Reliance Pacific Berhad - Annual Report 2016 - page 8

Annual Report 2016
7
Reliance Pacific Berhad • 244521 A
Prospects Financial Year 2016/2017
The general consensus is that the Malaysian economy will grow by 4% to 4.5% in 2016. As a Group
we have undergone a challenging period of external and domestic shocks affecting the economy
and the operating environment for all our Divisions. Nonetheless, barring unforeseen circumstances,
we expect the Group to improve its performance for Financial Year 2016/2017. Our focus will be on
higher yields and margins and prioritizing profits over growth.
The Hotel Division will continue to leverage on its strong branding in hotels, resorts, spa and
residences. Going forward, we will continue with our strategy to optimise yields and profitability.
At the same time, we are also looking at the rejuvenation of our assets to enhance its marketability
and yield.
The Tourism Division is cautiously optimistic on its performance barring any unforeseen
circumstances which are beyond our control.
The Property Division will continue to focus on implementing Zone 2 of Desa Impian, Bandar
Tenggara. In addition, we shall review the development mix of the remaining development in
order to enhance margins. However, we shall remain prudent and moderate when considering new
ventures or capital investment and seek to monetize some of our unproductive assets.
Appreciation and Acknowledgement
Finally, I would like to extend my sincere appreciation to my fellow Board members, the
management and employees of the Group for their untiring efforts, sacrifices and selfless striving
under challenging circumstances.
On behalf of the Board, I would like to thank our shareholders, associates and bankers for their
continued support. We look forward to a better performance in 2016 and beyond.
Thank you
Tan Sri Dato’ Sri Dr. Samsudin Bin Hitam
Chairman
1,2,3,4,5,6,7 9,10,11,12,13,14,15,16,17,18,...111
Powered by FlippingBook