Naim’s Profit Surged More Than 40% And Declared 5 Sen Per Share Interim Dividend

Following its Board of Directors’ Meeting (BOD) here held today, Naim Cendera Holdings Berhad (Naim) released strong financial results for the nine months ended 3oth September 2004.
Naim, a leading property developer and construction company in
Sarawak, reported a profit before taxation of RM 81 million for the nine months, 45% better than that recorded for the corresponding period in 2003 of RM 56 million, on a perform basis.

Naim’s profit was achieved on a turnover of RM 243 million which is 38% higher than that recorded for the same period in 2003.

Contribution to turnover was mainly from its core activities of property development which contributed 60% and construction, 34%.

Unaudited net profit after tax for the nine months was RM 51 million, against RM 36 million, on a proforma basis, for the previous corresponding period, an improvement of almost 40.05%.

Based on its strong financial results, Naim is very much on track to achieving another record performance for 2004. Three of its constructions projects, namely the Institut Latihan Perindustrian, Miri, Sarawak, the Dewan Undangan Negeri, Kuching, Sarawak and the Saberkas Complex, Kuching, Sarawak have just recently commenced work and will contribute positively to its bottom line from the final quarter of 2004.

Bandar Baru Permyjaya, in Miri, Sarawak, one of the Group’s flagship developments is reportedly performing beyond expectations too.

Chairman of Naim, Datuk Abdul Hamed Sepawi is confident of a good performance based on its existing construction order book and property sales which are doing very well.