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Friday, March 27, 2015

Busy years ahead for Sentoria

KUANTAN: Theme park operator-cum-property developer Sentoria Group Bhd is set to see busy years ahead with its Borneo Samariang Resort City and Sentoria Morib Resort City projects, which are expected to be launched during its 2015 financial year.
The group’s joint-managing director Datuk Gan Kim Leong said Sentoria was fortunate to have acquired sufficient land in four areas – Kuantan, Morib, Kuching, Langkawi and Sungai Petani, with geographically diversified market catchments.
“We have enjoyed good response in Kuantan with our Bukit Gambang Resort City (BGRC), which has the best water theme park and one of the biggest safari parks in the country.
“Now, we plan to bring the same development concept to the other locations and should be able to obtain the same good response from the public,” he said after the group’s AGM.
Gan added that in the development within BGRC was the East Coast Bazaar (ECB), a new shopping concept of wholesale markets.
“ECB is at the gateway to a market of four million consumers on the east coast. The idea is to save travelling time for visitors to BGRC. Families can have a great time at our theme parks and at the same time enjoy a convenient environment to shop,” he said.
During the AGM, shareholders approved a final single-tier dividend of one sen per share, resulting in a payout of RM4.5mil on top of the earlier-paid dividend amounting to the same. The total payout of RM9mil amounted to 31% of Sentoria’s net profit for the financial year ended Sept 30, 2014 (FY14).
Sentoria said in a statement that the group’s FY14 revenue had increased by 5.3% to RM218.4mil from RM207.5mil in the previous year due to higher billings from property projects. The group’s pre-tax profit, however, saw a decrease to RM35.5mil compared with RM43.8mil previously.
Elaborating on this, Sentoria chief financial officer Loh Poh Im said factors that contributed to the decrease were the drop in visitors due to the east coast floods, as well as the first year of operations for the safari park.
“The safari park is moving ahead well and the first quarter is already looking good for the group. We are seeing a remarkable improvement in profits by more than 30% compared with the same period in the previous year,” she said.
According to the statement, Sentoria’s FY15 first-quarter revenue to end-December 2014 had increased by 35% to RM64.02mil, while its profit after tax grew by 36% to RM11.25mil from the previous corresponding period.

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