Sime Darby Property Bhd Chairman Tan Sri Dr Zeti Akhtar Aziz believes the company will overcome any severe setback it may encounter following highly extreme global conditions.
This comes as the company’s robust foundations will increase its potential to positively emerge from such situations.
She noted that the resilient and re-energising strategies of the company will build on the performance it had achieved in the past two years.
“Our shareholders and stakeholders are invested in Sime Darby Property’s future,” said Zeti, who formerly served as Bank Negara Malaysia Governor.
Looking back, she described the developments in 2019 as extremely overwhelming, reported The Edge.
“[There were] the global externalities – from US-China trade tensions and the aftermath of Brexit – and local market conditions with disparate demand and supply trends and weak market sentiments,” she said in Sime Darby Property’s latest annual report.
“On the cusp of the new year 2020, trade and investment flows worsened with the Covid-19 pandemic that has plagued the world and augmented with a collapse in oil prices following tensions among the major economies.”
With this, Zeti expects the Malaysian economy to suffer a setback this year given the overwhelming damage to the global economy of the Covid-19 pandemic.
Nonetheless, she expects the current imbalance in the Malaysian property market, which has been building for some years, to correct itself, finding its own equilibrium.
“What will separate leaders from laggards is the ability to continue rebuilding the business and catalyse the industry’s recovery and growth, while cushioning the economy against any potential negative spillover effects from our sector,” said Zeti.
Image source from Sime Darby Property