Chairman's Message

Dear Shareholders,
It is my pleasure to present Daiman Development Berhad and the Group’s Annual Report and Audited Financial Statements for the financial year ended 30 June 2016.


The Group recorded a decrease of approximately 15.3% in revenue to RM156.8 million for the financial year 2016 as compared to RM185.2 million in financial year 2015. The decrease was mainly due to lower property development revenue and lower trading revenue. The Profit Before Tax (“PBT”) was RM34.4 million as compared to RM40.2 million in financial year 2015. The lower profit was mainly due to lower property development profit and lower property investment profit. 


The Board would like to recommend to the shareholders for approval a first and final single tier dividend of 5 sen per share for the financial year ended 30 June 2016.


Property Development

Property Development as the core business posted a revenue of RM72.1 million as compared to RM113.5 million in financial year 2015. The PBT for financial year 2016 was RM29.7 million as compared to RM41.8 million as per prior year annual report in financial year 2015. The decrease in PBT was due to the lower revenue from property sales.

Taman Gaya will continue with its range of higher quality products despite the slower market. The ideal location and high quality products remain critical to its success and popularity in Johor. Sales of property in Taman Gaya, Taman Daiman Jaya and Taman Perindustrian Murni Senai have slowed down noticeably. The banks’ credit tightening and weaker market demand in these areas have directly caused sales to decrease. The sales of terrace factories in Taman Perindustrian Murni Senai have been directly affected by the implementation of GST.

Property Investment

Property investment revenue strengthened with the increased occupancy of Landmark Office and Medical Suites. The revenue increased from RM12.0 million for financial year 2015 to RM13.7 million for financial year 2016. This represents an improvement of 14.2% as compared to financial year 2015. Carpark revenue also improved due to increased office and hotel occupancy.

Wisma Daiman, Daiman Apartment and Courts Setapak continued to provide stable revenue stream and profits for this property investment division.

Property investment will continue to generate sustainable recurring income for the Group.


The DoubleTree by Hilton hotel brought in RM50.4 million revenue during financial year 2016. This represents an improvement of 51.8% as per our as compared to financial year 2015. Strong occupancy and average room rate coupled with aggressive cost management and has yielded stronger results.

The hotel has been well patronized by customers. The progressive occupancy improvements will contribute in a positive aspect for our Group’s revenue and profitability in the longer term.


The trading division delivered lower revenue of RM11.6 million financial year 2016 compared to RM17.1 million in financial year 2015. The lower revenue performance came from lower sales of building materials and lower batching plant production, both of which were affected by poor market sentiment.

Leisure and Recreation

The leisure and recreation posted a revenue of RM9.2 million, mainly contributed by the Sports Complex and the Bowling Centre, both of which delivered total revenue and PBT of RM7.4 million and RM1.2 million respectively.

Leisure and recreation segments play an essential role to enhance the living environment and vibrancy of our property development environment and to provide the sports, recreational and social needs of the residents. We believe the leisure and recreation business will continue to perform satisfactorily.


The market condition is expected to remain uncertain in the near term in view of the tight credit control by banks, the effect of the implementation of GST in April 2015 and the fall in the value of the Ringgit currency.

Our Group is cautious and has positioned itself to face these challenges as our ongoing projects are located strategically within marketable area offering a wide spectrum of products to our prospective customers ranging from affordable homes to luxury living environment as well as commercial and industrial products.

Our Board is cautiously optimistic about the financial results of the Group for the financial year ending 30 June 2017, given the challenging business environment.


On behalf of the Board, I wish to express my heartfelt appreciation to the Management and Staff for their loyal and dedicated services to our Group, and to various government authorities, and agencies, bankers, valued customers, suppliers and business associates for their kind co-operation and continued support.

Finally, I wish to thank my fellow Board members for their support and the shareholders for their confidence in the Board and Management of our Group.



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