Monday, December 3, 2012
UEM Q3 2012 Profit Rose by RM 42.01M, Yet UEM Falls Short of Delivering Sales Promises
Thanks to increase in sales and construction progress from development such as East Ledang, Imperia, etc, UEM made a very significant increase in pre-tax profit in the recent Q3 per this article. As an investor and resident in UEM's development, I am often very disappointed with the developer. UEM falls short in many ways in delivering against the promises and expectations set in their marketing/sales messages (at least for this area). Yes UEM can market and sell their houses very effectively, but what comes after sales and construction is as important, if not more important because existing estates are reflection of the true value of the developer. With this profit, I sincerely hope that UEM would finally take action and delivers promises made to its investors. Inaction or lack of actions would eventually generate very detrimental publicity and image to the company. So let's see how this goes.