Naim Confident Of Better Performance In 2006

Naim Cendera Holdings Berhad held its fourth Annual General Meeting at the Holiday Inn Resort, Damai Lagoon yesterday and confirmed that it achieved better than expected financial results last year.

Addressing the meeting, Chairman Datuk Abdul Hamed Sepawi said 2005 was another record year for Naim, registering a growth in revenue of 23.1% to RM423.1 from RM343.7 million in 2004.

In 2005, the group also registered significant improvement in profit before tax which rose 7.7% from RM115 million to RM123.8 million, whilst profit attributable to shareholders grew 13.9% from RM69.5 million to RM79.1 million.

Earnings per share were RM0.32 sen against RM0.28 in 2004 based on their paid- up share capital less treasury shares at 247 million.

“For the tenth year in succession, we have registered excellent and substantial improvements in every aspect of our financial performance” Datuk Hamed said while expecting the group to achieve better growth in 2006.

In May this year, Naim declared an interim gross dividend of 15 sen per share less tax for the financial year ending 31 December 2006, the single highest dividend ever declared by the company since its listing in September 2003.

The generous dividend payout totaling RM36.67 million was in celebration of the group’s 10th Anniversary and as a token of appreciation to all of Naim’s shareholders who have been supportive of the group.

Meanwhile, Naim’s Chief Executive Officer, Datuk Hasmi Bin Hasnan has also announced that the Group, for the second consecutive year awarded another 10 scholarships amounting to RM100,000.

The recipients were those who have passed their Sijil Tinggi Pelajaran Malaysia (STPM) with good grades and entering their first year at the local public institutions of higher learning in the fields of civil, mechanical and electrical engineering, quantity surveying, housing, building and planning, property management, architecture, construction management and lastly in business administration.

Datuk Hasmi told members of the Board of Directors and the Company’s shareholders that the awarding of scholarships through Naim Foundation was part of the Group’s community related policies of helping excellent Sarawakian students to further their studies at local universities.