PETALING JAYA: UEM Sunrise Bhd is targeting to raise RM300mil from its asset disposal programme this year.

       According to its chief executive officer Sufian Abdullah, the group has earmarked RM300mil of potential assets for disposal that includes land, car parks and some office and residential units.

       “The land will be pockets of lands such as bungalow lots in Klang Valley and Johor, as well as some residential and commercial units,” he told reporters on Thursday after the group’s results briefing for the fourth quarter ended December 31, 2021 (FY21).

       As at Dec 31, UEM Sunrise’s unbilled sales stood at RM2.4bil and cash of RM900mil.

       It has a total landbank of 10,624 acres of which 90% is in Johor.

       Sufian said the group plans to keep its landbank that has the potential to turn into a township, and also review its current township master plans in Johor.

       Despite expecting a challenging property market this year, he said UEM Sunrise has targeted higher property sales of RM1.5bil and has earmarked new property development projects of RM3.3bil in gross development value (GDV).

       In FY21, UEM Sunrise booked higher property sales of RM1.46bil compared to RM1.13bil in FY20, exceeding the company’s target of RM1.2bil.