment of assets.
On disposal of an asset, the difference between the net disposal proceeds and its carrying amount is charged or credited to
the income statement. In the case of revalued land, the amount in non-distributable revaluation reserve relating to these
revalued land which had been disposed is transferred to distributable reserves.
Interest costs on borrowings to finance the construction of property, plant and equipment are capitalised as part of the cost
of the asset during the period of time that is required to complete and prepare the asset for its intended use.
(h) Investments
(i) Subsidiary companies
Investments in subsidiary companies are stated at valuation based on the net tangible assets value of the subsidiary
companies, less accumulated impairment losses. Acquisitions subsequent to valuation date are stated at cost until the
next revaluation. A valuation is conducted at least once in every five years.
An increase in carrying amount arising from revaluation of investments in subsidiary companies is credited directly
to shareholders’ equity as non-distributable revaluation reserves. To the extent that a decrease in carrying amount
offsets a previous increase, for the same investment, that has been credited to non-distributable revaluation reserves
and not subsequently reversed or utilised, it is charged against that non-distributable revaluation reserves. In all other
cases, a decrease in carrying amount is charged to the income statement. An increase on revaluation which is directly
related to a previous decrease in carrying amount for the same investment that was charged to the income statement
is credited to the income statement to the extent that it offsets the previously recorded decrease.
On disposal of a subsidiary company, the difference between the net disposal proceeds and the Group’s share of the
subsidiary company’s net assets is charged or credited to the income statement. The amount in non-distributable
revaluation reserves relating to these subsidiary companies will be transferred to distributable reserves. Goodwill on
acquisition which has been credited or charged to capital reserve arising on consolidation and retained earnings
respectively will be deducted when determining the gain or loss on disposal of a subsidiary company.
Where an indication of impairment exists, the carrying amount of the investments in subsidiary companies is assessed
and written down immediately to its recoverable amount. See accounting policy Note 2(i) on impairment of assets.
(ii) Associated companies and other non-current investments
Investments in associated companies are shown at cost less accumulated impairment losses. Where an indication of
impairment exists, the carrying amount of the investment is assessed and written down immediately to its
recoverable amount.
Investments in other non-current investments are shown at cost and an allowance for diminution in value is made
where, in the opinion of the Directors, there is a decline other than temporary in the value of such investments. Where
there has been a decline other than temporary in the value of an investment, such a decline is recognised as an
expense in the period in which the decline is identified.
On disposal of an investment, the difference between the net disposal proceeds and its carrying amount is charged or
credited to the income statement.
UNITED MALAYAN LAND BHD

122
2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (cont’d)
(i) Impairment of assets
Property, plant and equipment and other non-current assets, including intangible assets, are reviewed for impairment losses
whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. Impairment loss
is recognised for the amount by which the carrying amount of the asset exceeds its recoverable amount. Recoverable
amount is the higher of an asset’s net selling price and value in use. For the purposes of assessing impairment, assets are
grouped at the lowest level for which there are separately identifiable cash flows.
The impairment loss is charged to the income statement unless it reverses a previous revaluation in which case it is charged
to the revaluation reserves. Any subsequent increase in recoverable amount is recognised in the income statement unless
it reverses an impairment loss on a revalued asset in which case it is credited to revaluation reserves.
(j) Trade receivables
Trade receivables are carried at invoiced amount less an allowance for doubtful debts. The allowance is established when
there is objective evidence that the Group will not be able to collect all amounts due according to the original terms of
the receivables.
Trade receivables arising from the sale of completed properties under instalment schemes are recorded at their fair values,
which are determined by discounting all future receipts using an imputed rate of interest.
(k) Income taxes
NOTES TO THE FINANCIAL STATEMENTS (cont’d)
Current tax expense is determined according to the tax law of the jurisdiction in which the Group operates. It includes all
taxes chargeable upon the taxable profits, and real property gains tax payable on disposal of properties.
Deferred tax is recognised in full, using the liability method, on temporary differences arising between the amounts
attributed to assets and liabilities for tax purposes and their carrying amounts in the financial statements.
Deferred tax assets are recognised to the extent that it is probable that taxable profits will be available against which the
deductible temporary differences or unused tax losses can be utilised.
Deferred tax is recognised on temporary differences arising on investments in subsidiary companies and associated
companies except where the timing of reversal of the temporary difference can be controlled and it is probable that the
temporary difference will not reverse in the foreseeable future.
Tax rates enacted or substantively enacted by the balance sheet date are used to determine the deferred tax.
(l) Land held for property development
for the financial year ended 31 December 2005
Land held for property development consists of land upon which no significant development work has been undertaken or
where development activities are not expected to be completed within the normal operating cycle. Such land is classified
as non-current asset and is stated at cost less accumulated impairment losses.
Cost of land includes the purchase price of the land, professional fees, stamp duties, commissions, conversion fees and other
relevant levies. Where the Group had previously recorded the land at revalued amount, it continues to retain this amount
as its surrogate cost as allowed by FRS 201 2004 “Property Development Activities” (formerly known as MASB 32). Where
an indication of impairment exists, the carrying amount of the asset is assessed and written down immediately to its
recoverable amount. See accounting policy Note 2(i) on impairment of assets.
Land held for property development is transferred to “Property development costs” (under current assets) upon
commencement of development activities and where the development activities can be completed within the Group’s
normal operating cycle.

2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (cont’d)
(m) Completed properties
123
Properties which have been completed but not sold are classified as “Completed properties” and are stated at the lower of
cost and net realisable value.
Net realisable value is the estimate of the selling price in the ordinary course of business, less the cost of completion and
selling expenses.
(n) Property development costs
Property development costs comprise cost of land and all costs directly attributable to development activities or that can be
allocated on a reasonable basis to those activities. It includes borrowing costs related to the financing of development
activities of the land, related development costs common to the development project and direct construction costs.
Borrowing costs are included in the property development costs until the completion of the development projects.
When the outcome of the development activities can be estimated reliably, property development revenue and expenses
are recognised by using the percentage of completion method as mentioned in Note 2(e) on revenue recognition.
When the outcome of the development activities cannot be estimated reliably, property development revenue is recognised
only to the extent of property development costs incurred that is probable will be recoverable; property development costs
on the development units sold are recognised when incurred.
Irrespective of whether the outcome of property development activities can or cannot be estimated reliably, when it is
probable that total property development costs will exceed total property development revenue, the expected loss is
recognised as an expense immediately.
Property development costs not recognised as an expense is recognised as an asset and is stated at the lower of cost and net
realisable value.
Where revenue recognised in the income statement exceeds billings to purchasers, the balance is presented as accrued
billings under “Trade and other receivables” (within current assets). Where billings to purchasers exceed revenue
recognised in the income statement, the balance is presented as progress billings under “Trade and other payables” (within
current liabilities).
(o) Provisions
Provisions are recognised when the Group has a present legal or constructive obligation as a result of past events, when it
is probable that an outflow of resources will be required to settle the obligation, and when a reliable estimate of the amount
can be made.
(p) Share capital
(i) Classification
Ordinary shares are classified as equity. Distributions to holders of a financial instrument classified as an equity
instrument are charged directly to equity.
(ii) Share issue costs
Incremental external costs directly attributable to the issue of new shares are shown in equity as a deduction, net of
tax, from the proceeds.
(iii) Dividends to shareholders of the Company
Interim dividends on ordinary shares are recognised as liabilities when proposed.
Final dividend proposed after the balance sheet date is not recognised as a liability at the balance sheet date until its
approval by the shareholders at the Annual General Meeting.
UNITED MALAYAN LAND BHD

124
2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (cont’d)
(q) Treasury shares
Where the Company or its subsidiary companies purchase the Company’s equity share capital, the consideration paid,
including any attributable transaction costs is deducted from total shareholders’ equity as treasury shares until they are
cancelled. Where such shares are subsequently sold or reissued, any consideration received is included in shareholders’ equity.
(r) Employee benefits
(i) Short term employee benefits
Wages, salaries, paid annual leave, sick leave, bonuses, and non-monetary benefits are accrued in the period in which
the associated services are rendered by the employees (including Executive Directors) of the Group.
(ii) Post-employment benefits
The Group has a post-employment benefit scheme whereby contributions are made to Employees’ Provident
Fund (“EPF”), the national defined contribution plan. The Group’s contributions to EPF are charged to the income
statement in the financial period to which they relate. Once the contributions have been paid, the Group has no
further payment obligations.
(iii) Equity compensation benefits
Details of the Group’s Employees’ Share Option Scheme (“ESOS”) are set out in Note 26 to the financial statements.
The Group does not make a charge to the income statement in connection with options over ordinary shares granted.
When the options over ordinary shares are exercised, the proceeds received, net of any transaction costs, are credited
to share capital and share premium.
(s) Contingent liabilities and contingent assets
The Group does not recognise a contingent liability but discloses its existence in the financial statements. A contingent
liability is a possible obligation that arises from past events whose existence will be confirmed by uncertain future events
beyond the control of the Group or a present obligation that is not recognised because it is not probable that an outflow of
resources will be required to settle the obligation. A contingent liability also arises in the extremely rare circumstance
where there is a liability that cannot be recognised because it cannot be measured reliably.
A contingent asset is a possible asset that arises from past events whose existence will be confirmed by uncertain future
events beyond the control of the Group. The Group does not recognise a contingent asset but discloses its existence where
inflows of economic benefits are probable, but not virtually certain.
(t) Cash and cash equivalents
For the purposes of the cash flow statements, cash and cash equivalents comprise cash in hand, bank balances, deposits
held at call with banks, bank overdrafts and short-term, highly liquid investments that are readily convertible to known
amounts of cash and which are subject to an insignificant risk of changes in value.
Bank overdrafts are included within “Borrowings” in current liabilities in the balance sheet.
(u) Reporting currency
NOTES TO THE FINANCIAL STATEMENTS (cont’d)
The financial statements are presented in Ringgit Malaysia.
for the financial year ended 31 December 2005

2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (cont’d)
(v) Financial instruments
Description
125
A financial instrument is any contract that gives rise to both a financial asset of one enterprise and a financial liability or
equity instrument of another enterprise.
A financial asset is any asset that is cash, a contractual right to receive cash or another financial asset from another
enterprise, a contractual right to exchange financial instruments with another enterprise under conditions that are
potentially favourable, or an equity instrument of another enterprise.
A financial liability is any liability that is a contractual obligation to deliver cash or another financial asset to another
enterprise, or to exchange financial instruments with another enterprise under conditions that are potentially
unfavourable.
Financial instruments recognised in the balance sheet
Financial instruments recognised in the balance sheet include deposits, cash and bank balances, investments, receivables,
payables and borrowings. The recognition method adopted for financial instruments recognised in the balance sheet is
disclosed in the individual accounting policy statements associated with each item.
The financial assets and liabilities of the Group and Company are denominated in Ringgit Malaysia.
Fair value estimation for disclosure purposes
In assessing the fair values of financial instruments, the Group uses a variety of methods and makes assumptions that are
based on market conditions existing at each balance sheet date. In particular, the fair values of financial assets and financial
liabilities are estimated by discounting the future contractual cash flows at the current market interest rate available to the
Group for similar financial instruments. Fair values of other investments are determined based on the market value at the
balance sheet date.
The face values of financial assets (less any estimated credit adjustments) and financial liabilities with a maturity period of
less than one year are assumed to approximate their fair values.
3 FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES
The Group is exposed to various financial risks including foreign currency exchange risk, interest rate risk, credit risk, liquidity
risk and cash flow risk in the normal course of business. The Group’s overall financial risk management objective is to ensure that
the Group creates value for its shareholders. The Group focuses on the unpredictability of financial markets and seeks to
minimise potential adverse effects on the financial performance of the Group. Financial risk management is carried out through
risks review and internal control systems. The Board of Directors regularly reviews these risks to ensure that the Group’s financial
risk management policies are adhered to.
(i) Foreign currency exchange risk
The Group is not exposed to currency risk as foreign currency transactions entered into within the Group are minimal.
(ii) Interest rate risk
The Group’s income and operating cash flows are substantially independent of changes in market interest rates. Interest
rate exposure arises from the Group’s borrowings and is managed through the use of fixed and floating rates debts. The
Group is actively monitoring its borrowings to ensure that the Group will benefit most from the operating environment.
(iii) Credit risk
Concentration of credit risk with respect to trade receivables is limited as the ownership and rights to the properties revert
to the Group in the event of default. The Group’s historical experience in collection of trade receivables falls within the
recorded allowances. Due to these factors, management believes that no additional credit risk beyond amounts provided for
collection losses is inherent in the Group’s trade receivables.
UNITED MALAYAN LAND BHD

126
3 FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES (cont’d)
(iv) Liquidity and cash flow risk
Prudent liquidity risk management implies maintaining sufficient cash and the availability of funding through an
adequate amount of committed credit facilities. The Group aims at maintaining flexibility in funding by keepingcommitted
credit lines available.
4 REVENUE
NOTES TO THE FINANCIAL STATEMENTS (cont’d)
2005 2004
RM’000 RM’000
Group
Revenue from property development 219,574 168,773
Less: Revocation of sales (5,782) (4,988)
––––––––––––––––––– –––––––––––––––––––
213,792 163,785
Construction contract 102 –
Quarry lease rental 411 559
Land lease rental 30 30
Rental from properties 440 450
Interest income from short term deposits 30 21
––––––––––––––––––– –––––––––––––––––––
214,805 164,845
================= =================
Company
Dividend income from subsidiary companies
Interest income from short term deposits and
23,236 11,620
advances to subsidiary companies 4,524 5,333
Provision of management services 5,275 4,260
––––––––––––––––––– –––––––––––––––––––
33,035 21,213
================= =================
5 EMPLOYEE BENEFITS EXPENSES
Group Company
2005 2004 2005 2004
RM’000 RM’000 RM’000 RM’000
Wages, salaries and bonus 13,854 10,066 5,121 3,767
Defined contribution retirement plan 1,911 1,435 701 518
Other employee benefits 1,444
–––––––––––––––––––
1,046
–––––––––––––––––––
483
–––––––––––––––––––
486
–––––––––––––––––––
17,209 12,547 6,305 4,771
================= ================= ================= =================
Employee benefits expenses include the remuneration of Executive Directors.
for the financial year ended 31 December 2005
At the end of the financial year, there were 234 (2004: 193) employees in the Group and 51 (2004: 40) employees in the Company.

6 PROFIT FROM OPERATIONS
127
The following items have been (credited)/charged in arriving at profit from operations:
Group Company
2005 2004 2005 2004
RM’000 RM’000 RM’000 RM’000
Interest income from
- short term deposits (32) (21) (30) (21)
- advances to subsidiary companies – – (4,494) (5,312)
- sale of completed properties under instalment schemes (271) (1,072) – –
- others (1,543) (374) – –
Gain on disposal of property, plant and equipment (16) (467) – (205)
Rental income from completed and development properties (515) (481) – –
Auditors’ remuneration
Non statutory audit fees
149 118 35 35
- tax advisory and compliance work 61 34 8 7
- other regulatory work 12 14 8 8
Loss on disposal of property, plant and equipment – 52 – –
Management fees paid and payable to related parties 338 236 104 236
================= ================= ================= =================
7 DIRECTORS’ REMUNERATION
The aggregate amount of emoluments (excluding the estimated monetary value of benefits-in-kind) received and receivable by
the Directors of the Company during the financial year are as follows:
Group Company
2005 2004 2005 2004
RM’000 RM’000 RM’000 RM’000
Executive Directors:
- fees 25 25 25 25
- basic salaries and bonus 450 755 450 755
- defined contribution retirement plan 68 113 68 113
- other emoluments 9 17 9 17
––––––––––––––––––– ––––––––––––––––––– ––––––––––––––––––– –––––––––––––––––––
552 910 552 910
––––––––––––––––––– ––––––––––––––––––– ––––––––––––––––––– –––––––––––––––––––
Non-Executive Directors:
- fees 169 150 169 150
- other emoluments 60 66 60 66
––––––––––––––––––– ––––––––––––––––––– ––––––––––––––––––– –––––––––––––––––––
229 216 229 216
––––––––––––––––––– ––––––––––––––––––– ––––––––––––––––––– –––––––––––––––––––
781 1,126 781 1,126
================= ================= ================= =================
The estimated monetary value of benefits-in-kind provided to the Executive Directors and Non-Executive Directors of the
Company during the financial year by way of usage of the Company’s assets and provision of other benefits amounted to
RM20,525 (2004: RM34,425) and RM22,030 (2004: RM10,100) respectively.
UNITED MALAYAN LAND BHD

128
NOTES TO THE FINANCIAL STATEMENTS (cont’d)
7 DIRECTORS’ REMUNERATION (cont’d)
for the financial year ended 31 December 2005
Executive Directors of the Company have been granted options over ordinary shares under the Employees’ Share Option Scheme
(“ESOS”) on the same terms and conditions as those offered to other employees of the Group (Note 26). Details of these options
over ordinary shares granted to an Executive Director are as follows:
Number of options over ordinary shares of RM1.00 each
Grant Expiry Exercise As at As at
date date price/share 1.1.2005 Granted Exercised Lapsed 31.12.2005
2005
RM ’000 ’000 ’000 ’000 ’000
05.09.2003 04.09.2008 1.31 500 – – – 500
–––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––
500 – – – 500
============================================================================================================
Number of options over ordinary shares of RM1.00 each
As at As at
1.1.2004 Granted Exercised Lapsed 31.12.2004
’000 ’000 ’000 ’000 ’000
2004
05.09.2003 04.09.2008 1.31 500 – – – 500
–––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––
500 – – – 500
============================================================================================================
2005 2004
’000 ’000
Number of options over ordinary shares vested as at balance sheet date 500 500
================= =================
8 FINANCE COST
Group Company
2005 2004 2005 2004
RM’000 RM’000 RM’000 RM’000
Interest expense on:
- revolving credit 789 731 – –
- bank overdrafts 431 122 – –
- term loan 309 387 308 –
- others 15 – – –
- advances from a subsidiary company – – 59 11
––––––––––––––––––– ––––––––––––––––––– ––––––––––––––––––– –––––––––––––––––––
1,544 1,240 367 11
================= ================= ================= =================
9 TAX EXPENSE
Group Company
2005 2004 2005 2004
RM’000 RM’000 RM’000 RM’000
Current tax:
- Malaysian tax 5,527 8,845 6,231 3,676
Deferred tax (Note 18) (2,396) 468 630 513
––––––––––––––––––– ––––––––––––––––––– ––––––––––––––––––– –––––––––––––––––––
3,131 9,313 6,861 4,189
================= ================= ================= =================
Current tax
Current financial year 10,110 9,182 6,171 3,569
(Over)/underaccrual in prior financial years (net) (4,583) (337) 60 107
––––––––––––––––––– ––––––––––––––––––– ––––––––––––––––––– –––––––––––––––––––
5,527 8,845 6,231 3,676
––––––––––––––––––– ––––––––––––––––––– ––––––––––––––––––– –––––––––––––––––––

9 TAX EXPENSE (cont’d)
129
Group Company
2005 2004 2005 2004
RM’000 RM’000 RM’000 RM’000
Deferred tax
Origination and reversal of temporary differences (1,002) 119 685 509
(Over)/underaccrual in prior financial years (net) (1,394) 349 (55) 4
––––––––––––––––––– ––––––––––––––––––– ––––––––––––––––––– –––––––––––––––––––
(2,396) 468 630 513
––––––––––––––––––– ––––––––––––––––––– ––––––––––––––––––– –––––––––––––––––––
3,131 9,313 6,861 4,189
================= ================= ================= =================
The numerical reconciliation between the average effective tax rate of the Group and Company and the Malaysian tax rate is as
follows:
Group Company
2005 2004 2005 2004
% % % %
Malaysian tax rate
Tax effects of:
28 28 28 28
- expenses not deductible for tax purposes 3 2 1 –
- income not subject to tax – (1) – –
- current financial year’s tax loss not recognised 10 5 – –
- lower tax rate resulting from restatement
of land costs for tax purposes (16) (8) – –
- utilisation of previously unrecognised tax losses – (3) – –
- (over)/underaccrual of deferred tax in prior financial years (4) 1 – –
- (over)/underaccrual of current tax in prior financial years (14) (1) – 1
- others 1 4 – –
––––––––––––––––––– ––––––––––––––––––– ––––––––––––––––––– –––––––––––––––––––
Average effective tax rate 8 27 29 29
================= ================= ================= =================
Included in tax expense of the Group and Company are tax savings from utilisation of current financial year’s tax losses
amounting to RM2,658,000 (2004: RM2,310,763) and RM2,658,000 (2004: RM2,310,763) respectively.
These tax savings arose from the utilisation of tax losses, from one business source or investment income against taxable profit
from a different business source within the same company in the same financial year.
10 EARNINGS AND NET TANGIBLE ASSETS PER SHARE
(a) Earnings per share
Basic earnings per share
Basic earnings per share of the Group is calculated by dividing the net profit for the financial year by the weighted average
number of ordinary shares in issue during the financial year, excluding ordinary shares acquired by the Company and held
as treasury shares.
2005 2004
Net profit for the financial year (RM’000) 29,211 20,565
Weighted average number of ordinary shares in issue (’000) 232,006 232,046
Basic earnings per share (sen) 12.6 8.9
================= =================
UNITED MALAYAN LAND BHD

130
10 EARNINGS AND NET TANGIBLE ASSETS PER SHARE (cont’d)
(a) Earnings per share (cont’d)
Diluted earnings per share
As at 31 December 2005, the Company has 8,838,100 (2004: 9,647,500) unissued ordinary shares outstanding under the
Employees’ Share Option Scheme (“ESOS”) for eligible employees and Executive Directors of the Group. In accordance with
the provisions laid down by FRS 1332004 “Earnings Per Share” (formerly known as MASB 13), options over ordinary shares
are dilutive when they would result in the issue of ordinary shares for less than fair value (determined based on the market
price of the ordinary shares). Since the exercise prices of options over ordinary shares are above the fair value of the
Company’s ordinary shares for the financial years 2005 and 2004, the options over ordinary shares are non-dilutive.
Accordingly, diluted earnings per share information is not presented in the financial statements.
(b) Net tangible assets per share
The net tangible assets per share is calculated by dividing the net tangible assets of the Group of RM746,401,879 (2004:
RM733,970,164) by the issued share capital of 231,957,933 shares, (which is net of 388,700 treasury shares) (2004: 232,034,733
shares, [which is net of 311,900 treasury shares]), at the end of the financial year.
11 DIVIDEND PER SHARE
Dividends declared and proposed in respect of ordinary shares of the Group and Company for the financial year are as follows:
2005 2004
Gross Amount of Gross Amount of
dividend dividend,net dividend dividend,net
per share of 28% tax per share of 28% tax
Sen RM’000 Sen RM’000
Interim dividend declared 2.5 4,176 - -
Proposed final dividend 5.0
–––––––––––––––––––
8,350
–––––––––––––––––––
7.5
–––––––––––––––––––
12,528
–––––––––––––––––––
7.5 12,526 7.5 12,528
================= ================= ================= =================
At the forthcoming Annual General Meeting (“AGM”) on 20 June 2006, a final dividend of 5.0 sen (2004: 7.5 sen) gross per ordinary
share on 231,957,933 ordinary shares (which is net of 388,700 treasury shares), less income tax of 28%, in respect of the financial
year ended 31 December 2005 will be proposed for shareholders’ approval. This final net dividend amounts to RM8,350,486.
These financial statements do not reflect this final dividend as a liability. The final dividend will be accrued as a liability only
after it has been approved by the shareholders at the forthcoming AGM.
12 PROPERTY, PLANT AND EQUIPMENT
Group
2005
NOTES TO THE FINANCIAL STATEMENTS (cont’d)
for the financial year ended 31 December 2005
As at Disposals/ As at
1.1.2005 Additions write-off 31.12.2005
RM’000 RM’000 RM’000 RM’000
Cost/Valuation
Freehold land 332,308 – – 332,308
Buildings 17,042 3 – 17,045
Furniture, fittings and equipment 6,727 1,048 (239) 7,536
Motor vehicles 1,621 993 (392) 2,222
Plant and machinery 20 – – 20
Stable and equestrian equipment 100
–––––––––––––––––––
–
–––––––––––––––––––
(3)
–––––––––––––––––––
97
–––––––––––––––––––
357,818 2,044 (634) 359,228
––––––––––––––––––– ––––––––––––––––––– ––––––––––––––––––– –––––––––––––––––––

12 PROPERTY, PLANT AND EQUIPMENT (cont’d)
131
Charge for
As at the financial Disposals/ As at
1.1.2005 year write-off 31.12.2005
RM’000 RM’000 RM’000 RM’000
Accumulated depreciation
Freehold land – – – –
Buildings 5,926 842 – 6,768
Furniture, fittings and equipment 6,208 561 (239) 6,530
Motor vehicles 1,401 202 (178) 1,425
Plant and machinery 20 – – 20
Stable and equestrian equipment 100 – (3) 97
––––––––––––––––––– ––––––––––––––––––– ––––––––––––––––––– –––––––––––––––––––
13,655 1,605 (420) 14,840
––––––––––––––––––– ––––––––––––––––––– ––––––––––––––––––– –––––––––––––––––––
Group
2004
As at Disposals/ As at
1.1.2004 Additions write-off Transfers* 31.12.2004
RM’000 RM’000 RM’000 RM’000 RM’000
Cost/Valuation
Freehold land 377,534 – – (45,226) 332,308
Buildings 17,041 35 (34) – 17,042
Furniture, fittings and equipment 6,539 191 (3) – 6,727
Motor vehicles 4,642 – (3,021) – 1,621
Plant and machinery 20 – – – 20
Stable and equestrian equipment 100
–––––––––––––––––––
–
–––––––––––––––––––
–
–––––––––––––––––––
–
–––––––––––––––––––
100
–––––––––––––––––––
405,876 226 (3,058) (45,226) 357,818
––––––––––––––––––– ––––––––––––––––––– ––––––––––––––––––– ––––––––––––––––––– –––––––––––––––––––
*Transfers to “Land held for property development” and “Property development costs”.
Charge for
As at the financial Disposals/ As at
1.1.2004 year write-off 31.12.2004
RM’000 RM’000 RM’000 RM’000
Accumulated depreciation
Freehold land – – – –
Buildings 5,094 837 (5) 5,926
Furniture, fittings and equipment 5,615 596 (3) 6,208
Motor vehicles 3,825 106 (2,530) 1,401
Plant and machinery 20 – – 20
Stable and equestrian equipment 100
–––––––––––––––––––
–
–––––––––––––––––––
–
–––––––––––––––––––
100
–––––––––––––––––––
14,654 1,539 (2,538) 13,655
––––––––––––––––––– ––––––––––––––––––– ––––––––––––––––––– –––––––––––––––––––
UNITED MALAYAN LAND BHD

132
12 PROPERTY, PLANT AND EQUIPMENT (cont’d)
Group
As at As at
31.12.2005 31.12.2004
RM’000 RM’000
Net book value
Freehold land 332,308 332,308
Buildings 10,277 11,116
Furniture, fittings and equipment 1,006 519
Motor vehicles 797 220
Plant and machinery – –
Stable and equestrian equipment –
–––––––––––––––––––
–
–––––––––––––––––––
344,388 344,163
================= =================
Company
2005
As at As at
1.1.2005 Additions Disposals 31.12.2005
RM’000 RM’000 RM’000 RM’000
Cost
Furniture, fittings and equipment 1,654 238 – 1,892
Motor vehicles 1,035
–––––––––––––––––––
993
–––––––––––––––––––
(343)
–––––––––––––––––––
1,685
–––––––––––––––––––
2,689 1,231 (343) 3,577
––––––––––––––––––– ––––––––––––––––––– ––––––––––––––––––– –––––––––––––––––––
Accumulated depreciation
Charge for
As at the financial As at
1.1.2005 year Disposals 31.12.2005
RM’000 RM’000 RM’000 RM’000
Furniture, fittings and equipment 1,553 130 – 1,683
Motor vehicles 824
–––––––––––––––––––
200
–––––––––––––––––––
(137)
–––––––––––––––––––
887
–––––––––––––––––––
2,377 330 (137) 2,570
––––––––––––––––––– ––––––––––––––––––– ––––––––––––––––––– –––––––––––––––––––
Company
2004
NOTES TO THE FINANCIAL STATEMENTS (cont’d)
for the financial year ended 31 December 2005
As at As at
1.1.2004 Additions Disposals 31.12.2004
RM’000 RM’000 RM’000 RM’000
Cost
Furniture, fittings and equipment 1,623 31 – 1,654
Motor vehicles 2,321
–––––––––––––––––––
–
–––––––––––––––––––
(1,286)
–––––––––––––––––––
1,035
–––––––––––––––––––
3,944 31 (1,286) 2,689
––––––––––––––––––– ––––––––––––––––––– ––––––––––––––––––– –––––––––––––––––––

12 PROPERTY, PLANT AND EQUIPMENT (cont’d)
133
Charge for
As at the financial As at
1.1.2004 year Disposals 31.12.2004
RM’000 RM’000 RM’000 RM’000
Accumulated depreciation
Furniture, fittings and equipment 1,465 88 – 1,553
Motor vehicles 1,945 70 (1,191) 824
––––––––––––––––––– ––––––––––––––––––– ––––––––––––––––––– –––––––––––––––––––
3,410 158 (1,191) 2,377
––––––––––––––––––– ––––––––––––––––––– ––––––––––––––––––– –––––––––––––––––––
As at As at
31.12.2005 31.12.2004
RM’000 RM’000
Company
Net book value
Furniture, fittings and equipment 209 101
Motor vehicles 798 211
––––––––––––––––––– –––––––––––––––––––
1,007 312
================= =================
The freehold land of the Group was revalued by the Directors in 1990 based on a valuation carried out by an independent firm of
professional valuers using the comparison method basis. The book value of freehold land was adjusted to reflect the revaluation
and the revaluation surplus arising thereof was credited to revaluation reserves.
A certain portion of the freehold land of the Group was revalued again by the Directors in 1996 based on a valuation carried out
by an independent firm of professional valuers using the open market valuation basis and as approved by Securities Commission.
The book value of freehold land was adjusted to reflect the revaluation and the revaluation surplus arising thereof was credited
to revaluation reserves.
Group
2005 2004
RM’000 RM’000
The freehold land consists of the following:
At cost or valuation
Land, at 1990 valuation 20,545 20,545
Land, at 1996 valuation 304,858 304,858
Development expenditure, at cost 6,905 6,905
––––––––––––––––––– –––––––––––––––––––
332,308 332,308
================= =================
If the freehold land had been determined in accordance with the historical cost convention, the cost of the freehold land for the
Group is RM19,051,183 (2004: RM19,051,183).
UNITED MALAYAN LAND BHD

134
NOTES TO THE FINANCIAL STATEMENTS (cont’d)
13 INVESTMENTS IN SUBSIDIARY COMPANIES
Company
2005 2004
RM’000 RM’000
Unquoted shares
- At cost 17,650 12,500
- At Directors’ valuation 584,541
–––––––––––––––––––
584,541
–––––––––––––––––––
602,191 597,041
================= =================
The Company’s investments in subsidiary companies are stated at valuation based on the net tangible assets value of the
subsidiary companies as at 31 December 2001.
Details of the subsidiary companies, all of which were incorporated in Malaysia, are as follows:
Group’s effective interest
Name of company Principal activities 2005 2004
% %
@ Seri Alam Properties Sdn Bhd Property development 100 100
* UM Leisure Sdn Bhd General trading 100 100
UM Land Assets Sdn Bhd Property investment 100 100
UM Land Bena Sdn Bhd Property development
and related activities
100 100
Country Equity Sdn Bhd Investment holding 100 100
* UM Development Sdn Bhd General trading 100 100
UM Residences Sdn Bhd Development of serviced
apartments
100 100
Suasana Sentral Two Sdn Bhd Property development
and related activities
70 70
Dynasty View Sdn Bhd Property development
and related activities
100 100
* Alpine Return Sdn Bhd Property development
and related activities
100 100
Subsidiary companies of Seri Alam Properties Sdn Bhd
* PMS Services Sdn Bhd Project management 100 100
* Seri Alam Hotel Resort Sdn Bhd General trading 100 100
Seri Alam Leisure Sdn Bhd Investment holding 100 100
Subsidiary company of Seri Alam Leisure Sdn Bhd
Seri Alam Golf & Equestrian Club Operation of a recreational 100 100
Sdn Bhd club and related activities
Subsidiary company of Country Equity Sdn Bhd
Bangi Heights Development Sdn Bhd Property development and
property investment
70 70
================= =================
@ Subsidiary company consolidated using the merger method of accounting.
* These subsidiary companies have not commenced operations.
for the financial year ended 31 December 2005

14 INVESTMENT IN AN ASSOCIATED COMPANY
135
Group
2005 2004
RM’000 RM’000
Unquoted shares, at cost 6,240 6,240
Share of post-acquisition losses (3,485) (3,493)
Goodwill on acquisition written off against capital reserve (7)
–––––––––––––––––––
(7)
–––––––––––––––––––
2,748 2,740
================= =================
Represented by:
Share of net tangible assets 2,748 2,740
================= =================
Details of the associated company, which was incorporated in Malaysia, are as follows:
Group’s effective interest
Name of company Principal activities 2005 2004
% %
Ipjora Holdings Sdn Bhd Developing, building, 40 40
owning and operating ================= =================
15 OTHER INVESTMENTS
serviced apartments
Group Company
2005 2004 2005 2004
RM’000 RM’000 RM’000 RM’000
Unquoted shares, at cost 9 9 – –
Unquoted subordinated bonds, at cost 2,000
–––––––––––––––––––
–
–––––––––––––––––––
2,000
–––––––––––––––––––
–
–––––––––––––––––––
2,009 9 2,000 –
================= ================= ================= =================
The fair value of the unquoted shares was estimated based on the investees’ net tangible assets value. The Directors are of the
view that the fair value of this investment is not significantly different from the cost shown in the financial statements at the
balance sheet date.
The fair value of the unquoted subordinated bonds as at financial year end approximates the carrying amount.
16 LAND HELD FOR PROPERTY DEVELOPMENT
Group
2005 2004
RM’000 RM’000
At beginning of the financial year 206,985 111,860
Transfer from property, plant and equipment – 12,411
Net transfer to property development costs (28,531) (46,608)
Acquisition of land –
–––––––––––––––––––
129,322
–––––––––––––––––––
At end of the financial year 178,454 206,985
================= =================
Land held for property development with book value of RM152,015,900 (2004: RM189,360,942) has been pledged as security for
borrowings (Note 25).
UNITED MALAYAN LAND BHD

136
17 LONG TERM TRADE RECEIVABLES
Group
2005 2004
RM’000 RM’000
Current 6,101 15,767
Later than 1 year but not later than 2 years 4,004 3,603
Later than 2 years but not later than 5 years – 171
Non-current 4,004 3,774
––––––––––––––––––– –––––––––––––––––––
10,105 19,541
================= =================
Long term trade receivables are the discounted future receipts arising from the sale of completed properties under instalment
schemes and sale of land under deferred payment scheme. Proceeds from sale of completed properties under instalment schemes
are receivable over four to seven years. Proceeds from sale of land under deferred payment scheme are receivable over two years.
The instalments receivable within twelve months amounting to RM6,101,309 (2004: RM15,766,946) are included in “Trade and
other receivables” in current assets.
There were no balances due from Directors and related parties included in the long term trade receivables of the Group at the
financial year end.
18 DEFERRED TAX
NOTES TO THE FINANCIAL STATEMENTS (cont’d)
for the financial year ended 31 December 2005
Deferred tax assets and liabilities are offset when there is a legally enforceable right to set off current tax assets against current
tax liabilities and when the deferred taxes relate to the same tax authority. The following amounts, determined after appropriate
offsetting, are shown in the balance sheet:
Group Company
2005 2004 2005 2004
RM’000 RM’000 RM’000 RM’000
Deferred tax assets:
- subject to income tax 846 370 – –
- subject to real property gains tax (“RPGT”) 17,015 14,288 – –
Deferred tax liabilities:
17,861 14,658 – –
- subject to income tax (16,604) (20,322) (652) (22)
- subject to real property gains tax (“RPGT”) (16,184) (16,184) – –
(32,788)
–––––––––––––––––––
(36,506)
–––––––––––––––––––
(652)
–––––––––––––––––––
(22)
–––––––––––––––––––
(14,927) (21,848) (652) (22)
================= ================= ================= =================
At beginning of the financial year:
Credited/(charged) to income statement (Note 9):
(21,848) (23,599) (22) 491
- property, plant and equipment 51 40 73 (13)
- land held for property development 1,155 2,625 – –
- property development costs (2,140) (2,618) – –
- interest capitalised 102 93 – –
- receivables (130) (412) (1,633) –
- payables 312 (64) 44 (38)
- interest receivable 946 (515) 886 (462)
- tax losses 2,100 383 – –
––––––––––––––––––– ––––––––––––––––––– ––––––––––––––––––– –––––––––––––––––––
2,396 (468) (630) (513)
Reversal of deferred tax to revaluation reserves – 2,219 – –
Underaccrual of RPGT in prior financial years 4,525
–––––––––––––––––––
–
–––––––––––––––––––
–
–––––––––––––––––––
–
–––––––––––––––––––
At end of the financial year (14,927) (21,848) (652) (22)
================= ================= ================= =================

18 DEFERRED TAX (cont’d)
137
Group Company
2005 2004 2005 2004
RM’000 RM’000 RM’000 RM’000
Subject to income tax:
Deferred tax assets (before offsetting):
- property, plant and equipment 794 722 672 599
- tax losses 2,674 574 – –
- receivables 402 532 83 83
- payables 815 503 226 182
––––––––––––––––––– ––––––––––––––––––– ––––––––––––––––––– –––––––––––––––––––
4,685 2,331 981 864
Offsetting (3,839) (1,961) (981) (864)
––––––––––––––––––– ––––––––––––––––––– ––––––––––––––––––– –––––––––––––––––––
Deferred tax assets (after offsetting) 846 370 – –
================= ================= ================= =================
Deferred tax liabilities (before offsetting):
- property, plant and equipment (25) (4) – –
- land held for property development (9,948) (11,103) – –
- property development costs (5,995) (5,653) – –
- interest capitalised (4,475) (4,577) – –
- receivables – – (1,633) –
- interest receivable – (946) – (886)
––––––––––––––––––– ––––––––––––––––––– ––––––––––––––––––– –––––––––––––––––––
(20,443) (22,283) (1,633) (886)
Offsetting 3,839 1,961 981 864
––––––––––––––––––– ––––––––––––––––––– ––––––––––––––––––– –––––––––––––––––––
Deferred tax liabilities (after offsetting) (16,604) (20,322) (652) (22)
================= ================= ================= =================
Subject to RPGT:
Deferred tax assets:
- property development costs 17,015 14,288 – –
================= ================= ================= =================
Deferred tax liabilities:
- property, plant and equipment (16,184) (16,184) – –
================= ================= ================= =================
The amount of unused tax losses (with no expiry date) for which no deferred tax asset is recognised in the balance sheet is as
follows:
Group Company
2005 2004 2005 2004
RM’000 RM’000 RM’000 RM’000
Tax losses 40,137 27,684 – –
================= ================= ================= =================
19 COMPLETED PROPERTIES
Completed properties with book value of RM35,289,050 (2004: RM16,807,043) have been pledged as security for borrowings
(Note 25).
UNITED MALAYAN LAND BHD

138
NOTES TO THE FINANCIAL STATEMENTS (cont’d)
20 PROPERTY DEVELOPMENT COSTS
for the financial year ended 31 December 2005
Group
2005 2004
RM’000 RM’000
At beginning of the financial year
Freehold land - at cost 85,777 30,084
- at valuation 78,393 17,026
Development costs incurred 295,143 271,926
Accumulated costs charged to income statement (68,029)
–––––––––––––––––––
(55,487)
–––––––––––––––––––
391,284 263,549
================= =================
Costs incurred during the financial year
Land acquired – 41,085
Development costs incurred 166,536 89,915
Transfer from property, plant and equipment – 32,815
Net transfer from land held for property development 28,531 46,608
Transfer to completed properties (13,495) (13,117)
Accumulated costs charged to income statement (141,008) (69,571)
––––––––––––––––––– –––––––––––––––––––
40,564 127,735
================= =================
At end of the financial year
Freehold land - at cost 95,801 85,777
- at valuation 72,966 78,393
Development costs incurred 348,101 295,143
Accumulated costs charged to income statement (85,020) (68,029)
––––––––––––––––––– –––––––––––––––––––
431,848 391,284
================= =================
The freehold land at valuation was transferred from “Property, plant and equipment” to “Property development costs” at its
carrying amounts. The Directors have applied the transitional provision issued by Malaysian Accounting Standards Board on
adoption of FRS 1162004 “Property, Plant and Equipment” (formerly known as MASB 15), which allows these assets to be stated at
their 1990 and 1996 valuations. Accordingly, the carrying amounts have not been updated.
Included in the development costs incurred during the financial year is interest capitalised amounting to RM10,553,962
(2004: RM3,548,130).
Property development costs with book value of RM116,083,329 (2004: RM85,549,303) have been pledged as security for borrowings
(Note 25).

21 TRADE AND OTHER RECEIVABLES
139
Group Company
2005 2004 2005 2004
RM’000 RM’000 RM’000 RM’000
Trade receivables 70,265 68,340 297 297
Less: Allowance for doubtful debts (10,234)
–––––––––––––––––––
(11,718)
–––––––––––––––––––
(297)
–––––––––––––––––––
(297)
–––––––––––––––––––
60,031 56,622 – –
––––––––––––––––––– ––––––––––––––––––– ––––––––––––––––––– –––––––––––––––––––
Other receivables 5,648 5,716 6,550 56
Less: Allowance for doubtful debts (1,382) (1,282) – –
––––––––––––––––––– ––––––––––––––––––– ––––––––––––––––––– –––––––––––––––––––
4,266 4,434 6,550 56
––––––––––––––––––– ––––––––––––––––––– ––––––––––––––––––– –––––––––––––––––––
Amounts due from subsidiary companies – – 161,720 155,100
Amounts due from related companies 16 4 – –
Deposits 3,444 3,528 176 591
Prepayments 480 138 423 44
Accrued billings in respect of property development 15,344 7,435 – –
––––––––––––––––––– ––––––––––––––––––– ––––––––––––––––––– –––––––––––––––––––
19,284 11,105 162,319 155,735
––––––––––––––––––– ––––––––––––––––––– ––––––––––––––––––– –––––––––––––––––––
83,581 72,161 168,869 155,791
================= ================= ================= =================
Included in the trade receivables of the Group are balances due (to)/from Directors as follows:
Group
2005 2004
RM’000 RM’000
Amount due (to)/from Directors (5) 101
================= =================
Credit terms of trade receivables range from 7 days to 365 days. Included in trade receivables is an amount owed by a purchaser
of a parcel of land under the deferred payment scheme, who was granted a credit term of 365 days in accordance with the terms
of the sale and purchase agreement.
22 DEPOSITS, BANK AND CASH BALANCES
Group Company
2005 2004 2005 2004
RM’000 RM’000 RM’000 RM’000
Bank and cash balances
Bank balances under Housing
13,982 3,894 6,574 881
Development Accounts (“HDA”) 32,187 14,195 – –
Bank balances under sinking fund 1,416
–––––––––––––––––––
–
–––––––––––––––––––
–
–––––––––––––––––––
–
–––––––––––––––––––
47,585 18,089 6,574 881
================= ================= ================= =================
The effective weighted average interest rates of bank balances as at the balance sheet dates were as follows:
Group Company
2005 2004 2005 2004
% % % %
Bank balances
Bank balances under Housing
0.85 0.30 1.98 1.34
Development Accounts (“HDA”) 2.02 1.97 – –
================= ================= ================= =================
Bank balances are deposits held at call with banks.
UNITED MALAYAN LAND BHD

140
22 DEPOSITS, BANK AND CASH BALANCES (cont’d)
The subsidiary companies’ bank balances under Housing Development Accounts are not freely remissible to the Company until
the issuance of the Certificate of Fitness for the respective housing development and with the approval of the Controller of
Housing after deducting certain sums of monies as specified in Housing Development (Control and Licensing) Act 1966, Housing
Developers (Housing Development Account)(Amendment) Regulations 2002, Regulation 9.
The sinking fund, which is established in accordance with the terms stipulated in the loan agreement, represents deposits with
a bank which will be utilised for the repayment of term loan and bridging loan of a subsidiary company.
23 TRADE AND OTHER PAYABLES
Group Company
2005 2004 2005 2004
RM’000 RM’000 RM’000 RM’000
Trade payables 40,214 19,162 – –
Trade accruals 26,079 19,271 – –
Amount due to a subsidiary company – – 1,492 –
Amounts due to related parties 2 236 2 236
Payroll liabilities 2,958 2,108 807 780
Real property gains tax payable 1,800 6,466 – –
Progress billings in respect of property development – 5,363 – –
Other payables and accruals 8,688
–––––––––––––––––––
8,462
–––––––––––––––––––
816
–––––––––––––––––––
462
–––––––––––––––––––
79,741 61,068 3,117 1,478
================= ================= ================= =================
Credit terms of trade payables granted to the Group vary from no credit terms to 60 days.
The amount due to a subsidiary company, UM Residences Sdn Bhd, is unsecured and has no fixed term of repayment.
The weighted average interest rate as at financial year end was 7.25% per annum.
The amounts due to related parties, CapitaLand Residential Ltd, Tradewinds Corporation Berhad, Tradewinds Travel & Tours Sdn
Bhd and Chee Tat Holdings (S) Pte Ltd are unsecured, interest-free and have no fixed term of repayment.
24 PROVISION
NOTES TO THE FINANCIAL STATEMENTS (cont’d)
for the financial year ended 31 December 2005
Group
2005 2004
RM’000 RM’000
Property development costs
At beginning of the financial year 20,777 21,459
Provision for property development costs 950 3,483
Utilised during the financial year
Reversal of unutilised provision to:
– (2,512)
- development costs recognised as expenses (10,411) (1,653)
- completed properties and property development costs (9,618) –
- trade accruals (748) –
(20,777) (1,653)
––––––––––––––––––– –––––––––––––––––––
At end of the financial year 950 20,777
================= =================
This represents the development costs estimated to be incurred. This provision will be utilised when the designated development
activities take place.
The reversal of unutilised provision during the financial year was due to changes in plans of the future designated development
activities.

25 BORROWINGS
Current
141
Group Company
2005 2004 2005 2004
RM’000 RM’000 RM’000 RM’000
Secured
Bank overdrafts 15,915 8,060 – –
Revolving credit 106,557 100,675 – –
Term loan 27,475
–––––––––––––––––––
30,400
–––––––––––––––––––
–
–––––––––––––––––––
–
–––––––––––––––––––
149,947 139,135 – –
––––––––––––––––––– ––––––––––––––––––– ––––––––––––––––––– –––––––––––––––––––
Non-current
Secured
Bridging loan 3,073 – – –
Term loan 89,600 89,600 – –
Unsecured
Term loan 20,000 – 20,000 –
––––––––––––––––––– ––––––––––––––––––– ––––––––––––––––––– –––––––––––––––––––
112,673 89,600 20,000 –
––––––––––––––––––– ––––––––––––––––––– ––––––––––––––––––– –––––––––––––––––––
Total
Bank overdrafts 15,915 8,060 – –
Revolving credit 106,557 100,675 – –
Bridging loan 3,073 – – –
Term loan 137,075 120,000 20,000 –
––––––––––––––––––– ––––––––––––––––––– ––––––––––––––––––– –––––––––––––––––––
262,620 228,735 20,000 –
================= ================= ================= =================
The borrowings are secured by the following:
Group
2005 2004
RM’000 RM’000
Land held for property development (Note 16) 152,016 189,361
Completed properties (Note 19) 35,289 16,807
Property development costs (Note 20) 116,083
–––––––––––––––––––
85,549
–––––––––––––––––––
303,388 291,717
================= =================
Weighted average interest Total carrying Maturity profile
Group rate at balance sheet date amount < 1 year 1 - 5 years > 5 years
% RM’000 RM’000 RM’000 RM’000
2005
Bank overdrafts 7.59 15,915 15,915 – –
Revolving credit 4.80 106,557 106,557 – –
Term loan 7.25 27,475 27,475 – –
Bridging loan 5.35 3,073 – 3,073 –
Term loan 5.60 89,600 – 89,600 –
Term loan 6.13 20,000
–––––––––––––––––––
–
–––––––––––––––––––
20,000
–––––––––––––––––––
–
–––––––––––––––––––
262,620 149,947 112,673 –
================= ================= ================= =================
UNITED MALAYAN LAND BHD

142
25 BORROWINGS (cont’d)
Weighted average interest Total carrying Maturity profile
Group rate at balance sheet date amount < 1 year 1 - 5 years > 5 years
% RM’000 RM’000 RM’000 RM’000
2004
Bank overdrafts 7.25 8,060 8,060 – –
Revolving credit 4.41 100,675 100,675 – –
Term loan 7.00 30,400 30,400 – –
Term loan 5.30 89,600 – 67,200 22,400
––––––––––––––––––– ––––––––––––––––––– ––––––––––––––––––– –––––––––––––––––––
228,735 139,135 67,200 22,400
================= ================= ================= =================
Company
2005
Term loan 6.13 20,000 – 20,000 –
================= ================= ================= =================
The net exposure of borrowings of the Group and Company to interest rate changes and the periods in which the borrowings
reprice are as follows:
Total Floating Fixed
Weighted average interest carrying interest rate interest rate
Group rate at balance sheet date amount < 1 year 1 - 5 years
% RM’000 RM’000 RM’000
2005
Bank overdrafts 7.59 15,915 15,915 –
Revolving credit 4.80 106,557 106,557 –
Term loan 7.25 27,475 27,475 –
Bridging loan 5.35 3,073 3,073 –
Term loan 5.60 89,600 89,600 –
Term loan 6.13 20,000 – 20,000
––––––––––––––––––– ––––––––––––––––––– –––––––––––––––––––
262,620 242,620 20,000
================= ================= =================
2004
Bank overdrafts 7.25 8,060 8,060 –
Revolving credit 4.41 100,675 100,675 –
Term loan 7.00 30,400 30,400 –
Term loan 5.30 89,600 89,600 –
––––––––––––––––––– ––––––––––––––––––– –––––––––––––––––––
228,735 228,735 –
================= ================= =================
Company
NOTES TO THE FINANCIAL STATEMENTS (cont’d)
for the financial year ended 31 December 2005
2005
Term loan 6.13 20,000 – 20,000
================= ================= =================
The unsecured term loan of RM20 million of the Group and Company represents a primary collateralised loan obligation.
The term loan is subject to fixed interest rate of 6.13% per annum and is repayable in one lump sum in September 2010. The fair
value of this long term loan at the balance sheet date is RM19,358,000. The fair value is estimated based on future contractual
cash flows discounted at the interest rate of 6.90%.
The carrying amount of all other borrowings of the Group at the balance sheet dates approximates their fair values.

26 SHARE CAPITAL
143
Group and Company
2005 2004
RM’000 RM’000
Authorised:
Ordinary shares of RM1.00 each, at beginning and end of the financial year 500,000 500,000
================= =================
Issued and fully paid:
Ordinary shares of RM1.00 each
At beginning of the financial year 232,347 232,346
Issued during the financial year – 1
––––––––––––––––––– –––––––––––––––––––
At end of the financial year 232,347 232,347
================= =================
EMPLOYEES’ SHARE OPTION SCHEME (“ESOS”)
The Company had, on 5 September 2003, implemented an Employees’ Share Option Scheme (“ESOS”) for its eligible employees
and Executive Directors of the Group. This ESOS had been in force for a period of five years from the date of its implementation
until its expiry on 4 September 2008.
The ESOS was approved by the shareholders at an Extraordinary General Meeting held on 25 June 2003.
The main features of the ESOS are as follows:
(a) The maximum number of new ordinary shares of the Company which may be available under the scheme shall not in
aggregate exceed 10% of the issued and paid-up share capital of the Company at any one time;
(b) Subject to the eligibility criteria as may be set by the Option Committee, an eligible employee shall be eligible to participate
in the scheme;
(c) No option shall be granted to any Executive Director of the Company unless specific grant of options over ordinary shares
to that Executive Director shall have been previously approved by the shareholders of the Company in a general meeting;
(d) The maximum number of new ordinary shares of the Company that may be offered and allotted to an eligible employee
shall be determined at the discretion of the Option Committee taking into consideration the performances, seniority and
years of service of the eligible employee. The allocation to the eligible Executive Directors and senior management shall not
in aggregate exceed 50% of the new ordinary shares of the Company available under the scheme. Not more than 10% of the
new ordinary shares of the Company available under the scheme should be allocated to any eligible employee who, either
singly or collectively, through his associates (as defined in the Companies Act, 1965), holds 20% or more of the issued and
paid-up capital of the Company;
(e) The price at which an eligible employee is entitled to subscribe for each new ordinary share of the Company shall be
determined by the Option Committee based on the 5-day weighted average market price of the ordinary shares of the
Company immediately preceding the Offer Date of the options over ordinary shares, with a discount of not more than 10%,
or at the par value of the ordinary shares of the Company, whichever is higher;
(f) The options over ordinary shares granted must be exercised within a period of five years from the Date of Offer of the
options over ordinary shares to the respective employees or before the expiry of the ESOS, which shall continue to be in
force for a period of five years from 5 September 2003 (the date the options over ordinary shares were first granted to the
eligible employees) subject to the ESOS not being extended for an additional five years;
(g) The new ordinary shares of the Company to be allotted upon exercise of any options over ordinary shares granted shall
upon allotment and issue, rank pari passu in all respects with the existing Company’s ordinary shares. The new ordinary
shares of the Company so allotted will not be entitled to any dividends, rights, allotments and/or other distributions unless
such new ordinary shares of the Company meet the conditions as specified in the By-Laws of the ESOS.
UNITED MALAYAN LAND BHD

144
26 SHARE CAPITAL (cont’d)
EMPLOYEES’ SHARE OPTION SCHEME (“ESOS”) (cont’d)
The movements during the financial year in the number of options over ordinary shares of the Company were as follows:
2005 2004
Option price Option price
at RM1.31 at RM1.31
per share per share
’000 ’000
At beginning of the financial year 9,648 12,364
Exercised – (1)
Lapsed (810)
–––––––––––––––––––
(2,715)
–––––––––––––––––––
At end of the financial year 8,838 9,648
================= =================
2005 2004
’000 ’000
Number of options over ordinary shares vested as at end of the financial year 8,838 9,648
================= =================
TREASURY SHARES
NOTES TO THE FINANCIAL STATEMENTS (cont’d)
for the financial year ended 31 December 2005
During the financial year, the Company repurchased its own shares amounting to 76,800 (2004: 21,900) ordinary shares at the
average price of approximately RM0.95 (2004: RM1.10) per share from the open market on Bursa Malaysia Securities. These
repurchases were financed by internally generated funds. These shares repurchased are being held as treasury shares as allowed
under Section 67A of Companies Act, 1965. None of these treasury shares has been sold.
As at 31 December 2005, the number of outstanding shares in issue and which are all fully paid is 231,957,933 (net of 388,700
treasury shares) (2004: 232,034,733 [net of 311,900 treasury shares]) ordinary shares of RM1.00 each.

145
27 RESERVES
Group Company
2005 2004 2005 2004
RM’000 RM’000 RM’000 RM’000
Non-distributable
Share premium 60,428 60,428 60,428 60,428
Revaluation reserves 240,745 244,969 385,808 385,808
––––––––––––––––––– ––––––––––––––––––– ––––––––––––––––––– –––––––––––––––––––
301,173 305,397 446,236 446,236
––––––––––––––––––– ––––––––––––––––––– ––––––––––––––––––– –––––––––––––––––––
Capital reserves:
- Capital reserves arising on consolidation 325 325 – –
- Merger deficit (41,625) (41,625) – –
––––––––––––––––––– ––––––––––––––––––– ––––––––––––––––––– –––––––––––––––––––
(41,300) (41,300) – –
––––––––––––––––––– ––––––––––––––––––– ––––––––––––––––––– –––––––––––––––––––
Treasury shares (Note 26) (449) (374) (449) (374)
––––––––––––––––––– ––––––––––––––––––– ––––––––––––––––––– –––––––––––––––––––
259,424 263,723 445,787 445,862
––––––––––––––––––– ––––––––––––––––––– ––––––––––––––––––– –––––––––––––––––––
Distributable
Retained earnings 195,841 183,334 56,310 56,029
Revaluation reserves* 58,790 54,566 15,256 15,256
––––––––––––––––––– ––––––––––––––––––– ––––––––––––––––––– –––––––––––––––––––
254,631 237,900 71,566 71,285
––––––––––––––––––– ––––––––––––––––––– ––––––––––––––––––– –––––––––––––––––––
514,055 501,623 517,353 517,147
================= ================= ================= =================
The Company has sufficient Section 108 tax credits and tax-exempt income under Malaysian Income Tax Act, 1967 to frank all of
its retained earnings as at 31 December 2005, if paid out as dividends, without incurring additional tax liabilities.
*This represents the accumulated revaluation reserves which have already been realised.
28 SIGNIFICANT RELATED PARTY TRANSACTIONS
In addition to the related party disclosures mentioned elsewhere in the financial statements, set out below are other significant
related party transactions.
The transactions set out below have been entered into in the normal course of business and have been established under terms
mutually agreed upon by the parties and which are not materially different from those obtainable in transactions with nonrelated
parties.
Group
Transactions Company 2005 2004
RM’000 RM’000
Transactions with a corporate shareholder
Rental of premises paid and payable Tradewinds Corporation Berhad 497 609
Procurement of hotel accommodation
and meals paid and payable
Tradewinds Corporation Berhad 60 32
Transactions with a subsidiary
company of a corporate shareholder,
Chee Tat Holdings (S) Pte Ltd
Rental income received Chee Tat Holdings (M) Sdn Bhd 12 12
UNITED MALAYAN LAND BHD

146
NOTES TO THE FINANCIAL STATEMENTS (cont’d)
28 SIGNIFICANT RELATED PARTY TRANSACTIONS (cont’d)
Group
Transactions Company/Individual 2005 2004
RM’000 RM’000
Transactions with subsidiary companies
of a corporate shareholder,
Tradewinds Corporation Berhad
Procurement of airticket paid and payable Tradewinds Travel & Tours Sdn Bhd 47 29
Procurement of insurance brokerage Tradewinds International Insurance 85 61
services paid and payable Brokers Sdn Bhd
Transactions with subsidiary companies
of a corporate shareholder,
CapitaLand Limited
Procurement of management services
paid and payable
CapitaLand Residential Ltd 338 236
Progress billings for sale of serviced
apartments received and receivable
Liang Court (Malaysia) Sdn Bhd 572 9,724
Transactions with an associated company
of a corporate shareholder,
CapitaLand Limited
Rental of premises paid and payable OneSentral Park Sdn Bhd 124 54
Transactions with Directors of the Company
Progress billings for sale of serviced Datuk Nur Jazlan 180 118
apartments and condominiums received
and receivable
bin Tan Sri Mohamed
Progress billings for sale of condominium Datuk Mohd Khamil 132 –
received and receivable bin Jamil
Progress billings for sale of condominium
received and receivable
Dr Choo Kian Koon 80 –
Transactions with person related to a Director
of the Company, Dato’ Ng Eng Tee
for the financial year ended 31 December 2005
Progress billings for sale of condominium
received and receivable
Dennis Ng Yew Kim 135 –
The amounts that remained outstanding as at 31 December 2005 in respect of the above transactions with corporate shareholders
and related parties are shown in Notes 21 and 23 to the financial statements.

29 MATERAL LITIGATIONS
147
(a) On 7 October 1996, UM Leisure Sdn Bhd (“UM Leisure”), a wholly-owned subsidiary of the Company, entered into a Joint
Venture Agreement (“JVA”) with Ultrapolis 3000 Holding Bermuda Ltd (“UPH”), with respect to the organisation,
management and operation of Agarta Universe Sdn Bhd (“Agarta Universe”) which was to undertake the development and
management of Agarta Universe Theme Park Resort together with theme-based hotels and shopping centre in Bandar Seri
Alam, Johor, a township currently being developed by Seri Alam Properties Sdn Bhd (“Seri Alam”), a wholly-owned
subsidiary of the Company.
Pursuant to Clause 10.1(c) of the JVA, the Company issued a letter of guarantee of payment dated 3 January 1997 (“Letter of
Guarantee”) to Trans Resources Corporation Sdn Bhd (“TRC”) which was to undertake earthworks on a piece of land, upon
which Agarta Universe Theme Park Resort will be built, under a contract with Sanwell Corporation (“Sanwell”), whose
principal is Agarta Universe. Thereafter, Seri Alam signed an Agreement for Lease dated 9 December 1997 with Agarta
Universe.
TRC commenced a writ action in the Kuala Lumpur High Court against Sanwell for RM17,459,445 being the amount due
in respect of earthworks allegedly carried out. TRC has also claimed against the Company, for RM15,500,000 being the sum
allegedly payable by the Company under the abovesaid Letter of Guarantee.
In the Kuala Lumpur High Court action, the Company filed a counterclaim (“Counterclaim”) against TRC, Sanwell,
UPH and Agarta Universe, seeking inter alia, a declaration that it stands discharged from any liability to TRC under the
said Letter of Guarantee and an order that Agarta Universe is to indemnify the Company for all consequences of the Letter
of Guarantee.
Sanwell applied to stay the action on the basis that TRC’s claim against it ought to be resolved through arbitration.
The Company and TRC opposed Sanwell’s stay application. On 19 May 1999, a stay (“Stay Order”) was granted by the Kuala
Lumpur High Court. However, the Company and TRC appealed to the Court of Appeal against the grant of the Stay Order.
On 29 June 2000, the Court of Appeal allowed TRC’s appeal against Sanwell on a preliminary point of law and set aside the
Stay Order. Upon further appeal by Sanwell, the Federal Court reinstated the Stay Order on 20 May 2002.
In light of the Federal Court’s order, the proceedings in the Kuala Lumpur High Court were adjourned sine die for the
position between TRC and Sanwell to be referred to arbitration.
Subsequently, TRC applied to the Kuala Lumpur High Court to vacate the Stay Order (“Removal Application”). The Removal
Application was allowed by the High Court on 2 April 2005 with costs to be borne by Sanwell.
With the Stay Order vacated, parties to the Kuala Lumpur High Court suit was to proceed to trial on TRC’s claim and the
Company’s Counterclaim. Kuala Lumpur High Court fixed the trial on 25 May 2005 and 26 May 2005.
On 25 May 2005, the Company and TRC have agreed, through an exchange of letters between their respective solicitors, to
a settlement whereby the Company will pay TRC a sum of RM15,500,000 as full and final settlement of the claims made
against the Company (Settlement). The settlement sum was satisfied during the financial year through a combination of
cash and properties in Bandar Seri Alam upon terms and conditions as agreed. A formal Settlement Agreement was entered
into on 28 December 2005. With this agreement, the claim made against the Company by TRC has been fully resolved.
Additionally, amongst others, the following declarations were also granted by Kuala Lumpur High Court on 27 May 2005:
(i) that the JVA between UM Leisure and UPH is cancelled;
(ii) that the Agreement for Lease between Seri Alam and Agarta Universe is terminated; and
(iii) that Agarta Universe is to indemnify the Company of all consequence of the said Letter of Guarantee including the
sum of RM15,500,000.
UNITED MALAYAN LAND BHD

148
29 MATERAL LITIGATIONS (cont’d)
(b) The Inland Revenue Board has raised notices of assessment and additional assessments in respect of prior years’ income tax
of a subsidiary company, Bangi Heights Development Sdn Bhd. The assessments are mainly due to a different tax treatment
accorded by Inland Revenue Board on the deduction of capitalised interest expense.
The Group does not agree with the assessments and additional assessments and has filed appeals to the Special
Commissioner of Income Tax. A deciding order was issued by Special Commissioner of Income Tax on 22 November 2005
which disallowed the deduction of capitalised interest expense. The Group will continue to defend its position against
these assessments and additional assessments and will file an appeal to the High Court.
Pending the resolution of the above matters, the Group has provisionally paid to-date an amount of RM2.1 million as at
31 December 2005 and has accounted the amount paid as tax expense in the income statement.
30 SIGNIFICANT POST BALANCE SHEET EVENTS
The Company had on 18 January 2006 entered into a shareholders’ agreement with Bolton Berhad and Acegoal Pte Ltd to govern
a joint venture company for the development of a condominium project (namely, Alpine Return Sdn Bhd) (“Proposed Joint
Venture”). The Proposed Joint Venture is subject to the approval of Foreign Investment Committee (“FIC”).
Alpine Return Sdn Bhd, a 35% owned associated company of the Company, had on the same day entered into a conditional sale
and purchase agreement with Bolton Berhad to acquire eleven (11) contiguous parcels of freehold land measuring a total of
approximately 17,383.207 square metres located along Jalan Mayang, Off Jalan Yap Kwan Seng, Kuala Lumpur for a total cash
consideration of RM112.287 million (“Proposed Acquisition”).
The Proposed Acquisition is subject to the following conditions precedent:
(a) approval of FIC;
(b) approval of Bolton Berhad’s shareholders; and
(c) procurement of development order from Dewan Bandaraya Kuala Lumpur.
31 SEGMENTAL INFORMATION
NOTES TO THE FINANCIAL STATEMENTS (cont’d)
The Group is primarily engaged in the property development industry (Primary segment). All activities of the Group are
conducted within Malaysia (Secondary segment).
32 APPROVAL OF FINANCIAL STATEMENTS
for the financial year ended 31 December 2005
The financial statements have been approved for issue in accordance with a resolution of the Board of Directors on 20 April 2006.

We, Dato’ Ng Eng Tee and Datuk Nur Jazlan bin Tan Sri Mohamed, two of the Directors of United Malayan Land Bhd, state that, in the
opinion of the Directors, the financial statements set out on pages 112 to 148 are drawn up so as to give a true and fair view of the state
of affairs of the Group and Company as at 31 December 2005 and of the results and cash flows of the Group and Company for the
financial year ended on that date in accordance with MASB approved accounting standards in Malaysia and the provisions of the
Companies Act, 1965.
Signed on behalf of the Board of Directors in accordance with their resolution dated 20 April 2006.
DATO’ NG ENG TEE DATUK NUR JAZLAN BIN TAN SRI MOHAMED
DIRECTOR DIRECTOR
Kuala Lumpur
STATEMENT BY DIRECTORS
Pursuant to Section 169 (15) of the Companies Act, 1965
149
I, Pee Tong Lim, the Officer primarily responsible for the financial management of United Malayan Land Bhd, do solemnly
and sincerely declare that the financial statements set out on pages 112 to 148 are, to the best of my knowledge and belief, correct and
I make this solemn declaration conscientiously believing the same to be true, and by virtue of the provisions of the Statutory
Declarations Act, 1960.
PEE TONG LIM
Subscribed and solemnly declared by the abovenamed Pee Tong Lim at Kuala Lumpur, Malaysia on 20 April 2006.
Before me,
STATUTORY DECLARATION
COMMISSIONER FOR OATHS
Pursuant to Section 169 (16) of the Companies Act, 1965
UNITED MALAYAN LAND BHD

150
We have audited the financial statements set out on pages 112 to 148. These financial statements are the responsibility of the Company’s
Directors. It is our responsibility to form an independent opinion, based on our audit, on these financial statements and to report our
opinion to you, as a body, in accordance with Section 174 of the Companies Act, 1965 and for no other purpose. We do not assume
responsibility to any other person for the content of this report.
We conducted our audit in accordance with approved auditing standards in Malaysia. Those standards require that we plan and
perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit
includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also
includes assessing the accounting principles used and significant estimates made by the Directors, as well as evaluating the overall
financial statement presentation. We believe that our audit provides a reasonable basis for our opinion.
In our opinion:
(a) the financial statements have been prepared in accordance with the provisions of the Companies Act, 1965 and MASB approved
accounting standards in Malaysia so as to give a true and fair view of:
and
(i) the matters required by Section 169 of the Companies Act, 1965 to be dealt with in the financial statements; and
(ii) the state of affairs of the Group and Company as at 31 December 2005 and of the results and cash flows of the Group and
Company for the financial year ended on that date;
(b) the accounting and other records and the registers required by the Act to be kept by the Company and by the subsidiary
companies have been properly kept in accordance with the provisions of the Act.
We are satisfied that the financial statements of the subsidiary companies that have been consolidated with the Company’s financial
statements are in form and content appropriate and proper for the purposes of the preparation of the consolidated financial statements
and we have received satisfactory information and explanations required by us for those purposes.
Our audit reports on the financial statements of the subsidiary companies were not subject to any qualification and did not include
any comment made under subsection (3) of Section 174 of the Act.
PRICEWATERHOUSECOOPERS DATO’ AHMAD JOHAN BIN MOHAMMAD RASLAN
(No. AF: 1146) (No. 1867/09/06 (J))
Chartered Accountants Partner of the firm
Kuala Lumpur
20 April 2006
REPORT OF THE AUDITORS
To The Members of United Malayan Land Bhd (Company No. 4131 M) (Incorporated in Malaysia)

151
Penyata
Kewangan
152 Laporan Para Pengarah
156 Penyata Pendapatan
157 Lembaran Imbangan
158 Penyata Perubahan
Dalam Ekuiti Yang Disatukan
159 Penyata Perubahan Dalam Ekuiti Syarikat
160 Penyata Aliran Tunai
162 Nota-Nota Kepada Penyata Kewangan
193 Penyata Oleh Para Pengarah /
Akuan Berkanun
194 Laporan Juruaudit
UNITED MALAYAN LAND BHD

152
Para Pengarah dengan sukacitanya membentangkan kepada ahli-ahli, laporan tahunan dan penyata kewangan Kumpulan dan
Syarikat yang telah diaudit bagi tahun kewangan berakhir 31 Disember 2005.
AKTIVITI-AKTIVITI UTAMA
Aktiviti-Aktiviti utama Syarikat adalah pegangan pelaburan dan peruntukan perkhidmatan pengurusan.
Aktiviti-Aktiviti utama syarikat subsidiari Kumpulan adalah seperti yang dinyatakan dalam Nota 13 penyata kewangan.
Tiada perubahan penting dalam aktiviti-aktiviti tersebut sepanjang tahun kewangan.
KEPUTUSAN KEWANGAN
Keputusan kewangan Kumpulan dan Syarikat bagi tahun kewangan berakhir 31 Disember 2005 adalah seperti berikut:
Kumpulan Syarikat
RM’000 RM’000
Keuntungan daripada aktiviti biasa selepas cukai 33,728 16,985
Kepentingan minoriti (4,517) –
––––––––––––––––––– –––––––––––––––––––
Keuntungan bersih bagi tahun kewangan 29,211 16,985
================= =================
DIVIDEN
Dividen yang dibayar oleh Syarikat sejak 31 Disember 2004 adalah seperti berikut:
RM’000
Bagi tahun kewangan berakhir 31 Disember 2004:
- dividen akhir sebanyak 7.5 sen kasar sesaham biasa
tolak 28% cukai pendapatan, dibayar pada 27 September 2005 12,528
=================
Bagi tahun kewangan berakhir 31 Disember 2005:
- dividen interim sebanyak 2.5 sen kasar sesaham biasa
tolak 28% cukai pendapatan, dibayar pada 22 Februari 2006 4,176
=================
Para Pengarah mencadangkan pembayaran dividen akhir sebanyak 5.0 sen kasar sesaham biasa ke atas 231,957,933 saham biasa (iaitu
bersih daripada 388,700 saham perbendaharaan), tolak 28% cukai pendapatan bagi tahun kewangan berakhir 31 Disember 2005.
Dividen akhir bersih berjumlah RM8,350,486 adalah tertakluk kepada kelulusan ahli-ahli di Mesyuarat Agung Tahunan Syarikat yang
akan datang.
RIZAB DAN PERUNTUKAN
LAPORAN PARA PENGARAH
Kesemua pindahan ketara kepada ataupun daripada rizab dan peruntukan sepanjang tahun kewangan adalah seperti yang
dinyatakan di dalam penyata kewangan.
SKIM OPSYEN SAHAM KAKITANGAN (“ESOS”)
bagi tahun kewangan berakhir 31 Disember 2005
Syarikat telah melaksanakan Skim Opsyen Saham Kakitangan (“ESOS”) bagi kakitangan serta Pengarah Eksekutif Kumpulan yang
berkelayakan.
ESOS tersebut telah diluluskan oleh para pemegang saham di Mesyuarat Agung Luar Biasa yang diadakan pada 25 Jun 2003.
Butiran berkaitan ESOS ini adalah seperti yang dibentangkan dalam Nota 26 penyata kewangan.
Syarikat telah diberi pelepasan oleh Suruhanjaya Syarikat Malaysia selaras dengan Seksyen 169(11) Akta Syarikat, 1965 daripada
mendedahkan senarai pemegang opsyen dan butiran pemegangan mereka kecuali bagi pemegang opsyen yang memegang opsyen
200,000 saham biasa dan ke atas. Syarikat juga telah diberi pelepasan daripada mendedahkan senarai Pengarah dan butiran
pemegangan opsyen mereka ke atas saham biasa.

SKIM OPSYEN SAHAM KAKITANGAN (“ESOS”) (samb.)
153
Di sepanjang tahun kewangan, pergerakan dalam bilangan opsyen ke atas saham biasa Syarikat yang diberi kepada pemegang opsyen
(kecuali para Pengarah) yang memegang opsyen 200,000 saham biasa dan ke atas adalah seperti berikut:
Opsyen ke atas saham biasa bernilai RM1.00 sesaham
Harga Pada Pada
Nama kakitangan langganan/saham 1.1.2005 Diberi Dilaksana Luput 31.12.2005
RM ’000 ’000 ’000 ’000 ’000
Chia Lui Meng 1.31 206 – – – 206
Henry Leong Hock Seng 1.31 287 – – (287) –
Lau Boon Ann 1.31 216 – – – 216
Lee Kar Fook 1.31 208 – – – 208
Ng Tay Guan 1.31 216 – – – 216
SAHAM PERBENDAHARAAN
Di sepanjang tahun kewangan, Syarikat telah membeli semula sahamnya sebanyak 76,800 saham biasa pada harga purata lebih
kurang RM0.95 sesaham daripada pasaran terbuka Bursa Malaysia Sekuriti.
Butiran tentang saham perbendaharaan adalah seperti yang dibentangkan dalam Nota 26 penyata kewangan.
PARA PENGARAH
Para Pengarah yang berkhidmat sepanjang tempoh bermula dari tarikh laporan yang lepas adalah seperti berikut:
Pengarah Gilir
YBhg Tan Sri Dato’ Musa bin Hitam (Dilantik pada 26 Januari 2006)
Lui Chong Chee (Dilantik pada 1 Ogos 2005) Soong Hee Sang (Dilantik pada 5 September 2005)
Dato’ Ng Eng Tee
Datuk Mohd Khamil bin Jamil (Meletak jawatan pada 31 Mac 2006) Ahmad Shaifuldin bin Mahamad Sharudi
(Meletak jawatan pada 10 November 2005)
Datuk Syed Ahmad Khalid bin Syed Mohammed
Datuk Nur Jazlan bin Tan Sri Mohamed
Ng Eng Soon
Dato’ Mohd Hanafiah bin Omar
Soong Hee Sang (Dilantik pada 22 Mac 2006)
Tham Kui Seng (Meletak jawatan pada 1 Ogos 2005)
Dr Choo Kian Koon (Meletak jawatan pada 17 Mac 2006) Rita Lau Chen Chen (Meletak jawatan pada 17 Mac 2006)
Selaras dengan Artikel 94 Tataurusan Syarikat, Datuk Syed Ahmad Khalid bin Syed Mohammed dan Ng Eng Soon bersara mengikut
giliran di Mesyuarat Agung Tahunan yang akan datang dan, kerana layak, menawarkan diri mereka untuk pemilihan semula.
Selaras dengan Artikel 99 Tataurusan Syarikat, Lui Chong Chee dan Soong Hee Sang, yang telah dilantik dalam tempoh tersebut,
bersara di Mesyuarat Agung Tahunan yang akan datang dan, kerana layak, menawarkan dirinya untuk pemilihan semula.
Selaras dengan Seksyen 129(2) Akta Syarikat, 1965, YBhg Tan Sri Dato’ Musa bin Hitam, kerana melebihi umur tujuh puluh tahun,
bersara di Mesyuarat Agung Tahunan yang akan datang dan dilantik semula sebagai Pengarah menurut Seksyen 129(6) Akta
Syarikat, 1965.
MANFAAT PARA PENGARAH
Di sepanjang dan di akhir tahun kewangan, tidak wujud sebarang urusan yang melibatkan Syarikat, yang bertujuan atau mempunyai
tujuan untuk membolehkan para Pengarah Syarikat mendapat manfaat melalui perolehan saham atau debentur Syarikat atau
mana-mana badan korporat lain, kecuali opsyen ke atas saham biasa yang diberikan oleh Syarikat (lihat Nota 7 penyata kewangan).
UNITED MALAYAN LAND BHD

154
LAPORAN PARA PENGARAH (samb.)
MANFAAT PARA PENGARAH (samb.)
Sejak akhir tahun kewangan yang lalu, tiada Pengarah yang telah menerima atau menjadi layak untuk menerima manfaat (selain
daripada ganjaran Pengarah yang dinyatakan dalam Nota 7 penyata kewangan) menerusi kontrak yang dibuat oleh Syarikat atau
syarikat yang berkaitan dengan Pengarah atau dengan firma di mana Pengarah adalah ahli, atau dengan syarikat di mana Pengarah
mempunyai kepentingan kewangan yang besar, kecuali seperti yang dinyatakan dalam Nota 28 penyata kewangan.
KEPENTINGAN PARA PENGARAH DALAM SAHAM DAN DEBENTUR
Menurut Daftar Pegangan Saham Para Pengarah, butiran kepentingan para Pengarah yang berkhidmat pada akhir tahun kewangan
dalam saham dan opsyen ke atas saham biasa Syarikat adalah seperti berikut:
Bilangan saham biasa bernilai RM1.00 sesaham
Pada Pada
1.1.2005 Dibeli Dijual 31.12.2005
’000 ’000 ’000 ’000
Pegangan saham di atas nama Pengarah
Dato’ Ng Eng Tee 7,888 1,600 (1,600) 7,888
Ng Eng Soon 7,151 – – 7,151
Pegangan saham di mana Pengarah dianggap
mempunyai kepentingan
Dato’ Ng Eng Tee 21,829 216 – 22,045
Ng Eng Soon 17,829 – – 17,829
Pada
Bilangan opsyen ke atas saham biasa bernilai RM1.00 sesaham
Pada
1.1.2005 Tawaran Langganan Luput 31.12.2005
’000 ’000 ’000 ’000 ’000
Dato’ Ng Eng Tee 500 – – – 500
Disebabkan kepentingan langsung dan tidak langsung Dato’ Ng Eng Tee dan Ng Eng Soon di dalam Syarikat, mereka dianggap
mempunyai kepentingan di dalam saham syarikat subsidiari setakat mana Syarikat mempunyai kepentingan.
Selain daripada apa yang dinyatakan di atas, menurut Daftar Pegangan Saham Para Pengarah, para Pengarah yang berkhidmat pada
akhir tahun kewangan tidak memegang sebarang kepentingan dalam saham, opsyen ke atas saham biasa atau debentur Syarikat dan
syarikat berkaitan sepanjang tahun kewangan.
MAKLUMAT BERKANUN BERKAITAN PENYATA KEWANGAN
Sebelum penyata pendapatan dan lembaran imbangan disediakan, para Pengarah telah mengambil langkah-langkah sewajarnya:
(a) untuk memastikan bahawa tindakan sewajarnya telah diambil berhubung dengan menghapus kira hutang lapuk dan
penyediaan elaun bagi hutang ragu dan mereka telah berpuas hati bahawa semua hutang lapuk yang diketahui telah dihapus
kira dan elaun secukupnya telah dibuat untuk hutang ragu; dan
(b) untuk memastikan bahawa sebarang aset semasa, kecuali hutang yang tidak mungkin diperolehi nilainya dalam perjalanan
biasa perniagaan seperti yang ditunjukkan dalam rekod perakaunan Kumpulan dan Syarikat telah dikurangkan nilainya kepada
satu jumlah yang dijangka boleh diperolehi.
Pada tarikh laporan ini, para Pengarah tidak menyedari akan sebarang keadaan:
bagi tahun kewangan berakhir 31 Disember 2005
(a) yang boleh menyebabkan jumlah yang dihapus kira bagi hutang lapuk atau jumlah yang diperuntukkan bagi hutang ragu di
dalam penyata kewangan Kumpulan dan Syarikat menjadi tidak mencukupi ke sebarang tahap yang ketara; atau
(b) yang boleh menyebabkan nilai yang diletakkan ke atas aset semasa di dalam penyata kewangan Kumpulan dan Syarikat
mengelirukan; atau
(c) yang telah timbul dan menyebabkan pematuhan kepada kaedah penilaian aset atau liabiliti Kumpulan dan Syarikat yang sedia
ada mengelirukan atau tidak sesuai.

MAKLUMAT BERKANUN BERKAITAN PENYATA KEWANGAN (samb.)
155
Tiada liabiliti luar jangka atau liabiliti lain yang telah berkuatkuasa atau berkemungkinan akan dikuatkuasakan dalam tempoh dua
belas bulan selepas akhir tahun kewangan, yang mana mengikut pendapat para Pengarah, akan atau mungkin menjejaskan
keupayaan Kumpulan atau Syarikat untuk memenuhi tanggungjawab mereka apabila tiba masanya.
Pada tarikh laporan ini, tidak wujud:
(a) sebarang caj ke atas aset Kumpulan atau Syarikat yang telah timbul sejak akhir tahun kewangan yang menjamin liabiliti manamana
pihak lain; atau
(b) sebarang liabiliti luar jangka Kumpulan atau Syarikat yang telah timbul sejak akhir tahun kewangan.
Pada tarikh laporan ini, para Pengarah tidak menyedari akan adanya sebarang keadaan yang tidak diuruskan di dalam laporan atau
penyata kewangan ini, yang akan menyebabkan sebarang jumlah yang dinyatakan di dalam penyata kewangan ini mengelirukan.
Pada pendapat para Pengarah:
(a) keputusan operasi Kumpulan dan Syarikat sepanjang tahun kewangan tidak terjejas dengan ketara oleh sebarang perkara,
urusniaga atau peristiwa penting dan bersifat luar biasa; dan
(b) dalam tempoh di antara akhir tahun kewangan dan tarikh laporan ini, tidak timbul sebarang perkara, urusniaga atau peristiwa
penting dan bersifat luar biasa yang berkemungkinan menjejaskan keputusan operasi Kumpulan dan Syarikat dengan ketara
bagi tahun kewangan di mana laporan ini dibuat, kecuali seperti yang dinyatakan dalam Nota 30 penyata kewangan.
MAKLUMAT KORPORAT
Syarikat merupakan sebuah syarikat awam dengan liabiliti terhad, yang diperbadankan dan bermastautin di Malaysia, dan tersenarai
di Papan Utama Bursa Malaysia Sekuriti.
Alamat pejabat berdaftar dan tempat kegiatan utama Syarikat adalah seperti berikut:
Suit 1.1, Tingkat 1
Kompleks Antarabangsa
Jalan Sultan Ismail
50250 Kuala Lumpur
Malaysia
Telefon : (603) 2142 1611
Faks : (603) 2142 1826
Laman web : http: //www.umland.com.my
JURUAUDIT
Juruaudit, PricewaterhouseCoopers, telah menyatakan kesanggupan mereka untuk terus berkhidmat.
Ditandatangani bagi pihak Lembaga Pengarah, menurut resolusi mereka bertarikh 20 April 2006.
DATO’ NG ENG TEE DATUK NUR JAZLAN BIN TAN SRI MOHAMED
PENGARAH PENGARAH
UNITED MALAYAN LAND BHD

156
Kumpulan Syarikat
Nota 2005 2004 2005 2004
RM’000 RM’000 RM’000 RM’000
Hasil 4 214,805 164,845 33,035 21,213
Pendapatan faedah 1,816 1,446 – –
Pendapatan operasi lain 2,603 1,258 1 205
Kos pembangunan yang diiktiraf sebagai perbelanjaan (138,369) (101,688) – –
Kos pembinaan yang diiktiraf sebagai perbelanjaan 113 40 – –
Perbelanjaan manfaat kakitangan 5 (17,209) (12,547) (6,305) (4,771)
Susutnilai hartanah, loji dan peralatan (1,605) (1,539) (330) (158)
Hartanah, loji dan peralatan dihapus kira – (29) – –
Perbelanjaan pengiklanan dan promosi (6,092) (2,739) (24) (91)
Pemeliharaan, pembaikan dan penyelenggaraan aset (1,313) (1,303) (296) (195)
Penyewaan premis (753) (663) (544) (532)
Elaun hutang ragu (2,453) (3,391) – –
Masuk kira semula elaun hutang ragu 3,837 5,084 – –
Yuran perunding profesional (7,721) (2,776) (350) (261)
Yuran pengurusan (338) (266) (104) (266)
Perbelanjaan operasi lain (8,926) (7,589) (870) (796)
––––––––––––––––––– ––––––––––––––––––– ––––––––––––––––––– –––––––––––––––––––
Keuntungan daripada operasi 6 38,395 38,143 24,213 14,348
Kos kewangan 8 (1,544) (1,240) (367) (11)
Keputusan perkongsian syarikat bersekutu 8 (1,885) – –
––––––––––––––––––– ––––––––––––––––––– ––––––––––––––––––– –––––––––––––––––––
Keuntungan daripada aktiviti biasa sebelum cukai 36,859 35,018 23,846 14,337
Perbelanjaan Cukai
- Syarikat dan syarikat subsidiari 9 (3,131) (9,313) (6,861) (4,189)
––––––––––––––––––– ––––––––––––––––––– ––––––––––––––––––– –––––––––––––––––––
Keuntungan daripada aktiviti biasa selepas cukai 33,728 25,705 16,985 10,148
Kepentingan minoriti (4,517) (5,140) – –
––––––––––––––––––– ––––––––––––––––––– ––––––––––––––––––– –––––––––––––––––––
Keuntungan bersih bagi tahun kewangan 29,211 20,565 16,985 10,148
================= ================= ================= =================
Pendapatan sesaham (sen)
PENYATA PENDAPATAN
bagi tahun kewangan berakhir 31 Disember 2005
- asas 10 12.6 8.9
================= =================
Tidak Tidak
- cair 10 berkaitan berkaitan
================= =================
Dividen sesaham (sen) 11 7.5 7.5 7.5 7.5
================= ================= ================= =================

ASET BUKAN SEMASA
157
Kumpulan Syarikat
Nota 2005 2004 2005 2004
RM’000 RM’000 RM’000 RM’000
Hartanah, loji dan peralatan 12 344,388 344,163 1,007 312
Pelaburan dalam syarikat subsidiari 13 – – 602,191 597,041
Pelaburan dalam syarikat bersekutu 14 2,748 2,740 – –
Pelaburan lain-lain 15 2,009 9 2,000 –
Tanah dipegang untuk pembangunan hartanah 16 178,454 206,985 – –
Penghutang dagangan jangka panjang 17 4,004 3,774 – –
Aset cukai tertunda 18 17,861
–––––––––––––––––––
14,658
–––––––––––––––––––
–
–––––––––––––––––––
–
–––––––––––––––––––
549,464 572,329 605,198 597,353
––––––––––––––––––– ––––––––––––––––––– ––––––––––––––––––– –––––––––––––––––––
ASET SEMASA
Hartanah siap 19 79,291 83,419 – –
Kos pembangunan hartanah 20 431,848 391,284 – –
Cukai boleh pulih 62 6,258 291 291
Penghutang dagangan dan lain-lain 21 83,581 72,161 168,869 155,791
Deposit, baki bank dan tunai 22 47,585
–––––––––––––––––––
18,089
–––––––––––––––––––
6,574
–––––––––––––––––––
881
–––––––––––––––––––
642,367 571,211 175,734 156,963
––––––––––––––––––– ––––––––––––––––––– ––––––––––––––––––– –––––––––––––––––––
TOLAK: LIABILITI SEMASA
Pemiutang dagangan dan lain-lain 23 79,741 61,068 3,117 1,478
Peruntukan
Pinjaman (bercagar)
24 950 20,777 – –
- overdraf bank 25 15,915 8,060 – –
- lain-lain 25 134,032 131,075 – –
Liabiliti cukai semasa 5,753 8,089 3,287 3,322
Pemiutang dividen 11 4,176 – 4,176 –
––––––––––––––––––– ––––––––––––––––––– ––––––––––––––––––– –––––––––––––––––––
240,567 229,069 10,580 4,800
––––––––––––––––––– ––––––––––––––––––– ––––––––––––––––––– –––––––––––––––––––
ASET SEMASA BERSIH 401,800 342,142 165,154 152,163
TOLAK : LIABILITI BUKAN SEMASA
Liabiliti cukai tertunda 18 32,788 36,506 652 22
Pinjaman 25 112,673 89,600 20,000 –
––––––––––––––––––– ––––––––––––––––––– ––––––––––––––––––– –––––––––––––––––––
805,803 788,365 749,700 749,494
================= ================= ================= =================
MODAL DAN RIZAB
LEMBARAN IMBANGAN
pada 31 Disember 2005
Modal saham 26 232,347 232,347 232,347 232,347
Rizab 27 514,055 501,623 517,353 517,147
––––––––––––––––––– ––––––––––––––––––– ––––––––––––––––––– –––––––––––––––––––
Ekuiti pemegang saham 746,402 733,970 749,700 749,494
Kepentingan minoriti 59,401 54,395 – –
––––––––––––––––––– ––––––––––––––––––– ––––––––––––––––––– –––––––––––––––––––
805,803 788,365 749,700 749,494
================= ================= ================= =================
Aset ketara bersih sesaham 10 RM3.22 RM3.16
================= =================
UNITED MALAYAN LAND BHD

158
PENYATA PERUBAHAN
DALAM EKUITI YANG DISATUKAN
bagi tahun kewangan berakhir 31 Disember 2005
Saham Pen-
Modal Premium Rizab nilai Rizab Perben- dapatan Rizab nilai
Nota saham saham semula modal daharaan tertahan semula* Jumlah
RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 RM’000
Pada 1 Januari 2005
Pembelian saham
perbendaharaan
232,347 60,428 244,969 (41,300) (374) 183,334 54,566 733,970
(76,800 saham biasa)
Realisasi rizab
26 – – – – (75) – – (75)
nilai semula
Keuntungan bersih bagi
– – (4,224) – – – 4,224 –
tahun kewangan
Dividen yang
dibayar bagi tahun
kewangan berakhir
– – – – – 29,211 – 29,211
31 Disember 2004
Dividen interim perlu
dibayar bagi tahun
kewangan berakhir
11 – – – – – (12,528) – (12,528)
31 Disember 2005 11 – – – – – (4,176) – (4,176)
–––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––
Pada 31 Disember 2005 232,347 60,428 240,745 (41,300) (449) 195,841 58,790 746,402
==========================================================================================================================================================
Pada 1 Januari 2004
Perbelanjaan penerbitan
232,346 60,429 243,527 (41,300) (349) 171,123 53,789 719,565
saham
Pembelian saham
perbendaharaan
– (1) – – – – – (1)
(21,900 saham biasa)
Penerbitan saham
biasa bagi
26 – – – – (25) – – (25)
pelaksanaan ESOS
Realisasi rizab
1 – – – – – – 1
nilai semula
Pembalikan liabiliti
– – (777) – – – 777 –
cukai tertunda
Keuntungan bersih bagi
– – 2,219 – – – – 2,219
tahun kewangan
Dividen yang dibayar
bagi tahun
kewangan berakhir
– – – – – 20,565 – 20,565
31 Disember 2003 – – – – – (8,354) – (8,354)
–––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––
Pada 31 Disember 2004 232,347 60,428 244,969 (41,300) (374) 183,334 54,566 733,970
==========================================================================================================================================================
* Ini mewakili rizab nilai semula terkumpul yang telah direalisasikan.

PENYATA PERUBAHAN
DALAM EKUITI SYARIKAT
bagi tahun kewangan berakhir 31 Disember 2005
159
Tidak boleh diagihkan Boleh diagihkan
Modal Premium Rizab nilai Saham Pen-
Nota saham saham semula Perben- dapatan Rizab nilai
daharaan tertahan semula* Jumlah
RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 RM’000
Pada 1 Januari 2005
Pembelian saham perbendaharaan
232,347 60,428 385,808 (374) 56,029 15,256 749,494
(76,800 saham biasa)
Keuntungan bersih bagi
26 – – – (75) – – (75)
tahun kewangan
Dividen yang dibayar
bagi tahun kewangan
– – – – 16,985 – 16,985
berakhir 31 Disember 2004
Dividen interim perlu
dibayar bagi tahun
kewangan berakhir
11 – – – – (12,528) – (12,528)
31 Disember 2005 11 – – – – (4,176) – (4,176)
–––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––
Pada 31 Disember 2005 232,347 60,428 385,808 (449) 56,310 15,256 749,700
=====================================================================================================================================
Pada 1 Januari 2004 232,346 60,429 385,808 (349) 54,235 15,256 747,725
Perbelanjaan penerbitan saham
Pembelian saham perbendaharaan
– (1) – – – – (1)
(21,900 saham biasa)
Penerbitan saham biasa bagi
26 – – – (25) – – (25)
pelaksanaan ESOS
Keuntungan bersih bagi
1 – – – – – 1
tahun kewangan
Dividen yang dibayar
bagi tahun kewangan
– – – – 10,148 – 10,148
berakhir 31 Disember 2003 – – – – (8,354) – (8,354)
–––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––
Pada 31 Disember 2004 232,347 60,428 385,808 (374) 56,029 15,256 749,494
=====================================================================================================================================
* Ini mewakili rizab nilai semula terkumpul yang telah direalisasikan.
UNITED MALAYAN LAND BHD

160
PENYATA ALIRAN TUNAI
ALIRAN TUNAI DARIPADA AKTIVITI OPERASI
bagi tahun kewangan berakhir 31 Disember 2005
Kumpulan Syarikat
2005 2004 2005 2004
RM’000 RM’000 RM’000 RM’000
Keuntungan bersih bagi tahun kewangan
Pelarasan untuk:
29,211 20,565 16,985 10,148
Elaun hutang ragu 2,453 3,391 – –
Masuk kira semula elaun hutang ragu (3,837) (5,084) – –
Susutnilai hartanah, loji dan peralatan 1,605 1,539 330 158
Hartanah, loji dan peralatan dihapus kira – 29 – –
Keuntungan atas pelupusan hartanah, loji dan peralatan (16) (467) – (205)
Pendapatan dividen kasar daripada syarikat subsidiari – – (23,236) (11,620)
Perbelanjaan faedah 1,544 1,240 367 11
Pendapatan faedah (1,846) (1,467) (4,524) (5,333)
Kerugian atas pelupusan hartanah, loji dan peralatan
Penarikbalikan peruntukan bagi kos pembangunan hartanah
– 52 – –
yang tidak digunakan (10,411) (1,653) – –
Kepentingan minoriti 4,517 5,140 – –
Perkongsian keputusan syarikat bersekutu (8) 1,885 – –
Perbelanjaan Cukai 3,131 9,313 6,861 4,189
––––––––––––––––––– ––––––––––––––––––– ––––––––––––––––––– –––––––––––––––––––
Pengurangan/(peningkatan) dalam tanah yang
dipegang untuk pembangunan, hartanah
26,343 34,483 (3,217) (2,652)
siap dan kos pembangunan hartanah 4,550 (145,986) – –
(Peningkatan)/pengurangan dalam penghutang (9,826) 4,335 (6,053) 12,146
Peningkatan/(pengurangan) dalam pemiutang 11,321 (12,756) (161) 8
––––––––––––––––––– ––––––––––––––––––– ––––––––––––––––––– –––––––––––––––––––
Aliran tunai bersih daripada operasi 32,388 (119,924) (9,431) 9,502
Faedah dibayar (11,580) (4,471) (59) (11)
Faedah diterima 1,406 1,192 4,823 3,684
Cukai dibayar (10,674) (9,891) (1,393) (451)
––––––––––––––––––– ––––––––––––––––––– ––––––––––––––––––– –––––––––––––––––––
Aliran tunai bersih daripada aktiviti operasi 11,540
–––––––––––––––––––
(133,094)
–––––––––––––––––––
(6,060)
–––––––––––––––––––
12,724
–––––––––––––––––––

161
Kumpulan Syarikat
2005 2004 2005 2004
RM’000 RM’000 RM’000 RM’000
ALIRAN TUNAI DARIPADA AKTIVITI PELABURAN
Pelaburan dalam syarikat subsidiari – – (5,150) (12,500)
Pendapatan dividen bersih daripada syarikat subsidiari – – 12,531 8,366
Hasil daripada pelupusan hartanah, loji dan peralatan 230 906 206 300
Pembelian hartanah, loji dan peralatan (2,044) (226) (1,231) (31)
Pembelian saham perbendaharaan (75) (25) (75) (25)
––––––––––––––––––– ––––––––––––––––––– ––––––––––––––––––– –––––––––––––––––––
Aliran tunai bersih daripada aktiviti pelaburan (1,889) 655 6,281 (3,890)
––––––––––––––––––– ––––––––––––––––––– ––––––––––––––––––– –––––––––––––––––––
ALIRAN TUNAI DARIPADA AKTIVITI PEMBIAYAAN
Dividen dibayar (14,139) (8,354) (12,528) (8,354)
Surutan bersih bagi pinjaman
Hasil daripada penerbitan saham
keutamaan boleh tebus dalam syarikat
24,029 131,275 18,000 –
subsidiari kepada kepentingan minoriti
Hasil daripada penerbitan saham biasa dalam
2,100 – – –
syarikat subsidiari kepada kepentingan minoriti
Hasil daripada penerbitan saham biasa
– 1,500 – –
bagi pelaksanaan ESOS – 1 – 1
Perbelanjaan penerbitan saham – (1) – (1)
––––––––––––––––––– ––––––––––––––––––– ––––––––––––––––––– –––––––––––––––––––
Aliran tunai bersih daripada aktiviti pembiayaan 11,990 124,421 5,472 (8,354)
––––––––––––––––––– ––––––––––––––––––– ––––––––––––––––––– –––––––––––––––––––
PENINGKATAN/(PENGURANGAN)
BERSIH DALAM TUNAI DAN SETARA TUNAI 21,641 (8,018) 5,693 480
TUNAI DAN SETARA TUNAI
PADA AWAL TAHUN KEWANGAN
TUNAI DAN SETARA TUNAI
10,029
–––––––––––––––––––
18,047
–––––––––––––––––––
881
–––––––––––––––––––
401
–––––––––––––––––––
PADA AKHIR TAHUN KEWANGAN 31,670 10,029 6,574 881
================= ================= ================= =================
Tunai dan setara tunai merangkumi:
Baki bank dan tunai (Nota 22)
Baki bank di bawah Akaun Pembangunan
13,982 3,894 6,574 881
Perumahan (“HDA”) (Nota 22) 32,187 14,195 – –
Baki bank di bawah dana terikat (Nota 22) 1,416 – – –
Overdraf bank (Nota 25) (15,915) (8,060) – –
––––––––––––––––––– ––––––––––––––––––– ––––––––––––––––––– –––––––––––––––––––
31,670 10,029 6,574 881
================= ================= ================= =================
UNITED MALAYAN LAND BHD

162
1 AKTIVITI-AKTIVITI UTAMA
Aktiviti-aktiviti utama Syarikat adalah pegangan pelaburan dan peruntukan perkhidmatan pengurusan.
Aktiviti-aktiviti utama syarikat subsidiari Kumpulan adalah seperti yang dinyatakan dalam Nota 13 penyata kewangan.
Tiada perubahan penting dalam aktiviti-aktiviti tersebut sepanjang tahun kewangan.
2 RINGKASAN DASAR-DASAR PERAKAUNAN PENTING
Dasar-dasar perakaunan berikut telah digunakan secara konsisten dalam pengurusan perkara-perkara yang dianggap penting
berhubung dengan penyata kewangan.
(a) Asas penyediaan
Penyata kewangan Kumpulan dan Syarikat telah disediakan berdasarkan kaedah kos sejarah (yang telah diubahsuai untuk
mengambil kira penilaian semula hartanah, loji dan peralatan tertentu serta pelaburan dalam syarikat subsidiari), kecuali
dinyatakan sebaliknya di dalam ringkasan dasar-dasar perakaunan penting ini.
Penyata kewangan ini mematuhi piawaian perakaunan yang diluluskan di Malaysia oleh Badan Piawaian Perakaunan
Malaysia (“MASB”) dan peruntukan Akta Syarikat, 1965.
Penyediaan penyata kewangan ini menurut piawaian perakaunan MASB yang diluluskan di Malaysia dan peruntukan
Akta Syarikat, 1965, memerlukan para Pengarah membuat anggaran serta andaian yang memberi kesan kepada jumlah
aset dan liabiliti yang dilaporkan serta pendedahan aset dan liabiliti luar jangka pada tarikh penyata kewangan serta
jumlah hasil dan perbelanjaan di sepanjang tahun kewangan yang dilaporkan. Walaupun anggaran ini dibuat berdasarkan
pengetahuan para Pengarah sebaiknya berkaitan peristiwa dan tindakan semasa, keputusan sebenar mungkin berbeza
daripada anggaran tersebut.
(b) Asas penyatuan
NOTA-NOTA KEPADA PENYATA KEWANGAN
bagi tahun kewangan berakhir 31 Disember 2005
Penyata kewangan yang disatukan merangkumi penyata kewangan Syarikat dan semua syarikat subsidiarinya sehingga
akhir tahun kewangan. Syarikat subsidiari adalah syarikat di mana Kumpulan mempunyai kuasa untuk melaksanakan
kawalan ke atas dasar-dasar kewangan dan operasi syarikat untuk memperolehi manfaat daripada aktiviti-aktiviti mereka.
Syarikat subsidiari disatukan menggunakan kaedah perakaunan pengambilalihan kecuali bagi syarikat subsidiari (seperti
dinyatakan dalam Nota 13 penyata kewangan) yang telah disatukan menggunakan kaedah perakaunan percantuman.
Syarikat subsidiari tersebut telah disatukan sebelum 1 Januari 2002 selaras dengan Piawaian Perakaunan Malaysia No. 2
“Perakaunan bagi Pengambilalihan dan Penyatuan”, yang merupakan dasar perakaunan yang diterima secara umum pada
masa tersebut.
Kumpulan telah menggunakan pengecualian di bawah Piawaian Pelaporan Kewangan (“FRS”) 1222004 “Gabungan
Perniagaan” (dulu dikenali sebagai MASB 21) untuk menerapkan Piawaian ini secara prospektif. Selaras dengan ini,
gabungan perniagaan yang dimasuki sebelum 1 Januari 2002 tidak dinyatakan semula bagi mematuhi Piawaian tersebut.
Di bawah kaedah perakaunan pengambilalihan, syarikat subsidiari disatukan dari tarikh kawalan dipindahkan kepada
Kumpulan dan tidak lagi disatukan dari tarikh tamatnya kawalan tersebut. Keputusan syarikat subsidiari yang diambilalih
atau dilupuskan sepanjang tahun kewangan dimasukkan dari tarikh pengambilalihannya sehingga ke tarikh
pelupusannya. Pada tarikh pengambilalihan, nilai saksama aset bersih syarikat subsidiari ditentukan dan nilai ini
digambarkan dalam penyata kewangan yang disatukan. Perbezaan antara kos pengambilalihan berbanding nilai saksama
saham Kumpulan bagi aset bersih yang boleh dikenalpasti milik syarikat subsidiari pada tarikh pengambilalihan
digambarkan sebagai muhibah atau muhibah negatif. Lihat dasar perakaunan Nota 2(d) mengenai muhibah atas
penyatuan. Kos pengambilalihan adalah jumlah tunai yang dibayar dan nilai saksama pada tarikh pengambilalihan bagi
pertimbangan pembelian lain berserta dengan perbelanjaan yang berpunca terus dari pengambilalihan tersebut.
Di bawah kaedah perakaunan percantuman, keputusan syarikat subsidiari dibentangkan seolah-olah percantuman telah
dilaksanakan di sepanjang tahun kewangan semasa dan sebelumnya. Kos pelaburan dalam percantuman ini dicatatkan
pada agregat nilai nominal saham ekuiti diterbitkan, tunai dan setara tunai serta nilai saksama bagi pertimbangan lain.
Perbelanjaan yang ditanggung berhubung percantuman ini diiktiraf sebagai perbelanjaan di dalam penyata pendapatan.
Dengan penyatuan, kos percantuman dibatalkan dengan penerimaan nilai nominal saham. Lebihan nilai bawaan
pelaburan berbanding nilai nominal saham yang diperoleh dianggap sebagai pengurangan rizab, manakala lebihan nilai
nominal saham yang diperoleh ke atas nilai bawaan pelaburan dianggap sebagai rizab yang timbul daripada percantuman
dan dimasukkan sebagai sebahagian daripada ekuiti pemegang saham.

2 RINGKASAN DASAR-DASAR PERAKAUNAN PENTING (samb.)
(b) Asas penyatuan (samb.)
163
Semua urusniaga antara syarikat, baki dan keuntungan atas urusniaga yang belum direalisasi dihapuskan; kerugian
belum direalisasi turut dihapuskan kecuali kos tidak dapat dipulihkan, yang mana dalam keadaan ini kos tersebut dicajkan
kepada penyata pendapatan dengan segera. Dasar-dasar perakaunan bagi syarikat subsidiari telah ditukar di mana perlu,
bagi memastikan ketekalan dengan dasar-dasar yang diterima pakai oleh Kumpulan.
Kepentingan minoriti ditentukan mengikut bahagian perkongsian minoriti bagi nilai saksama aset dan liabiliti yang
dikenal pasti ke atas pengambilalihan. Pendedahan berasingan dibuat bagi kepentingan minoriti.
(c) Perakaunan bagi syarikat bersekutu
Syarikat bersekutu adalah syarikat di mana Kumpulan menggunakan sebahagian besar pengaruhnya dan di mana ia
bukannya syarikat subsidiari mahupun usaha sama Kumpulan. Pengaruh penting bermaksud kuasa untuk menyertai
dalam keputusan berkaitan dasar kewangan serta pengendalian syarikat bersekutu tetapi tidak mempunyai kawalan ke
atas dasar-dasar tersebut. Pelaburan dalam syarikat bersekutu diambil kira di dalam penyata kewangan disatukan
menggunakan kaedah perakaunan ekuiti.
Perakaunan ekuiti melibatkan pengiktirafan bahagian perkongsian yang diperolehi Kumpulan hasil keputusan syarikat
bersekutu bagi tahun kewangan, di dalam penyata pendapatan. Pelaburan Kumpulan dalam syarikat bersekutu
dinyatakan di dalam lembaran imbangan pada jumlah yang menggambarkan bahagian perkongsiannya dalam aset bersih
syarikat bersekutu. Perakaunan ekuiti ditamatkan apabila jumlah bawaan pelaburan di dalam syarikat bersekutu
mencapai sifar, kecuali jika Kumpulan menanggung atau menjamin kewajipan terhadap syarikat bersekutu tersebut.
Keuntungan belum direalisasi ke atas urusniaga di antara Kumpulan dan syarikat bersekutunya dihapuskan sehingga
tahap kepentingan Kumpulan dalam syarikat bersekutu; kerugian belum direalisasi juga dihapuskan kecuali urusniaga
tersebut mengemukakan bukti tentang kerosakan aset yang dipindahkan, yang mana dalam hal ini kerosakan tersebut
dicajkan ke penyata pendapatan dengan segera. Dalam menerapkan kaedah perakaunan ekuiti, pelarasan dibuat kepada
penyata kewangan syarikat bersekutu, di mana sesuai, bagi memastikan ketekalan dasar perakaunannya dengan dasar
Kumpulan.
(d) Muhibah atas penyatuan
Muhibah yang timbul dari penyatuan mewakili lebihan kos pengambilalihan berbanding nilai saksama bahagian
perkongsian Kumpulan terhadap aset bersih yang dikenalpasti di dalam syarikat subsidiari dan syarikat bersekutu pada
tarikh pengambilalihan.
Muhibah yang timbul dari penyatuan dihapus kira terhadap rizab modal yang timbul dari penyatuan setakat jumlah yang
dikekalkan dalam lembaran imbangan. Bagi perkara-perkara lain, muhibah yang timbul dari penyatuan dicajkan ke
penyata pendapatan dengan segera.
Muhibah negatif mewakili lebihan nilai saksama bahagian perkongsian Kumpulan terhadap aset bersih yang dikenalpasti
di dalam syarikat subsidiari dan syarikat bersekutu berbanding kos pengambilalihan pada tarikh pengambilalihan.
Muhibah negatif dikreditkan ke rizab modal yang timbul dari penyatuan.
(e) Pengiktirafan hasil
Hasil daripada penjualan hartanah pembangunan diiktiraf bersih selepas diskaun, berdasarkan kaedah peratusan siap.
Tahap penyiapan diukur dengan merujuk kepada perkadaran fizikal kerja yang telah siap sebagai peratusan keseluruhan
kerja fizikal bagi projek tersebut, seperti yang disahkan oleh pakar runding yang dilantik.
Hasil daripada penjualan hartanah yang telah siap diiktiraf bersih selepas diskaun, selaras dengan syarat-syarat perjanjian
jual beli. Balasan penjualan hartanah yang telah siap di bawah skim ansuran direkodkan pada nilai saksama, yang
ditentukan dengan mendiskaunkan semua penerimaan di masa depan menggunakan kadar faedah imput. Perbezaan di
antara nilai saksama dan nilai nominal balasan penjualan diiktiraf sebagai pendapatan faedah dan dimasukkan ke dalam
penyata pendapatan berdasarkan pembahagian masa yang mengambil kira kesan penerimaan yang terbit daripada
penjualan hartanah yang telah siap di bawah skim ansuran berbanding tempoh ansuran.
Hasil daripada kontrak pembinaan diiktiraf berdasarkan kaedah peratusan siap. Tahap penyiapan diukur dengan merujuk
kepada bahagian di mana kos kontrak ditanggung untuk kerja terkini yang dilakukan berbanding dengan anggaran
keseluruhan kos kontrak seperti mana disahkan oleh pakar runding yang dilantik.
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2 RINGKASAN DASAR-DASAR PERAKAUNAN PENTING (samb.)
(e) Pengiktirafan hasil (samb.)
Dividen kasar daripada pelaburan dimasukkan ke dalam penyata kewangan apabila hak Syarikat untuk menerima
bayaran ditetapkan.
Pendapatan berikut diiktiraf atas dasar penerimaan:
- penyewaan pajakan kuari, penyewaan tanah pajakan dan penyewaan hartanah.
- yuran pengurusan dan yuran pengurusan projek.
- pendapatan faedah.
Faedah atas jumlah belum diterima daripada pembeli rumah diiktiraf dalam penyata pendapatan sebagai terakru.
Peruntukan dibuat untuk hutang ragu apabila kebolehpungutan faedah ini diragui.
(f) Kontrak pembinaan
Apabila kesudahan kontrak pembinaan dapat dianggarkan secara andal, hasil kontrak serta kos kontrak diiktiraf
sepanjang tempoh kontrak masing-masing sebagai hasil dan perbelanjaan. Kumpulan menggunakan kaedah peratusan
siap untuk menentukan jumlah hasil serta kos yang berpatutan untuk diiktiraf dalam tempoh tertentu; tahap penyiapan
diukur dengan merujuk kepada bahagian di mana kos kontrak ditanggung untuk kerja terkini yang dilakukan berbanding
anggaran keseluruhan kos kontrak.
Apabila kesudahan kontrak pembinaan tidak boleh dianggarkan secara andal, hasil kontrak diiktiraf hanya setakat kos
kontrak yang ditanggung yang mana ia berkemungkinan boleh dipungut; kos kontrak diiktiraf sebagai perbelanjaan
dalam tahun kewangan ia ditanggung.
Sama ada kesudahan kontrak pembinaan boleh atau tidak boleh dianggarkan secara andal, apabila terdapatnya
kemungkinan jumlah kos kontrak akan melebihi jumlah hasil kontrak, kerugian yang dijangkakan akan diiktiraf sebagai
perbelanjaan dengan segera.
Agregat kos ditanggung dan untung/rugi yang diiktiraf bagi setiap kontrak dibandingkan dengan bil berperingkat
sehingga ke akhir tahun kewangan. Bila mana kos ditanggung dan keuntungan yang diiktiraf (tolak kerugian yang
diiktiraf) melebihi bil berperingkat, baki akan ditunjukkan sebagai amaun dihutang oleh pelanggan bagi kontrak
pembinaan di bawah perdagangan dan lain-lain belum terima. Bila mana bil berperingkat melebihi kos ditanggung serta
keuntungan yang diiktiraf (tolak kerugian yang diiktiraf), baki akan ditunjukkan sebagai amaun terhutang kepada
pelanggan bagi kontrak pembinaan di bawah perdagangan dan lain-lain belum bayar.
(g) Hartanah, loji dan peralatan
NOTA-NOTA KEPADA PENYATA KEWANGAN (samb.)
Tanah pegangan bebas dinyatakan pada kos atau penilaian.
Tanah pegangan bebas tidak disusutnilai kerana ia mempunyai tempoh hayat infinit.
Tanah pegangan bebas telah dinilai semula oleh para Pengarah berdasarkan penilaian profesional yang dilaksanakan oleh
penilai profesional bebas. Para Pengarah telah menerapkan piawaian FRS 1162004 “Hartanah, Loji dan Peralatan”, (dulu
dikenali sebagai MASB 15) yang dikeluarkan oleh Badan Piawaian Perakaunan Malaysia yang membenarkan aset-aset
tersebut dicatat pada penilaian mereka dalam tahun 1990 dan 1996. Selaras dengan itu, penilaian belum lagi dikemaskini.
Lebihan yang timbul dari penilaian semula dikreditkan ke rizab nilai semula tidak boleh diagihkan. Defisit yang timbul
dari penilaian semula dicajkan kepada rizab nilai semula tidak boleh diagihkan setakat lebihan sebelumnya yang
dikreditkan ke rizab nilai semula tidak boleh diagihkan bagi aset yang sama. Bagi kes-kes lain, pengurangan dalam jumlah
bawaan dicajkan ke penyata pendapatan.
Semua hartanah, loji dan peralatan lain dinyatakan pada kos tolak susutnilai terkumpul dan kerugian terjejas terkumpul.
Semua hartanah, loji dan peralatan lain disusutnilai mengikut dasar garis lurus sepanjang anggaran hayat berguna mereka,
yang diringkaskan seperti berikut:
Bangunan 5%
Perabot, kelengkapan dan peralatan 20% - 33.33%
Kenderaan bermotor 20%
Loji dan jentera 20%
Bangsal kuda dan peralatan ekuestrian 20%
bagi tahun kewangan berakhir 31 Disember 2005

2 RINGKASAN DASAR-DASAR PERAKAUNAN PENTING (samb.)
(g) Hartanah, loji dan peralatan (samb.)
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Susutnilai ke atas aset yang sedang dibina bermula apabila aset tersebut telah siap mengikut tujuan penggunaannya.
Bila mana wujudnya tanda kemerosotan pada tarikh lembaran imbangan, suatu analisis akan dilakukan untuk menaksir
sama ada nilai bawaan aset tersebut boleh diperolehi sepenuhnya. Penurunan nilai dibuat jika nilai bawaan melebihi nilai
yang boleh diperolehi. Lihat dasar perakaunan Nota 2(i) mengenai kemerosotan aset.
Dengan pelupusan sesuatu aset, perbezaan di antara hasil pelupusan bersih dan jumlah bawaannya dicajkan atau
dikreditkan ke penyata pendapatan. Dalam kes di mana tanah dinilai semula, nilai dalam rizab nilai semula tidak boleh
diagihkan yang berkaitan dengan tanah dinilai semula yang telah dilupuskan ini, akan dipindahkan ke rizab boleh
diagihkan.
Kos faedah atas pinjaman untuk membiayai pembinaan hartanah, loji dan peralatan dipermodalkan sebagai sebahagian
kos aset dalam tempoh masa yang diperlukan untuk menyiap dan menyediakan aset bagi tujuan kegunaannya.
(h) Pelaburan
(i) Syarikat subsidiari
Pelaburan dalam syarikat subsidiari dinyatakan pada penilaian berdasarkan nilai aset ketara bersih syarikat
subsidiari, tolak kerugian terjejas terkumpul. Pengambilalihan syarikat subsidiari berikutan tarikh penilaian
dinyatakan pada kos sehingga penilaian semula yang akan datang. Penilaian akan dilakukan sekurang-kurangnya
sekali setiap lima tahun.
Peningkatan dalam nilai bawaan yang timbul dari penilaian semula pelaburan dalam syarikat subsidiari dikreditkan
terus ke ekuiti para pemegang saham sebagai rizab nilai semula tidak boleh diagihkan. Ke tahap di mana
pengurangan dalam amaun bawaan mengimbangi peningkatan sebelumnya, bagi pelaburan yang sama, yang telah
dikreditkan ke rizab nilai semula tidak boleh diagihkan dan berikutan itu tidak dibalikkan atau digunakan, ia
dicajkan ke rizab nilai semula tidak boleh diagihkan tersebut. Bagi semua perkara lain, pengurangan dalam nilai
bawaan dicajkan ke penyata pendapatan. Peningkatan dalam penilaian semula di mana ianya berkait terus dengan
pengurangan dalam nilai bawaan sebelumnya, bagi pelaburan yang sama, yang dicajkan ke penyata pendapatan akan
dikreditkan ke penyata pendapatan setakat mana ia mengimbangi pengurangan yang dicatatkan sebelumnya.
Bagi pelupusan syarikat subsidiari, perbezaan di antara hasil pelupusan bersih dan bahagian perkongsian Kumpulan
bagi aset bersih syarikat subsidiari akan dicajkan atau dikreditkan ke penyata pendapatan. Nilai di dalam rizab nilai
semula tidak boleh diagihkan yang berkaitan dengan syarikat subsidiari ini akan dipindahkan ke rizab boleh diagihkan.
Muhibah atas pengambilalihan yang telah dikreditkan atau dicajkan ke rizab modal yang timbul dari penyatuan dan
pendapatan tertahan akan ditolak sewaktu menentukan keuntungan atau kerugian atas pelupusan syarikat subsidiari.
Bila mana wujudnya tanda kemerosotan, nilai bawaan pelaburan dalam syarikat subsidiari akan ditaksir dan segera
dikurangkan nilainya ke nilai yang dapat diperolehi. Lihat dasar perakaunan Nota 2(i) mengenai kemerosotan aset.
(ii) Syarikat bersekutu dan pelaburan lain-lain bukan semasa
Pelaburan dalam syarikat bersekutu dinyatakan pada kos tolak kerugian terjejas terkumpul. Bila wujudnya tanda
kemerosotan, nilai bawaan pelaburan tersebut ditaksir dan diturun nilai ke nilai yang dapat diperolehi dengan segera.
Pelaburan dalam pelaburan lain-lain bukan semasa dinyatakan pada kos dan peruntukan untuk pengurangan nilai
akan dibuat, di mana mengikut pendapat para Pengarah, terdapatnya penurunan selain daripada sementara di dalam
nilai pelaburan tersebut, penurunan sebegini diiktiraf sebagai perbelanjaan di dalam tempoh di mana penurunan ini
dikenalpasti.
Bagi pelupusan pelaburan, perbezaan di antara hasil pelupusan bersih dan nilai bawaannya akan dicajkan atau
dikreditkan ke penyata pendapatan.
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2 RINGKASAN DASAR-DASAR PERAKAUNAN PENTING (samb.)
(i) Kemerosotan aset
Hartanah, loji dan peralatan serta aset bukan semasa lain, termasuk aset tak ketara, akan diteliti semula untuk kerugian
terjejas bila mana terdapat peristiwa atau perubahan keadaan yang menandakan bahawa nilai bawaan mungkin tidak
dapat diperolehi. Kerugian terjejas diiktiraf bagi nilai di mana nilai bawaan aset melebihi nilai yang dapat diperolehi. Nilai
yang dapat diperolehi adalah nilai yang lebih tinggi di antara harga jualan bersih dan nilai guna aset. Bagi tujuan menaksir
kemerosotan, aset dikumpulkan pada tahap terendah yang mana terdapatnya aliran tunai yang boleh dikenalpasti secara
berasingan.
Kerugian terjejas dicajkan ke penyata pendapatan kecuali jika ia membalikkan penilaian semula yang sebelumnya, di
mana dalam keadaan ini ia dicajkan ke rizab nilai semula. Sebarang peningkatan dalam nilai yang boleh diperolehi
berikutannya diiktiraf dalam penyata pendapatan kecuali jika ia membalikkan kerugian terjejas pada aset yang dinilai
semula di mana dalam keadaan ini ia dikreditkan ke rizab nilai semula.
(j) Penghutang dagangan
Penghutang dagangan dinyatakan pada nilai invois tolak elaun hutang ragu. Elaun diwujudkan apabila terdapat bukti
objektif bahawa Kumpulan tidak dapat memungut kesemua nilai yang terhutang mengikut syarat-syarat asal penghutang
tersebut.
Penghutang dagangan atas penjualan hartanah siap di bawah skim ansuran dicatatkan pada nilai saksamanya, yang
ditentukan dengan mendiskaun kesemua penerimaan masa depan menggunakan kadar faedah imput.
(k) Cukai pendapatan
NOTA-NOTA KEPADA PENYATA KEWANGAN (samb.)
Perbelanjaan cukai semasa ditentukan mengikut undang-undang cukai di bawah bidang kuasa di mana Kumpulan
beroperasi. Ia termasuk semua cukai yang boleh dicajkan ke atas keuntungan kena cukai, dan cukai belum bayar bagi
keuntungan hartanah di atas pelupusan hartanah.
Cukai tertunda diiktiraf sepenuhnya menggunakan kaedah liabiliti berdasarkan perbezaan sementara yang timbul di
antara nilai yang berpunca daripada aset dan liabiliti untuk tujuan cukai dan nilai bawaannya di dalam penyata kewangan.
Aset cukai tertunda diiktiraf ke tahap di mana ada kemungkinan bahawa keuntungan kena cukai akan tersedia
berbanding dengan perbezaan sementara yang boleh ditolak atau kerugian cukai yang tidak diguna, boleh digunakan.
Cukai tertunda diiktiraf berdasarkan perbezaan sementara yang timbul dari pelaburan dalam syarikat subsidiari dan
syarikat bersekutu kecuali di mana penentuan masa pembalikan bagi perbezaan sementara boleh dikawal dan ada
kemungkinan perbezaan sementara ini tidak akan berbalik sejauh yang nampak pada masa depan.
Kadar cukai yang dikenakan atau sebahagian besar cukai yang dikenakan menjelang tarikh lembaran imbangan diguna
untuk menentukan cukai tertunda.
(l) Tanah dipegang untuk pembangunan hartanah
bagi tahun kewangan berakhir 31 Disember 2005
Tanah dipegang untuk pembangunan hartanah terdiri daripada tanah yang tiada kerja pembangunan ketara atau di mana
kerja pembangunan tidak dijangka siap dalam kitaran operasi biasa. Tanah seperti ini dikelaskan sebagai aset bukan
semasa dan dinyatakan pada kos tolak kerugian terjejas terkumpul.
Kos tanah merangkumi harga pembelian tanah, yuran profesional, duti setem, komisyen, yuran pertukaran dan levi lain
yang relevan. Bila mana Kumpulan telah mencatatkan tanah tersebut di nilai penilaian semula sebelum ini, ia terus
mengekalkan nilai ini sebagai kos pengganti seperti yang dibenarkan oleh Piawaian FRS 2012004 “Aktiviti Pembangunan
Hartanah” (dulu dikenali sebagai MASB 32). Di mana terdapat petunjuk bahawa wujudnya kemerosotan, nilai bawaan aset
tersebut ditaksir dan diturunkan nilai ke nilai yang boleh diperolehi dengan segera. Lihat dasar perakauanan Nota 2(i)
mengenai kemerosotan aset.
Tanah yang dipegang untuk pembangunan hartanah dipindahkan ke “Kos pembangunan hartanah” (di bawah aset
semasa) apabila kerja pembangunan telah bermula dan dijangka siap dalam kitaran operasi biasa Kumpulan.

2 RINGKASAN DASAR-DASAR PERAKAUNAN PENTING (samb.)
(m) Hartanah siap
167
Hartanah yang telah siap tetapi tidak dijual dikelas sebagai “Hartanah Siap” dan dinyatakan pada nilai yang lebih rendah
di antara kos dan nilai boleh direalisasi bersih.
Nilai boleh direalisasi bersih ialah anggaran harga jualan dalam urusan biasa perniagaan, tolak kos penyiapan dan
perbelanjaan penjualan.
(n) Kos pembangunan hartanah
Kos pembangunan hartanah merangkumi kos tanah dan semua kos yang berkaitan secara langsung dengan kerja
pembangunan atau boleh diuntukkan secara munasabah kepada kerja-kerja tersebut. Ia termasuk kos pinjaman yang
berkaitan dengan pembiayaan kerja pembinaan tanah tersebut, kos berkaitan pembangunan yang biasa bagi projek
pembangunan serta kos pembinaan langsung. Kos pinjaman dimasukkan ke dalam kos pembangunan hartanah sehingga
projek pembangunan tersebut siap.
Apabila kesudahan kerja pembinaan boleh dianggarkan secara andal, hasil dan perbelanjaan pembangunan hartanah
diiktiraf menggunakan kaedah peratusan siap seperti yang disebut dalam Nota 2(e) mengenai pengiktirafan hasil.
Apabila kesudahan kerja pembinaan tidak boleh dianggarkan secara andal, hasil pembangunan hartanah diiktiraf hanya
setakat kos pembangunan hartanah yang ditanggung yang mana ia berkemungkinan boleh dipungut; kos pembangunan
hartanah bagi unit pembangunan yang dijual diiktiraf bila ia ditanggung.
Sama ada kesudahan bagi kerja pembangunan hartanah boleh atau tidak boleh dianggarkan secara andal, apabila
terdapatnya kemungkinan jumlah kos pembangunan hartanah akan melebihi keseluruhan hasil pembangunan hartanah,
kerugian yang dijangkakan ini akan diiktiraf sebagai perbelanjaan dengan segera.
Kos pembangunan hartanah yang tidak diiktiraf sebagai perbelanjaan akan diiktiraf sebagai aset dan dinyatakan pada
nilai yang lebih rendah di antara kos dan nilai boleh direalisasi.
Bila mana hasil diiktiraf di dalam penyata pendapatan melebihi pembilan kepada pembeli, baki akan ditunjukkan sebagai
pembilan terakru di bawah “Penghutang dagangan dan lain-lain” (dalam aset semasa). Bila mana bil kepada pembeli
melebihi hasil yang diiktiraf dalam penyata pendapatan, baki akan ditunjukkan sebagai bil berperingkat di bawah
“Pemiutang dagangan dan lain-lain” (dalam liabiliti semasa).
(o) Peruntukan
Peruntukan diiktiraf apabila Kumpulan mempunyai kewajipan perundangan atau konstruktif pada waktu ini akibat
peristiwa lampau, jika terdapat kemungkinan bahawa aliran keluar sumber akan diperlukan untuk menyelesaikan
kewajipan tersebut, dan apabila anggaran yang andal bagi nilai itu boleh dibuat.
(p) Modal saham
(i) Klasifikasi
Saham biasa diklasifikasikan sebagai ekuiti. Pengagihan kepada pemegang instrumen kewangan yang dikelaskan
sebagai instrumen ekuiti, dicajkan terus ke ekuiti.
(ii) Kos penerbitan saham
Kos luaran tambahan yang berpunca secara langsung dari penerbitan saham-saham baru, dinyatakan dalam ekuiti
sebagai potongan yang bersih cukai, daripada hasil.
(iii) Dividen kepada para pemegang saham Syarikat
Dividen interim bagi saham biasa diiktiraf sebagai liabiliti sewaktu dicadangkan.
Dividen akhir yang dicadangkan selepas tarikh lembaran imbangan tidak diiktiraf sebagai liabiliti pada tarikh
lembaran imbangan sehingga ia diluluskan oleh para pemegang saham di Mesyuarat Agung Tahunan.
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2 RINGKASAN DASAR-DASAR PERAKAUNAN PENTING (samb.)
(q) Saham perbendaharaan
Bila mana Syarikat atau syarikat subsidiari membeli ekuiti modal saham Syarikat, balasan yang dibayar, termasuk
sebarang kos urusniaga yang berpunca darinya dipotong daripada keseluruhan ekuiti para pemegang saham sebagai
saham perbendaharaan sehingga ia dibatalkan. Bila mana saham-saham ini dijual atau diterbitkan semula kemudiannya,
sebarang balasan yang diterima akan dimasukkan ke dalam ekuiti para pemegang saham.
(r) Manfaat pekerja
(i) Manfaat pekerja jangka pendek
Upah, gaji, cuti tahunan berbayar, cuti sakit, bonus dan faedah bukan wang adalah terakru dalam tempoh di mana
khidmat yang bersangkutan diberikan oleh kakitangan (termasuk Pengarah Eksekutif) Kumpulan.
(ii) Manfaat selepas pekerjaan
Kumpulan mempunyai skim faedah selepas pekerjaan di mana sumbangan dibuat ke Kumpulan Wang Simpanan
Pekerja (“KWSP”), sebuah pelan sumbangan negara yang wajib. Sumbangan Kumpulan kepada KWSP dicajkan ke
penyata pendapatan dalam tahun kewangan yang berkaitan. Sebaik sahaja sumbangan tersebut dibayar, Kumpulan
tidak mempunyai sebarang obligasi pembayaran selanjutnya.
(iii) Manfaat pampasan ekuiti
Butiran bagi Skim Opsyen Saham Kakitangan (“ESOS”) dibentangkan dalam Nota 26 penyata pendapatan. Kumpulan
tidak mengenakan caj kepada penyata pendapatan berhubung dengan opsyen ke atas saham biasa yang diberikan.
Apabila opsyen ke atas saham biasa dilaksanakan, hasil yang diterima, bersih dari sebarang kos urusniaga,
dikreditkan ke modal saham dan saham premium.
(s) Liabiliti dan aset luar jangka
Kumpulan tidak mengiktiraf liabiliti luar jangka tetapi mendedahkan kewujudannya dalam penyata kewangan. Liabiliti
luar jangka adalah suatu obligasi yang berkemungkinan timbul dari peristiwa lampau dan yang mana kewujudannya akan
disahkan oleh peristiwa di masa depan yang belum pasti dan di luar kawalan Kumpulan atau obligasi semasa yang tidak
diiktiraf kerana tidak berkemungkinan suatu aliran keluar sumber akan diperlukan untuk menyelesaikan obligasi
tersebut. Liabiliti luar jangka juga timbul dalam keadaan yang amat jarang sekali di mana terdapatnya liabiliti yang tidak
boleh diiktiraf kerana ia tidak dapat diukur secara andal.
Aset luar jangka adalah aset yang berkemungkinan di mana ia timbul dari peristiwa lalu dan kewujudannya akan
disahkan oleh peristiwa di masa depan yang belum pasti dan di luar kawalan Kumpulan. Kumpulan tidak mengiktiraf aset
luar jangka tetapi mendedahkan kewujudannya di mana aliran masuk faedah ekonomi adalah mungkin, tetapi hakikatnya
tidak dapat dipastikan
(t) Tunai dan setara tunai
Bagi tujuan penyata aliran tunai, tunai dan setara tunai merangkumi tunai di tangan, baki bank, deposit panggilan
dipegang dengan bank, overdraf bank dan pelaburan berkecairan tinggi jangka pendek yang sedia untuk ditukarkan ke
amaun tunai yang diketahui dan tertakluk kepada risiko perubahan nilai yang tidak ketara.
Overdraf bank dimasukkan ke dalam “Pinjaman” dalam liabiliti semasa di dalam lembaran imbangan.
(u) Mata wang pelapor
NOTA-NOTA KEPADA PENYATA KEWANGAN (samb.)
Penyata kewangan dibentangkan dalam Ringgit Malaysia.
bagi tahun kewangan berakhir 31 Disember 2005

2 RINGKASAN DASAR-DASAR PERAKAUNAN PENTING (samb.)
(v) Instrumen kewangan
Keterangan
169
Instrumen kewangan adalah sebarang kontrak yang menghasilkan kedua-dua aset kewangan satu perusahaan dan liabiliti
kewangan atau instrumen ekuiti kewangan satu perusahaan lain.
Aset kewangan ialah sebarang aset yang merupakan tunai, hak berkontrak untuk menerima tunai atau aset kewangan lain
daripada perusahaan lain, hak berkontrak untuk menukar instrumen kewangan dengan perusahaan lain mengikut syarat
yang berpotensi baik, ataupun instrumen ekuiti perusahaan yang lain.
Liabiliti kewangan ialah sebarang liabiliti yang merupakan obligasi berkontrak untuk menghasilkan tunai atau aset
kewangan lain kepada perusahaan lain, atau untuk menukar instrumen kewangan dengan perusahaan lain mengikut
syarat yang tidak berpotensi baik.
Instrumen kewangan yang diiktiraf dalam lembaran imbangan
Instrumen kewangan yang diiktiraf dalam lembaran imbangan merangkumi deposit, tunai dan baki bank, pelaburan,
hutang belum diterima, hutang belum dibayar serta pinjaman. Kaedah pengiktirafan yang diterima pakai untuk
instrumen kewangan yang diiktiraf dalam lembaran imbangan dinyatakan di dalam penyata dasar perakaunan individu
berkaitan setiap perkara.
Aset dan liabiliti kewangan Kumpulan dan Syarikat adalah di dalam mata wang Ringgit Malaysia.
Anggaran nilai saksama bagi tujuan pendedahan
Dalam menentukan nilai saksama instrumen kewangan, Kumpulan menggunakan pelbagai kaedah dan membuat
andaian berdasarkan keadaan pasaran pada setiap tarikh lembaran imbangan. Secara khususnya, nilai saksama aset dan
liabiliti kewangan dianggar dengan mendiskaunkan aliran tunai berkontrak masa depan pada kadar faedah pasaran
semasa yang tersedia bagi Kumpulan untuk instrumen kewangan yang serupa. Nilai saksama instrumen lain ditetapkan
mengikut nilai pasaran pada tarikh lembaran imbangan.
Nilai muka aset kewangan (tolak sebarang anggaran pelarasan kredit) dan liabiliti kewangan dengan tempoh matang
kurang dari satu tahun adalah diandaikan hampir kepada nilai saksamanya.
3 OBJEKTIF DAN DASAR-DASAR PENGURUSAN RISIKO KEWANGAN
Kumpulan terdedah kepada pelbagai risiko kewangan termasuk risiko pertukaran mata wang asing, risiko kadar faedah, risiko
kredit, risiko kecairan dan risiko aliran tunai dalam urusan biasa perniagaan. Objektif keseluruhan pengurusan risiko kewangan
Kumpulan adalah untuk memastikan bahawa Kumpulan dapat mencipta nilai bagi para pemegang sahamnya. Kumpulan
memfokus kepada pasaran kewangan yang tidak teramal dan berusaha untuk meminimumkan kesan buruk kepada prestasi
kewangan Kumpulan. Pengurusan risiko kewangan dijalankan melalui kajian risiko dan sistem kawalan dalaman. Lembaga
Pengarah kerap mengkaji semula risiko-risiko ini bagi memastikan dasar-dasar pengurusan risiko kewangan Kumpulan
dipatuhi.
(i) Risiko pertukaran mata wang asing
Kumpulan tidak terdedah kepada risiko mata wang memandangkan penglibatan Kumpulan dalam urusniaga mata wang
asing adalah minimum.
(ii) Risiko kadar faedah
Pendapatan dan aliran tunai kendalian Kumpulan adalah bebas dari perubahan dalam kadar faedah pasaran. Pendedahan
kadar faedah timbul daripada pinjaman Kumpulan dan diurus menggunakan kadar faedah tetap dan terapung. Kumpulan
sentiasa aktif memantau pinjamannya bagi memastikan Kumpulan menerima manfaat sepenuhnya daripada persekitaran
kendalian.
(iii) Risiko kredit
Tumpuan ke atas risiko kredit yang berhubung dengan penghutang dagangan adalah terhad memandangkan pemilikan
dan hak terhadap hartanah akan berbalik kepada Kumpulan dalam keadaan berlakunya kemungkiran. Pengalaman
Kumpulan yang lalu bagi kutipan daripada penghutang dagangan jatuh dalam peruntukan yang dicatatkan. Disebabkan
faktor-faktor ini, pihak pengurusan percaya tiada risiko kredit tambahan yang melebihi nilai yang disediakan untuk
kerugian kutipan yang sedia wujud dalam penghutang dagangan Kumpulan.
UNITED MALAYAN LAND BHD

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3 OBJEKTIF DAN DASAR-DASAR PENGURUSAN RISIKO KEWANGAN (samb.)
(iv) Risiko kecairan dan aliran tunai
4 HASIL
NOTA-NOTA KEPADA PENYATA KEWANGAN (samb.)
Pengurusan risiko kecairan yang berhemat bermaksud menjaga kecukupan tunai serta ketersediaan dana melalui jumlah
kemudahan kredit yang komited dengan secukupnya. Matlamat Kumpulan ialah untuk mengekalkan fleksibiliti dalam
pembiayaan dengan menyediakan barisan kredit yang komited.
2005 2004
RM’000 RM’000
Kumpulan
Hasil daripada pembangunan hartanah 219,574 168,773
Tolak: Pembatalan jualan (5,782)
–––––––––––––––––––
(4,988)
–––––––––––––––––––
213,792 163,785
Kontrak pembinaan 102 –
Sewaan pajakan kuari 411 559
Sewaan pajakan tanah 30 30
Sewaan dari hartanah 440 450
Pendapatan faedah daripada deposit jangka pendek 30 21
––––––––––––––––––– –––––––––––––––––––
214,805 164,845
================= =================
Syarikat
Pendapatan dividen daripada syarikat subsidiari
Pendapatan faedah daripada deposit jangka pendek dan
23,236 11,620
pendahuluan kepada syarikat subsidiari 4,524 5,333
Peruntukan bagi khidmat pengurusan 5,275 4,260
––––––––––––––––––– –––––––––––––––––––
33,035 21,213
================= =================
5 PERBELANJAAN MANFAAT KAKITANGAN
Kumpulan Syarikat
2005 2004 2005 2004
RM’000 RM’000 RM’000 RM’000
Upah, gaji dan bonus 13,854 10,066 5,121 3,767
Pelan sumbangan persaraan wajib 1,911 1,435 701 518
Manfaat pekerja yang lain 1,444
–––––––––––––––––––
1,046
–––––––––––––––––––
483
–––––––––––––––––––
486
–––––––––––––––––––
17,209 12,547 6,305 4,771
================= ================= ================= =================
Perbelanjaan manfaat kakitangan termasuk ganjaran para Pengarah Eksekutif.
bagi tahun kewangan berakhir 31 Disember 2005
Pada akhir tahun kewangan, terdapat seramai 234 (2004: 193) pekerja di dalam Kumpulan dan 51 (2004: 40) pekerja
di dalam Syarikat.

6 KEUNTUNGAN DARIPADA OPERASI
171
Perkara di bawah telah (dikredit)/dicaj bagi mendapatkan keuntungan daripada operasi:
Kumpulan Syarikat
2005 2004 2005 2004
RM’000 RM’000 RM’000 RM’000
Pendapatan faedah daripada
- deposit jangka pendek (32) (21) (30) (21)
- pendahuluan kepada syarikat subsidiari – – (4,494) (5,312)
- penjualan hartanah siap di bawah skim ansuran (271) (1,072) – –
- lain-lain (1,543) (374) – –
Keuntungan atas pelupusan hartanah, loji dan peralatan
Pendapatan sewa daripada hartanah siap dan
(16) (467) – (205)
hartanah pembangunan (515) (481) – –
Ganjaran juruaudit
Yuran bukan audit berkanun
149 118 35 35
- khidmat nasihat pencukaian dan kerja pematuhan 61 34 8 7
- kerja kawal selia yang lain 12 14 8 8
Kerugian atas pelupusan hartanah, loji dan peralatan
Yuran pengurusan yang telah dibayar dan akan
– 52 – –
dibayar kepada pihak berkaitan 338 236 104 236
================= ================= ================= =================
7 GANJARAN PARA PENGARAH
Jumlah agregat emolumen (tidak termasuk anggaran nilai monetari bagi manfaat barangan) yang diterima dan akan diterima
oleh para Pengarah Syarikat sepanjang tahun kewangan adalah seperti berikut:
Kumpulan Syarikat
2005 2004 2005 2004
RM’000 RM’000 RM’000 RM’000
Pengarah Eksekutif:
- yuran 25 25 25 25
- gaji pokok dan bonus 450 755 450 755
- pelan sumbangan persaraan wajib 68 113 68 113
- emolumen lain 9 17 9 17
––––––––––––––––––– ––––––––––––––––––– ––––––––––––––––––– –––––––––––––––––––
552 910 552 910
––––––––––––––––––– ––––––––––––––––––– ––––––––––––––––––– –––––––––––––––––––
Pengarah Bukan Eksekutif:
- yuran 169 150 169 150
- emolumen lain 60 66 60 66
––––––––––––––––––– ––––––––––––––––––– ––––––––––––––––––– –––––––––––––––––––
229 216 229 216
––––––––––––––––––– ––––––––––––––––––– ––––––––––––––––––– –––––––––––––––––––
781 1,126 781 1,126
================= ================= ================= =================
Anggaran nilai monetari bagi manfaat barangan yang diberi kepada para Pengarah Eksekutif dan para Pengarah Bukan
Eksekutif Syarikat sepanjang tahun kewangan melalui penggunaan aset Syarikat dan peruntukan manfaat lain masing-masing
berjumlah RM20,525 (2004: RM34,425) dan RM22,030 (2004: RM10,100).
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NOTA-NOTA KEPADA PENYATA KEWANGAN (samb.)
7 GANJARAN PARA PENGARAH (samb.)
bagi tahun kewangan berakhir 31 Disember 2005
Para Pengarah Eksekutif Syarikat telah diberikan opsyen ke atas saham biasa di bawah Skim Opsyen Saham Kakitangan (“ESOS”)
mengikut syarat dan peraturan yang sama seperti yang ditawarkan kepada kakitangan lain di dalam Kumpulan (Nota 26).
Butiran tentang opsyen ke atas saham biasa ini yang diberikan kepada Pengarah Eksekutif adalah seperti berikut:
Bilangan opsyen ke atas saham biasa bernilai RM1.00 sesaham
Harga
Tarikh Tarikh langganan/ Pada Pada
ditawarkan luput saham 1.1.2005 Ditawarkan Dilaksana Luput 31.12.2005
RM ’000 ’000 ’000 ’000 ’000
2005
05.09.2003 04.09.2008 1.31 500 – – – 500
–––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––
500 – – – 500
============================================================================================================
Bilangan opsyen ke atas saham biasa bernilai RM1.00 sesaham
Pada Pada
1.1.2004 Ditawarkan Dilaksana Luput 31.12.2004
’000 ’000 ’000 ’000 ’000
2004
05.09.2003 04.09.2008 1.31 500 – – – 500
–––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––
500 – – – 500
============================================================================================================
2005 2004
’000 ’000
Bilangan opsyen ke atas saham biasa yang diletak hak pada tarikh lembaran imbangan 500 500
================= =================
8 KOS KEWANGAN
Kumpulan Syarikat
2005 2004 2005 2004
RM’000 RM’000 RM’000 RM’000
Perbelanjaan faedah ke atas:
- kredit pusingan 789 731 – –
- overdraf bank 431 122 – –
- pinjaman bertempoh 309 387 308 –
- lain-lain 15 – – –
- pendahuluan daripada syarikat subsidiari – – 59 11
––––––––––––––––––– ––––––––––––––––––– ––––––––––––––––––– –––––––––––––––––––
1,544 1,240 367 11
================= ================= ================= =================
9 PERBELANJAAN CUKAI
Kumpulan Syarikat
2005 2004 2005 2004
RM’000 RM’000 RM’000 RM’000
Cukai semasa:
- Cukai Malaysia 5,527 8,845 6,231 3,676
Cukai tertunda (Nota 18) (2,396) 468 630 513
––––––––––––––––––– ––––––––––––––––––– ––––––––––––––––––– –––––––––––––––––––
3,131 9,313 6,861 4,189
================= ================= ================= =================
Cukai semasa
Tahun kewangan semasa
(Terlebih)/terkurang akru dalam tahun kewangan
10,110 9,182 6,171 3,569
sebelumnya (bersih) (4,583) (337) 60 107
––––––––––––––––––– ––––––––––––––––––– ––––––––––––––––––– –––––––––––––––––––
5,527 8,845 6,231 3,676
––––––––––––––––––– ––––––––––––––––––– ––––––––––––––––––– –––––––––––––––––––

9 PERBELANJAAN CUKAI (samb.)
173
Kumpulan Syarikat
2005 2004 2005 2004
RM’000 RM’000 RM’000 RM’000
Cukai tertunda
Asal dan penarikbalikan perbezaan sementara
(Terlebih)/terkurang akru dalam tahun kewangan
(1,002) 119 685 509
sebelumnya (bersih) (1,394) 349 (55) 4
––––––––––––––––––– ––––––––––––––––––– ––––––––––––––––––– –––––––––––––––––––
(2,396) 468 630 513
––––––––––––––––––– ––––––––––––––––––– ––––––––––––––––––– –––––––––––––––––––
3,131 9,313 6,861 4,189
================= ================= ================= =================
Penyesuaian berangka antara purata kadar cukai berkesan Kumpulan dan Syarikat dengan kadar cukai Malaysia adalah seperti
berikut:
Kumpulan Syarikat
2005 2004 2005 2004
% % % %
Kadar cukai Malaysia 28 28 28 28
Kesan cukai bagi:
- perbelanjaan tidak boleh ditolak untuk tujuan cukai 3 2 1 –
- pendapatan tidak tertakluk kepada cukai – (1) – –
- kerugian cukai tahun kewangan semasa yang tidak diiktiraf 10 5 – –
- kadar cukai lebih rendah akibat penyataan semula
kos tanah untuk tujuan cukai (16) (8) – –
- penggunaan kerugian cukai yang tidak diiktiraf sebelumnya – (3) – –
- cukai tertunda (terlebih)/terkurang akru dalam tahun
kewangan sebelumnya
- cukai semasa (terlebih)/terkurang akru dalam tahun
(4) 1 – –
kewangan sebelumnya (14) (1) – 1
- lain-lain 1
–––––––––––––––––––
4
–––––––––––––––––––
–
–––––––––––––––––––
–
–––––––––––––––––––
Purata kadar cukai berkesan 8 27 29 29
================= ================= ================= =================
Termasuk dalam perbelanjaan cukai Kumpulan dan Syarikat ialah penjimatan cukai daripada penggunaan kerugian cukai tahun
semasa, masing-masing berjumlah RM2,658,000 (2004: RM2,310,763) dan RM2,658,000 (2004: RM2,310,763).
Penjimatan cukai ini terbit daripada penggunaan kerugian cukai, daripada satu sumber perniagaan atau pendapatan pelaburan
terhadap keuntungan kena cukai daripada sumber perniagaan yang lain di dalam syarikat yang sama dalam tahun kewangan
yang sama.
10 PENDAPATAN DAN ASET KETARA BERSIH SESAHAM
(a) Pendapatan sesaham
Pendapatan asas sesaham
Pendapatan asas sesaham Kumpulan dikira dengan membahagikan keuntungan bersih bagi tahun kewangan dengan
purata berwajaran bilangan saham biasa yang diterbitkan sepanjang tahun kewangan, tidak termasuk saham biasa yang
diperolehi oleh Syarikat dan disimpan sebagai saham perbendaharaan.
2005 2004
Keuntungan bersih bagi tahun kewangan (RM’000) 29,211 20,565
Purata berwajaran bilangan saham biasa yang diterbitkan (’000) 232,006 232,046
Pendapatan asas sesaham (sen) 12.6 8.9
================= =================
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10 PENDAPATAN DAN ASET KETARA BERSIH SESAHAM (samb.)
(a) Pendapatan sesaham (samb.)
Pendapatan cair sesaham
Pada 31 Disember 2005, Syarikat mempunyai 8,838,100 (2004: 9,647,500) saham biasa belum terbit yang tertunggak di bawah
Skim Opsyen Saham Kakitangan (“ESOS”) untuk kakitangan dan para Pengarah Eksekutif Kumpulan yang berkelayakan.
Selaras dengan peruntukan yang dibuat di bawah piawaian FRS 1332004 “Pendapatan Sesaham” (dulu dikenali sebagai
MASB 13), opsyen ke atas saham biasa boleh mencairkan apabila ia akan mengakibatkan penerbitan saham biasa yang
kurang daripada nilai saksama (ditentukan mengikut harga pasaran saham biasa). Memandangkan harga laksana opsyen
ke atas saham biasa adalah lebih tinggi daripada nilai saksama saham biasa Syarikat bagi tahun kewangan 2005 dan 2004,
opsyen ke atas saham biasa tidak boleh mencairkan. Selaras dengan itu, maklumat tentang pendapatan cair sesaham tidak
dibentangkan di dalam penyata kewangan.
(b) Aset ketara bersih sesaham
Aset ketara bersih sesaham dikira dengan membahagikan aset ketara bersih Kumpulan berjumlah RM746,401,879 (2004:
RM733,970,164) dengan modal saham terbitan sebanyak 231,957,933 saham (yang mana adalah bersih dari 388,700 saham
perbendaharaan) (2004: 232,034,733 saham, [yang mana adalah bersih dari 311,900 saham perbendaharaan]), pada akhir
tahun kewangan.
11 DIVIDEN SESAHAM
NOTA-NOTA KEPADA PENYATA KEWANGAN (samb.)
Dividen yang diisytiharkan dan dicadangkan berhubung saham biasa Kumpulan dan Syarikat bagi tahun kewangan adalah
seperti berikut:
2005 2004
Dividen Jumlah Dividen Jumlah
kasar dividen, bersih kasar dividen, bersih
sesaham 28% cukai sesaham 28% cukai
Sen RM’000 Sen RM’000
Dividen interim diisytiharkan 2.5 4,176 - -
Dividen akhir dicadangkan 5.0
–––––––––––––––––––
8,350
–––––––––––––––––––
7.5
–––––––––––––––––––
12,528
–––––––––––––––––––
7.5 12,526 7.5 12,528
================= ================= ================= =================
Pada Mesyuarat Agung Tahunan (“AGM”) yang akan datang pada 20 Jun 2006, dividen akhir sebanyak 5.0 sen (2004: 7.5 sen) kasar
sesaham biasa atas 231,957,933 saham biasa (yang mana adalah bersih dari 388,700 saham perbendaharaan), tolak 28% cukai
pendapatan, bagi tahun kewangan berakhir 31 Disember 2005 akan dicadangkan untuk kelulusan para pemegang saham.
Dividen akhir bersih ini berjumlah RM8,350,486.
Penyata kewangan ini tidak mencerminkan dividen akhir ini sebagai liabiliti. Dividen akhir akan diakru sebagai liabiliti hanya
selepas diluluskan oleh para pemegang saham pada AGM yang akan datang.
12 HARTANAH, LOJI DAN PERALATAN
bagi tahun kewangan berakhir 31 Disember 2005
Pada Pelupusan/ Pada
1.1.2005 Penambahan hapus kira 31.12.2005
RM’000 RM’000 RM’000 RM’000
Kumpulan
2005
Kos/Penilaian
Tanah pegangan bebas 332,308 – – 332,308
Bangunan 17,042 3 – 17,045
Perabot, kelengkapan dan peralatan 6,727 1,048 (239) 7,536
Kenderaan bermotor 1,621 993 (392) 2,222
Loji dan jentera 20 – – 20
Bangsal kuda dan peralatan ekuestrian 100 – (3) 97
––––––––––––––––––– ––––––––––––––––––– ––––––––––––––––––– –––––––––––––––––––
357,818 2,044 (634) 359,228
––––––––––––––––––– ––––––––––––––––––– ––––––––––––––––––– –––––––––––––––––––

12 HARTANAH, LOJI DAN PERALATAN (samb.)
175
Caj bagi
Pada tahun Pelupusan/ Pada
1.1.2005 kewangan hapus kira 31.12.2005
RM’000 RM’000 RM’000 RM’000
Susutnilai terkumpul
Tanah pegangan bebas – – – –
Bangunan 5,926 842 – 6,768
Perabot, kelengkapan dan peralatan 6,208 561 (239) 6,530
Kenderaan bermotor 1,401 202 (178) 1,425
Loji dan jentera 20 – – 20
Bangsal kuda dan peralatan ekuestrian 100 – (3) 97
––––––––––––––––––– ––––––––––––––––––– ––––––––––––––––––– –––––––––––––––––––
13,655 1,605 (420) 14,840
––––––––––––––––––– ––––––––––––––––––– ––––––––––––––––––– –––––––––––––––––––
Kumpulan
2004
Pada Pelupusan/ Pada
1.1.2004 Penambahan hapus kira Pemindahan* 31.12.2004
RM’000 RM’000 RM’000 RM’000 RM’000
Kos/Penilaian
Tanah pegangan bebas 377,534 – – (45,226) 332,308
Bangunan 17,041 35 (34) – 17,042
Perabot, kelengkapan dan peralatan 6,539 191 (3) – 6,727
Kenderaan bermotor 4,642 – (3,021) – 1,621
Loji dan jentera 20 – – – 20
Bangsal kuda dan peralatan ekuestrian 100
–––––––––––––––––––
–
–––––––––––––––––––
–
–––––––––––––––––––
–
–––––––––––––––––––
100
–––––––––––––––––––
405,876 226 (3,058) (45,226) 357,818
––––––––––––––––––– ––––––––––––––––––– ––––––––––––––––––– ––––––––––––––––––– –––––––––––––––––––
*Pemindahan ke “Tanah dipegang untuk pembangunan hartanah” dan “Kos pembangunan hartanah”.
Caj bagi
Pada tahun Pelupusan/ Pada
1.1.2004 kewangan hapus kira 31.12.2004
RM’000 RM’000 RM’000 RM’000
Susutnilai terkumpul
Tanah pegangan bebas – – – –
Bangunan 5,094 837 (5) 5,926
Perabot, kelengkapan dan peralatan 5,615 596 (3) 6,208
Kenderaan bermotor 3,825 106 (2,530) 1,401
Loji dan jentera 20 – – 20
Bangsal kuda dan peralatan ekuestrian 100
–––––––––––––––––––
–
–––––––––––––––––––
–
–––––––––––––––––––
100
–––––––––––––––––––
14,654 1,539 (2,538) 13,655
––––––––––––––––––– ––––––––––––––––––– ––––––––––––––––––– –––––––––––––––––––
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12 HARTANAH, LOJI DAN PERALATAN (samb.)
Kumpulan
Pada Pada
31.12.2005 31.12.2004
RM’000 RM’000
Nilai buku bersih
Tanah pegangan bebas 332,308 332,308
Bangunan 10,277 11,116
Perabot, kelengkapan dan peralatan 1,006 519
Kenderaan bermotor 797 220
Loji dan jentera – –
Bangsal kuda dan peralatan ekuestrian –
–––––––––––––––––––
–
–––––––––––––––––––
344,388 344,163
================= =================
Syarikat
2005
Pada Pada
1.1.2005 Penambahan Pelupusan 31.12.2005
RM’000 RM’000 RM’000 RM’000
Kos
Perabot, kelengkapan dan peralatan 1,654 238 – 1,892
Kenderaan bermotor 1,035
–––––––––––––––––––
993
–––––––––––––––––––
(343)
–––––––––––––––––––
1,685
–––––––––––––––––––
2,689 1,231 (343) 3,577
––––––––––––––––––– ––––––––––––––––––– ––––––––––––––––––– –––––––––––––––––––
Susutnilai terkumpul
Caj bagi
Pada tahun Pada
1.1.2005 kewangan Pelupusan 31.12.2005
RM’000 RM’000 RM’000 RM’000
Perabot, kelengkapan dan peralatan 1,553 130 – 1,683
Kenderaan bermotor 824
–––––––––––––––––––
200
–––––––––––––––––––
(137)
–––––––––––––––––––
887
–––––––––––––––––––
2,377 330 (137) 2,570
––––––––––––––––––– ––––––––––––––––––– ––––––––––––––––––– –––––––––––––––––––
Syarikat
2004
NOTA-NOTA KEPADA PENYATA KEWANGAN (samb.)
bagi tahun kewangan berakhir 31 Disember 2005
Pada Pada
1.1.2004 Penambahan Pelupusan 31.12.2004
RM’000 RM’000 RM’000 RM’000
Kos
Perabot, kelengkapan dan peralatan 1,623 31 – 1,654
Kenderaan bermotor 2,321
–––––––––––––––––––
–
–––––––––––––––––––
(1,286)
–––––––––––––––––––
1,035
–––––––––––––––––––
3,944 31 (1,286) 2,689
––––––––––––––––––– ––––––––––––––––––– ––––––––––––––––––– –––––––––––––––––––

12 HARTANAH, LOJI DAN PERALATAN (samb.)
177
Caj bagi
Pada tahun Pada
1.1.2004 kewangan Pelupusan 31.12.2004
RM’000 RM’000 RM’000 RM’000
Susutnilai terkumpul
Perabot, kelengkapan dan peralatan 1,465 88 – 1,553
Kenderaan bermotor 1,945 70 (1,191) 824
––––––––––––––––––– ––––––––––––––––––– ––––––––––––––––––– –––––––––––––––––––
3,410 158 (1,191) 2,377
––––––––––––––––––– ––––––––––––––––––– ––––––––––––––––––– –––––––––––––––––––
Pada Pada
31.12.2005 31.12.2004
RM’000 RM’000
Syarikat
Nilai buku bersih
Perabot, kelengkapan dan peralatan 209 101
Kenderaan bermotor 798 211
––––––––––––––––––– –––––––––––––––––––
1,007 312
================= =================
Tanah pegangan bebas Kumpulan telah dinilai semula oleh para Pengarah dalam tahun 1990 berdasarkan penilaian yang dibuat
oleh sebuah firma penilai profesional bebas dengan menggunakan kaedah perbandingan. Nilai buku bagi tanah pegangan bebas
telah dilaraskan untuk mencerminkan penilaian semula dan lebihan penilaian semula yang terbit darinya telah dikreditkan ke
rizab nilai semula.
Sesetengah bahagian tanah pegangan bebas Kumpulan telah dinilai semula sekali lagi oleh para Pengarah dalam tahun 1996
berdasarkan penilaian yang dibuat oleh firma penilai profesional bebas menggunakan asas penilaian pasaran terbuka dan
sebagaimana yang diluluskan oleh Suruhanjaya Sekuriti. Nilai buku tanah pegangan bebas telah dilaraskan untuk
mencerminkan penilaian semula serta lebihan penilaian semula yang terbit darinya telah dikreditkan ke rizab nilai semula.
Kumpulan
2005 2004
RM’000 RM’000
Tanah pegangan bebas terdiri daripada yang berikut:
Pada kos atau penilaian
Tanah, pada penilaian 1990 20,545 20,545
Tanah, pada penilaian 1996 304,858 304,858
Perbelanjaan pembangunan, pada kos 6,905 6,905
––––––––––––––––––– –––––––––––––––––––
332,308 332,308
================= =================
Sekiranya tanah pegangan bebas telah ditetapkan selaras dengan kaedah kos sejarah, kos tanah pegangan bebas Kumpulan
adalah RM19,051,183 (2004: RM19,051,183).
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178
NOTA-NOTA KEPADA PENYATA KEWANGAN (samb.)
13 PELABURAN DALAM SYARIKAT SUBSIDIARI
Syarikat
2005 2004
RM’000 RM’000
Saham tidak disebut harga
- Pada kos 17,650 12,500
- Pada penilaian para Pengarah 584,541
–––––––––––––––––––
584,541
–––––––––––––––––––
602,191 597,041
================= =================
Pelaburan Syarikat dalam syarikat subsidiari dinyatakan pada penilaian berdasarkan nilai aset ketara bersih syarikat subsidiari
pada 31 Disember 2001.
Butiran syarikat subsidiari, yang kesemuanya diperbadankan di Malaysia, adalah seperti berikut:
Kepentingan efektif Kumpulan
Nama syarikat Aktiviti utama 2005 2004
% %
@ Seri Alam Properties Sdn Bhd Pembangunan hartanah 100 100
* UM Leisure Sdn Bhd Perniagaan am 100 100
UM Land Assets Sdn Bhd Pelaburan hartanah 100 100
UM Land Bena Sdn Bhd Pembangunan hartanah dan
aktiviti berkaitan
100 100
Country Equity Sdn Bhd Pegangan pelaburan 100 100
* UM Development Sdn Bhd Perniagaan am 100 100
UM Residences Sdn Bhd Pembangunan pangsapuri
khidmat
100 100
Suasana Sentral Two Sdn Bhd Pembangunan hartanah
dan aktiviti berkaitan
70 70
Dynasty View Sdn Bhd Pembangunan hartanah
dan aktiviti berkaitan
100 100
* Alpine Return Sdn Bhd Pembangunan hartanah
dan aktiviti berkaitan
100 100
Syarikat subsidiari Seri Alam Properties Sdn Bhd
* PMS Services Sdn Bhd Pengurusan projek 100 100
* Seri Alam Hotel Resort Sdn Bhd Perniagaan am 100 100
Seri Alam Leisure Sdn Bhd Pegangan pelaburan 100 100
Syarikat subsidiari Seri Alam Leisure Sdn Bhd
Seri Alam Golf & Equestrian Club Operasi kelab rekreasi 100 100
Sdn Bhd dan aktiviti berkaitan
Syarikat subsidiari Country Equity Sdn Bhd
Bangi Heights Development Sdn Bhd Pembangunan hartanah dan
pelaburan hartanah
70 70
================= =================
@ Syarikat subsidiari yang disatukan menggunakan kaedah percantuman perakaunan.
* Syarikat subsidiari ini belum memulakan operasi.
bagi tahun kewangan berakhir 31 Disember 2005

14 PELABURAN DALAM SYARIKAT BERSEKUTU
179
Kumpulan
2005 2004
RM’000 RM’000
Saham tidak disebut harga, pada kos 6,240 6,240
Bahagian perkongsian kerugian selepas pengambilalihan (3,485) (3,493)
Muhibah atas pengambilalihan dihapus kira terhadap rizab modal (7)
–––––––––––––––––––
(7)
–––––––––––––––––––
2,748 2,740
================= =================
Diwakili oleh:
Bahagian perkongsian aset ketara bersih 2,748 2,740
================= =================
Butiran tentang syarikat bersekutu, yang diperbadankan di Malaysia, adalah seperti berikut:
Kepentingan efektif Kumpulan
Nama syarikat Aktiviti utama 2005 2004
% %
Ipjora Holdings Sdn Bhd Pembangunan, pembinaan, 40 40
pemilikan dan pengendalian
pangsapuri khidmat
================= =================
15 PELABURAN LAIN
Kumpulan Syarikat
2005 2004 2005 2004
RM’000 RM’000 RM’000 RM’000
Saham tidak disebut harga, pada kos 9 9 – –
Bon subordinat tidak disebut harga, pada kos 2,000
–––––––––––––––––––
–
–––––––––––––––––––
2,000
–––––––––––––––––––
–
–––––––––––––––––––
2,009 9 2,000 –
================= ================= ================= =================
Nilai saksama saham yang tidak disebut harga dianggar berdasarkan nilai aset ketara bersih penerima pelaburan. Para Pengarah
berpendapat nilai saksama pelaburan ini tidak berbeza secara ketara daripada kos yang dinyatakan di dalam penyata kewangan
pada tarikh lembaran imbangan.
Nilai saksama bon subordinat yang tidak disebut harga pada akhir tahun kewangan adalah lebih kurang sama dengan jumlah
bawaan.
16 TANAH DIPEGANG UNTUK PEMBANGUNAN HARTANAH
Kumpulan
2005 2004
RM’000 RM’000
Pada awal tahun kewangan 206,985 111,860
Pindahan daripada hartanah, loji dan peralatan – 12,411
Pindahan bersih kepada kos pembangunan hartanah (28,531) (46,608)
Pengambilalihan tanah –
–––––––––––––––––––
129,322
–––––––––––––––––––
Pada akhir tahun kewangan 178,454 206,985
================= =================
Tanah dipegang untuk pembangunan hartanah dengan nilai buku RM152,015,900 (2004: RM189,360,942) telah dicagarkan
sebagai sekuriti untuk pinjaman (Nota 25).
UNITED MALAYAN LAND BHD

180
17 PENGHUTANG DAGANGAN JANGKA PANJANG
Kumpulan
2005 2004
RM’000 RM’000
Semasa 6,101 15,767
Lebih dari 1 tahun tapi tidak melebihi 2 tahun 4,004 3,603
Lebih dari 2 tahun tapi tidak melebihi 5 tahun – 171
Bukan semasa 4,004 3,774
––––––––––––––––––– –––––––––––––––––––
10,105 19,541
================= =================
Penghutang dagangan jangka panjang ialah penerimaan masa depan yang didiskaunkan dan terbit daripada penjualan hartanah
siap di bawah skim ansuran dan penjualan tanah di bawah skim pembayaran tertunda. Hasil daripada jualan hartanah siap di
bawah skim ansuran akan diterima dalam tempoh empat hingga tujuh tahun. Hasil daripada jualan tanah di bawah skim
pembayaran tertunda akan diterima dalam tempoh dua tahun. Ansuran yang akan diterima dalam tempoh dua belas bulan
berjumlah RM6,101,309 (2004: RM15,766,946) telah dimasukkan ke dalam “Penghutang dagangan dan lain-lain” di dalam aset semasa.
Tiada baki yang terhutang daripada para Pengarah serta pihak berkaitan yang dimasukkan ke dalam penghutang dagangan
jangka panjang Kumpulan pada akhir tahun kewangan.
18 CUKAI TERTUNDA
NOTA-NOTA KEPADA PENYATA KEWANGAN (samb.)
bagi tahun kewangan berakhir 31 Disember 2005
Aset dan liabiliti cukai tertunda diimbangi apabila terdapat hak perundangan yang boleh dikuatkuasakan untuk menolak aset
cukai semasa terhadap liabiliti cukai semasa dan apabila cukai tertunda ini berkaitan dengan pihak berkuasa cukai yang sama.
Nilai berikut, yang ditetapkan selepas imbangan sesuai, dinyatakan di dalam lembaran imbangan:
Kumpulan Syarikat
2005 2004 2005 2004
RM’000 RM’000 RM’000 RM’000
Aset cukai tertunda:
- tertakluk kepada cukai pendapatan 846 370 – –
- tertakluk kepada cukai keuntungan hartanah (“RPGT”) 17,015 14,288 – –
Liabiliti cukai tertunda:
17,861 14,658 – –
- tertakluk kepada cukai pendapatan (16,604) (20,322) (652) (22)
- tertakluk kepada cukai keuntungan hartanah (“RPGT”) (16,184) (16,184) – –
(32,788)
–––––––––––––––––––
(36,506)
–––––––––––––––––––
(652)
–––––––––––––––––––
(22)
–––––––––––––––––––
(14,927) (21,848) (652) (22)
================= ================= ================= =================
Pada awal tahun kewangan:
Dikredit/(dicaj) ke penyata pendapatan (Nota 9):
(21,848) (23,599) (22) 491
- hartanah, loji dan peralatan 51 40 73 (13)
- tanah dipegang untuk pembangunan hartanah 1,155 2,625 – –
- kos pembangunan hartanah (2,140) (2,618) – –
- permodalan faedah 102 93 – –
- penghutang (130) (412) (1,633) –
- pemiutang 312 (64) 44 (38)
- faedah belum terima 946 (515) 886 (462)
- kerugian cukai 2,100 383 – –
––––––––––––––––––– ––––––––––––––––––– ––––––––––––––––––– –––––––––––––––––––
2,396 (468) (630) (513)
Penarikbalikan cukai tertunda kepada rizab nilai semula – 2,219 – –
RPGT terkurang akru dalam tahun kewangan sebelumnya 4,525 – – –
––––––––––––––––––– ––––––––––––––––––– ––––––––––––––––––– –––––––––––––––––––
Pada akhir tahun kewangan (14,927) (21,848) (652) (22)
================= ================= ================= =================

18 CUKAI TERTUNDA (samb.)
181
Kumpulan Syarikat
2005 2004 2005 2004
RM’000 RM’000 RM’000 RM’000
Tertakluk kepada cukai pendapatan:
Aset cukai tertunda (sebelum imbangan):
- hartanah, loji dan peralatan 794 722 672 599
- kerugian cukai 2,674 574 – –
- penghutang 402 532 83 83
- pemiutang 815 503 226 182
––––––––––––––––––– ––––––––––––––––––– ––––––––––––––––––– –––––––––––––––––––
4,685 2,331 981 864
Imbangan (3,839) (1,961) (981) (864)
––––––––––––––––––– ––––––––––––––––––– ––––––––––––––––––– –––––––––––––––––––
Aset cukai tertunda (selepas imbangan) 846 370 – –
================= ================= ================= =================
Liabiliti cukai tertunda (sebelum imbangan):
- hartanah, loji dan peralatan (25) (4) – –
- tanah dipegang untuk pembangunan hartanah (9,948) (11,103) – –
- kos pembangunan hartanah (5,995) (5,653) – –
- permodalan faedah (4,475) (4,577) – –
- penghutang – – (1,633) –
- faedah belum terima – (946) – (886)
––––––––––––––––––– ––––––––––––––––––– ––––––––––––––––––– –––––––––––––––––––
(20,443) (22,283) (1,633) (886)
Imbangan 3,839 1,961 981 864
––––––––––––––––––– ––––––––––––––––––– ––––––––––––––––––– –––––––––––––––––––
Liabiliti cukai tertunda (selepas imbangan) (16,604) (20,322) (652) (22)
================= ================= ================= =================
Tertakluk kepada RPGT:
Aset cukai tertunda:
- kos pembangunan hartanah 17,015 14,288 – –
================= ================= ================= =================
Liabiliti cukai tertunda:
- hartanah, loji dan peralatan (16,184) (16,184) – –
================= ================= ================= =================
Jumlah kerugian cukai belum guna (tanpa tarikh luput) yang mana tidak ada aset cukai tertunda diiktiraf dalam lembaran
imbangan adalah seperti berikut:
Kumpulan Syarikat
2005 2004 2005 2004
RM’000 RM’000 RM’000 RM’000
Kerugian cukai 40,137 27,684 – –
================= ================= ================= =================
19 HARTANAH SIAP
Hartanah siap dengan nilai buku RM35,289,050 (2004: RM16,807,043) telah dicagarkan sebagai sekuriti untuk pinjaman (Nota 25).
UNITED MALAYAN LAND BHD

182
NOTA-NOTA KEPADA PENYATA KEWANGAN (samb.)
20 KOS PEMBANGUNAN HARTANAH
bagi tahun kewangan berakhir 31 Disember 2005
Kumpulan
2005 2004
RM’000 RM’000
Pada awal tahun kewangan
Tanah pegangan bebas - pada kos 85,777 30,084
- pada penilaian 78,393 17,026
Kos pembangunan ditanggung 295,143 271,926
Kos terkumpul dicaj ke penyata pendapatan (68,029)
–––––––––––––––––––
(55,487)
–––––––––––––––––––
391,284 263,549
================= =================
Kos ditanggung dalam tahun kewangan
Tanah diperolehi – 41,085
Kos pembangunan ditanggung 166,536 89,915
Pindahan dari hartanah, loji dan peralatan – 32,815
Pindahan bersih dari tanah yang dipegang untuk pembangunan hartanah 28,531 46,608
Pindahan ke hartanah siap (13,495) (13,117)
Kos terkumpul dicaj ke penyata pendapatan (141,008) (69,571)
––––––––––––––––––– –––––––––––––––––––
40,564 127,735
================= =================
Pada akhir tahun kewangan
Tanah pegangan bebas - pada kos 95,801 85,777
- pada penilaian 72,966 78,393
Kos pembangunan ditanggung 348,101 295,143
Kos terkumpul dicaj ke penyata pendapatan (85,020) (68,029)
––––––––––––––––––– –––––––––––––––––––
431,848 391,284
================= =================
Tanah pegangan bebas pada penilaian telah dipindahkan dari “Hartanah, loji dan peralatan” ke “Kos pembangunan hartanah”
pada nilai bawaannya. Para Pengarah telah menggunakan peruntukan peralihan yang dikeluarkan oleh Lembaga Piawaian
Perakaunan Malaysia melalui penerimapakaian piawaian FRS 1162004 “Hartanah, Loji dan Peralatan” (dulu dikenali sebagai
MASB 15), yang membolehkan aset-aset ini dinyatakan mengikut penilaian mereka dalam tahun 1990 dan 1996. Selaras dengan
ini, nilai bawaan belum dikemaskini.
Termasuk di dalam kos pembangunan ditanggung dalam tahun kewangan ialah permodalan faedah yang berjumlah
RM10,553,962 (2004: RM3,548,130).
Kos pembangunan hartanah dengan nilai buku RM116,083,329 (2004: RM85,549,303) telah dicagarkan sebagai sekuriti untuk
pinjaman (Nota 25).

21 PENGHUTANG DAGANGAN DAN LAIN-LAIN
183
Kumpulan Syarikat
2005 2004 2005 2004
RM’000 RM’000 RM’000 RM’000
Penghutang dagangan 70,265 68,340 297 297
Tolak: Elaun hutang ragu (10,234)
–––––––––––––––––––
(11,718)
–––––––––––––––––––
(297)
–––––––––––––––––––
(297)
–––––––––––––––––––
60,031 56,622 – –
––––––––––––––––––– ––––––––––––––––––– ––––––––––––––––––– –––––––––––––––––––
Lain-lain belum terima 5,648 5,716 6,550 56
Tolak: Elaun hutang ragu (1,382) (1,282) – –
––––––––––––––––––– ––––––––––––––––––– ––––––––––––––––––– –––––––––––––––––––
4,266 4,434 6,550 56
––––––––––––––––––– ––––––––––––––––––– ––––––––––––––––––– –––––––––––––––––––
Jumlah dihutang oleh syarikat subsidiari – – 161,720 155,100
Jumlah dihutang oleh syarikat berkaitan 16 4 – –
Deposit 3,444 3,528 176 591
Prabayaran 480 138 423 44
Bil terakru berhubung pembangunan hartanah 15,344 7,435 – –
––––––––––––––––––– ––––––––––––––––––– ––––––––––––––––––– –––––––––––––––––––
19,284 11,105 162,319 155,735
––––––––––––––––––– ––––––––––––––––––– ––––––––––––––––––– –––––––––––––––––––
83,581 72,161 168,869 155,791
================= ================= ================= =================
Termasuk di dalam penghutang dagangan Kumpulan ialah baki dihutang (kepada)/oleh para Pengarah seperti berikut:
Kumpulan
2005 2004
RM’000 RM’000
Jumlah dihutang (kepada)/oleh para Pengarah (5) 101
================= =================
Syarat kredit bagi penghutang dagangan menjangkau antara 7 hingga 365 hari. Termasuk dalam penghutang dagangan adalah
jumlah yang dihutang oleh seorang pembeli tanah di bawah skim pembayaran tertunda, yang telah diberi syarat kredit selama
365 hari menurut syarat-syarat perjanjian jual beli.
22 DEPOSIT, BAKI BANK DAN TUNAI
Kumpulan Syarikat
2005 2004 2005 2004
RM’000 RM’000 RM’000 RM’000
Baki bank dan tunai
Baki bank di bawah Akaun Pembangunan
13,982 3,894 6,574 881
Perumahan (“HDA”) 32,187 14,195 – –
Baki bank di bawah dana terikat 1,416
–––––––––––––––––––
–
–––––––––––––––––––
–
–––––––––––––––––––
–
–––––––––––––––––––
47,585 18,089 6,574 881
================= ================= ================= =================
Kadar faedah purata berwajaran berkesan bagi baki bank pada tarikh lembaran imbangan adalah seperti berikut:
Kumpulan Syarikat
2005 2004 2005 2004
% % % %
Baki bank
Baki bank di bawah Akaun Pembangunan
0.85 0.30 1.98 1.34
Perumahan (“HDA”) 2.02 1.97 – –
================= ================= ================= =================
Baki bank ialah pegangan deposit panggilan dengan bank.
UNITED MALAYAN LAND BHD

184
22 DEPOSIT, BAKI BANK DAN TUNAI (samb.)
Baki bank syarikat subsidiari di bawah Akaun Pembangunan Perumahan tidak bebas diremitkan kepada Syarikat sehingga Sijil
Layak Menduduki dikeluarkan bagi setiap pembangunan perumahan serta dengan kelulusan Pegawai Perumahan selepas
menolak jumlah wang tertentu seperti yang ditetapkan dalam Akta Pembangunan Perumahan (Kawalan dan Perlesenan) 1966,
Peraturan Pemaju Perumahan (Akaun Pembangunan Perumahan) (Pindaan) 2002, Peraturan 9.
Dana terikat, yang diwujudkan menurut syarat-syarat di dalam perjanjian pinjaman, mewakili deposit dengan bank yang akan
digunakan untuk membayar balik pinjaman bertempoh dan pinjaman penyambung syarikat subsidiari.
23 PEMIUTANG DAGANGAN DAN LAIN-LAIN
Kumpulan Syarikat
2005 2004 2005 2004
RM’000 RM’000 RM’000 RM’000
Pemiutang dagangan 40,214 19,162 – –
Dagangan terakru 26,079 19,271 – –
Jumlah dihutang kepada syarikat subsidiari – – 1,492 –
Jumlah dihutang kepada pihak berkaitan 2 236 2 236
Liabiliti senarai gaji 2,958 2,108 807 780
Cukai keuntungan hartanah akan dibayar 1,800 6,466 – –
Bil berperingkat berhubung pembangunan hartanah – 5,363 – –
Pemiutang dan terakru yang lain 8,688
–––––––––––––––––––
8,462
–––––––––––––––––––
816
–––––––––––––––––––
462
–––––––––––––––––––
79,741 61,068 3,117 1,478
================= ================= ================= =================
Syarat kredit pemiutang dagangan yang diberikan kepada Kumpulan adalah berbeza-beza dari tidak ada kredit sehingga ke 60
hari.
Jumlah yang dihutang kepada syarikat subsidiari, UM Residences Sdn Bhd, adalah tanpa cagaran dan tidak mempunyai tempoh
pembayaran balik yang tetap. Purata kadar faedah berwajaran pada akhir tahun kewangan adalah 7.25% setahun.
Jumlah yang dihutang kepada pihak-pihak berkaitan, CapitaLand Residential Ltd, Tradewinds Corporation Berhad, Tradewinds
Travel & Tours Sdn Bhd dan Chee Tat Holdings (S) Pte Ltd adalah tanpa cagaran, tanpa faedah dan tidak mempunyai tempoh
pembayaran balik yang tetap.
24 PERUNTUKAN
NOTA-NOTA KEPADA PENYATA KEWANGAN (samb.)
bagi tahun kewangan berakhir 31 Disember 2005
Kumpulan
2005 2004
RM’000 RM’000
Kos pembangunan hartanah
Pada awal tahun kewangan 20,777 21,459
Peruntukan bagi kos pembangunan hartanah 950 3,483
Digunakan dalam tahun kewangan
Penarikbalikan peruntukan yang tidak digunakan ke:
– (2,512)
- kos pembangunan yang diiktiraf sebagai perbelanjaan (10,411) (1,653)
- hartanah siap dan kos pembangunan hartanah (9,618) –
- dagangan terakru (748) –
(20,777) (1,653)
––––––––––––––––––– –––––––––––––––––––
Pada akhir tahun kewangan 950 20,777
================= =================
Ini mewakili kos pembangunan yang dianggar akan ditanggung. Peruntukan ini akan digunakan apabila aktiviti pembangunan
yang ditetapkan bermula.
Penarikbalikan peruntukan yang tidak digunakan dalam tahun kewangan adalah disebabkan pertukaran rancangan masa
depan bagi aktiviti pembangunan yang telah ditetapkan.

25 PINJAMAN
Semasa
185
Kumpulan Syarikat
2005 2004 2005 2004
RM’000 RM’000 RM’000 RM’000
Dicagar
Overdraf bank 15,915 8,060 – –
Kredit pusingan 106,557 100,675 – –
Pinjaman bertempoh 27,475
–––––––––––––––––––
30,400
–––––––––––––––––––
–
–––––––––––––––––––
–
–––––––––––––––––––
149,947 139,135 – –
––––––––––––––––––– ––––––––––––––––––– ––––––––––––––––––– –––––––––––––––––––
Bukan semasa
Dicagar
Pinjaman penyambung 3,073 – – –
Pinjaman bertempoh 89,600 89,600 – –
Tidak dicagar
Pinjaman bertempoh 20,000 – 20,000 –
––––––––––––––––––– ––––––––––––––––––– ––––––––––––––––––– –––––––––––––––––––
112,673 89,600 20,000 –
––––––––––––––––––– ––––––––––––––––––– ––––––––––––––––––– –––––––––––––––––––
Jumlah
Overdraf bank 15,915 8,060 – –
Kredit pusingan 106,557 100,675 – –
Pinjaman penyambung 3,073 – – –
Pinjaman bertempoh 137,075 120,000 20,000 –
––––––––––––––––––– ––––––––––––––––––– ––––––––––––––––––– –––––––––––––––––––
262,620 228,735 20,000 –
================= ================= ================= =================
Pinjaman dicagar oleh yang berikut:
Kumpulan
2005 2004
RM’000 RM’000
Tanah yang dipegang untuk pembangunan hartanah (Nota 16) 152,016 189,361
Hartanah siap (Nota 19) 35,289 16,807
Kos pembangunan hartanah (Nota 20) 116,083
–––––––––––––––––––
85,549
–––––––––––––––––––
303,388 291,717
================= =================
Kadar faedah purata berwajaran Jumlah nilai Profil matang
Kumpulan pada tarikh lembaran imbangan bawaan < 1 tahun 1 - 5 tahun > 5 tahun
% RM’000 RM’000 RM’000 RM’000
2005
Overdraf bank 7.59 15,915 15,915 – –
Kredit pusingan 4.80 106,557 106,557 – –
Pinjaman bertempoh 7.25 27,475 27,475 – –
Pinjaman penyambung 5.35 3,073 – 3,073 –
Pinjaman bertempoh 5.60 89,600 – 89,600 –
Pinjaman bertempoh 6.13 20,000
–––––––––––––––––––
–
–––––––––––––––––––
20,000
–––––––––––––––––––
–
–––––––––––––––––––
262,620 149,947 112,673 –
================= ================= ================= =================
UNITED MALAYAN LAND BHD

186
25 PINJAMAN (samb.)
Kadar faedah purata berwajaran Jumlah nilai Profil matang
Kumpulan pada tarikh lembaran imbangan bawaan < 1 tahun 1 - 5 tahun > 5 tahun
% RM’000 RM’000 RM’000 RM’000
2004
Overdraf bank 7.25 8,060 8,060 – –
Kredit pusingan 4.41 100,675 100,675 – –
Pinjaman bertempoh 7.00 30,400 30,400 – –
Pinjaman bertempoh 5.30 89,600 – 67,200 22,400
––––––––––––––––––– ––––––––––––––––––– ––––––––––––––––––– –––––––––––––––––––
228,735 139,135 67,200 22,400
Syarikat
================= ================= ================= =================
2005
Pinjaman bertempoh 6.13 20,000 – 20,000 –
================= ================= ================= =================
Pendedahan bersih pinjaman Kumpulan dan Syarikat kepada perubahan kadar faedah dan tempoh di mana pinjaman
diletakkan harga semula, adalah seperti berikut:
Jumlah Kadar faedah Kadar faedah
Kumpulan Kadar faedah purata berwajaran nilai terapung tetap
pada tarikh lembaran imbangan bawaan < 1 tahun 1 - 5 tahun
% RM’000 RM’000 RM’000
2005
Overdraf bank 7.59 15,915 15,915 –
Kredit pusingan 4.80 106,557 106,557 –
Pinjaman bertempoh 7.25 27,475 27,475 –
Pinjaman penyambung 5.35 3,073 3,073 –
Pinjaman bertempoh 5.60 89,600 89,600 –
Pinjaman bertempoh 6.13 20,000 – 20,000
––––––––––––––––––– ––––––––––––––––––– –––––––––––––––––––
262,620 242,620 20,000
================= ================= =================
2004
Overdraf bank 7.25 8,060 8,060 –
Kredit pusingan 4.41 100,675 100,675 –
Pinjaman bertempoh 7.00 30,400 30,400 –
Pinjaman bertempoh 5.30 89,600 89,600 –
––––––––––––––––––– ––––––––––––––––––– –––––––––––––––––––
228,735 228,735 –
================= ================= =================
Syarikat
NOTA-NOTA KEPADA PENYATA KEWANGAN (samb.)
bagi tahun kewangan berakhir 31 Disember 2005
2005
Pinjaman bertempoh 6.13 20,000 – 20,000
================= ================= =================
Pinjaman bertempoh Kumpulan dan Syarikat yang tidak dicagar sebanyak RM20 juta mewakili pinjaman bercagar utama.
Pinjaman bertempoh ini tertakluk kepada kadar faedah tetap sebanyak 6.13% setahun dan harus dibayar balik sekaligus pada
September 2010. Nilai saksama pinjaman jangka panjang ini pada tarikh lembaran imbangan adalah RM19,358,000. Nilai saksama
dianggar berdasarkan aliran tunai berkontrak masa depan didiskaunkan pada kadar faedah sebanyak 6.90%.
Nilai bawaan bagi semua pinjaman lain Kumpulan pada tarikh lembaran imbangan adalah lebih kurang sama dengan nilai
saksama mereka.

26 MODAL SAHAM
187
Kumpulan dan Syarikat
2005 2004
RM’000 RM’000
Dibenarkan:
Saham biasa bernilai RM1.00 sesaham, pada awal dan akhir tahun kewangan 500,000 500,000
================= =================
Diterbitkan dan dibayar penuh:
Saham biasa bernilai RM1.00 sesaham
Pada awal tahun kewangan 232,347 232,346
Diterbitkan sepanjang tahun kewangan – 1
––––––––––––––––––– –––––––––––––––––––
Pada akhir tahun kewangan 232,347 232,347
================= =================
SKIM OPSYEN SAHAM KAKITANGAN (“ESOS”)
Pada 5 September 2003, Syarikat telah melaksanakan Skim Opsyen Saham Kakitangan (“ESOS”) untuk kakitangan serta para
Pengarah Eksekutif Kumpulan yang berkelayakan. ESOS ini berkuatkuasa selama 5 tahun dari tarikh pelaksanaannya sehingga
tamat tempoh pada 4 September 2008.
ESOS ini telah diluluskan oleh para pemegang saham di Mesyuarat Agung Luar Biasa yang diadakan pada 25 Jun 2003.
Ciri-ciri utama ESOS ini adalah seperti berikut:
(a) Jumlah maksima saham biasa baru Syarikat yang tersedia di bawah skim tersebut tidak boleh melebihi 10% dalam agregat
modal saham diterbitkan dan berbayar Syarikat pada satu-satu masa;
(b) Tertakluk kepada kriteria kelayakan yang ditetapkan oleh Jawatankuasa Opsyen, kakitangan yang berkelayakan adalah
layak menyertai skim tersebut;
(c) Opsyen tidak akan diberikan kepada mana-mana Pengarah Eksekutif Syarikat kecuali pemberian khusus opsyen ke atas
saham biasa kepada Pengarah Eksekutif itu telahpun diluluskan sebelumnya oleh para pemegang saham Syarikat di
dalam mesyuarat agung;
(d) Jumlah maksima saham biasa baru Syarikat yang mungkin ditawarkan dan diperuntukkan kepada kakitangan yang
berkelayakan akan ditentukan mengikut budi bicara Jawatankuasa Opsyen dengan menimbangkan prestasi, kekananan
dan tempoh khidmat kakitangan yang berkelayakan itu. Peruntukan kepada Pengarah Eksekutif yang berkelayakan serta
pihak pengurusan kanan tidak boleh melebihi 50% dalam agregat saham biasa baru Syarikat yang tersedia di bawah skim.
Tidak lebih daripada 10% saham biasa baru Syarikat yang tersedia di bawah skim ini akan diperuntukkan kepada manamana
kakitangan yang berkelayakan, yang mana, sama ada secara berseorangan atau secara kolektif, melalui sekutunya
(seperti yang ditetapkan dalam Akta Syarikat, 1965), memegang 20% atau lebih modal diterbitkan dan berbayar Syarikat;
(e) Harga yang berhak dilanggan oleh kakitangan yang berkelayakan bagi setiap saham biasa baru Syarikat akan ditentukan
oleh Jawatankuasa Opsyen berdasarkan harga pasaran purata berwajaran saham biasa Syarikat bagi 5 hari sejurus sebelum
Tarikh Tawaran opsyen ke atas saham biasa, dengan diskaun tidak melebihi 10%, atau pada nilai tara saham biasa Syarikat,
yang mana lebih tinggi;
(f) Opsyen ke atas saham biasa yang ditawarkan mesti dilaksanakan dalam tempoh lima tahun dari Tarikh Tawaran opsyen
ke atas saham biasa kepada setiap kakitangan atau sebelum tamat tempoh ESOS, yang akan terus berkuatkuasa dalam
tempoh lima tahun dari 5 September 2003 (tarikh opsyen ke atas saham biasa pertama kali ditawarkan kepada kakitangan
yang berkelayakan) tertakluk kepada ESOS tersebut tidak dilanjutkan untuk tambahan 5 tahun;
(g) Saham biasa baru Syarikat yang akan diperuntukkan dengan langganan sebarang opsyen ke atas saham biasa yang
ditawarkan semasa peruntukan dan terbitan, bertaraf pari passu dalam semua aspek dengan saham biasa Syarikat yang
sedia ada. Saham biasa baru Syarikat yang diperuntukan tidak berhak ke atas sebarang dividen, hak, peruntukan dan/atau
pengagihan lain kecuali saham biasa baru Syarikat tersebut memenuhi syarat-syarat yang ditetapkan dalam Peraturan
Kecil ESOS.
UNITED MALAYAN LAND BHD

188
26 MODAL SAHAM (samb.)
SKIM OPSYEN SAHAM KAKITANGAN (“ESOS”) (samb.)
Pergerakan di sepanjang tahun kewangan dalam bilangan opsyen ke atas saham biasa Syarikat adalah seperti berikut:
2005 2004
Harga Opsyen Harga Opsyen
pada RM1.31 pada RM1.31
sesaham sesaham
’000 ’000
Pada awal tahun kewangan 9,648 12,364
Langganan – (1)
Luput (810)
–––––––––––––––––––
(2,715)
–––––––––––––––––––
Pada akhir tahun kewangan 8,838 9,648
================= =================
2005 2004
’000 ’000
Bilangan opsyen ke atas saham biasa yang diberi hak pada akhir tahun kewangan 8,838 9,648
================= =================
SAHAM PERBENDAHARAAN
NOTA-NOTA KEPADA PENYATA KEWANGAN (samb.)
bagi tahun kewangan berakhir 31 Disember 2005
Sepanjang tahun kewangan, Syarikat telah membeli balik sahamnya sebanyak 76,800 (2004: 21,900) saham biasa pada harga
purata lebih kurang RM0.95 (2004: RM1.10) sesaham dari pasaran terbuka Bursa Malaysia Sekuriti. Belian balik ini telah dibiayai
melalui dana dalaman. Saham yang dibeli balik ini disimpan sebagai saham perbendaharaan seperti yang dibenarkan di bawah
Seksyen 67A Akta Syarikat, 1965. Tiada satupun dari saham perbendaharaan ini yang telah dijual.
Pada 31 Disember 2005, bilangan saham tertunggak dalam terbitan dan berbayar penuh ialah 231,957,933 (bersih dari 388,700
saham perbendaharaan) (2004: 232,034,733 [bersih dari 311,900 saham perbendaharaan]) saham biasa bernilai RM1.00 sesaham.

189
27 R I ZAB
Kumpulan Syarikat
2005 2004 2005 2004
RM’000 RM’000 RM’000 RM’000
Tidak boleh diagihkan
Premium saham 60,428 60,428 60,428 60,428
Rizab nilai semula 240,745 244,969 385,808 385,808
––––––––––––––––––– ––––––––––––––––––– ––––––––––––––––––– –––––––––––––––––––
301,173 305,397 446,236 446,236
––––––––––––––––––– ––––––––––––––––––– ––––––––––––––––––– –––––––––––––––––––
Rizab modal:
- Rizab modal yang timbul dari penyatuan 325 325 – –
- Defisit penggabungan (41,625) (41,625) – –
––––––––––––––––––– ––––––––––––––––––– ––––––––––––––––––– –––––––––––––––––––
(41,300) (41,300) – –
––––––––––––––––––– ––––––––––––––––––– ––––––––––––––––––– –––––––––––––––––––
Saham perbendaharaan (Nota 26) (449) (374) (449) (374)
––––––––––––––––––– ––––––––––––––––––– ––––––––––––––––––– –––––––––––––––––––
259,424 263,723 445,787 445,862
––––––––––––––––––– ––––––––––––––––––– ––––––––––––––––––– –––––––––––––––––––
Boleh diagihkan
Pendapatan tertahan 195,841 183,334 56,310 56,029
Rizab nilai semula* 58,790 54,566 15,256 15,256
––––––––––––––––––– ––––––––––––––––––– ––––––––––––––––––– –––––––––––––––––––
254,631 237,900 71,566 71,285
––––––––––––––––––– ––––––––––––––––––– ––––––––––––––––––– –––––––––––––––––––
514,055 501,623 517,353 517,147
================= ================= ================= =================
Syarikat mempunyai kredit cukai Seksyen 108 yang mencukupi dan pendapatan dikecualikan cukai di bawah Akta Cukai
Pendapatan Malaysia, 1967 untuk membayar kesemua pendapatan tertahannya pada 31 Disember 2005, jika dibayar sebagai
dividen, tanpa menanggung liabiliti cukai tambahan.
*Ini mewakili rizab nilai semula terkumpul yang telah direalisasikan.
28 URUSNIAGA PENTING PIHAK BERKAITAN
Di samping pendedahan tentang pihak berkaitan yang dinyatakan di bahagian lain dalam penyata kewangan ini, berikut adalah
urusniaga penting yang lain oleh pihak berkaitan.
Urusniaga yang dinyatakan di bawah telah dijalankan dalam urusan biasa perniagaan dan telah ditetapkan di bawah syaratsyarat
yang dipersetujui oleh pihak-pihak yang terbabit dan tiada perbezaan ketara dari apa yang terdapat dalam urusniaga
dengan pihak-pihak yang tidak berkaitan.
Kumpulan
Urusniaga Syarikat 2005 2004
RM’000 RM’000
Urusniaga dengan pemegang saham korporat
Penyewaan premis yang telah dibayar
dan akan dibayar
Tradewinds Corporation Berhad 497 609
Perolehan bagi penginapan hotel serta makanan
yang telah dibayar dan akan dibayar
Tradewinds Corporation Berhad 60 32
Urusniaga dengan syarikat subsidiari
pemegang saham korporat,
Chee Tat Holdings (S) Pte Ltd
Pendapatan sewa diterima Chee Tat Holdings (M) Sdn Bhd 12 12
UNITED MALAYAN LAND BHD

190
NOTA-NOTA KEPADA PENYATA KEWANGAN (samb.)
28 URUSNIAGA PENTING PIHAK BERKAITAN (samb.)
Kumpulan
Urusniaga Syarikat/Individu 2005 2004
RM’000 RM’000
Urusniaga dengan syarikat subsidiari
pemegang saham korporat,
Tradewinds Corporation Berhad
Perolehan tiket penerbangan yang telah
dibayar dan akan dibayar
Tradewinds Travel & Tours Sdn Bhd 47 29
Perolehan perkhidmatan Tradewinds International Insurance 85 61
pembrokeran insurans yang telah dibayar
dan akan dibayar
Brokers Sdn Bhd
Urusniaga dengan syarikat subsidiari
pemegang saham korporat,
CapitaLand Limited
Perolehan perkhidmatan pengurusan
yang telah dibayar dan akan dibayar
CapitaLand Residential Ltd 338 236
Bil berperingkat bagi penjualan pangsapuri
khidmat yang telah diterima dan akan diterima
Liang Court (Malaysia) Sdn Bhd 572 9,724
Urusniaga dengan syarikat bersekutu
pemegang saham korporat,
CapitaLand Limited
Penyewaan premis yang telah dibayar
dan akan dibayar
OneSentral Park Sdn Bhd 124 54
Urusniaga dengan para Pengarah Syarikat
Bil berperingkat bagi penjualan Datuk Nur Jazlan 180 118
pangsapuri khidmat dan kondominium
yang telah diterima dan akan diterima
bin Tan Sri Mohamed
Bil berperingkat bagi penjualan kondominium Datuk Mohd Khamil 132 –
yang telah diterima dan akan diterima bin Jamil
Bil berperingkat bagi penjualan kondominium
yang telah diterima dan akan diterima
Dr Choo Kian Koon 80 –
Urusniaga dengan individu yang berkaitan
dengan Pengarah Syarikat, Dato’ Ng Eng Tee
bagi tahun kewangan berakhir 31 Disember 2005
Bil berperingkat bagi penjualan kondominium
yang telah diterima dan akan diterima
Dennis Ng Yew Kim 135 –
Jumlah yang masih tertunggak pada 31 Disember 2005 berhubung urusniaga di atas dengan para pemegang saham korporat dan
pihak berkaitan dibentangkan dalam Nota 21 dan 23 penyata kewangan.

29 DAKWAAN MATERIAL
191
(a) Pada 7 Oktober 1996, UM Leisure Sdn Bhd (“UM Leisure”), sebuah subsidiari milik penuh Syarikat, telah memasuki
Perjanjian Usaha Sama (“JVA”) dengan Ultrapolis 3000 Holding Bermuda Ltd (“UPH”), berkaitan dengan organisasi,
pengurusan dan pengendalian Agarta Universe Sdn Bhd (“Agarta Universe”) yang akan membangun dan menguruskan
Pusat Peranginan Taman Tema Agarta Universe berserta hotel bertema dan pusat membeli-belah di Bandar Seri Alam,
Johor, sebuah bandar yang sedang dibangunkan oleh Seri Alam Properties Sdn Bhd (“Seri Alam”), iaitu sebuah syarikat
subsidiari milik penuh Syarikat.
Selaras dengan Perenggan 10.1(c) JVA, Syarikat telah mengeluarkan surat jaminan pembayaran bertarikh 3 Januari 1997
(“Surat Jaminan”) kepada Trans Resources Corporation Sdn Bhd (“TRC”) untuk menjalankan kerja-kerja tanah di atas
sebidang tanah, yang mana Pusat Peranginan Taman Tema Agarta Universe akan dibina, di bawah kontrak dengan
Sanwell Corporation (“Sanwell”), yang mana prinsipalnya ialah Agarta Universe. Sejurus itu, Seri Alam telah
menandatangani Perjanjian Pajakan bertarikh 9 Disember 1997 dengan Agarta Universe.
TRC telah mengemukakan satu tindakan writ di Mahkamah Tinggi Kuala Lumpur terhadap Sanwell sebanyak
RM17,459,445 yang merupakan jumlah terhutang berhubung kerja-kerja tanah yang dikatakan telah dijalankan. TRC juga
membuat tuntutan terhadap Syarikat, sebanyak RM15,500,000 sebagai jumlah yang dikatakan belum dibayar oleh Syarikat
di bawah Surat Jaminan yang dinyatakan di atas.
Dalam tindakan Mahkamah Tinggi Kuala Lumpur, Syarikat telah memfailkan tuntutan balas (“Tuntutan Balas”) terhadap
TRC, Sanwell, UPH dan Agarta Universe, yang memohon antara lain, akuan bahawa ia dibebaskan dari sebarang liabiliti
terhadap TRC di bawah Surat Jaminan dan perintah bahawa Agarta Universe hendaklah membayar ganti rugi kepada
Syarikat bagi semua akibat di bawah Surat Jaminan tersebut.
Sanwell memohon untuk menggantung tindakan tersebut atas dasar bahawa tuntutan TRC terhadapnya seharusnya
diselesaikan melalui timbangtara. Syarikat dan TRC membantah permohonan penggantungan Sanwell. Pada 19 Mei 1999,
suatu penggantungan (“Perintah Penggantungan”) telah diberi oleh Mahkamah Tinggi Kuala Lumpur. Bagaimanapun,
Syarikat dan TRC membuat rayuan di Mahkamah Rayuan terhadap keputusan Perintah Penggantungan tersebut. Pada 29
Jun 2000, Mahkamah Rayuan membenarkan permohonan TRC terhadap Sanwell berdasarkan pertimbangan permulaan
undang-undang dan mengenepikan Perintah Penggantungan tersebut. Melalui permohonan rayuan selanjutnya oleh
Sanwell, Mahkamah Persekutuan telah mengembalikan semula Perintah Penggantungan tersebut pada 20 Mei 2002.
Berdasarkan perintah Mahkamah Persekutuan, prosiding di Mahkamah Tinggi Kuala Lumpur telah ditangguh tanpa
tarikh dan kedudukan antara TRC dan Sanwell akan dirujuk kepada timbangtara.
Berikutnya, TRC memohon kepada Mahkamah Tinggi Kuala Lumpur untuk membatalkan Perintah Penggantungan
(“Permohonan Pembatalan”). Permohonan Pembatalan telah dibenarkan oleh Mahkamah Tinggi pada 2 April 2005 dengan
kos ditanggung oleh Sanwell.
Dengan pembatalan Perintah Penggantungan, pihak kepada guaman Mahkamah Tinggi Kuala Lumpur akan memulakan
perbicaraan ke atas tuntutan TRC serta Tuntutan Balas Syarikat. Mahkamah Tinggi Kuala Lumpur telah menetapkan
perbicaraan pada 25 Mei 2005 dan 26 Mei 2005.
Pada 25 Mei 2005, Syarikat dan TRC telah bersetuju, melalui surat antara peguam masing-masing, untuk membuat
penyelesaian di mana Syarikat akan membayar TRC jumlah sebanyak RM15,500,000 sebagai bayaran penuh dan
penyelesaian muktamad tuntutan terhadap Syarikat (Penyelesaian). Jumlah penyelesaian ini telah dijelaskan dalam
sepanjang tahun kewangan melalui gabungan wang tunai dan hartanah di Bandar Seri Alam berdasarkan syarat dan
peraturan yang dipersetujui. Satu perjanjian penyelesaian rasmi telah dimasuki pada 28 Disember 2005. Dengan perjanjian
ini, tuntutan terhadap Syarikat oleh TRC telah diselesaikan sepenuhnya.
Di samping itu, pengisytiharan berikut telah diberikan oleh Mahkamah Tinggi Kuala Lumpur pada 27 Mei 2005:-
(i) bahawa JVA antara UM Leisure dan UPH dibatalkan;
(ii) bahawa Perjanjian Pajakan di antara Seri Alam dan Agarta Universe ditamatkan; dan
(iii) bahawa Agarta Universe akan membayar ganti rugi kepada Syarikat bagi semua akibat di bawah Surat Jaminan
tersebut termasuk jumlah sebanyak RM15,500,000.
UNITED MALAYAN LAND BHD

192
29 DAKWAAN MATERIAL (samb.)
(b) Lembaga Hasil Dalam Negeri telah mengeluarkan notis taksiran serta taksiran tambahan berkaitan cukai pendapatan
tahun sebelumnya bagi syarikat subsidiari, Bangi Heights Development Sdn Bhd. Taksiran ini sebahagian besarnya adalah
disebabkan oleh pengolahan cukai yang berbeza yang dikenakan oleh Lembaga Hasil Dalam Negeri atas potongan
perbelanjaan permodalan faedah.
Kumpulan tidak bersetuju dengan taksiran serta taksiran tambahan dan telah memfailkan rayuan kepada Pesuruhjaya
Khas Cukai Pendapatan. Arahan penentuan telah dikeluarkan oleh Pesuruhjaya Khas Cukai Pendapatan pada 22
November 2005 yang tidak membenarkan potongan perbelanjaan permodalan faedah tersebut. Kumpulan akan terus
mempertahankan kedudukannya terhadap taksiran serta taksiran tambahan tersebut dan akan memfailkan rayuan
kepada Mahkamah Tinggi.
Sementara menunggu resolusi bagi perkara-perkara di atas, Kumpulan telah membayar RM2.1 juta setakat 31 Disember
2005 dan telah mengambil kira jumlah yang telah dibayar sebagai perbelanjaan cukai di dalam penyata pendapatan.
30 PERISTIWA-PERISTIWA PENTING SELEPAS TARIKH LEMBARAN IMBANGAN
Pada 18 Januari 2006, Syarikat telah memasuki perjanjian pemegang saham dengan Bolton Berhad dan Acegoal Pte Ltd untuk
mentadbir sebuah syarikat usaha sama yang akan membangunkan sebuah projek kondominium (Alpine Return Sdn Bhd)
(“Usaha Sama Dicadangkan”). Usaha Sama Dicadangkan ini tertakluk kepada kelulusan Jawatankuasa Pelaburan Asing (“FIC”).
Pada hari yang sama, Alpine Return Sdn Bhd, syarikat bersekutu yang dimiliki 35% oleh Syarikat, telah memasuki perjanjian jual
beli bersyarat dengan Bolton Berhad untuk mengambilalih sebelas (11) bidang tanah pegangan bebas yang bersempadan antara
satu sama lain, berukuran lebih kurang 17,383.207 meter persegi di sepanjang Jalan Mayang dan Jalan Yap Kwan Seng, Kuala
Lumpur untuk jumlah balasan tunai sebanyak RM112.287 juta (“Pengambilalihan Dicadangkan”).
Pengambilalihan Dicadangkan adalah tertakluk kepada syarat-syarat berikut terlebih dahulu:
(a) kelulusan FIC;
(b) kelulusan pemegang saham Bolton Berhad; dan
(c) perolehan arahan pembangunan daripada Dewan Bandaraya Kuala Lumpur.
31 MAKLUMAT BERSEGMEN
NOTA-NOTA KEPADA PENYATA KEWANGAN (samb.)
Penglibatan utama Kumpulan ialah di dalam industri pembangunan hartanah (Segmen utama). Semua aktiviti Kumpulan
dijalankan di Malaysia (Segmen kedua).
32 KELULUSAN PENYATA KEWANGAN
bagi tahun kewangan berakhir 31 Disember 2005
Penyata kewangan telah diluluskan untuk penerbitan selaras dengan resolusi Lembaga Pengarah pada 20 April 2006.

193
Kami, Dato’ Ng Eng Tee dan Datuk Nur Jazlan bin Tan Sri Mohamed, dua daripada Pengarah United Malayan Land Bhd, menyatakan
bahawa, pada pendapat Para Pengarah, penyata kewangan yang dibentangkan dari muka surat 156 hingga 192. telah disediakan bagi
memberi gambaran yang benar serta saksama berkenaan kedudukan Kumpulan dan Syarikat pada 31 Disember 2005 serta keputusan
dan aliran tunai Kumpulan dan Syarikat bagi tahun kewangan yang berakhir pada tarikh tersebut, sejajar dengan piawaian
perakaunan yang diluluskan oleh MASB dan diguna pakai di Malaysia serta peruntukan Akta Syarikat, 1965.
Ditandatangani bagi pihak Lembaga Pengarah selaras dengan resolusi mereka bertarikh 20 April 2006.
DATO’ NG ENG TEE DATUK NUR JAZLAN BIN TAN SRI MOHAMED
PENGARAH PENGARAH
Kuala Lumpur
PENYATA OLEH PARA PENGARAH
Selaras Dengan Seksyen 169 (15) Akta Syarikat, 1965
Saya, Pee Tong Lim, Pegawai utama yang bertanggungjawab ke atas pengurusan kewangan United Malayan Land Bhd, dengan
sesungguh dan seikhlasnya mengaku bahawa penyata kewangan yang dibentang dari muka surat 156 hingga 192. adalah, sebaik-baik
pengetahuan dan kepercayaan saya, adalah betul dan saya membuat ikrar ini dengan sepenuh kepercayaan bahawa ia adalah benar,
dan menurut peruntukan Akta Akuan Berkanun, 1960.
PEE TONG LIM
Ditandatangani dan diikrarkan oleh penama di atas, Pee Tong Lim di Kuala Lumpur, Malaysia pada 20 April 2006.
Di hadapan saya,
AKUAN BERKANUN
PESURUHJAYA SUMPAH
Selaras Dengan Seksyen 169 (16) Akta Syarikat, 1965
UNITED MALAYAN LAND BHD

194
Kami telah mengaudit penyata kewangan yang dibentangkan di muka surat 156 hingga 192. Penyata kewangan tersebut adalah
tanggungjawab para Pengarah Syarikat. Adalah menjadi tanggungjawab kami untuk membentuk satu pendapat bebas, berdasarkan
audit kami, bagi penyata kewangan dan untuk melaporkan pendapat kami kepada anda, sebagai satu badan, selaras dengan Seksyen
174 Akta Syarikat, 1965 dan bukan untuk sebarang tujuan lain. Kami tidak bertanggungjawab kepada sesiapa pun di atas kandungan
laporan ini.
Kami menjalankan audit berdasarkan piawaian-piawaian audit yang diluluskan di Malaysia. Piawaian-piawaian ini memerlukan kami
merancang dan menjalankan audit bagi mendapatkan jaminan munasabah bahawa penyata kewangan tersebut bebas daripada
salahnyata yang penting. Sesuatu audit merangkumi pemeriksaan, berdasarkan ujian, bukti yang relevan kepada jumlah dan
pendedahan dalam penyata kewangan. Sesuatu audit juga merangkumi penilaian prinsip perakaunan yang digunakan dan anggaran
ketara yang dibuat oleh para Pengarah serta penilaian tahap kecukupan keseluruhan pembentangan maklumat dalam penyata
kewangan. Kami percaya kerja pengauditan kami telah memberi asas yang wajar untuk kami memberikan pendapat.
Pada pendapat kami:
(a) penyata kewangan ini telah disediakan selaras dengan peruntukan Akta Syarikat, 1965 dan piawaian perakaunan yang
diluluskan oleh MASB yang diguna pakai di Malaysia untuk memberi gambaran yang benar dan saksama mengenai:
dan
(i) perkara-perkara yang dikehendaki oleh Seksyen 169 Akta Syarikat, 1965 untuk diuruskan di dalam penyata kewangan; dan
(ii) kedudukan hal ehwal Kumpulan dan Syarikat pada 31 Disember 2005 dan keputusan serta aliran tunai Kumpulan dan
Syarikat bagi tahun kewangan berakhir pada tarikh tersebut;
(b) rekod perakaunan dan rekod-rekod lain serta daftar-daftar yang dikehendaki oleh Akta untuk disimpan oleh Syarikat dan
syarikat-syarikat subsidiarinya, telah disimpan dengan sempurna selaras dengan peruntukan Akta tersebut.
Kami berpuas hati bahawa penyata kewangan syarikat-syarikat subsidiari yang telah disatukan dengan penyata kewangan Syarikat
adalah dalam bentuk dan kandungan yang sesuai dan wajar untuk tujuan penyediaan penyata kewangan yang disatukan dan kami
telah menerima maklumat dan penjelasan memuaskan yang diperlukan bagi tujuan tersebut.
Laporan audit bagi penyata kewangan syarikat-syarikat subsidiari tidak tertakluk kepada sebarang syarat dan tidak merangkumi
sebarang ulasan di bawah sub-seksyen (3) Seksyen 174 Akta tersebut.
PRICEWATERHOUSECOOPERS DATO’ AHMAD JOHAN BIN MOHAMMAD RASLAN
(No. AF: 1146) (No. 1867/09/06 (J))
Akauntan Bertauliah Rakan Firma
Kuala Lumpur
20 April 2006
LAPORAN JURUAUDIT
Kepada Ahli-Ahli United Malayan Land Bhd (No. Syarikat 4131 M) (Diperbadankan di Malaysia)

Please refer to the notes below before completing this Form of Proxy/ Sila rujuk nota-nota di bawah sebelum mengisi Borang Proksi ini.
I/We
Saya/Kami
of/ beralamat
a shareholder/shareholders of UNITED MALAYAN LAND BHD, hereby appoint
sebagai ahli/ahli-ahli UNITED MALAYAN LAND BHD, dengan ini melantik
of/ beralamat
or failing him/her, the Chairman of the meeting as my/our proxy to vote for me/us on my/our behalf at the 45th Annual
General Meeting to be held at Nirwana Ballroom 2, Lower Lobby, Crowne Plaza Mutiara Kuala Lumpur, Jalan Sultan Ismail,
50250 Kuala Lumpur on 20 June 2006 at 11.30 a.m. for the following ordinary resolutions as set out in the Notice of Annual
General Meeting:atau,
jika beliau tidak dapat hadir, Pengerusi Mesyuarat sebagai proksi saya/kami untuk mengundi bagi pihak saya/kami
di Mesyuarat Agung Tahunan Syarikat ke-45 yang akan diadakan di Dewan Nirwana 2, Lobi Bawah, Crowne Plaza Mutiara
Kuala Lumpur, Jalan Sultan Ismail, 50250 Kuala Lumpur, 20 Jun 2006 jam 11.30 pagi atas resolusi-resolusi biasa berikut yang
dinyatakan di dalam Notis Mesyuarat Agung Tahunan:-
RESOLUTION/ RESOLUSI
FOR/ MENYOKONG
AGAINST/ MENENTANG
ABSTAIN/ BERKECUALI
My/Our proxy is to vote on the resolutions as indicated by an “X” in the appropriate space above. If no indication is given,
my/our proxy shall vote or abstain as he/she thinks fit.
Proksi saya/kami akan mengundi untuk resolusi-resolusi berikut dengan menanda “X” di tempat yang disediakan. Jika tidak berbuat
demikian, proksi saya/kami akan mengundi atau tidak mengundi mengikut pilihannya.
Dated this day of 2006
Tarikh hari 2006
Signature(s) of shareholder(s)
Tandatangan ahli/ahli-ahli
(Company No. 4131-M)
Incorporated in Malaysia
FORM OF PROXY/ BORANG PROKSI
full name in block letters/ nama penuh dalam huruf besar
full address/ alamat penuh
full name in block letters/ nama penuh dalam huruf besar
full address/ alamat penuh
No. of Shares
Bil. Saham
1 2 3 4 5 6 7 8 9 10 11
NOTES:
1. A member entitled to attend and vote at the Annual General Meeting is entitled to appoint a proxy to attend and vote in his stead. A proxy need not be a member of the Company.
The instrument appointing a proxy shall be in writing under the hand of the appointor or his attorney duly authorised in writing, or if the appointor is a corporation, under its
common seal or in some other manner approved by its Directors.
2. The Form of Proxy must be deposited at the Company’s Share Registrar, Securities Services (Holdings) Sdn Bhd at Level 7, Menara Milenium, Jalan Damanlela, Pusat Bandar
Damansara, Damansara Heights, 50490 Kuala Lumpur not less than forty-eight (48) hours before the time set for the meeting or any adjournment thereof.
NOTA:
1. Seseorang ahli yang berhak hadir dan mengundi di Mesyuarat Agung Tahunan adalah berhak melantik proksi untuk hadir dan mengundi bagi pihaknya. Seorang proksi itu tidak semestinya
ahli Syarikat. Borang Proksi mestilah di isi oleh sipelantik atau ahli guaman yang diperakukan atau jika sipelantik itu sebuah perbadanan, ianya hendaklah di bawah meterinya atau
dikuatkuasakan dalam cara lain yang diluluskan oleh para pengarahnya.
2. Borang Proksi hendaklah diserahkan kepada Pendaftar Saham Syarikat, Securities Services (Holdings) Sdn Bhd di Aras 7, Menara Milenium, Jalan Damanlela, Pusat Bandar Damansara,
Damansara Heights, 50490 Kuala Lumpur tidak lewat daripada empat puluh lapan (48) jam sebelum masa yang ditetapkan bagi mesyuarat atau sebarang penangguhannya.

Fold Here/ Lipat Sini
Share Registrar/ Pendaftar Saham
UNITED MALAYAN LAND BHD
C/O SECURITIES SERVICES (HOLDINGS) SDN BHD
Level 7, Menara Milenium, Jalan Damanlela
Pusat Bandar Damansara, Damansara Heights
50490 Kuala Lumpur
Fold Here/ Lipat Sini
Stamp/ Setem

Merentasi sempadan dan
tradisi pembangunan untuk mencapai
kejayaan cemerlang.

Beyond boundaries.
Beyond conventions.
Beyond expectations.
UNITED MALAYAN LAND BHD 4131-M (Incorporated in Malaysia)
Suite 1.1, 1st Floor, Kompleks Antarabangsa,
Jalan Sultan Ismail, 50250 Kuala Lumpur, Malaysia.
Tel: 603-2142 1611 Fax: 603-2142 1826
Website: http://www.umland.com.my