SDB Forecasts ‘Stable And Steady Year’ With Ongoing Innovative, Sustainable Projects - Article

KUALA LUMPUR, 29 September 2023: Boutique property developer Selangor Dredging Berhad (SDB) foresees a ‘stable and steady’ trajectory for the remainder of its fiscal year, reinforced by the innovative and sustainable ethos embedded in its ongoing developments. The firm manifests a quiet confidence, attributing its ‘quietly optimistic’ outlook to the distinctiveness and forward-thinking approach showcased in its current projects.

Its group managing director Teh Lip Kim cited its current developments – namely 19Trees at Taman Melawati, Kuala Lumpur and Jia at Taman Bukit Serdang, Selangor – as ‘exemplary examples’ of SDB's commitment to quality and innovation.

“These projects, which harmonise modern living with environmental sustainability, stand as testimony to our forward-thinking approach. Not only do they hold the promise of great aesthetic value, but they also adhere to the principles of sustainable development which is becoming increasingly significant in the property market,” said Teh in a press release.

She added that the strategic locations of these developments, nestled amidst burgeoning urban areas, ensure that the residents will have access to a plethora of amenities and facilities: “SDB's meticulous approach in selecting prime locations like Taman Melawati and Taman Bukit Serdang manifests in potential high yields for investors and a luxurious lifestyle for the inhabitants.”

19Trees is an urban sanctuary nestled within a lush tropical landscape, comprising 222 units of exquisitely designed strata terrace houses. At the time of writing, 75% of the project’s units have been sold. Jia, meanwhile, comprises 324 units of similar strata terrace houses and is situated within a thoughtfully designed and planned community. At the time of writing, 88% of the project’s units have been sold.

As a boutique property developer, SDB has always been at the forefront of pioneering distinctive residential concepts, and these projects are no exception.

“In a market that is steadily regaining its momentum, SDB is well-positioned to deliver on our promises, offering both investors and homeowners not only a piece of property but a unique lifestyle experience characterised by comfort, luxury, and harmony with nature. With a keen eye on market trends and a deep understanding of consumer preferences, SDB continues to sculpt a niche for ourselves, setting new benchmarks in property development,” Teh further said.

She was speaking after the conclusion of the company’s annual general meeting (AGM) held today.

During the event, shareholders were informed that SDB had total unbilled sales of RM630 million, after a commendable financial year whereby the company posted pre-tax profit of RM12.55 million on the back of a higher turnover of RM137.74 million for the year ended 31 March 2023. After accounting for taxation, the Group posted a net profit of RM6.25 million.

For the year under review, SDB’s fundamentals also remain strong: Net asset backing per share increased to RM2.02 per share (FY2022: RM1.98).

The positive momentum continued into Quarter 1, 2023/24 ended 30 June 2023, with the company posting group pre-tax profit of RM7.78 million (net profit: RM7.04 million) on the back of a turnover of RM46.78 million for this three-month period.
“What differentiates our projects from other developers is our ‘Brand Promise’ to consistently deliver quality premium projects which include high-rises and landed developments,” said Teh.

In Singapore, the Group has obtained Temporary Occupation Permit (TOP) for One Draycott in April 2023. The development at 1 Draycott Park, District 10 is situated in the upscale Ardmore-Draycott residential enclave and is near the Scotts and Orchard Road shopping belt.

In the hospitality sector, the Group’s hotel business, represented by Hotel Maya Kuala Lumpur posted revenue of RM17.01 million for the year ended 31 March 2023. The improved result is driven by the rebound in travels which drives Malaysia’s hotel market recovery as well as the acquisition of new corporate and overseas accounts which have further contributed to overall revenue.

A leading boutique property developer, SDB has won numerous industry awards and accolades, which include multiple international FIABCI World Prix d’Excellence and Chapter Awards that recognise excellence in real estate projects from conception to completion.

Recently, Jui Residences in Singapore emerged as the World Gold Winner of the coveted FIABCI Prix’ d’Excellence Awards 2023 for the Residential Mid-Rise Category. The conserved National Aerated Water Company Limited Building, a cultural heritage at Jui Residences also won the FIABCI Singapore Award in the Heritage category.