UDA Holdings aims to diversify further to stay relevant, competitive

Property development and asset management company UDA Holdings Bhd plans to diversify further its businesses to ensure that the government-linked company remains competitive and relevant in the future.

Chairman Datuk Jalaluddin Alias said the businesses being looked at would be based on the new normal in order to boost confidence of the public, including business people, amid the COVID-19 pandemic.

“Although our main business is property, we are also involved in construction and hospitality which are similarly affected by the COVID-19 pandemic. However, we have implemented several changes and approaches to ensure that our business concept will remain relevant.

“We are spreading our wings. We will emphasise on food and beverages (FB) and our asset management businesses while stressing on businesses that are pertinent to the new norm, which should be practised and welcomed by businesses (operating from UDA Holdings’ premises) currently,” he told Bernama here yesterday.

Earlier, Jalaluddin, who became chairman effective May 13, spent about two and a half hours visiting the operations of Angsana Seremban and AnCasa Residences Port Dickson which are under UDA Holdings’ supervision. Also present was chief executive officer Mohd Salem Kailany.

Commenting on the extension of the period for individual income tax relief of RM1,000 for tourism expenses until Dec 31, 2021, announced yesterday, Jalaluddin said the move would rejuvenate the country’s tourism industry that had been much affected by COVID-19.

“We want to get as many domestic tourists to utilise (the products and services of) the local industry.

“I think the incentive will have a positive effect and be well-received by the people, especially those who could not travel and go on holiday with their family for a long time. This is a good opportunity for them to maximise their spending power,” he said.

UDA Holdings owns four hotels in Pekan, Pahang; Kuala Lumpur; Port Dickson, Negeri Sembilan; and Kuala Terengganu, Terengganu, as well as shopping malls such as Angsana Seremban, Angsana Kuala Lumpur, Angsana Ipoh Mall and Angsana Johor Bahru Mall.

When presenting the National Economic Recovery Plan (PENJANA) on Friday, Prime Minister Tan Sri Muhyiddin Yassin announced tax incentives for the tourism sector worth RM1.8 billion, including a tourism tax exemption from July 1, 2020, to June 30, 2021; an extension of the service tax exemption for hotels from Sept 1, 2020, to June 30, 2021; and an extension of the period for the tourism industry’s deferment of tax instalment payments to Dec 31, 2020.

Meanwhile, Malaysian Association of Hotels (MAH) Negeri Sembilan chapter chairman Haziz Hassan said MAH had submitted its standard operating procedures proposal to the Health Ministry and the Tourism, Arts and Culture Ministry for approval to enable all hotels under the association to operate at the maximum level.

“We are now waiting for the approval. At present, the hotel business is highly affected; and since the implementation of the Movement Control Order, we have incurred heavy losses. However, the tax deferment announced by the prime minister really helps,” he said.

Haziz also expressed hope that the government would allow travel across state lines to help rejuvenate the country’s tourism industry.

-- BERNAMA