Latest news with #Azmir
The Star
6 days ago
- Business
- The Star
SimeProp bullish on 2025 after strong 1Q
PETALING JAYA: While keeping a positive outlook for 2025, Sime Darby Property Bhd (SimeProp) remains cautious towards the degree of worldwide volatility beyond this year, especially emanating from the trade tariff situation, and is concerned about its wider impact. Group managing director and chief executive Datuk Azmir Merican remarked that volatility is 'never a good situation', before saying that it is helpful to understand how finalised tariff decisions can affect all parties involved, since Malaysia has substantial business relations with the United States, China and Asean. 'That said, we are rather optimistic for 2025, but it is when we look towards 2026 and beyond, we wonder whether future launches and lending will be affected, not as a primary impact on our properties but as part of a secondary round of impact,' he told a virtual media briefing yesterday following the release of its first quarter of financial year 2025 (1Q25) results. He acknowledged that SimeProp, being a property developer, is highly dependent on the overall economy doing well, which in turn influences investor confidence. Nevertheless, Azmir reiterated the group's bright prospects for the near and medium term, especially throughout 2025. Despite recording a marginally lower net profit year-on-year (y-o-y) of RM118.4mil for 1Q25 as compared to the corresponding period a year ago, Azmir emphasised that 1Q24 was the group's strongest quarter thus far, and the result from 1Q25 was therefore encouraging. This was underpinned by the fact that net profit margin had improved from 12.6% to 13.6% y-o-y in 1Q25. He pointed out that 1Q25 profitability was supported by a turnaround in the investment and asset management segment, coupled with profit from compulsory land acquisition, which offset the lower segment results from the property development segment and leisure division. Having launched a total gross development value (GDV) of RM656.5mil in 1Q25, from a goal of RM4bil GDV to be put in place this year, Azmir said SimeProp will launch the remaining GDV of RM3.3bil across the industrial, residential and commercial segments, with respective shares of 30%, 59% and 11%. The group has a sales target of RM3.6bil for 2025. Of interest, industrial products contributed to half of the RM927.5mil sales figure achieved by the group in 1Q25, with residential high rise products contributing in total 27% of sales, while residential landed properties made up 16%. Commercial products, meanwhile, contributed to 7% of sales, driven by sustained demand across our maturing townships. Azmir observed that sales remained concentrated within central and Greater Klang Valley, with a notable increase in contribution of 20% from Negri Sembilan. Explaining the relatively larger share of sales contribution from the group's industrial segment, chief operating officer for township development Apollo Leong said in the second half of 2024, SimeProp launched nine phases of industrial properties, compared to only three phases of landed residential developments. 'The big jump in sales contribution by industrial properties is due to the timing of their recognition, although we do have a heavy pipeline of industrial properties as well,' he said. As such, Azmir maintained that residential properties would catch up to industrial products with regards to sales contribution, although with the group also focusing on industrial launches, he is expecting the latter segment to yield more than a 30% share in sales by end of 2025. Meanwhile, commenting on its Battersea Power Station (BPS) project, he said the take-up rate for the residential component of Phase 3B (Electric Boulevard) had increased to 74%, representing a 6% quarter-on-quarter growth, while the office leasing rate remained at 45%. He noted that footfall at BPS also grew a healthy 8% y-o-y in 1Q25, before remarking that since its opening in October 2022, the location has welcomed over 30 million visitors. 'More importantly, we have secured detailed planning approval and consent from Wandsworth Council for Phase 3C of BPS, comprising a mix of residential, retail, community and leisure development, with anticipated completion in 2029,' said Azmir. Elaborating on the group's strategy for BPS going forward, he said leasing enquiries for the office building has been strong, and rental rates have been encouraging. However, he said SimeProp is more keen to take in tenants for longer tenures, with the aim that they can commit for up to 10 years. 'Since we have leased out almost half the building, and because securing long tenancies remains our goal, we are now selective with our prospective tenants. 'We would prefer they commit for the long term, because then we can have an idea of how they can provide stabilised rental income for the group,' said Azmir. On the other hand, he said rental rates in the United Kingdom have shot up faster than expected, which has become a double-edged sword, because while this means there is a higher likelihood that tenants will be able to pay rental rates above the group's projections, it could also represent the fact that it may take a longer time for space to be taken up. For the rest of 2025, Azmir reported that the company is guiding for a gross profit margin of 20% to 25%, and a debt-to-equity ratio of less than 0.5 times by balancing active working capital and investments for future growth. It is also aiming to ensure optimal asset turnover by maintaining at most 10% of completed stocks. 'We see strong growth from the property development segment across 26 townships, driven by a well-diversified mix of residential, industrial and commercial products. 'Concurrently, our retail segment is also growing, supported by two wholly-owned malls, with a combined net lettable area (NLA) of approximately 608,000 sq ft and the upcoming KLGCC Mall with a NLA of about 240,000 sq ft,' he said. The group also has an existing land bank of about 11,400 acres with a GDV exceeding RM100bil to be unlocked, as it is also expanding into the high-growth data centre asset class with two hyperscale data centres at Elmina Business Park spanning across 126 acres, on top of a secured total lease value of RM7.6bil over a period of 20 years.
New Straits Times
7 days ago
- Business
- New Straits Times
Sime Darby property optimistic on 2025 outlook, backed by RM3.8bil unbilled sales
KUALA LUMPUR: Sime Darby Property Bhd remains optimistic about its outlook for 2025, underpinned by record-high unbilled sales of RM3.84 billion in 2024, despite concerns over ongoing global tariff uncertainties. Group managing director Datuk Azmir Merican said the group's focus on execution and portfolio diversification has enabled it to navigate external headwinds effectively. "A key concern for this year and 2026 is whether future launches and bank lending will be affected," he said during a virtual press conference today. In the first quarter ended 31 March 2025 (Q1FY25), Sime Darby Property recorded RM927.5 million in sales, representing 26 per cent of its full-year target of RM3.6 billion. Of this, industrial products contributed 50 per cent, followed by residential high-rise units at 27 per cent, landed homes at 16 per cent, and commercial properties at seven per cent. Azmir said the group plans to launch RM3.3 billion in gross development value across 3,044 units for the remainder of 2025. This will include industrial projects worth RM1.21 billion, residential landed homes at RM1.12 billion, residential high-rise units at RM1.07 billion, and commercial properties at RM546 million. Internationally, the group's flagship Battersea Power Station development in the United Kingdom continues to gain traction. Footfall increased eight per cent year-on-year in Q1FY25, bringing total visitors since its 2022 opening to over 30 million. The Phase 3B (Electric Boulevard) residential component recorded a take-up rate of 74 per cent, up six per cent quarter-on-quarter, while commercial leasing remains steady at 45 per cent, with efforts ongoing to secure more long-term tenants. In May 2025, the property developer secured planning approval for Phase 3C, which will comprise 306 new homes including 121 senior living units with anticipated completion by 2029. Azmir highlighted the group is scheduled to open the upcoming KLGCC Mall within the prestigious Kuala Lumpur Golf & Country Club (KLGCC) precinct in the second half of the year. The new retail asset is expected to strengthen Sime Darby Property's recurring income strategy, joining its existing investment properties such as KL East Mall and Elmina Lakeside Mall. He added the group's SHIFT25 transformation agenda, aimed at becoming a fully integrated real estate player by the end of 2025, is progressing steadily. These goals will be further supported by the group's growing industrial portfolio, particularly in data centre leasing, logistics parks, and warehouse operations, alongside improving performance across its retail segment.
New Straits Times
28-05-2025
- Entertainment
- New Straits Times
#SHOWBIZ: Malaysia, Indonesia partner to boost film industries globally
KUALA LUMPUR: Malaysia and Indonesia are set to form a strategic partnership aimed at elevating their local film industries to international standards, positioning them as a global focus. To achieve this, a specialised team will be established, concentrating on script development and examining the financial structures necessary for film production. The initiative follows a meeting between the National Film Development Corporation (Finas) and an Indonesian delegation, led by Deputy Culture Minister, Giring Ganesha. The discussions took place during the recent Marche du Film event in Cannes, France. Finas chief executive officer, Datuk Azmir Saifuddin Mutalib, said he had previously discussed this collaboration with Indonesian Culture Minister, Fadli Zon, at a film event in Hong Kong. "Among the things we are discussing is producing a film project together. Perhaps a story about culture, especially one that highlights Eastern values," Azmir told BH Online. He added that both nations share many cultural similarities, such as removing shoes when entering a home, eating with hands, and respecting parents, making shared storytelling a natural fit. The Indonesian delegation in Cannes included renowned actors Christine Hakim, Chelsea Islan, Iko Uwais, and Reza Rahadian. Azmir stated that the special team would comprise representatives from both countries to foster collaborative idea generation and creativity. "The current plan is to form a special team that will research and produce the script. There will be representatives from Indonesia and Malaysia." Azmir suggested exploring stories about figures or imams known across the archipelago, such as those recognised in both Malaysia and Indonesia. This bilateral cooperation will also encourage private agencies to provide mutual assistance. "This initiative is not 100 per cent funded by the Malaysian and Indonesian governments. This planning also involves private agencies," Azmir clarified. The partnership aims to produce films not only for the Malaysian and Indonesian markets but also for export to various other countries. "During the discussion, we thought it was time to produce a film for international viewing that tells about our culture and language," he added. Indonesian filmmakers have also expressed interest in Malaysia's success in animated films. Azmir noted: "Our animated films like 'Boboiboy' can be said to be strong, that's why they are interested in doing this two-way collaboration." Conversely, Malaysia acknowledges Indonesia's strong storytelling capabilities and cultural portrayals in films. Azmir believes that combining Malaysia's technical and animation expertise with Indonesia's narrative strengths will lead to a more robust outcome. The discussions have been communicated to Finas chairman, Datuk Hans Isaac, and Communications Minister, Datuk Fahmi Fadzil. Azmir anticipates further engagement with the Indonesian side at both the CEO and ministerial levels.
New Straits Times
21-05-2025
- Business
- New Straits Times
#SHOWBIZ: Malaysia-HK firms team up to produce films for global stage
THE National Film Development Corporation (Finas) has lauded the recent signing of a memorandum of understanding between prominent producers Skop Productions (Malaysia) and Mandarin Motion Pictures (Hong Kong) as a significant stride towards bolstering regional film collaboration. This MoU stems from the Malaysian delegation's participation in the Hong Kong Filmart last March, spearheaded by Finas chief executive officer Datuk Azmir Saifuddin Mutalib. The initiative has paved the way for a joint production agreement aimed at creating new, internationally acclaimed cinematic works. Azmir emphasised the importance of this collaboration, saying that it "not only acts as a catalyst for stronger ties between the Malaysian and Hong Kong film industries, but also marks the first joint film endeavour following the official visit of the Chinese president to Malaysia last month". "This also serves to strengthen diplomatic and economic relations through cultural diplomacy," he added. Azmir also highlighted the significant investment support from Chinese government-linked entities, such as Bauhinia Cultural Group and Sil-Metropole Organisation. "This reflects the confidence of international investors in Malaysia's creative potential and the quality of our productions. "This strategic partnership will greatly benefit Malaysia's film industry ecosystem by facilitating market expansion, technology and skills transfer and positioning Malaysia as a premier global filming destination," he said in a recent Berita Harian report. Azmir said the project was supported by the Film in Malaysia Incentive (FIMI), which offered a 30 per cent rebate for film and television productions filming within the country. "This collaboration aligns with the aspirations of the Communications Minister Datuk Fahmi Fadzil, who underscores the importance of strategic partnerships, private sector investment and sustainable film financing for the growth of our national creative industry, ensuring it's not reliant on government funding. "Finas is confident that through the combined efforts of various stakeholders, Malaysia will continue to confidently and qualitatively make its mark on the global stage," he said.
The Star
14-05-2025
- Business
- The Star
New event space sets stage for creative success
PETALING JAYA: Malaysia's creative industry received a fresh boost with the launch of Idea Live Arena, which is expected to serve as a catalyst for regional entertainment, said National Film Development Corporation Malaysia (Finas) chief executive officer Datuk Azmir Saifuddin Mutalib ( pic ). He said the Idea Live Arena, located at the 3 Damansara shopping mall here and with a capacity to accommodate up to 7,000 guests, would not only enhance Malaysia's ability to host large-scale events but also align with the nation's aspirations to position itself as a regional hub for the entertainment and creative industries. 'This venue is fully equipped with the latest facilities and has the potential to become a stage for international-scale concerts and exhibitions,' he said, reported Bernama. The venue was developed by Superstar Arena Holdings Sdn Bhd with an investment of RM40mil, involving structural upgrades, renovations, and the installation of world-class audio, lighting, and visual systems. Azmir said the launch of the venue coincides with the implementation of the new Concert and Event in Malaysia Incentives (CEMI) programme by the Communications Ministry, aimed at attracting more international events to Malaysia while supporting the organisation of local events. 'With the CEMI incentive, we hope that more organisers will bring international concerts and entertainment events to Malaysia, thereby boosting the economy through the tourism, hospitality, and entertainment sectors,' he said. Azmir added that the Idea Live Arena is already almost fully booked until the end of this year, reflecting strong demand for physical concerts and live events.
