1. Taman Jasa Utama 2. Glomac Business Centre 3. Prima Bandar Sri Permaisuri 5. Kelana Business Centre 6. Kelana Centre Point 7. Sri Saujana 8.

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2 Cover Rationale This year s Annual Report is reflective of Glomac s belief that our journey from the early years with the many milestones, navigates and guides our journey into the future. To where we are going, we need to understand where we came from as they define our core values of creating enduring partnerships and improving value of life with our products.

3 1. Taman Jasa Utama 2. Glomac Business Centre 3. Prima Bandar Sri Permaisuri 5. Kelana Business Centre 6. Kelana Centre Point 7. Sri Saujana 8. Lakeside Residences

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5 Contents 4 Corporate Information 6 Group Structure 8 Board of Directors Profile 12 Chairman s Statement 22 Perutusan Pengerusi 34 Corporate Social Responsibility & Events 36 Financial Highlights 37 Corporate Governance Statement 44 Audit Committee Report 47 Statement On Internal Control 49 Directors Report 55 Independent Auditors Report 57 Income Statements 58 Balance Sheets 61 Statements of Changes in Equity 64 Cash Flow Statements 68 Notes to the Financial Statements 134 Statement by Directors 134 Declaration by the Officer Primarily Responsible for the Financial Management of the Company 135 List of Investment and Development Properties 137 Analysis of Shareholdings 140 Analysis of Warrant Holdings 142 Notice of 25th Annual General Meeting 145 Statement Accompanying Notice of 25th Annual General Meeting Form of Proxy Aman Suria Club House 2. OUG Square 3. Aman Suria Entrance 4. Lakeside Residence 5. Aman Suria Shop Office GLOMAC BERHAD ( M) 6. Sungai ANNUAL Buloh Country REPORT Resort 2009 Club House 3 7. Sungai Buloh Country Resort Club House

6 Corporate Information BOARD OF DIRECTORS Tan Sri Dato Mohamed Mansor bin Fateh Din Group Executive Chairman Datuk Richard Fong Loong Tuck Group Executive Vice-Chairman Dato Fateh Iskandar bin Tan Sri Dato Mohamed Mansor Group Managing Director/Chief Executive Officer Adjunct Professor Datuk Ali bin Tan Sri Abdul Kadir Independent Non-Executive Director Senator Dato Haji Ikhwan Salim bin Dato Haji Sujak Independent Non-Executive Director Mr Chong Kok Keong Independent Non-Executive Director COMPANY SECRETARY Ms Siew Suet Wei (MAICSA No ) AUDIT COMMITTEE AND RISK MANAGEMENT COMMITTEE Adjunct Professor Datuk Ali bin Tan Sri Abdul Kadir Chairman Senator Dato Haji Ikhwan Salim bin Dato Haji Sujak Member Mr Chong Kok Keong Member REMUNERATION AND NOMINATION COMMITTEE Senator Dato Haji Ikhwan Salim bin Dato Haji Sujak Chairman Adjunct Professor Datuk Ali bin Tan Sri Abdul Kadir Member Dato Fateh Iskandar bin Tan Sri Dato Mohamed Mansor Member AUDITORS Deloitte KassimChan (AF 0080) Level 19, Uptown 1, 1 Jalan SS21/58 Damansara Uptown, Petaling Jaya Selangor Darul Ehsan Tel : Fax : STOCK EXCHANGE LISTING Bursa Malaysia Securities Berhad Listed on 13 June 2000 Stock Code : 5020 SHARE REGISTRAR Shareworks Sdn Bhd 10-1, Jalan Sri Hartamas 8 Sri Hartamas Kuala Lumpur Tel : Fax : PRINCIPAL BANKERS AmBank Berhad Public Bank Berhad CIMB Bank Berhad Alliance Bank Malaysia Berhad Alliance Investment Bank Berhad Kuwait Finance House (M) Berhad RHB Bank Berhad RHB Islamic Bank Berhad HSBC Bank Malaysia Berhad MIDF Amanah Investment Bank Berhad WEBSITE REGISTERED OFFICE 12th Floor, Wisma Glomac 3, Kompleks Kelana Centre Point, Jalan SS 7/19, Kelana Jaya, Petaling Jaya, Selangor Darul Ehsan, Malaysia Tel : Fax :

7 Suria Stonor - Living 5

8 Group Structure Property Development 100% Glomac Land Sdn Bhd 100% Glomac Damansara Sdn Bhd 100% OUG Square Sdn Bhd Saujana Utama I, Sg. Buloh Glomac Damansara, Kuala Lumpur OUG Square, Kuala Lumpur 100% Magic Season Sdn Bhd 100% Glomac Jaya Sdn Bhd 100% Glomac Segar Sdn Bhd Saujana Utama II, Sg. Buloh Glomac Cyberjaya, Cyberjaya (Proposed Phase IV of Plaza Kelana Jaya) 100% Regency Land Sdn Bhd 100% Glomac Maju Sdn Bhd 100% Dunia Heights Sdn Bhd Saujana Utama III, Sg. Buloh Suria Residen, Cheras 100% Glomac Enterprise Sdn Bhd 100% Glomac Nusantara Sdn Bhd 70% FDA Sdn Bhd Sungai Buloh Country Resort, Sg. Buloh Dataran Glomac, Kelana Jaya (Proposed residential development in Sg. Buloh) Seri Bangi, Section 8, Bandar Baru Bangi 100% Glomac Consolidated Sdn Bhd 100% Glomac Rawang Sdn Bhd 51% Glomac Al Batha Sdn Bhd Bukit Saujana, Sg. Buloh Saujana Rawang, Rawang Glomac Tower, Kuala Lumpur 100% Glomac Sutera Sdn Bhd 100% Glomac Regal Sdn Bhd 51% Glomac Al Batha Mutiara Sdn Bhd Sri Saujana, Kota Tinggi, Johor Suria Stonor, Kuala Lumpur (Proposed commercial development in Mutiara Damansara) 100% Glomac Real Estate Sdn Bhd 100% Glomac Resources Sdn Bhd 30% PPC Glomac Sdn Bhd Aman Suria Damansara, Petaling Jaya Glomac Galleria, Sri Hartamas 100% Glomac Alliance Sdn Bhd 100% Glomac Vantage Sdn Bhd Lakeside Residences, Puchong Taman Mahkota Laksamana, Seksyen III, Melaka Bandar Sri Permaisuri, Cheras 100% Glomac City Sdn Bhd Plaza Glomac, Kelana Jaya 6

9 Property Investment & Management Other Activities Dormant Companies 100% Glomac Realty Sdn Bhd Glomac Business Centre, Kelana Jaya 100% Berapit Development Sdn Bhd Kelana Business Centre, Kelana Jaya 100% Kelana Centre Point Sdn Bhd Kompleks Kelana Centre Point, Kelana Jaya 100% Sungai Buloh Country Resort Sdn Bhd Kelab Saujana Utama, Sg. Buloh 100% Prima Sixteen Sdn Bhd Prima 16 Condominium, Phase I & II, P Jaya 100% Bangi Integrated Corporation Sdn Bhd Plaza Kelana Jaya, Ph II, Kelana Jaya 45.8% * VIP Glomac Pty Ltd (*) As trustee for VIP Glomac Unit Trust which owns 380 Lonsdale Street, Australia 44.10% WHA Glomac Alliance Co. Ltd Investment in Warehouse in Bangkok, Thailand 29.4% Worldwide Glomac Development Sdn Bhd Worldwide Business Park, Shah Alam Project Management 100% Glomac Group Management Services Sdn Bhd Property Management 100% Glomac Property Services Sdn Bhd Construction 51% Glomac Bina Sdn Bhd 100% BH Interiors Sdn Bhd Car Park Operations/ Management 60% Prominent Excel Sdn Bhd Investment Holding 100% Glomac Australia Pty Ltd 90% Glomac Thailand Sdn Bhd 85.7% Glomac Power Sdn Bhd 60% Glomac Utama Sdn Bhd 30% Irama Teguh Sdn Bhd 100% Elmina Equestrian Centre (Malaysia) Sdn Bhd 100% Glomac Leisure Sdn Bhd 100% Glomac Mauritius Ltd 100% Glomac Restaurants Sdn Bhd 100% Kelana Seafood Centre Sdn Bhd 100% Prisma Legacy Sdn Bhd 60% Glomac Excel Sdn Bhd 7

10 Board of Directors Profile 1. Tan Sri Dato Mohamed Mansor bin Fateh Din 2. Datuk Fong Loong Tuck 3. Dato Fateh Iskandar bin Tan Sri Dato Mohamed Mansor 4. Adjunct Professor Datuk Ali bin Tan Sri Abdul Kadir 5. Senator Dato Haji Ikhwan Salim bin Dato Haji Sujak Mr Chong Kok Keong

11 Tan Sri Dato Mohamed Mansor bin Fateh Din PSM, DPMS, AMP, PJK, JP Group Executive Chairman Malaysian, aged 69 Tan Sri Dato Mohamed Mansor bin Fateh Din or better known as FD Mansor was first appointed to the Board on 1 April As the Group Executive Chairman, he actively oversees the operations of the Group. Before he founded the Glomac Group, he was employed with Utusan Malaysia Berhad as the Personnel Director. Tan Sri Dato Mohamed Mansor has extensive experience in the property development business through his involvement in the industry for the past 25 years. He was the Honorary Secretary of the Malay Chamber of Commerce and Industry, Selangor from 1987 to 1995 and was awarded the Selangor Entrepreneur of the Year 1995 by the Dewan Perniagaan Melayu Malaysia Negeri Selangor in recognition of his contributions to the state. In September 2005, he was awarded the prestigious Property Man of the Year by FIABCI Malaysia. He was presented the award of Anugerah Usahasama Tulen by the Malay Chamber of Commerce, Malaysia in June Tan Sri Dato Mohamed Mansor bin Fateh Din attended all Board Meetings held during the financial year ended 30 April Datuk Fong Loong Tuck DMSM Group Executive Vice-Chairman Malaysian, aged 58 Datuk Fong was first appointed to the Board on 4 April He graduated with a Bachelor of Science (Hons) in Civil Engineering from University of London, UK. Datuk Fong began his career in Mudajaya Construction Sdn Bhd and IJM Corporation Berhad before founding Glomac in He has more than 30 years of experience in the field of property development, building construction and engineering. He served as the Secretary General of FIABCI (International Real Estate Federation) Malaysian Chapter for the term Datuk Fong was appointed President of FIABCI Malaysia in August 2006 for the term He was re-appointed President of FIABCI Malaysia in August 2008 for another term from As the President of FIABCI, he was instrumental in the formation of Malaysia Property Incorporated (MPI) in MPI was set-up by the Economic Planning Unit to promote Malaysian properties as the preferred destination for international property investors. Datuk Fong is the Chairman of the Board of Directors of MPI and sits on its Board of Governors. Datuk Fong is a much sought after speaker at seminars and has given talks on property market in Malaysia both locally and internationally. Datuk Fong attended all Board Meetings held during the financial year ended 30 April

12 Board of Directors Profile (cont d) Dato Fateh Iskandar bin Tan Sri Dato Mohamed Mansor DSIS, SSA Group Managing Director/Chief Executive Officer Malaysian, aged 41 Dato Fateh Iskandar bin Tan Sri Dato Mohamed Mansor joined the Glomac Group of Companies in 1991 and was appointed to the Board on 5 February Dato Fateh Iskandar attended the Malay College Kuala Kangsar and later obtained a law degree from the University of Queensland, Australia and an MBA. Dato Fateh Iskandar is currently the Vice President for REHDA Malaysia and Chairman for REHDA Selangor. He is also Director of Malaysian Property Incorporated, a body that promotes property investments among foreigners in Malaysia. Dato Fateh Iskandar is also an EXCO member of the Malaysian Australian Business Council. Over the years, he has given many talks and seminars both locally and internationally on the property market in Malaysia. Dato Fateh Iskandar is also a Board Member of Axis Reit Managers Berhad, the first REITs company to be listed on Bursa Malaysia. In 2008, he was appointed as Chairman of Gagasan Badan Ekonomi Melayu (GABEM) Selangor, a body that promotes entrepreneurship in the country. Dato Fateh Iskandar is a member of Glomac Berhad s Remuneration and Nomination Committee. Dato Fateh Iskandar attended all Board Meetings held during the financial year ended 30 April Adjunct Professor Datuk Ali bin Tan Sri Abdul Kadir PJN Independent Non-Executive Director Malaysian, aged 60 Datuk Ali was appointed to the Board on 20 February He is the Chairman of the Audit and Risk Management Committee of Glomac Berhad as well as a member of Glomac s Remuneration and Nomination Committee. He is currently a Trustee of the Labuan Offshore Financial Services Authority, the Force of Nature Aid Foundation, the Yayasan Kadir & Fatimah and the Yayasan Amal Bukit Bintang. He is an honorary Advisor to the Institute of Chartered Accountants In England & Wales (Malaysian Chapter), and an honorary Fellow of ICSA (UK) and the Malaysian Institute of Directors. He is currently an Adjunct Professor with University Malaya. Datuk Ali was appointed by the Minister of Finance as the Chairman of the Securities Commission (SC) of Malaysia on 1 March During his tenure, he launched the Capital Market Masterplan (CMMP), a strategic blueprint that charts the longterm development of the capital market, and chaired the Capital Market Advisory Council, which is responsible for overseeing the implementation of the CMMP. Datuk Ali was a member of a number of national committees including the Foreign Investment Committee (FIC), the Oversight Committee of the National Asset Management Company (Danaharta) and was also a trustee of the Financial Reporting Foundation. Datuk Ali was also actively involved in international regulatory circles. During his tenure in the SC, he was a member of the Executive Committee of the International Organisation of Securities Commissions (IOSCO), Chairman of IOSCO s Asia-Pacific Regional Committee and chaired the Islamic Capital Market Task Force. In addition, Datuk Ali was also a Trustee of the Accounting and Auditing Organisation for Islamic Financial Institutions (AAOIFI). He was the Consultant to the Sri Lanka Securities and Exchange Commission in 2006 for their Capital Market Strategic Plan. Datuk Ali is a Fellow of the Institute of Chartered Accountants in England and Wales (ICAEW) and a Malaysian CPA. He was the Executive Chairman and Partner of Ernst & Young and its predecessor firms from and Senior Advisor from March He was also former President of the Malaysian Association of Certified Public Accountants (MICPA, now known as the Malaysian Institute of Certified Public Accountants), and chaired the MICPA s Executive Committee and the Insolvency Practices Committee. He also co-chaired the Company Law Forum and was the CEO of Dubai Investment Group (Asia) from Datuk Ali is also a Director of Jobstreet Corporation Berhad, Milux Corporation Berhad, Microlink Solutions Berhad and Airocom Technology Berhad. Datuk Ali recorded 100% attendance at the Board Meetings since his date of appointment for the financial year ended 30 April

13 Senator Dato Haji Ikhwan Salim bin Dato Haji Sujak DSIS, KMN, PJK Independent Non-Executive Director Malaysian, aged 53 Senator Dato Haji Ikhwan Salim bin Dato Haji Sujak was first appointed to the Board on 9 February Dato Haji Ikhwan Salim holds a Bachelor s degree in Economics/Accounting from Queen s University, Belfast, UK. He began his career as an Auditor with Coopers & Lybrand, UK and joined Nestle (M) Sdn Bhd in In 1980, he moved on to be the Group Financial Planning Manager of Kumpulan Low Keng Huat Sdn Bhd. In 1982, he became the Managing Director of Jaya Holdings Sdn Bhd, an investment holding company. Dato Haji Ikhwan Salim is the Division Head of Petaling Jaya Utara Division of UMNO. In 1999, Dato Haji Ikhwan Salim was appointed Executive Chairman of Konsortium Jaringan Selangor Snd Bhd. He is also a Board Member of Malaysia Steel Works (KL) Berhad and Land and General Berhad. Dato Haji Ikhwan Salim is a member of the Audit Committee of Glomac Berhad and the Chairman of the Nomination and Remuneration Committee. Dato Haji Ikhwan Salim attended all Board Meetings held during the financial year ended 30 April Mr Chong Kok Keong Independent Non-Executive Director Malaysian, aged 60 Mr Chong Kok Keong was first appointed to the Board on 21 September 2000 and holds a Bachelor of Engineering (Hons) from Universiti Malaya. He began his career with Malayawata Steel Bhd as a trainee engineer and later joined Tractors Malaysia Berhad in In 1977, he was seconded to Kubota Agricultural Machinery Sdn Bhd to set up the Engines and Power Tiller production and assembly plant. In 1980, he returned to Tractors Malaysia Berhad and was appointed Manager in Charge of Engines Division of Tractors Malaysia Bhd. Mr. Chong was one of the founders of Pilecon Engineering Berhad where he set up the Plant Division and was part of the team which invented and patented the Triple Piling System. He was the Managing Director of Pilecon from 1992 to Mr Chong has extensive experience in both the Property and Construction sectors having been involved as an advisor to various projects since Mr Chong is a member of the Audit Committee of Glomac Berhad. Mr Chong attended all Board Meetings held during the financial year ended 30 April Notes: 1. None of the Directors has any family relationship with any Director and/ or Major Shareholder of the Company save for Tan Sri Dato Mohamed Mansor bin Fateh Din and Dato Fateh Iskandar bin Tan Sri Dato Mohamed Mansor who are father and son respectively. 2. Other than permitted related party transactions, none of the Directors has any conflict of interest with the Company. 3. None of the Directors has been convicted for any offences other than traffic offences within the past 10 years. 11

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15 Chairman s Statement Dear Valued Shareholders, On behalf of the Board of Directors, it is my great pleasure to present the Group s Annual Report and Financial Statements for the financial year ended 30 April FINANCIAL HIGHLIGHTS Notwithstanding the global financial turmoil and economic uncertainty, I am pleased to report that Glomac achieved another year of profits, reflecting our resilience in profit performance as a public listed company on Bursa Malaysia Securities Berhad ( Bursa Securities ). The Group posted revenue of million in the financial year under review, an increase of 6.5% from million reported in the previous financial year. Revenue growth was driven by progress billings from Glomac s ongoing projects such as Suria Stonor and township developments in Bandar Saujana Utama and Saujana Rawang. The Group also enjoyed maiden revenue contributions from Glomac Galleria, Seri Bangi and Glomac Tower, our new flagship office tower development in the Kuala Lumpur City Centre. Pre-tax profit rose 12% to 56.2 million from 50.2 million a year ago. The stronger profit performance was attributed to contribution from higher margin projects such as Glomac Galleria and Glomac Tower, where construction works went into full swing last year. In addition, our HIGHLIGHTS FOR THE FINANCIAL YEAR ENDED 30 APRIL mil /- (%) Revenue Pre-tax Profit Net Profit EPS (sen)* * Based on weighted average share base of 270.9m for FY09 and 258.5m FY08 pre-tax profit also includes a fair value gain of 4.4 million from our sale of Wisma Glomac 3, one of our investment properties within the commercial development of Kompleks Kelana Centre Point. Stronger profits for the year were partly offset by a higher loss incurred in the Group s construction division, which was impacted by the sharp spike in prices of key building materials. The division registered a loss of 3.0 million in FY2009 compared with 0.8 million a year earlier. Consistent with our prudent financial reporting, we also took the decision to provide for the impairment loss in our CLO ( collaterised loan obligation ) sub bonds, which amounted to 7.4 million last year. Minority interest for the year was higher due to the higher contribution from 51%-owned Glomac Tower. Consequently, net profit declined 8.8% to 32.0 million from 35.1 million achieved previously. The Group registered net earnings per share (EPS) of 11.4 sen (based on weighted average share base of million) in the financial year 2009, as compared with an EPS of 13.6 sen in the previous financial year 2008 (based on a weighted average share base of million). The sustained improvement in our financial performance has also resulted in a marked reduction in the Group s net gearing position, which fell from 72% at the end of April 2007 to 12% by April Note too that this does not take into consideration the proceeds from the sale of Wisma Glomac 3 and Block B of Glomac Business Centre. Together, these disposals will raise cash proceeds of more than 72 million, which will serve to further strengthen our Group balance sheet, and increase our working capital to support higher property development activities, as well fund the acquisition of development land. DIVIDEND Your Board is recommending a final gross dividend of 3.5 sen per share less 25% tax for the financial year ending 30 April In view of the asset divestments which have taken place in 2009, the Board is pleased to also propose a Special Dividend of 1 sen per share less 25% tax. Including the interim dividend of 2.5 sen per share tax exempt paid in May 2009, the total dividend for Glomac s financial year ended 2009 amounts to 7 sen per share, if the recommended final and Special dividends are approved. This compares to the total dividend of 5 sen per share tax exempt paid out in financial year ended The Group has always emphasised on providing a meaningful dividend return to shareholders, whilst retaining adequate reserves to sustain growth in its core development activities. Thus far, we have maintained a continuous dividend payout record since our public listing in June Our intention is to sustain a strong profit record to continue rewarding shareholders with a healthy dividend yield going forward. 13

16 Chairman s Statement (cont d) OPERATING BACKGROUND After three consecutive years of higher growth, Malaysia s economy registered a slower expansion of 4.7% in 2008 compared with 6.3% in Stronger growth in the first half of 2008 was mitigated by a sharp downturn in economic activities that was sparked off by the subprime mortgage crisis in the US. This affected the global financial markets, and soon filtered through to the real economy. Malaysia subsequently reported a year-onyear decline in GDP growth of -6.2% for the first quarter of Key concerns such as rising fuel prices and inflationary pressure in the earlier part of 2008 gave in to worries of a sharp reversal in growth momentum in the latter part of the year. As a result, Bank Negara cut its benchmark interest rates to spur growth. Overnight Policy Rate (OPR) was reduced by 150 basis points to 2% in November 2008, which led to Base Lending Rate (BLR) declining from an average of 6.75% to 5.55% currently. Property sales in Malaysia were brisk in the first half of 2008 when the value of residential property transactions rose 35.5% year-on-year, but turned negative to contract 3.0% in the second half of the year. Overall the domestic property sector still achieved growth on a full year basis. The National Property Information Centre, in its Malaysian Property Market 2008 report, states that number of property transactions rose 9.9% to 340,240 in 2008 from 309,455 in The value of the transactions grew by 14.5% to billion from billion. Such uncertain economic conditions adversely impacted our operating environment. Although construction material costs have stabilised, the pace of economic recovery remains the key determinant in the near-term strategic direction of our development activities. REVIEW OF OPERATIONS PROPERTY DEVELOPMENT The Group s property development division encountered many challenges throughout the financial year ended April Escalating prices of key building materials such as cement and steel exerted pressure on development margins, and buyers confidence continued to erode as the global financial crisis unfolded and the economic environment became more uncertain. Against this backdrop, the Group made a strategic decision to pace our new property launches and focus on the timely delivery of our ongoing projects. We are proud to have successfully added three new projects into our development portfolio over the course of our financial year 2008, namely Glomac Tower, our flagship commercial building in the prime vicinity of Kuala Lumpur City Centre, Glomac Galleria, a commercial project in bustling Sri Hartamas, and Seri Bangi, a mixed development project in Bandar Baru Bangi. In our financial year 2009 just ended, the Group has been concurrently managing in total twelve development projects, and testament to our development and management strengths, all our ongoing projects have met or are on schedule to meet their completion datelines. Suria Stonor, our high-end city centre condominium project, was officially handed over to our valued home owners in July We also successfully launched our Glomac 360 o Showcase, a promotional campaign which ran from 20 March to 30 April 2009, showcasing our property products. Incentives such as 100% financing for selected properties, interest-free loan during the construction period, free Sales and Purchase Agreement (SPA) legal fees and loan documentation, as well as easy payment programmes were offered. Thanks to the support of our prospective buyers, we managed to convert many of them into owners of Glomac s quality properties. Overall, despite the more challenging market environment, the Group generated new sales of 172 million in the financial year ended April 2009, compared to 339 million registered in the previous financial year (excluding the 577 million en-bloc sale of Glomac Tower). Glomac Tower Construction is on schedule for our maiden commercial project in Kuala Lumpur s most sought after business district, the KLCC Petronas Twin Towers locality. Sub-structure work, which commenced in April 2008, is well underway and targeted for completion in the second half of Building works will commence thereafter with full completion of the building in the year To date, we have received close to half of the en-bloc sale consideration of 577 million, and Glomac Tower will continue to be a significant earnings and cash-flow 14

17 contributor to the Group over the next two financial years. Bandar Saujana Utama This reputable and thriving township is a pride for Glomac. Since its inception over a decade ago, close to 1 billion worth of commercial and residential properties have been sold. The township is now well established with a commercial hub that comprises a hypermarket, shopping mall and shop offices, and a comprehensive range of amenities, including a clubhouse especially for the residents, primary and secondary schools, a police station, children s playgrounds and a post office, all of which are a boon to the over 30,000 residents in the township seeking quality community living. We are heartened by the response that Bandar Saujana Utama continues to be the address of choice in the Sungai Buloh district. Demand for the township s suite of medium-end residential and commercial properties remains healthy, underpinned by sustainable interest from the broad market segments, including civil servants. The opening of the new UiTM tertiary campus in the neighbourhood should continue to boost demand for our properties. The Group launched residential and commercial properties in the township worth over 100 million in our financial year just ended, and has plans to further launch new property products to capture future demand. Upcoming Projects Although there are no clear indications of a sustainable global economic recovery as yet, optimism is growing that the worst of the economic downturn is behind us. In that respect, the Group is well poised with a strong pipeline of development projects to capture new sales as the recovery process gathers momentum. Glomac has new properties with a total estimated Gross Development Value (GDV) of more than 1.4 billion that are ready for launch. Glomac Damansara Glomac Damansara is envisaged as a prestigious Kuala Lumpur freehold address in the prime Damansara area. Located along the strategic Jalan Damansara, the mixed development comprises office towers, shop offices, serviced apartments, boutique retail and office suites, all of which allows for the creation of a perfect harmony of live-work-play lifestyle components. The project has a GDV of 800 million to be developed over the next five years. The first phase was officially launched in March 2009, comprising of 12 blocks of 5 & 8 storey shop offices worth 53 million. Within this short period, we are encouraged to note that initial interest in the project has been very positive, with more than 60% reported sales. Concurrently, we are also marketing our 75 million 15-storey office tower on an en-bloc sale basis. Glomac Cyberjaya Acquired in 2008, this 8.1 acre freehold land is strategically located in the Cyberjaya Flagship Zone, and boasts of such strong multi-national corporations such as HSBC, IBM, DHL, BMW, Ericsson, NTT and Fujitsu as its immediate corporate neighbours. Glomac Cyberjaya comprises shop offices and a Data & Call Centre with a total estimated GDV of 180 million. The first phase comprising of 39 shop offices worth 64 million was opened for registration in March 2009, and officially launched in July We believe our project will be the first in Cyberjaya offering 3½ -storey shop offices for sale. Our Data and Call Centre worth 75 million was also made available for sale. Other New Projects Two other new projects that are earmarked for launch include commercial developments within the bustling districts of Mutiara Damansara and Kelana Jaya. Our commercial project in Mutiara Damansara, with an estimated GDV of 250 million, will be built on 1.3 acre of freehold land which we acquired in The development, surrounded by the commercial hubs of IKEA, Tesco and the Curve, will encompass retail spaces, office suites and a corporate office. Sited on an elevated land fronting the Damansara Puchong Highway and Kerinchi Link, the project will be a visible and prominent landmark in Mutiara Damansara. Plaza Kelana Jaya, with its signature lakeside promenade, has been a successful commercial development for the Group. To date, about 122 million worth of shop offices have been sold. The proud owners of these properties are also sharing the success, as the buildings are enjoying a high rental yield of 8% and capital appreciation of approximately 50% against the launch price. 15

18 Chairman s Statement (cont d) To further leverage on the success of this development, we are targeting to launch the fourth phase of Plaza Kelana Jaya. The development will be on a 3.2 acre freehold land, comprising an office block, a neighbourhood shopping mall and office suites. The estimated GDV of the project is about 250 million. Property Investment and Management Our Property Management division, under Glomac Property Services Sdn Bhd, manages over 3,000 units of residential and commercial properties. This division constantly focuses on upgrading and improving on our portfolio of investment properties to achieve higher yields and further capital appreciation. We are happy to report that on average, the occupancy rate for the Group s 276,000 sq. ft. of commercial space has remained steady at about 90%. On 11 February 2009, we realised the fruits of our labour when Glomac inked an agreement to dispose of Wisma Glomac 3 to Perbadanan Nasional Berhad for a cash consideration of 50 million. The 13-storey office block is one of the three office towers in Kompleks Kelana Centre Point (KKCP), which is located in Kelana Jaya. Besides the office towers, KKCP also encompasses 380 units of shop-offices in a 10-storey complex. The sale of Wisma Glomac 3 is expected to be concluded in this current financial year and will give rise to a gain of 4.4 million. More recently in August 2009, we sealed our second asset divestment transaction of the year with the sale of Block B in Glomac Business Centre (GBC) for a total cash consideration of 22.6 million to Koperasi Kakitangan Bank Rakyat Berhad. GBC, Glomac s first commercial development in Kelana Jaya, was completed in Block B is a 9-storey office building with a net lettable area of 48,814 sq ft of office space. The sale will result in a gain from disposal of approximately 4.6 million. Given the challenging market conditions, we are particularly pleased to achieve a fair market value for the two disposals, reflecting Glomac s ability to successfully execute its divestment strategy, and strong market confidence in the quality and commercial value of Glomac s projects. The Group will continue with its strict regime of regular maintenance and improvement of our investment properties, to put them in good stead to achieve high occupancy rates at good yields. Such discipline should sustain the market value of the properties, and provide us with the flexibility to dispose our non-core investment properties should opportunities arise. Construction In line with our cautious view on the construction sector, we made an effort to scale down our construction activities last year. Although we did have several outstanding external construction jobs which we were committed to complete, we made the decision not to pursue new contracts, but instead consolidate to focus on supporting the Group s own property development division. Despite our stringent cost cutting measures, cost pressures from the spike in prices of building materials and delays from intermittent materials shortages last year resulted in this division posting a small negative contribution. The outlook for the construction sector has since improved on account of building materials prices stabilising and the government s economic stimulus plans. We will however remain cautious, and will exercise utmost care before taking on new external construction contracts. Car Park Management The Car Park Management division, under Excel Parking, currently manages car parks in office towers, retail and commercial centres, hotels as well as open areas. In total, we are managing more than 8,000 vehicles daily within the Klang Valley. CORPORATE GOVERNANCE Glomac s Board of Directors recognises the importance of corporate governance in instilling confidence among shareholders and investors in the Group. Since the listing of the Group in year 2000, your Board has been diligent in ensuring Glomac s adherence to the principles and best practices of the Malaysian Code of Corporate Governance. It is also the aim of the Board to constantly strive for higher standard of corporate governance. With this in mind, I wish to highlight to shareholders that in our just ended financial year 2009, the roles of Glomac s Group Executive Chairman and Chief Executive Officer have been detached. Your Board has been mindful of the potential conflict of interest due to the convergence of the two roles being held by a single individual. Hence, in the interest of better corporate governance, your Board has decided to separate the two roles to better facilitate clearer definition of authority and responsibilities. 16

19 Bandar Saujana Utama 2. Suria Residen 3. Suria Residen 4. Bandar Saujana Utama 5. Dataran Glomac 6. SU Mall 7. Plaza Kelana Jaya

20 Chairman s Statement (cont d) Consequently, on 24 March 2009, I relinquished the post of Glomac s Chief Executive Officer. The position has been assumed by Dato F.D. Iskandar bin Tan Sri Dato Mohamed Mansor. I continue to support the Board and to serve the Group in my capacity as Group Executive Chairman. Dato F.D. Iskandar joined the Group in He was appointed to the Board in 1997, and took on the role of Group Managing Director in He has accumulated years of invaluable experience in the daily operations as well as strategic planning of Glomac. My Board members and I strongly believe that Dato F.D. Iskandar possesses the attributes to further build on Glomac s successes, and lead the Group to even greater heights as its Group Chief Executive Officer. We are confident he will flourish in this new role. In the financial year under review, Glomac has also taken the necessary steps to comply with Chapter 15.9(1) (b) of Bursa Securities Main Market Listing Requirements that states all audit committee members must be non-executive directors, with a majority of them being independent directors. In doing so, we appointed Datuk Ali bin Tan Sri Abdul Kadir to Glomac s Board on 20 February 2009 as the Group s nonexecutive and independent director. He was also appointed as a member of the Group s audit committee to fill a vacancy following the resignation of Datuk F.D. Iskandar from the same post on 30 January On 24 March 2009, Datuk Ali Kadir was re-designated as the Chairman of the audit committee, replacing Senator Dato Hj Ikhwan Salim Dato Hj Sujak, who was re-designated as a member of the audit committee. Consequently, Glomac s audit committee now comprises three independent nonexecutive directors, which is in compliance with the said listing requirement. I wish to take this opportunity to extend a warm welcome to Datuk Ali Kadir to Glomac s Board. Datuk Ali Kadir brings with him decades of experience in the field of accounting, where he was a Partner and Executive Chairman of Ernst and Young, as well as his involvement in capital market regulations as the Chairman of the Securities Commission of Malaysia. I look forward to his invaluable advice and contribution to the Board. Investor Relations Glomac also emphasises on the need for corporate transparency, effective communication and the timeliness of disseminating information to our shareholders and investing public. Other than through our Annual Report, which reviews the Group s operational and financial performance, and our various announcements to Bursa Securities, Glomac also has a dedicated investor relations section in our corporate website, The section is a repository of information relevant to investors and shareholders such as financial and stock information, dividend information and announcements to the stock exchange, among others. We welcome you to browse through this section as it is updated periodically. Various other investor relations programmes have been implemented for the investing community to keep abreast of Glomac s corporate development and financial performance. Accordingly, Glomac holds analysts and fund managers briefings in conjunction with the release of the Group s quarterly financial results. The Group takes a proactive approach in reaching out to the investing community via small group meetings, luncheons and participating in roadshows and investors conferences organised by stockbroking companies in Malaysia and abroad to raise the Group s profile among local and foreign investors. Such activities are usually spearheaded by Glomac s executive directors, supported by our investor relations manager. PROSPECTS The past 18 months have been tumultuous for the world s financial markets and economies. Malaysia s GDP in the past few quarters recorded slower growth, and even contracted in the last reported quarter. However, market consensus is of the view that Malaysia s economy has likely bottomed out in the first quarter of 2009, and our GDP growth is likely to improve in subsequent quarters based on leading indicators such as sequential improvements in exports and industrial output. Over this period, it is encouraging to observe that the government has been 18

21 pro-active in introducing various measures to counter the economic slowdown, chief of which are two stimulus packages totalling 67 billion. The government has also instituted improvements to the delivery system to ensure speedy implementation of the identified projects under these packages. There are also specific measures the government has taken to boost property sales. The relaxation of monetary policy has certainly served to improve liquidity and made property purchases more affordable. Another benefit involves the provision for tax credits of up to 10,000 per year for the first three years on housing loan interest for new properties bought between March 2009 and March The overall economy has shown signs of stabilising, and with these positive measures, we look forward to further recovery in market confidence and the business environment. Nevertheless, Glomac will not let up its vigilance in cost control and financial discipline, timely delivery of our development products and smooth execution of our business plans, to ensure that the Group is well positioned in capitalising on the potential strengthening of the economy and improved sentiment in the property sector. After much planning, I am pleased to inform you that Glomac is ready to launch our new projects that potentially carry a total GDV of over 1.4 billion. The fruition of our developments in Glomac Damansara and Glomac Cyberjaya, and commercial properties in Mutiara Damansara and Phase IV of Plaza Kelana Jaya will ensure Glomac remains highly visible in the marketplace with a suite of new and innovative product offerings to fulfil market demand. We are excited with these prestigious developments, which have excellent potential to be landmarks in their muchsought after addresses. It is encouraging to observe that the Group s sales trend since April 2009 has been rising, partly driven by government initiatives and seemingly improved consumer confidence. Going forward, we are in no doubt that the exciting new projects added to our ongoing development portfolio will continue to sustain our overall sales growth, and consequently, generate healthy profits for the Group in the current financial year and beyond. CORPORATE SOCIAL RESPONSIBILITIES Corporate social responsibility is an integral part of Glomac s vision to build not just houses and offices but communities for our homeowners. Corporate social responsibility has a strong influence on the Group s decision-making process. Our philosophy is to contribute, as a responsible corporate citizen, to the realisation of a richer society by utilising the company s capabilities and assets. Glomac has a long record for helping society in a variety of ways, most notably by the Group s charitable programme through numerous donations. The Group has demonstrated its commitment and responsibility by donating to Special Children of SMK Saujana Utama in August The event was attended by over 100 special children and teachers. On behalf of Glomac, I was also personally involved in contributing to Sekolah Teknik Shah Alam school PIBG s fund in October The fund was held to honour students who have excellent achievements in academic as well as co-curriculum. Glomac continues its effort to pledge for the betterment of society by dedicating resources to support programs that positively impact its various communities. With this in mind, Glomac has donated to Malaysia Press Institute (MPI) in conjunction with Malam Wartawan Malaysia 2009 as well as Persatuan Pandu Puteri Malaysia, Cawangan Selangor in conjunction with the Karnival 2009 Persatuan Pandu Puteri Malaysia. The Group has also generously bestowed space located in Kompleks Kelana Centre Point to St. Johns Ambulance Malaysia Kawasan Selangor Utara Training Centre since 2006 to facilitate trainings for the staff of St. John Ambulance. Since 2001, Glomac has supported the Edge-Bursa Malaysia Kuala Lumpur Rat Race. This is an annual charity event which serves as a platform for Corporate Malaysia to come together to help the needy in a novel way. We applaud the organising of such events as it not only delivers network access to underserved population, it also engages our employees to devote their personal time and energy to a variety of worthy causes. 19

22 Chairman s Statement (cont d) Glomac has always been supporting community charities and forging relations with local educational institutions. In the past three years, Glomac has been participating in the New Straits Times School Sponsorship Programme. Two schools each in Bandar Saujana Utama and Sri Saujana were chosen to receive complimentary newspapers as an effective method to cultivate reading habits for students as well as to improve their proficiency in English, and ultimately raise the academic bar of excellence. The holy month of Ramadhan marks the fasting month for Muslims. It is also a time to give alms to the needy and less fortunate. To make the fasting month more meaningful, Glomac continued with its tradition by having its annual Breaking Fast with Anak Yatim of Rumah Aman. The children of Rumah Aman were treated to a sumptuous dinner, were given school uniform as well as green packets. ACKNOWLEDGEMENT This year, Glomac celebrate its 21st anniversary. Glomac has worked tirelessly in the last two decades to develop quality properties and property projects that enable communities to flourish. I am indeed very proud to reflect on our admirable track record which includes transforming Kelana Jaya into a vibrant satellite city; the development of Bandar Saujana Utama into a thriving township; and giving Petaling Jaya residents the first-of-its-kind gated and guarded community with Aman Suria Damansara. From building our first high-end condominium, Prima 16, in Section 16 of Petaling Jaya, the Group has advanced to develop our first luxury condominium, Suria Stonor, in the prestigious vicinity of KLCC. Our latest crown jewel is Glomac Tower, which is our first commercial high-rise in the heart of Kuala Lumpur. To celebrate the auspicious occasion of Glomac s 21st anniversary, the Group is giving away 21 great rewards to our property purchasers. Beyond the incentives already offered in the earlier marketing programme, we are offering additional rewards such as free stamp duty on transfer, loyalty schemes, extended warranty period, early bird discount, as well as gifts like LCD television, kitchen appliance, house grilles and one year clubhouse membership, among others. I wish to convey a heartfelt thank you to all Glomac property customers who have supported the Group throughout these years. Your faith in us has and will continue to inspire us to reach for greater heights. Glomac s achievements would not be possible if not for the dedication and commitment of our management staff and employees. On behalf of the Board of Directors, I would like convey our deepest appreciation to every member of the Glomac family. We hope every member will continue to be with the Group as move towards the third decade of our journey. Of course, Glomac s successes cannot be realised without the valuable assistance from business associates, bankers, contractors, consultants, the mass media and authorities. I too look forward to your continuous support. To my fellow Board members, I am honoured to have shared this journey with you for the past two decades. As we embark on another exciting decade, I trust that your counsel and friendship will remain steadfast. I look forward to Glomac achieving greater success in building better communities for Malaysia for decades to come. Tan Sri Dato F.D. Mansor Group Executive Chairman 10 August

23 Bandar Saujana Utama 21

24 Saujana Rawang - Zanti Double Storey Terrace 22

25 Perutusan Pengerusi Para pemegang saham yang dihargai, Bagi pihak Lembaga Pengarah, saya dengan sukacitanya membentangkan Laporan Tahunan dan Penyata Kewangan Kumpulan bagi tahun kewangan yang berakhir pada 30 April MAKLUMAT ASAS KEWANGAN Sungguhpun kedudukan ekonomi dunia bermasalah dan tidak menentu, saya berbesar hati untuk melaporkan bahawa Glomac sekali lagi berjaya menjadikan tahun ini satu tahun yang menguntungkan, dan ini mempamerkan keutuhan kami dalam prestasi keuntungan sebagai satu syarikat awam berhad yang disenaraikan di Bursa Malaysia Securities Berhad ( Bursa Sekuriti ). Kumpulan mencatatkan juta keuntungan pada tahun kewangan ini, iaitu anjakan sebanyak 6.5% dari juta yang dilaporkan pada tahun kewangan sebelumnya. Anjakan pendapatan ini adalah hasil dari jualan-jualan untuk projekprojek yang sedang berjalan seperti Suria Stonor dan projek-projek perbandaran baru di Bandar Saujana Utama dan Saujana Rawang. Kumpulan juga meraih sumbangan-sumbangan pendapatan awal dari Glomac Galleria, Seri Bangi dan Glomac Tower, pembangunan menara pejabat utama kami yang baru di Kuala Lumpur City Centre. Keuntungan sebelum cukai bertambah sebanyak 12% kepada 56.2 juta berbanding dari 50.2 juta bagi tahun sebelumnya. Prestasi keuntungan yang lebih tinggi ini diperolehi melalui projekprojek yang menjanjikan kadar keuntungan yang lebih tinggi seperti Glomac Galleria dan Glomac Tower, di mana kerja-kerja pembinaannya telah dapat dilaksanakan dengan lancar di tahun lalu. Di samping itu, keuntungan sebelum cukai kami turut merangkumi pendapatan yang memuaskan sebanyak 4.4 juta dari jualan Wisma Glomac 3, salah satu hartanah pelaburan kami dalam pembangunan komersial Kompleks Kelana Centre Point. Keuntungan yang lebih baik untuk tahun berkenaan sebahagiannya telah dicacatkan oleh kerugian yang lebih tinggi dari bahagian pembinaan Kumpulan, ekoran dari lonjakan mendadak dalam harga bahan-bahan utama pembinaan. Bahagian tersebut merekodkan kerugian sebanyak 3.0 juta dalam tahun kewangan 2009, berbanding dengan 0.8 juta pada tahun sebelumnya. Sealiran dengan amalan laporan kewangan berhemah, kami telah memutuskan untuk mengambilkira kesan kerugian dalam sub bond berbentuk obligasi pinjaman bercagar (collaterised loan obligation) kami, yang berjumlah 7.4 juta pada tahun lalu. Hak minoriti untuk tahun ini lebih tinggi kerana sumbangan yang tinggi dari pemilikan 51% Glomac Tower. Ekoran dari itu, keuntungan bersih menurun sebanyak 8.8% kepada 32.0 juta dari 35.1 juta yang dicapai pada tahun lalu. Kumpulan merekodkan pendapatan sesaham (EPS) sebanyak 11.4 sen (berdasarkan asas saham wajaran sebanyak juta) dalam tahun kewangan 2009, berbanding dengan pendapatan sesaham sebanyak 13.6 sen pada tahun kewangan 2008 (berdasarkan asas saham wajaran sebanyak juta). Prestasi kewangan yang terus kekal meningkat ini juga telah mengakibatkan penurunan yang ketara dalam kedudukan nisbah pinjaman bersih (net gearing position) Kumpulan, yang menurun dari 72% pada akhir April 2007 kepada 12% pada April Sebagai makluman, ini tidak mengambilkira perolehan-perolehan dari jualan Wisma Glomac 3 dan Blok B Glomac Business Centre. Pelupusan keduadua bangunan ini akan meningkatkan jumlah tunai lebih daripada 72 juta, yang akan mengukuhkan lagi kunci kira-kira Kumpulan, dan seterusnya menambahkan lagi modal pusingan untuk menyokong aktiviti-aktiviti pembangunan hartanah yang lebih besar, di samping dapat membiayai pemilikan tanah-tanah pembangunan. DIVIDEN Pihak Lembaga kami mencadangkan dividen kasar akhir sebanyak 3.5 sen ditolak 25% cukai bagi tahun kewangan yang berakhir pada 30hb April Dengan kejayaan penjualan hartanah tersebut yang telah dibuat pada tahun 2009, Lembaga Pengarah telah mencadangkan pembayaran Dividen Khas (Special Dividen) sebanyak 1sen sesaham setelah ditolak cukai sebanyak 25%,termasuk dividen interim sebanyak 2.5sen sesaham yang dikecualikan daripada cukai yang telah dibayar pada bulan Mei Sekiranya cadangan Dividen Khas ini diluluskan, ia akan menjadikan jumlah keseluruhan pembayaran dividen Glomac bagi tahun kewangan berakhir 2009 berjumlah 7sen sesaham berbanding jumlah dividen sebanyak 5 sen sesaham yang dikecualikan cukai yang telah dibayar pada tahun kewangan berakhir MAKLUMAT ASAS UNTUK TAHUN KEWANGAN YANG BERAKHIR PADA 30 APRIL juta /- (%) Pendapatan Keuntungan Sebelum Cukai Untung Bersih Pendapatan Sesaham (sen)* * Berdasarkan asas saham wajaran sebanyak juta bagi Tahun Kewangan 2009 dan juta bagi Tahun Kewangan Dengan mengambil kira dividen interim sebanyak 2.5 sen sesaham yang dikecualikan cukai dibayar dalam bulan Mei 2009, jumlah dividen Glomac bagi tahun kewangan yang berakhir pada 2009 mencakupi 6 sen sesaham, atau sebanyak 7% kadar dividen kasar, jika cadangan dividen akhir diluluskan. Ini berbanding dengan 5 sen sesaham yang dikecualikan cukai yang dibayar pada tahun kewangan yang berakhir pada

26 Perutusan Pengerusi (samb ) Kumpulan sentiasa memperuntukkan pulangan dividen yang bermakna kepada para pemegang saham, sambil memperuntukkan jumlah simpanan yang mencukupi untuk memelihara pertumbuhan dalam aktiviti-aktiviti pembangunan utama. Sehingga kini, kami berjaya mencatatkan rekod pembayaran dividen yang berterusan sejak disenarai-awamkan dalam bulan Jun Hasrat kami adalah untuk mengekalkan rekod keuntungan yang kukuh demi untuk memberikan pulangan berterusan kepada para pemegang saham melalui pembayaran dividen yang baik dan sentiasa meningkat. LATARBELAKANG OPERASI Setelah tiga tahun berturut-turut menikmati pertumbuhan yang menggalakkan, ekonomi Malaysia mencatatkan peningkatan yang lebih rendah iaitu 4.7% pada 2008 berbanding 6.3% pada Peningkatan yang lebih tinggi dalam separuh penggal pertama disurutkan oleh penurunan runcing dalam kegiatan ekonomi yang diakibatkan oleh krisis gadai janji subprima di Amerika Syarikat. Ia telah memberi kesan terhadap pasaran-pasaran kewangan global, dan seterusnya merebak kepada ekonomi sebenar. Malaysia akhirnya merekodkan kejatuhan dalam pertumbuhan KDNK sebanyak -6.2% dalam suku penggal pertama tahun Isu-isu utama seperti kenaikan hargaharga minyak dan tekanan inflasi pada peringkat awal tahun 2008 menyebabkan berlaku kebimbangan terhadap kejatuhan yang ketara dalam kadar pertumbuhan pada peringkat akhir tahun berkenaan. Susulan dari itu, Bank Negara telah menurunkan kadar-kadar faedah asasnya untuk mendorong pertumbuhan. Kadar Dasar Semalaman (Overnight Policy Rate) telah diturunkan sebanyak 150 mata asas kepada 2% dalam bulan November 2008, yang mengakibatkan Kadar Berian Pinjaman Asas (Base Lending Rate) menurun dari kadar purata 6.75% kepada 5.55% pada masa ini. Jualan hartanah di Malaysia begitu laris dalam separuh penggal pertama tahun 2008 di mana nilai transaksi hartanah perumahan melonjak 35.5% setahun, tetapi menguncup sehingga 3.0% dalam separuh penggal kedua tahun berkenaan. Keseluruhannya sektor hartanah domestik masih mencapai pertumbuhan sepanjang tahun. Pusat Maklumat Hartanah Negara, dalam laporan Pasaran Hartanah Malaysia 2008, menyatakan bahawa traksaksi hartanah meningkat sebanyak 9.9% kepada 340,240 di tahun 2008 berbanding 309,455 di tahun Nilai transaksi meningkat sebanyak 14.5% kepada bilion dari bilion. Situasi-situasi ekonomi sebegini telah memberi kesan yang negatif terhadap persekitaran operasi kami. Walaupun kos bahan-bahan pembinaan telah stabil, daya rangsangan pemulihan ekonomi memainkan peranan penting dalam menentukan arahtuju strategik terdekat bagi aktiviti-aktiviti pembangunan kami. ULASAN OPERASI Pembangunan Hartanah Bahagian pembangunan hartanah Kumpulan telah menempuh pelbagai cabaran sepanjang tahun kewangan yang berakhir pada April Harga bahan-bahan binaan utama yang semakin meningkat seperti simen dan besi telah memberi tekanan terhadap kadar-kadar keuntungan, dan keyakinan para pembeli terus menurun apabila krisis kewangan global berlaku dan ini menjadikan suasana ekonomi semakin tidak menentu. Berlandaskan kedudukan ini, Kumpulan telah membuat keputusan strategik untuk menangguhkan kegiatan pelancaran hartanah-hartanah baru dan menumpukan kepada penyiapan segera projekprojek yang sedang dilaksanakan. Kami berbangga kerana telah berjaya menambah tiga lagi projek baru ke dalam portfolio pembangunan kami sepanjang tempoh kewangan tahun 2008, iaitu Glomac Tower, bangunan komersial utama kami di kawasan kejiranan utama Kuala Lumpur City Centre, Glomac Galleria, projek komersial di Sri Hartamas yang pesat membangun, dan Seri Bangi, projek pembangunan campuran di Bandar Baru Bangi. Dalam tahun kewangan 2009 yang baru berakhir, Kumpulan telahpun menguruskan dua belas projek pembangunan secara serentak, dan sebagai bukti keutuhan pembangunan dan pengurusan kami, kesemua projek yang dalam perlaksanaan telah siap mengikut jadual atau sedang dalam proses untuk siap sepertimana yang dijadualkan. Suria Stonor, projek kondominium mewah di tengah kota, telah diserahkan secara rasmi kepada pemilik kediaman masing-masing pada Julai Kami juga berjaya melancarkan Pameran Glomac 360 o, satu kempen promosi yang berlangsung dari 20hb Mac hingga 30hb April 2009, yang mempamerkan produkproduk hartanah kami. Insentif-insentif seperti 100% pembiayaan bagi hartanahhartanah terpilih, pinjaman tanpa faedah semasa tempoh pembinaan, pemansuhan 24

27 yuran guaman ke atas Perjanjian Jual-Beli (SPA) dan dokumentasi pinjaman, serta program-program pembayaran mudah telah diberikan. Dari seluruh pengunjung pameran yang hadir memberi sokongan, kami berupaya menjadikan ramai dari kalangan mereka sebagai pemilik kepada hartanah-hartanah Glomac yang bermutu. Keseluruhannya, di sebalik persekitaran pasaran yang mencabar, Kumpulan berjaya memperoleh jualan-jualan baru berjumlah 172 juta dalam tahun kewangan yang berakhir pada April 2009, berbanding dengan 339 juta yang dicatatkan dalam tahun kewangan sebelumnya (tidak termasuk 577 juta jualan secara keseluruhan en-bloc Glomac Tower). Glomac Tower Pembinaan adalah mengikut jadual bagi projek komersial pertama kami di kawasan perdagangan paling dikehendaki di Kuala Lumpur, iaitu di persekitaran KLCC Petronas Twin Towers. Kerja-kerja substruktur, yang dimulakan pada April 2008, kini giat dijalankan dan dijangka siap dalam separuh penggal kedua Kerja-kerja pembinaan akan dimulakan kemudiannya dengan tempoh penyiapan sepenuhnya dalam tahun Sehingga kini, kami telah memperoleh hampir separuh dari jualan secara berkelompok yang dinilaikan sebanyak 577 juta, dan Glomac Tower akan terus menjadi penyumbang utama pendapatan dan aliran tunai kepada Kumpulan untuk tempoh dua tahun kewangan selanjutnya. Bandar Saujana Utama Perbandaran yang pesat membangun dan bereputasi ini adalah kebanggaan bagi Glomac. Sejak ditubuhkan satu dekad dahulu, hampir 1 bilion dari hartanahhartanah komersial dan kediaman telah berjaya dijual. Perbandaran ini kini amat dikenali dengan hab komersial yang merangkumi pasaraya mega, pusat belibelah dan bangunan pejabat-kedai, dan kemudahan awam yang komprehensif, termasuk sebuah pusat rumah kelab (clubhouse) khusus bagi penduduk setempat, sekolah-sekolah rendah dan menengah, balai polis, taman-taman permainan kanak-kanak dan pejabat pos, yang mana kesemuanya membawa keselesaan kepada lebih dari 3,000 orang penghuni yang mengimpikan kehidupan komuniti yang bermutu dalam perbandaran ini. Kami merasa terharu dengan maklumbalas bahawa Bandar Saujana Utama terus berkembang menjadi satu lokasi terpilih di daerah Sungai Buloh. Permintaan terhadap hartanah kediaman dan komersial bertaraf sederhana di perbandaran ini tetap menggalakkan, dan ia terus-menerus menjadi daya tarikan kepada pelbagai segmen pasaran, termasuklah di kalangan kakitangan kerajaan. Pembukaan kampus pengajian tinggi UiTM yang baru di kawasan kejiranannya sudah pasti akan melipat-gandakan permintaan terhadap hartanah kami. Kumpulan telah melancarkan hartanah-hartanah terkini dalam perbandaran ini dengan nilai melebihi 100 juta dalam tahun kewangan yang baru berakhir, dan merancang untuk melancarkan lagi produk-produk hartanah bagi menampung permintaan di masa hadapan. Projek-projek Dalam Perancangan Walaupun tiada tanda-tanda yang menunjukkan pemulihan ekonomi global yang jelas sehingga kini, namun keyakinan telah mula meningkat bahawa kemerosotan ekonomi yang teruk telahpun berlalu. Atas landasan ini, Kumpulan telah bersedia dengan projek-projek terkini untuk dilancarkan dalam usaha memperoleh jualan-jualan baru sebaik sahaja proses pemulihan ekonomi mula menampakkan kesan ketara. Glomac mempunyai hartanah-hartanah baru dengan Nilai Pembangunan Kasar (Gross Development Value) yang dianggarkan melebihi 1.4 bilion untuk dilancarkan. Glomac Damansara Glomac Damansara dianggap sebagai sebuah penempatan pegangan bebas di Kuala Lumpur yang berprestij di persekitaran utama Damansara. Dengan lokasi yang terletak di sepanjang Jalan Damansara yang strategik, pembangunan hartanah campuran ini mempunyai menaramenara pejabat, kedai-kedai pejabat, apartmen yang lengkap diselenggara, kedai-kedai butik dan suit-suit pejabat, yang kesemuanya dapat digabungkan menjadi satu ciptaan kehidupan yang sempurna dan harmoni, dengan komponen-komponen gaya-hidup yang bertemakan live-workplay. Projek ini memiliki Nilai Pembangunan Kasar (Gross Development Value) sebanyak 800 juta, yang akan dibangunkan dalam tempoh lima tahun lagi. Fasa pertama telah dilancarkan pada Mac 2009, yang mengandungi 12 blok 5 & 8 tingkat bangunan pejabat-kedai bernilai 53 juta. Dalam jangkamasa yang singkat ini, kami diberitahu bahawa maklum-balas awal terhadap projek ini amat positif, dengan 50% telah terjual. Serentak dengan itu, kami juga sedang memasarkan menara pejabat 15-tingkat secara jualan kelompok. 25

28 Perutusan Pengerusi (samb ) Glomac Cyberjaya Diperoleh pada 2008, tanah pegangan bebas seluas 8.1 ekar ini terletak dengan strategiknya dalam Cyberjaya Flagship Zone, yang menempatkan perbadananperbadanan multi-nasional seperti HSBC, IBM, DHL, BMW, Ericsson, NTT dan Fujitsu sebagai jiran-jiran korporatnya. Glomac Cyberjaya mengandungi bangunan pejabat-kedai 3-tingkat dan sebuah Pusat Data & Panggilan dengan anggaran Nilai Pembangunan Kasar (Gross Development Value) sebanyak 180 juta. Fasa pertama yang mengandungi 39 buah pejabatkedai bernilai 64 juta telah dibuka untuk pendaftaran pada Mac 2009, dan dilancarkan pada Jun Kami percaya projek kami akan menjadi yang pertama di Cyberjaya yang menawarkan bangunan pejabat-kedai 3-tingkat untuk dijual. Pusat Data & Panggilan kami yang bernilai 75 juta juga telah siap untuk jualan. Lain-lain Projek Dua projek lain yang dirancang untuk dilancarkan termasuklah pembangunanpembangunan komersial dalam Mutiara Damansara dan Kelana Jaya yang mewakili kawasan-kawasan pesat membangun. Projek komersial kami di Mutiara Damansara, dengan anggaran Nilai Pembangunan Kasar sebanyak 250 juta, akan dibangunkan di atas 1.3 ekar tanah pegangan bebas yang kami peroleh dalam tahun Pembangunan ini yang dikelilingi hub-hub komersial seperti IKEA, Tesco dan the Curve, akan merangkumi ruang-ruang kedai, suit-suit pejabat dan sebuah pejabat korporat. Terletak di atas tanah tinggi yang berhadapan dengan Lebuhraya Damansara-Puchong dan Kerinchi Link, projek ini kelak akan menjadi mercu tanda yang terserlah dan disegani di Mutiara Damansara. Plaza Kelana Jaya, dengan kawasan pejalan kaki tepi tasik yang mengkagumkan, telah menjadi pembangunan komersial yang berjaya bagi Kumpulan. Sehingga kini, sebanyak 122 juta pejabat-kedai telah dijual. Para pemilik hartanah ini turut berkongsi kejayaan, di mana hartanah mereka berupaya meraih pulangan sewa yang tinggi iaitu sebanyak 8 % dengan anggaran kadar peningkatan nilai hartanah sebanyak 50 % berbanding dengan harga semasa pelancaran. Untuk mengambil kesempatan dari kejayaan pembangunan hartanah ini, kami sedang merancang untuk melancarkan fasa keempat Plaza Kelana Jaya. Pembangunan ini akan dibina di atas tanah pegangan bebas seluas 3.2 ekar, yang mengandungi sebuah blok pejabat, pusat beli-belah dan suit-suit pejabat. Nilai Pembangunan Kasar (Gross Development Value) bagi projek ini adalah dalam lingkungan 250 juta. Pengurusan dan Pelaburan Hartanah Bahagian Pengurusan Hartanah kami, di bawah Glomac Property Services Sdn Bhd, menguruskan lebih dari 3,000 unit hartanah kediaman dan komersial. Bahagian ini memberi tumpuan secara berterusan dalam mempertingkatkan dan memperbaiki portfolio hartanah pelaburan kami selaras dengan usaha untuk mencapai pulanganpulangan yang lebih tinggi dan peningkatan kadar nilai hartanah yang lebih baik. Kami berbesar hati untuk melaporkan bahawa secara puratanya, kadar kependudukan bagi ruang komersial Kumpulan yang meliputi 276,000 kaki persegi telah kekal baik pada tahap 90%. 26

29 Plaza Glomac 2. Plaza Glomac 3. Glomac Galleria 4. Glomac Tower 5. Suria Residen 6. Glomac Cyberjaya 7. Glomac Al Batha Mutiara

30 Perutusan Pengerusi (samb ) Pada Februari 2009, usaha-usaha kami akhirnya membuahkan hasil apabila Glomac memeterai perjanjian untuk menjual Wisma Glomac 3 kepada Perbadanan Nasional Berhad dengan harga 50 juta. Hartanah ini merupakan sebahagian dari Kompleks Kelana Centre Point (KKCP), yang terletak di Kelana Jaya. Ia merupakan salah satu dari tiga blok menara pejabat 13-tingkat di dalam KKCP. Dengan mengambilkira situati-situasi pasaran yang mencabar, kami merasa amat berbesar hati kerana berupaya membuat penjualan pada nilai harga yang memuaskan dan ini membuktikan ketinggian daya tarikan hartanah pelaburan tersebut. Penjualan Wisma Glomac 3 dijangka dapat diselesaikan dalam tahun kewangan semasa dan akan meningkatkan pulangan sebanyak 4.4 juta. Pada bulan Ogos 2009 baru-baru ini, kami teleh memeterai transaksi penjualan aset kepada Koperasi Kakitangan Bank Rakyat Berhad dengan harga pertimbangan bernilai 22.6 juta. Penjualan Blok B, Glomac Business Centre (GBC) ini adalah pelupusan secara jualan kedua Glomac pada tahun ini.gbc merupakan pembangunan komersial pertama Glomac di Kelana Jaya yang telah siap dibina pada tahun Blok B terdiri daripada 9 tingkat bangunan pejabat dengan keluasan ruang boleh sewa ( lettable ) sebanyak 48,814 kaki persegi. Pelupusan daripada penjualan hartanah ini akan menghasilkan perolehan kira-kira 4.6 juta. Dalam keadaan pasaran yang sangat mencabar ini, kami amat gembira kerana telah dapat menjual kedua-dua hartanah tersebut dengan nilai pasaran yang berpatutan, sekaligus meningkatkan kemampuan Glomac dalam melaksanakan strategi pasaran bagi meningkatkan pelaburan serta menguatkan keyakinan pelabur terhadap kualiti serta nilai hartanah komersial Glomac. Kumpulan akan meneruskan amalannya yang ketat dalam memperbaiki dan menyelenggara hartanah-hartanah pelaburan kami, dengan meletakkan mereka dalam keadaan yang sentiasa baik untuk mencapai kadar kependudukan yang tinggi dengan pulangan-pulangan yang baik. Amalan ini tentunya akan dapat memelihara nilai pasaran hartanah-hartanah berkenaan, dan memberikan kami fleksibiliti untuk menjual hartanah-hartanah pelaburan yang kurang penting jika peluang menyusul kelak. Pembinaan Kami memiliki pandangan yang berwaspada mengenai sektor pembinaan. Selaras dengan itu, kami mengambil langkah untuk mengurangkan aktiviti pembinaan pada tahun lepas. Walaupun kami mempunyai beberapa projek pembinaan luaran yang harus disiapkan, kami memutuskan untuk tidak meneroka kontrak-kontrak baru dan memberi tumpuan untuk menyalurkan sokongan kepada bahagian pembangunan hartanah Kumpulan. Kedudukan sektor pembinaan semakin bertambah baik dengan harga bahanbahan binaan semakin stabil dan adanya rancangan-rancangan rangsangan ekonomi oleh kerajaan. Walau bagaimanapun kami kekal berwaspada, dan akan meneliti sepenuhnya sebelum mengambil kontrakkontrak pembinaan luaran yang baru. Pengurusan Tempat Letak Kereta Bahagian Pengurusan Tempat Letak Kereta, di bawah Excel Parking, kini menguruskan tempat-tempat letak kereta di menaramenara pejabat, pusat-pusat komersial dan beli-belah, hotel serta kawasan-kawasan terbuka. Keseluruhannya, kami sekarang menguruskan lebih dari 8,000 kenderaan sehari di Lembah Klang. PEMBANGUNAN KORPORAT Perlantikan Ketua Pegawai Eksekutif Kumpulan Saya merasa berbesar hati untuk memaklumkan bahawa pada 24hb Mac 2009, Dato F.D. Iskandar bin Tan Sri Dato F.D. Mansor telah dilantik oleh Lembaga Pengarah sebagai Ketua Pegawai Eksekutif Kumpulan, jawatan yang sebelum ini dipegang oleh saya. Saya akan terus memberikan sokongan kepada Lembaga dan berkhidmat untuk Kumpulan melalui kapasiti saya sebagai Pengerusi Eksekutif Kumpulan. Dato F.D. Iskandar mula menyertai Kumpulan pada Beliau pada awalnya telah dilantik ke dalam Lembaga pada 1997, dan kemudiannya menyandang tugas sebagai Pengarah Urusan Kumpulan pada Beliau telah mengukir pengalaman yang bernilai selama beberapa tahun dalam operasi harian serta perancangan strategik Glomac. Rakan-rakan sekerja dan saya sendiri memiliki kepercayaan yang tinggi bahawa Dato F.D. Iskandar mempunyai ciriciri yang sesuai untuk terus mengukuhkan kejayaan-kejayaan Glomac, dan memimpin Kumpulan ke tahap-tahap yang lebih tinggi sebagai Ketua Pegawai Eksektuif Kumpulan. Para ahli Lembaga dan saya yakin beliau akan terus cemerlang dalam tugas barunya. 28

31 Perlantikan Pengarah Bukan Eksekutif Bebas Tambahan Saya juga mengambil kesempatan ini untuk merakamkan ucapan selamat datang kepada Datuk Ali Tan Sri Abdul Kadir ke dalam Lembaga Glomac. Pada 20hb Februari 2009, Datuk Ali Tan Sri Abdul Kadir telah dilantik sebagai pengarah bukan eksekutif bebas Kumpulan. Pada tarikh yang sama, Datuk Ali Tan Sri Abdul Kadir juga telah dilantik sebagai ahli jawatankuasa audit Kumpulan. Perlantikan beliau ke dalam jawatankuasa adalah untuk mengisi kekosongan jawatan, susulan perletakan jawatan Datuk F.D. Iskandar sebagai ahli jawatankuasa audit Kumpulan pada 30hb Januari Pada 24hb Januari 2009, Datuk Ali Tan Sri Abdul Kadir telah diberi perlantikan baru sebagai Pengerusi jawatankuasa audit Kumpulan, menggantikan Senator Dato Hj. Ikhwan Salim Dato Hj Sujak, yang telah diberi perlantikan baru sebagai ahli jawatankuasa audit. Datuk Ali Tan Sri Abdul Kadir membawa bersama-sama beliau pengalaman yang luas di bidang perakaunan, di mana beliau sebelum ini adalah Rakan Kongsi dan Pengerusi Eksekutif Ernst and Young, serta penglibatan beliau dalam pengurusan pasaran modal melalui tugasnya sebagai Pengerusi Securities Commission of Malaysia. Saya mengalu-alukan nasihat dan sumbangan beliau yang tidak ternilai kepada Lembaga. Cadangan Jualan Wisma Glomac 3 Pada 11hb Februari 2009, anak syarikat penuh Glomac, Kelana Centre Point Sdn Bhd, memeterai Perjanjian Jual-Beli dengan Perbadanan Nasional Berhad bagi penjualan Wisma Glomac 3, blok pejabat 13-tingkat yang terletak dalam pembangunan komersial yang dikenali sebagai Kompleks Kelana Centre Point ( KKCP ) pada harga 50 juta. KKCP merupakan pembangunan komersial campuran dalam lokasi yang strategik di Kelana Jaya yang mengandungi Blok A (380 unit pejabat-kedai dalam kompleks 10-tingkat) dan Blok B, C dan D (tiga blok menara pejabat 13-tingkat). Penjualan ini, apabila selesai kelak, akan menambah pulangan sebanyak 4.4 juta. PENTADBIRAN KORPORAT Para ahli Lembaga Pengarah Glomac sedia maklum kepentingan pentadbiran korporat dalam menyemai keyakinan di kalangan para pemegang saham dan pelabur dalam Kumpulan. Semenjak penyenaraian Kumpulan dalam tahun 2000, Lembaga anda telah bertungkus-lumus memastikan kepatuhan Glomac terhadap prinsipprinsip dan amalan-amalan cemerlang Kod Pentadbiran Korporat Malaysia. Adalah menjadi matlamat Lembaga untuk sentiasa berusaha ke arah tahap pentadbiran korporat yang lebih tinggi. Dengan mengambilkira hal ini, saya ingin memaklumkan kepada para pemegang saham bahawa dalam tahun kewangan 2009 yang baru sahaja berakhir, tugastugas Pengerusi Eksekutif Kumpulan Glomac dan Ketua Pegawai Eksekutifnya telah diasingkan. Lembaga anda menyedari potensi berlakunya konflik hak disebabkan penggabungan dua tugas berlainan yang disandang oleh individu yang sama. Dengan itu, demi mendokong pentadbiran korporat yang baik, Lembaga anda telah memutuskan untuk memisahkan dua tugas berkenaan bagi memastikan kejelasan kuasa dan tanggungjawab. Susulan dari itu, pada 24hb Mac 2009, saya telah melepaskan jawatan sebagai Ketua Pegawai Eksekutif Glomac. Jawatan ini telahun disandang oleh Dato F.D. Iskandar bin Tan Sri Dato Mohamed Mansor, sementara saya kekal sebagai Pengerusi Eksekutif Kumpulan. Dengan perlantikan Datuk Ali Tan Sri Abdul Kadir ke dalam Lembaga, jawatankuasa audit Glomac kini mengandungi tiga orang pengarah bukan eksekutif bebas, selari dengan Syarat-syarat Penyenaraian Pasaran Utama Bursa Sekuriti Bab 15.9(6) yang menyatakan bahawa kesemua ahli jawatankuasa audit mestilah dari kalangan pengarah bukan eksekutif, dengan majoritinya adalah para pengarah bebas. Perhubungan Pelabur Glomac juga menekankan kepada keperluan ketelusan korporat, komunikasi yang berkesan serta penyampaian maklumat yang cekap kepada para pemegang saham dan pelabur awam. Selain dari Laporan Kewangan kami, yang memberi ulasan tentang prestasi operasi dan kewangan Kumpulan, serta pelbagai pengumuman yang dibuat ke Bursa Sekuriti, Glomac turut menyediakan seksyen perhubungan pelabur yang dedikasi dalam laman web kami, www. glomac.com.my. Seksyen ini merupakan pengkalan maklumat yang berkaitan untuk para pelabur dan pemegang saham yang mana antara lainnya mengandungi maklumat kewangan dan saham, maklumat dividen serta pelbagai pengumuman bagi bursa saham. Kami mengalu-alukan anda untuk melayari seksyen ini yang dikemaskini dari masa ke semasa. 29

32 Perutusan Pengerusi (samb ) Pelbagai program perhubungan pelabur yang lain lagi telah dilaksanakan bagi komuniti pelabur untuk mengemaskinikan mereka dengan perkembangan korporat dan prestasi kewangan Glomac. Seiring dengan itu, Glomac menganjurkan taklimat-taklimat kepada para penganalisa dan pengurus dana mengenai keputusankeputusan kewangan Kumpulan yang dikeluarkan setiap suku tahun. Kumpulan mengambil pendekatan yang pro-aktif dalam mendekati komuniti pelabur melalui perjumpaan kumpulan-kumpulan kecil, jamuan makan tengahari dan mengambil bahagian dalam pameran bergerak serta persidangan pelabur yang dianjurkan oleh syarikat-syarikat broker saham di Malaysia dan juga di luar negara dalam usaha untuk memperkenalkan Kumpulan kepada para pelabur tempatan dan asing. Aktiviti-aktiviti ini selalunya diterajui oleh para pengarah eksekutif Glomac, yang dibantu oleh pengurus perhubungan pelabur kami. PROSPEK-PROSPEK Situasi selama 18 bulan yang lepas tidak menenangkan bagi pasaran kewangan dan ekonomi dunia. KDNK Malaysia dalam beberapa penggal yang lepas mencatatkan pertumbuhan yang perlahan, dan terus merosot pada penggal terakhir yang dicatatkan. Namun, tanggapan pasaran merumuskan ekonomi Malaysia dijangka kekal rendah pada penggal pertama tahun 2009, dan pertumbuhan KDNK dijangka akan bertambah baik di penggalpenggal yang berikutnya berdasarkan petanda-petanda utama seperti pemulihan berterusan dalam eksport dan pengeluaran industri. Sepanjang jangkamasa ini, adalah memberangsangkan untuk melihat usaha kerajaan yang pro-aktif dalam memperkenalkan pelbagai langkah bagi mengatasi kemerosotan ekonomi, khususnya dua pakej rangsangan yang berjumlah 67 bilion. Kerajaan juga telah memperbaiki sistem perlaksanaannya dalam memastikan proses implementasi yang pantas untuk projek-projek yang telah dikenalpasti di bawah pakej-pakej berkenaan. Terdapat juga langkah-langkah khas yang diambil oleh kerajaan untuk meningkatkan jualan hartanah. Polisi kewangan yang telah dilonggarkan telah memperbaiki kecairan dan menjadikan pembelian-pembelian hartanah dalam kemampuan para pembeli. Satu lagi langkah yang diperkenalkan adalah peruntukan kredit untuk cukai sehingga 10,000 setahun bagi tempoh tiga tahun pertama ke atas faedah pinjaman perumahan bagi hartanah-hartanah baru di antara Mac 2009 dan Mac Keadaan ekonomi keseluruhannya telah memperlihatkan tanda-tanda kestabilan, dan dengan langkah-langkah positif ini kami menaruh harapan akan berlaku pemulihan yang berterusan terhadap keyakinan pasaran dan suasana perniagaan. Walau apapun, Glomac tidak akan berganjak dari kewaspadaan kami dalam kawalan kos dan pendisiplinan kewangan, penyiapan produk-produk hartanah mengikut jadual dan kelicinan perlaksanaan pelan-pelan perniagaan kami. Ini adalah untuk memastikan Kumpulan berada di kedudukan yang baik untuk mengambil kesempatan dari potensi ekonomi yang semakin mengukuh dan sentimen yang lebih baik dalam sektor hartanah. Setelah banyak membuat perancangan, saya berbesar hati untuk memaklumkan bahawa Glomac sedang bersiap sedia untuk melancarkan projek-projek baru kami yang berpotensi untuk menjana sebanyak 1.4 juta dalam Nilai Pembangunan Kasar (Gross Development Value). Terbangunnya hartanah-hartanah di Glomac Damansara dan Glomac Cyberjaya, dan hartanahhartanah komersial di Mutiara Damansara dan Fasa 4 Plaza Kelana Jaya, akan memastikan Glomac terus kekal menyerlah di pasaran, dengan produk-produk yang baru dan berinovatif untuk memenuhi permintaan pasaran. Kami berbangga dengan pembangunan-pembangunan hartanah yang berprestij ini, yang berpotensi untuk menjadi mercu-mercu tanda dalam lokasi-lokasi yang sangat dikehendaki ini. Adalah amat memberangsangkan untuk melihat corak arah tuju jualan Kumpulan yang semakin meningkat sejak April Melangkah maju ke hadapan, tidak syak lagi projek-projek baru ini akan merancakkan lagi pertambahan portfolio pembangunan kami yang akan terus mengekalkan pertumbuhan jualan keseluruhan, dan selanjutnya akan menjana keuntungankeuntungan yang baik dalam tahun kewangan semasa dan di masa hadapan. TANGGUNGJAWAB SOSIAL KORPORAT Tanggungjawab sosial korporat merupakan bahagian penting wawasan Glomac dalam membina bukan sahaja rumah kediaman dan kedai pejabat malah juga komuniti bagi pemilik-pemilik rumah. Tanggungjawab sosial korporat mempunyai pengaruh yang kuat dalam proses membuat keputusan bagi kumpulan. Falsafah kami adalah untuk menyumbang, dimana sebagai warga korporat yang bertanggungjawab, dalam merealisasikan sebuah masyarakat yang lebih makmur dengan menggunakan asetaset serta keupayaan syarikat. 30

33 Plaza Glomac 31

34 Perutusan Pengerusi (samb ) Glomac telah mempunyai trek rekod yang lama dalam membantu masyarakat melalui pelbagai cara, terutamanya memberi pelbagai sumbangan terhadap program-program kebajikan. Kumpulan telah menunjukkan komitmen dan tanggungjawabnya dengan memberi sumbangan kepada Kanak-kanak Istimewa SMK SAUJANA UTAMA pada bulan Ogos Majlis tersebut telah dihadiri oleh lebih daripada 100 kanak-kanak istimewa dan para guru. Bagi pihak Glomac, secara peribadinya saya telah hadir menyerahkan sumbangan kepada Tabung PIBG, Sekolah Teknik Shah Alam pada bulan Oktober Dana itu telah dibuat bagi meraikan pelajar-pelajar yang mendapat keputusan cemerlang dalam bidang akademik serta bidang ko-kurikulum. Glomac meneruskan usahanya dalam membantu kearah masyarakat yang lebih baik dengan memberi bantuan kepada program-program yang memberi kesan positif kepada pelbagai kaum. Sehubungan dengan itu, Glomac telah memberi sumbangan kepada Institut Wartawan Malaysia (MPI) sempena Malam Wartawan Malaysia 2009 serta Persatuan Pandu Puteri Malaysia, Cawangan Selangor bersempena dengan Karnival Persatuan Pandu Puteri Malaysia Kumpulan juga dengan bermurah hati mendermakan tingkat bawah basement terletak dalam Kompleks Kelana Centre Point kepada St. Johns Ambulance Malaysia Kawasan Selangor Utara Training Centre sejak tahun 2006 bagi memudahkan program latihan untuk para pekerja St. John Ambulance. Glomac telah memberi sokongan kepada The Edge-Bursa Malaysia Kuala Lumpur Rat Race sejak tahun Ini merupakan acara amal tahunan yang menjadi platfom bagi syarikat korporat Malaysia dalam membantu golongan yang memerlukan. Kami merasakan acara ini bukan sahaja tempat untuk membina rangkaian di kalangan syarikat korporat malah para pekerja berpeluang menumpukan masa dan tenaga mereka terhadap kerja amal. Glomac sentiasa memberi sokongan terhadap kebajikan masyarakat serta institusi pendidikan tempatan. Sejak tiga tahun yang lepas, Glomac telah menyertai Program Tajaan surat khabar New Straits Times kepada para pelajar sekolah dari SMK Saujana Utama dan Sri Saujana telah dipilih bagi menerima akhbar-akhbar percuma sebagai satu cara efektif yang dalam memupuk tabiat membaca bagi para pelajar serta bagi meningkatkan kemahiran mereka dalam bahasa Inggeris, dan seterusnya meningkatkan kecemerlangan pencapaian akademik mereka. Bulan suci Ramadhan menandakan bulan puasa bagi umat Islam. Ia juga merupakan bulan yang baik untuk memberi zakat kepada golongan miskin dan kurang bernasib baik. Bagi meraikan bulan puasa dengan lebih bermakna, Glomac meneruskan acara tradisi tahunannya dengan mengadakan Majlis Berbuka Puasa dengan Anak Yatim Rumah Aman. Selain sumbangan kepada Rumah Aman, anak-anak yatim tersebut diraikan dengan hidangan makan malam yang istimewa serta pemberian pakaian seragam sekolah serta duit raya. PENGIKTIRAFAN Tahun ini, Glomac menyambut ulang tahunnya yang ke-21. Glomac telah berusaha dengan gigih dalam tempoh dua dekad ini melalui pembangunan projek-projek hartanah yang berkualiti bagi perkembangan komuniti masyarakat. Saya turut amat berbangga dengan rekod prestasi Glomac yang cemerlang termasuklah membuat perubahan terhadap kawasan Kelana Jaya kepada bandar satelit yang indah; membuat pembangunan terhadap Bandar Saujana Utama kepada sebuah perbandaran yang berkembang maju; serta menyediakan kediaman terawal yang berkonsepkan komuniti berpagar dan berpengawal iaitu Aman Suria Damansara kepada para penduduk Petaling Jaya. Bermula dengan membina kondominium mewah pertama kami iaitu Prima 16, di Seksyen 16 Petaling Jaya, Kumpulan semakin berkembang maju dengan membangunkan kondominium mewah pertama kami iaitu Suria Stonor, yang terletak di Pusat Bandar Kuala Lumpur. Projek yang menjadi lambang kemegahan terbaru kami iaitu Glomac Tower merupakan projek komersial bertingkat tinggi high-rise bertaraf Gred A di tengah Bandaraya Kuala Lumpur. Bagi meraikan Ulangtahun ke-21 Glomac, Kumpulan menawarkan 21 ganjaran hebat bagi para pembeli hartanah kami. Selain daripada insentif-insentif yang telah ditawarkan program pemasaran terdahulu, kami turut menawarkan ganjaran lain seperti adalah menawar ganjaran-ganjaran tambahan seperti percuma duti setem pindah milik, skim-skim kesetiaan, tempoh jaminan dilanjutan, diskaun pengunjung awal, serta hadiah-hadiah lain seperti televisyen LCD, peralatan dapur, gril rumah dan keanggotaan bagi rumah kelab selama setahun antaranya. 32

35 Saya ingin mengucapkan ribuan terima kasih yang tidak terhingga kepada semua pelanggan hartanah Glomac yang telah menyokong Kumpulan sepanjang tempoh ini. Kepercayaan anda terhadap kami akan membuatkan kami berusaha lebih gigih bagi memperolehi pencapaian yang lebih lebih baik. Pencapaian cemerlang Glomac tidak akan berlaku tanpa dedikasi dan komitmen daripada kakitangan pengurusan dan para pekerja kami. Bagi pihak lembaga pengarah, saya ingin menyampaikan penghargaan yang tidak terhingga kepada setiap wargakerja Glomac. Kami berharap setiap wargakerja Glomac akan terus berkhidmat dengan kami dimana Glomac mencapai dekad ketiga perjalanan kami. Tentunya, Glomac tidak mugkin mengecapi kejayaan tanpa bantuan daripada rakanrakan perniagaan, jurubank-jurubank, kontraktor-kontraktor, pakar runding, media masa dan pihak berkuasa. Saya amat mengharapkan sokongan yang berterusan daripada anda semua. Kepada ahli-ahli Lembaga Pengarah, saya amat berbesar hati untuk berkongsi perjalanan ini bersama anda dalam tempoh dua dekad yang lepas. Sebagai memulakan satu lagi dekad yang lebih menarik, saya percaya yang nasihat dan persabahatan akan kekal teguh. Saya mengharapkan Glomac akan mencapai kejayaan lebih besar dalam membuat pembangunan kepada masyarakat Malaysia untuk dekad yang akan datang. Bandar Saujana Utama - Regal Homes Tan Sri Dato FD Mansor Pengerusi Eksekutif Kumpulan 10 Ogos

36 Corporate Social Responsibility & Events NEWS STRAITS TIMES SCHOOL SPONSORSHIP PROGRAMME As a caring corporate citizen, Glomac Berhad s principal in doing business has always been giving back to the community. Hence, Glomac participated in the New Straits Times School Sponsorship Programme for the 3rd year in a row by providing newspapers to two schools each in Bandar Saujana Utama and Sri Saujana. This programme is a good way to encourage students to improve their proficiency in English. BREAKING FAST WITH ANAK YATIM Glomac continued with its tradition and commitment to its social responsibilities by having its annual Breaking Fast with Anak Yatim of Rumah Aman. The children were treated to a sumptuous dinner, and were given school uniform and green packets. Contribution was also given to Rumah Aman. DONATION TO SPECIAL CHILDREN OF SMK SAUJANA UTAMA Glomac has shown its commitment and responsibility towards a caring society by donating to Special Children of SMK Saujana Utama. Tan Sri Dato FD Mansor, the Group Executive Chairman officiated the event which was held at Saujana Utama Club House. Over 100 special children and teachers were in attendance. THE EDGE BURSA MALAYSIA KL RAT RACE 2008 For the 8th year, Glomac once again supported the Edge-Bursa Malaysia Kuala Lumpur Rat Race by sending a team to participate in the event. This annual charity event is a platform for Corporate Malaysia like Glomac to come together to help the needy in a novel way. Participating since 2001, Glomac sent in teams for the mix category and CEO race. DONATION TO SEKOLAH MENENGAH TEKNIK SHAH ALAM Glomac s commitment towards corporate social responsibility is deeply embedded in their corporate philosophy and the Group has made numerous donations to worthy causes. To consolidate the Group s charitable efforts, Tan Sri Dato FD Mansor, representing Glomac Berhad, has contributed to Sekolah Teknik Shah Alam school PIBG s fund. This ceremony was held to honour excellent students in the academic field and also in co-curriculum. Over 100 teachers and school students were present during the event. DONATION TO PERSATUAN PANDU PUTERI MALAYSIA, CAWANGAN SELANGOR Glomac made a contribution to Persatuan Pandu Puteri Malaysia, Cawangan Selangor in conjunction with the Karnival 2009 Persatuan Pandu Puteri Malaysia. DONATION TO MPI 2009 Glomac has donated to Malaysia Press Institute (MPI) in conjunction with Malam Wartawan Malaysia 2009 held at Hotel Istana, Kuala Lumpur on 31st March This event was officiated by Dato Seri Najib Tun Razak, Prime Minister of Malaysia. GLOMAC LENDS A HELPING HAND TO ST. JOHNS AMBULANCE Glomac generously provided space located in Kompleks Kelana Centre Point to St. Johns Ambulance Malaysia Kawasan Selangor Utara Training Centre since 2006, to facilitate their training for staffs of St John Ambulance. WOMEN ENTREPRENURS CARNIVAL 2008 An event jointly organised by Glomac and Islamic Da wah Foundation Malaysia (YADIM) was held at Bandar Saujana Utama, Sungai Buloh. The event was officiated by Dato Saifuddin bin Abdullah, Minister of Entrepreneur and Co-operative Development The two-day event was held to help single mothers in promoting their products. CUSTOMER APPRECIATION NIGHT OF PLAZA GLOMAC This event was held in appreciation to the purchasers of Plaza Glomac. The 200 guests in attendance were treated to a fusion buffet spread and a live band performance. 24TH ANNUAL GENERAL MEETING Held at Sime Darby Convention Centre, the AGM was well attended by over 200 shareholders and was followed by a media press conference. Glomac s AGM was held to provide its shareholders with the Group s financial performance and the latest corporate and property developments of the Group. SIGNING OF SALE AND PURCHASE AGREEMENT WITH PERBADANAN NASIONAL BERHAD Kelana Centre Point Sdn Bhd, a wholly owned subsidiary of Glomac Berhad, entered into a Sale and Purchase Agreement with Perbadanan Nasional Berhad for the sale of office space situated within the commercial development known as Kompleks Kelana Centre Point. LION DANCE 2009 In conjunction with the Chinese New Year Celebration, Glomac Berhad organised a Lion Dance performance by the Chung Wu Tai Chi Society at the Glomac Lobby. Directors and staffs were in attendance to witness this traditional event with an awesome display of gravity-defying feats given by the lion dance group. 34

37 THE PROPERTY EXTRAVAGANZA EVENT Bandar Saujana Utama, Sungai Buloh held a two-day event called the Extravaganza 2009 Campaign, to feature its properties. The event took place at the Bandar Saujana Utama, Sungai Buloh show village and the latest residential properties were featured, which were Lavender Homes & Courtyard Homes. The Single Storey Shops and Double Storey Shops, part of the commercial hub of this thriving township were also showcased. GLOMAC 360 SHOWCASE In conjunction with the Glomac 360 Showcase, Glomac Berhad organized a Press Brief event at Glomac Berhad Show Gallery in Kelana Jaya on 25th March Glomac 360 Showcase is the first ever property showcase which encompasses Glomac s wide spectrum of properties. This property showcase covered Glomac s broad range of properties, inclusive of the township development as well as Glomac s commercial development The Edge-Bursa Malaysia KL Rat Race 2. Breaking Fast with Orphans from Rumah Aman 3. Signing of Sale & Purchase Agreement with Permodalan Nasional Berhad 4. Women s Entrepreneur s Carnival at Bandar Saujana Utama 5. New Straits Times School Sponsorship Programme 6. 24th Annual General Meeting 7. Launch of 360 Showcase 8. Donation to Sekolah Menengah Teknik Shah Alam Plaza Glomac Customer Appreciation Night 10. Bandar Saujana Utama Property Extravaganza