MANAGEMENT DISCUSSION AND ANALYSIS The Group entered into agreements to acquire the following properties (collectively “New Lands”) to increase its land bank to ensure the availability of land for future development: NEW LAND BANK IN THE PIPE LINE Location / Land Area Purchase Price (RM) Expected Completion of Acquisition Tenure and Land Use On Completion of the Acquisition Proposed Acquisition of New Land Bank In Kuala Lumpur Situated next to Alam Damai, Cheras, Kuala Lumpur / 43.46 acres 95.00 million Second quarter of 2023 9 pieces of freehold agriculture land / mixed development Proposed Acquisition of New Land Bank In Johor Within Meridin East township, Mukim Plentong Johor Bahru, Johor / 17.90 acres 21.83 million Second quarter of 2023 Freehold agriculture land / commercial development Total 116.83 million The purchase consideration of the New Lands is expected to be satisfied by internally generated funds and bank borrowings. For illustrative purpose, assuming 70% of the purchase consideration is financed through bank borrowings and fully drawn down as at 31 December 2022, the Group’s net gearing ratio is expected to increase from the audited ratio of 0.25 times as at 31 December 2022 to 0.30 times. Upon the completion of the acquisitions, the total land bank of the Group will increase to approximately 280 acres. DIVIDEND POLICY While we do not adopt a formal dividend policy, our Company has been declaring dividends every year since its listing on the Main Market of Bursa Malaysia Securities Berhad in 2010. In respect of FY2022, the Board recommends a single tier final dividend of 1.0 sen per share. Our Company is always mindful to reward our loyal shareholders who have supported our growth over the years while trying to strike a balance with the funding needs at our different development phases. Kimlun Corporation Berhad | Registration No. 200901023978 (867077-X) 27
RkJQdWJsaXNoZXIy NDgzMzc=