Mr Eddy Chieng Ing Huong, Chairman
Ms Teh Lip Kim, Managing Director
Mr Loong Ching Hong, Group General Manager
 

KUALA LUMPUR, Aug 27 (Bernama) -- Given the challenging business environment, Selangor Dredging Berhad (SDB) would continue to be innovative in its approaches to ensure profitability in the years ahead.
 
Its Chairman Mr Eddy Chieng Ing Huong said that the outlook for the coming financial year is expected to remain challenging in view of adverse market conditions and over supply of properties.
 
“Malaysia’s property sector is picking up at a slow rate due to challenging market conditions coupled with consumers’ cautious spending habits from the increase cost of living, as well as firmer bank policies,” said Mr Chieng.
 
“As such, the SDB Group will continue to be innovative in our approaches which include embarking on various marketing activities in order to convert inventories into sales,” he further said, adding the Group has approximately RM241.90 million of unbilled sales in hand derived from ongoing projects in Singapore and Malaysia.
 
SDB currently has three major projects in Malaysia. They are:
 
(1) SqWhere in Sungai Buloh has been completed as planned in July 2019. With excellent connectivity, SqWhere is directly connected to the Kampung Selamat MRT station via a 75m direct link bridge and has easy accessibility to major expressways.
 
(2) The HubSS2 in Seksyen 19 Petaling Jaya which has been completed was handed over to purchasers in April 2018. The Hub comprises 13 units of 2 ½ story retail offices and a tower of 276 units of signature suites. It has been designed to be a thoughtful integrated environment which is conducive for work life balance, as the development has been conceptualised to include recreational facilities as well as landscaped areas for all to enjoy.
 
(3) Over in Cheras, Kuala Lumpur, currently under construction is UNA located at Jalan Peel. Comprising 316 units of service apartments, with retail units on the Ground Floor, UNA is located directly opposite the Sunway Velocity Mall and just a stone’s throw away to the Maluri and Cochrane MRT stations.
 
In the forthcoming future, SDB aims to launch a development catering for the millennial market located in Subang Jaya. Besides millennials – in particular students – the target market for this development would be retirees who are looking to resize and young couples seeking their first home.
 
Across the Causeway in Singapore, SDB Group currently has two ongoing developments, which are One Draycott located within Singapore’s District 10 and just mere minutes away from the Scotts/Orchard Road shopping belt and JUI Residences, a waterfront development located on Serangoon Road, in District 12.
 
In addition to that, the SDB Group also has several parcels of land measuring 30,689 sq ft in total. However, plans for development have yet to be finalised.
 
For its financial year ended 31 March 2019, the SDB Group registered a pre-tax profit of RM35.72 million (2018: RM52.89 million) on the back of a turnover of RM256.13 million (2018: RM151.05 million).
 
With regards to the Group’s involvement in the mining sector, Fortress Minerals Limited is a leading high-grade iron ore producer in Bukit Besi, Terengganu. It has contributed RM7.08 million of net profit to the Group during the financial year. The listing of Fortress Minerals Limited in Singapore Exchange has also resulted in a net gain of RM11.45 million.
 
The company’s developments have also received both international and regional recognition in line with its brand promise of “Driving Excellence, Building Lifelong Relationships”.
 
These recognitions include:
 
(1) The FIABCI Singapore Property Award in the Residential (Low Rise) category in October 2018, for Village at Pasir Panjang in Singapore. This 148-unit development located at Pasir Panjang Road features a 8,000 sq. ft. lawn which has been designed for residences to congregate similar to a village. Subsequently, in May 2019 Village at Pasir Panjang received the World Gold award for the Residential (Low Rise) category in the prestigious FIABCI Prix d’Excellence Awards held in Moscow, Russia. In total, the SDB Group has since garnered 2 gold and 4 silver awards at this coveted international competition throughout the years.
 
(2) Also in Singapore, Hijauan on Cavenagh was the award winner for Residential Development in Singapore at the Asia Pacific Property Awards 2019 held at Bangkok, Thailand.
 
“SDB is indeed proud to have flown the Malaysian flag across the Causeway. We will work towards having more award-winning developments both in Malaysia and Singapore,” said Mr Chieng.
 
About Selangor Dredging Berhad (SDB)

Starting off as a tin mining company, SDB is now mainly focused on property activities. Its main business activity is property development, and other activities include property management and hotel operations. Our brand promise “Driving Excellence, Building Lifelong Relationships” sums up what we strive to do – driving excellence in terms of products and services to build a lifelong relationship with purchasers, hotel guests and all stakeholders.
 
SOURCE : Selangor Dredging Berhad (SDB)

FOR MORE INFORMATION, PLEASE CONTACT: 
Name : Anusha K. or Seow Wen Jie
Communications and Corporate Affairs
Tel :  03 2161 3377
H/p : 012 201 5024 (Anusha)/ 016 210 3088 (Wen Jie)
E-Mail :  anusha.k@sdb.com.my/seow@sdb.com.my
 
Other resources:
Website : www.sdb.com.my
Facebook : www.facebook.com/selangordredgingberhad 

--BERNAMA