Dear Valued Shareholders,

On behalf of the Board of Directors of YNH Property Bhd ("YNHP" or "the Company"), it is my honour to present to you the Annual Report and Audited Consolidated Financial Statements of the company and its subsidiaries ("YNHP Group" or "the Group") for the financial year ended 30 June 2024 ("FYE2024").

In FYE2024, YNHP continued to solidify its foundation in township development, especially in the Manjung District, Perak, which remained a key source of stable revenue. Our project, The Solasta Dutamas, also contributed significantly to the Group's earnings.

Solasta Dutamas

Located within the Mont Kiara neighborhood, Solasta Dutamas is making steady progress, with construction advancing smoothly as of 30 September 2024. The development, featuring 1,159 serviced apartment units, has generated strong interest from young professionals and urban dwellers seeking convenient city access. We are optimistic about its prospects and look forward to the project’s contribution to our revenue in the coming years.

Genting Highlands Development

The Company has in the final quarter of 2008 acquired 95 acres of strategic development land bank in Genting Highlands. The Genting land is located strategically next to the Genting Highland Resort and was acquired for RM16.05 million. The land has already been converted to building title. The proximity to the existing Genting Highland Resort is an advantage as the proposed development will complement the existing infrastructure. Other plus point for this development is that it is located in a cool environment and yet only 45 minutes’ drive from the Kuala Lumpur City Centre.

The proposed development for this 95-acre land includes commercial units, bungalows, condominium, retail units which will be targeted at both local and foreign investors. The estimated gross development value for this future development is RM1.96 billion and it is expected to contribute to the Group’s earnings in the next 20 years.

The 1st phase of the proposed development is a 35-storey serviced apartment building consisting of 908 units. The proposed phase 1 will have an estimated GDV of about RM700 million.

Development Projects in Perak

Manjung Point Township continues to be a stable source of revenue for the Group. The Group targets to generate RM100 million revenue every year with both residential and commercial project launches in the coming years utilizing a portion of the undeveloped land bank in the Manjung Point Township.

The remaining 700 acres of undeveloped land bank in Seri Manjung is expected to contribute to the Group’s revenue for another 50 years to come.

Corporate Development

The Board is pleased to inform that the conditions precedent of the Sales and Purchase Agreement for 163 Retail Park have been fully met, making the agreement unconditional as of 23rd September 2024. This milestone not only affirms the value and appeal of our development but also demonstrates the market's recognition of its prime location and quality. The successful completion of this agreement reinforces our position as a developer of highvalue properties and strengthens the company's financial outlook.

Appreciation

I sincerely thank our management team and employees for their unwavering dedication and resilience, which has been instrumental in navigating this challenging year. Our deepest gratitude goes to our shareholders, customers, bankers, and business partners for their continued support and trust.

Together, we remain committed to driving the Group forward, pursuing sustainable growth, and delivering longterm value for our stakeholders.