Ann: UOA Development Bhd - Profit Result (2nd Quarter 2022), page-2

Another relatively muted result especially when compared to last year

I wonder how we can get a steer for how they are doing (beyond we sold less than last year hence lower revenues/profits) including what the outlook is like over the next 12 -18 mths

trying to do some research and it appears that the Malaysian govt have provided some incentive for properties under MYR500k (seems unlikely that UOA properties would fall in that price bracket), but is available up to MYR1m so perhaps some upside there, but the reopening of boarders and return of overseas visotors (&investors) will help, but wonder if we can get any more concrete guidance on what is happening in the real estate space and in particular UOA targeted clients. Also no idea about what they are doing in Vietnam and I recall they had some arrangement for working with a major partner in Vietnam, but I've seen nothing further on that.

The other thing is that they loaned out ~MYR130m (AUD~40m) to a related company, but nothing further on that

It does seem that the company is rock solid (MYR 2.35 nett asset per share which translates into ~AUD76c of which UOA shareholders are entitiled to ~71% so AUD54c in just conservertively assets)