The Group will continue to remain cautious to maintain its competitiveness in all its existing operations particularly on further cost improvement while looking for new business opportunities in the near future. In the manufacturing segment, it performed well in this quarter and is the main contributor to the revenue and positive operating cashflow of the Group. However, recent volatility in the foreign exchange market, characterised by a sharp appreciation of the RM against the USD, impacted profitability in the third quarter of 2024. Despite this, the adverse effects of foreign exchange fluctuations were expected to recover in the final quarter of 2024. The Group continues to enhance productivity and streamline production costs to maintain competitiveness.

In the property development and construction segment, the Board believes it has a good prospect to grow. Its development projects particularly in Cybersouth (landed terrace houses and townhouses development) has been launched and received good response and shall contribute revenue and profit to the Group at the final quarter of 2024 or first quarter of 2025. In respect of high rise service apartment and retail integrated development at Ara Damansara, Selangor which are currently in the soft launch phase and have already attracted considerable customer interest, with a high likelihood of converting into sales in the near future. Overall, the strategic location of these development projects positions us favourably to capitalise on market demand and contribute positively to the Group’s financial performance.

In glove & healthcare segment, the glove industry is currently experiencing an increase in demand and stabilisation of the average selling price. The Board is confident that the sector are progressing towards recovery. However, the Group continue to be careful and prudent by maintaining minimal operational overheads for its glove manufacturing activities in Malaysia while focusing on its ongoing Engineering, Procurement, Construction and Commissioning (“EPCC”) project of its installation of production 12 13 lines for American Nitrile Operations, LLC, in USA. This EPCC contract work has contributed profit to the Group.

In the gaming & leisure segment, based on current market condition, it remain challenging and the Group shall be prudent and maintain its current position in the segment by running on the minimum turnover and overhead. The Board is cautiously optimistic and believe that, the financial performance of the Group will improve with the competence and commitment of its human capital as well as right strategies put in place.

制造业板块
表现：制造业是集团收入和正经营现金流的主要贡献者，表现出核心竞争力。
挑战：2024年第三季度，令吉兑美元的急剧升值影响了盈利能力。然而，预计2024年第四季度将有所恢复，得益于生产力提升和成本优化。
展望：该板块展现出较强的韧性，通过效率提升和保持竞争力，预计将继续成为增长的主要推动力。
2. 房地产开发与建筑板块
Cybersouth项目：开发的排屋和联排别墅项目获得了良好反响，预计将在2024年第四季度或2025年第一季度带来收入贡献。
Ara Damansara项目：位于雪兰莪的高层服务式公寓和商业零售项目目前处于软启动阶段，已吸引了大量客户兴趣，未来销售转化可能性较高。
展望：凭借战略位置和强劲的市场需求，该板块未来增长潜力巨大。
3. 手套与医疗保健板块
市场动态：手套行业需求回升，平均售价趋于稳定，显示出复苏迹象。
聚焦EPCC项目：集团在马来西亚手套制造方面保持最低运营成本，同时将重点放在美国American Nitrile Operations的生产线安装EPCC项目上。这一项目已为集团带来利润。
展望：尽管保持谨慎，但聚焦EPCC项目符合市场复苏趋势，有望实现业务反转。
4. 游戏与休闲板块
挑战：市场环境仍然严峻，集团采取了保守策略，通过最低营业额和运营成本维持现状。
展望：该板块优先级较低，稳定性而非增长是当前的主要目标。
总体展望
集团的多元化策略，尤其是对制造业和房地产开发板块的强劲聚焦，确保了平衡的增长路径。
面对外汇波动及行业特定挑战，集团通过审慎的成本管理和战略投资进行应对。
董事会对人力资本的重视及实施正确策略的决心，表明未来财务状况将稳步改善。

This article first appeared in City & Country, The Edge Malaysia Weekly on December 9, 2024 - December 15, 2024

The last time City & Country spoke to Puncakdana Sdn Bhd was two years ago, on the launch of Myara Park in Ara Damansara.

Scheduled for completion in 2025, the low-density, freehold mixed-use Myara Park has a gross development value (GDV) of nearly RM200 million. The 23-storey tower will comprise 126 serviced apartments, while the 17-storey tower will have 129 SoHo suites.


Much has happened since then, including the launch of several projects outside the Klang Valley, such as Al-Waqf @ Tunjong Phase 2 in Kota Bharu, Kelantan, and PuncakCity @ Seberang Perai Selatan in Juru, Penang.

Puncakdana’s completed projects in the Klang Valley are primarily located in Ara Damansara (AraTre’ Residences, D13 Office Tower, Citta Mall and more). For the first time, the company is exploring opportunities beyond Ara Damansara, venturing further south into Dengkil at the Bandar Cybersouth township, where it has been developing a series of landed homes under its Daun Villa series since 2023.

“The launch of Daun Villa Cybersouth marks the beginning of Puncakdana’s development in the southern part of the Klang Valley. We had a remarkable pre-release of 250 housing units from this initial phase, which saw all units being snapped up,” executive director Chuah Chong Ewe tells City & Country in an exclusive interview at the Daun Villa sales gallery in Cybersouth.

The 4-bedroom and 3-bathroom terraced units, with built-ups ranging from 3,015 to 4,436 sq ft, are priced from RM834,000 to RM1.243 million. The town villas, with built-ups ranging from 1,949 to 3,300 sq ft, are priced from RM578,000 to RM957,000.

“Since being opened for preview in April, Daun Villa has achieved a 90% booking rate, with 70% of that has been converted into sales,” says Chuah.

Mr Chuah Chong Ewe was appointed to the Board of Luster as an Executive Director on 21 September 2018, and subsequently redesignated as Managing Director on 28 February 2023. He is a member of the Risk Management Committee. His main responsibilities are to lead the strategic business direction of the Group.

It had been ages since City & Country last caught up with boutique developer Puncakdana Sdn Bhd and it had plenty to update us on. Between acquiring a 2.35-acre freehold parcel (via Luster Industries Bhd) in Ara Damansara, Petaling Jaya, on March 1 and its plans to launch four projects this year, the company has certainly been busy.

In the interview at its sales gallery, executive director Chuah Chong Ewe is only too happy to talk about the developer’s latest offering.

Our most anticipated project this year is Myara Park in Ara Damansara, which we plan to officially launch by June 30. So far, we have attained bookings of nearly 90% and we are confident that it will do well,” he says.

At 23 and 17 storeys, the two-tower Myara Park will be the tallest project in Ara Damansara, he points out.

Scheduled for completion in 2026, the low-density, freehold mixed-use project has a gross development value (GDV) of almost RM200 million. The 23-storey tower will compris

Luster Industries Bhd (Luster) is indeed well-positioned to benefit from the growth in the aluminium extrusion industry. The company's strengths lie in its established capabilities, diversification, and strategic market presence. Here's a deeper look into why Luster is likely to benefit from the boost in aluminium demand:

Key Strengths of Luster Industries:
Established Expertise and Manufacturing Capacity:

Luster has significant experience in the aluminium extrusion business, with a well-developed manufacturing base. The company produces a wide range of aluminium products, serving industries like construction, automotive, and electrical. This versatility allows Luster to cater to multiple sectors, ensuring a steady demand for its products.
Diversification into Multiple Markets:

Luster is not only a major supplier for construction (for products like window frames and cladding), but it also has a strong presence in the automotive and industrial sectors, which are expected to experience growth due to the increased demand for aluminium, especially in electric vehicles and lightweight construction materials.
The company’s diversified market presence allows it to mitigate risks and tap into opportunities across different sectors, including sustainability-driven projects in the construction industry and EV production in the automotive sector.
Strategic Focus on High-Value Sectors:

Luster’s products are integral to the production of high-performance materials used in modern construction and automotive designs, both of which are undergoing significant shifts toward more efficient, lightweight, and sustainable materials.
With the rise in green building standards and sustainability in automotive production (especially EVs), Luster’s aluminium products are expected to see increased demand.
Potential Growth from Infrastructure and EV Segments:

With urbanization and infrastructure development on the rise, Luster is well-positioned to supply materials for construction projects—both residential and commercial. Additionally, as the demand for electric vehicles grows, Luster’s aluminium extrusions, which are widely used in automotive lightweighting, will benefit.
Technology and Innovation:

Luster is likely to continue innovating in its extrusion technology, enhancing the strength, durability, and efficiency of its aluminium products to meet evolving industry demands. Innovation could help the company gain a competitive edge in sectors where performance and sustainability are crucial.
Potential Challenges to Watch:
Market Competition: The aluminium extrusion industry is competitive, with other regional players also vying for market share. Luster will need to continuously innovate and maintain a strong relationship with its customers to differentiate itself.
Price Volatility: Aluminium prices can be volatile due to global supply chain factors and commodity fluctuations. Luster will need to manage raw material costs effectively to maintain profitability.
Conclusion:
Luster Industries Bhd’s diverse market exposure, manufacturing expertise, and strategic positioning in high-growth sectors like construction and automotive make it a strong candidate to benefit from the expected boost in the aluminium extrusion industry. If the company continues to adapt to market trends and technological advancements, it is well-placed to capture significant growth opportunities in the coming year.

Ｉn glove & healthcare segment, the glove industry is currently experiencing an increase in demand and stabilisation of the average selling price. The Board is confident that the sector are progressing towards recovery. However, the Group continue to be careful and prudent by maintaining minimal operational overheads for its glove manufacturing activities in Malaysia while focusing on its ongoing Engineering, Procurement, Construction and Commissioning (“EPCC”) project of its installation of production 12 13 lines for American Nitrile Operations, LLC, in USA. This EPCC contract work has contributed profit to the Group.

In the manufacturing segment, it performed well in this quarter and is the main contributor to the revenue and positive operating cashflow of the Group. However, recent volatility in the foreign exchange market, characterised by a sharp appreciation of the RM against the USD, impacted profitability in the third quarter of 2024. Despite this, the adverse effects of foreign exchange fluctuations were expected to recover in the final quarter of 2024. The Group continues to enhance productivity and streamline production costs to maintain competitiveness. In the property development and construction segment, the Board believes it has a good prospect to grow. Its development projects particularly in Cybersouth (landed terrace houses and townhouses development) has been launched and received good response and shall contribute revenue and profit to the Group at the final quarter of 2024 or first quarter of 2025. In respect of high rise service apartment and retail integrated development at Ara Damansara, Selangor which are currently in the soft launch phase and have already attracted considerable customer interest, with a high likelihood of converting into sales in the near future. Overall, the strategic location of these development projects positions us favourably to capitalise on market demand and contribute positively to the Group’s financial performance.

Chuah Chong Ewe is an accomplished leader with a strong record of corporate turnarounds and strategic growth. His diverse expertise in law, business management, and engineering-related sectors makes him a valuable asset for Luster Industries Berhad and other companies under his leadership

Daun villa 90% sold, Amara Residential 40% since June 24. Future Dev will be the next phase of Daun Villa (very nice surrounding lake) and new purchased land at Ara Damansara. Around 1 year +- should be able to see strong contributions from property segment. Stay tuned, will update all when I have new findings in future related to the group. At the moment, they have 80M cash on hand and positive cash flow mainly from their manufacturing segment.