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Gamuda Berhad (29579-T) • Annual Report 2012
Domestically, the property market showed signs
of gradual weakening since early 2012. Measures
introduced by Bank negara such as the 70% cap on
loan values for a third mortgage, and computation
of affordability based on net income instead of
gross income, have had its impact of cooling the
domestic market. notwithstanding this, the division
still achieved a level of domestic sales only slightly
lower than the previous year.
inFRAsTRuCTuRe ConCessions
As in the previous year, there has been very little
progress made on the water consolidation exercise
in the state. Both Federal and state Governments
have been unable to resolve their differences in
their respective approaches to consolidate the
industry in selangor. At the time of writing, there
has been no new developments although the
state Government has indicated that they will be
presenting a new proposal for the consolidation of
the selangor water industry.
our expressways division continued to achieve
gradual traffic volume growth as in previous years.
Compensation has been paid by the Government
for deferred toll increases as provided for under the
various highway concession agreements.
PRosPeCTs FoR
FinAnCiAl YeAR 2013
The Board anticipates that the upcoming FY2013
and beyond will indeed be exciting years for the
Group. With a sizeable construction order book,
a steadily growing property division and stable
concession earnings, total revenue build up for
the next few years is expected to be good. The
sBK line alone is expected to generate significant
construction activity and positive multiplier
effects in the country over the next five years.
The subsequent two new KVMRT lines which are
expected to be rolled-out by late 2013 will further
boost the sector and underpin strong domestic
demand which will cushion our domestic economy
from external uncertainties. Beyond the KVMRT
project, there are numerous other infrastructure
projects that the Government plans to implement,
with particular emphasis on rail-related projects.
indeed, sPAD has identified rail-based projects
totalling RM160 billion to be implemented up to
2020. Given our intense involvement and expertise
in rail-based projects in the country, the Board
remains confident that our Group will secure its fair
share of these future projects.
Besides pursuing domestic projects, the Group
also continues to seek out infrastructure
opportunities in neighbouring countries like
indonesia, Vietnam and more recently Myanmar.
These emerging countries are expected to spend
heavily on infrastructure expansion and upgrades
in the next decade, thereby presenting significant
opportunities for reputable and established
regional infrastructure groups like ourselves.