PRG Holdings Berhad Annual Report 2018

chairman’s statement (continued) PRG HOLD I NGS BERHAD 13 On the whole, the property market in 2018 had mixed results which showed the market to be adjusting itself to the current political and economic climate. The prolonged wait- and-see attitude combined with the plight of buyers securing sufficient loans for their desired property purchases collectively contributed to market stagnation as well as rising inventory levels for developers. However, improving consumer sentiment and proactive government policies announced in Budget 2019 gives us optimism about the demand for properties especially those priced below RM500,000 as this is a segment that is targeted at middle-income households, which constitute 51% of the Malaysian population. As for the healthcare and wellness division of PRG, our aim is to expand our existing footprint through organic growth and seeking synergistic acquisition or partnership in the coming years. As this is a new business segment that we had just established, we wish to strengthen our core competencies and expand in a measured pace. APPRECIATION I would like to extend my heartfelt appreciation to our shareholders, PRG’s employees, customers, and Board members for their contribution and dedication. While challenges aplenty, I am sure the management team will focus on preserving and enhancing shareholders value in the long term. We hope for your continued support as we embrace 2019 and beyond. Dato’ Dr. Awang Adek bin Hussin Independent Non-Executive Chairman