New chairman: Uda to focus on three core businesses

05 July 2010 , By The Star

The newly appointed chairman of Uda Holdings, Datuk Nur Jazlan Mohamed, wants the company to focus on three core business areas, namely, real estate, development of town and management of shopping complexes in three major cities in the country.

This was to make a success of the bumiputra mission as set out by the Government in the 10th Malaysia Plan and the New Economic Model, he said.

“The cities would be Johor Baru, Kuala Lumpur and Georgetown,” he told reporters on Saturday.

Nur Jazlan said he had received briefings from Uda managing director Datuk Jaafar Abu Hassan and had directed its management to focus on the businesses in the three cities.

He said he wanted Uda to help the bumiputra community to compete with other communities; it did not want to hear incidents of them having to move out of the cities because they could not afford to buy residences or business premises in the cities.

Uda also has strength in the management of shopping complexes, being the sole bumiputra company managing properties in the cities such as BB Plaza, Pertama Complex and Daya Bumi in Kuala Lumpur and Plaza Angsana in Johor Baru.

Nur Jazlan said Uda should fully exploit to ensure that the bumiputra community could do businesses in the main cities. — Bernama

Uda has already been delisted from Bursa Malaysia and currently under the patronage of the Minister of Finance Inc and the Government wants it to be a corporation as was its mission during its establishment 40 years ago.

“The Prime Minister Datuk Seri Najib Tun Razak is very concerned and wants to see UDA return to the root of its establishment which is to strengthen the ownership of properties by bumiputra be it business or residential in the city area,” he said.

Nur Jazlan who is also Member of Parliament for Pulai was announced as Uda new chairman in mid-June, replacing Datuk Hilmi Abd Rashid, for a two-year term.