KUALA LUMPUR (July 31): UEM Sunrise Bhd has embarked on a triage strategy to stabilise the company, restore investor confidence and return to the black after losses in the past eight quarters. 

CEO Sufian Abdullah believes the time is ripe to take corrective measures to reduce potential losses, improve its cost structure and activate capital expenditure. 

He said the group has had to make some hard decisions on its balance sheet and current commercial assets (projects) to sustain its business. 

The developer will also focus more on attainable products, given the market conditions. "This means fine-tuning the pricing to fit into the affordable range for those who are earning between 80% and 120% of the average median income, which will increase buyers’ chances of getting their financing approved and be more palatable for those buying for their own use," said Sufian.

In terms of upcoming launches, one of the more highly anticipated projects this year is the developer’s first transit-oriented development (TOD) in Taman Connaught, Cheras. Sitting on a 6.86-acre freehold tract adjacent to the Taman Connaught MRT station, the mixed-use development will comprise 2,413 residential units in four blocks, as well as some shops on the ground floor.

Another one that is coming up in 4Q2022 in Mont’ Kiara is MK31. Located on Jalan Kiara 7, the freehold residential development has a contemporary Indo-Chinese resort living concept and will consist of 496 units in two blocks. The indicative price starts from RM1.2 million.

Read more about it in the latest issue of City & Country, which comes out with The Edge Malaysia weekly's Aug 1, 2022 edition.

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