CORPORATE PROFILE

Farlim Group (Malaysia) Bhd was incorporated in Malaysia on 12 March, 1982 under the Companies Act, 1965 as a private limited company under the name of Perumahan Farlim (Malaysia) Sdn. Bhd. We assumed our present name on 24 October, 1994 and embraced our status as a public limited company on 25 October, 1994. We were listed on Bursa Malaysia Securities Berhad (formerly known as Kuala Lumpur Stock Exchange) on 26 July 1995.

Farlim is principally involved in property development while our subsidiaries are involved in property development, investment holding, marketing and distribution of building materials.

Mission Statement

Farlim believes in providing families with homes, not houses. We want homebuyers to raise families in homes that appreciate in value over years in caring and integrated communities. We are responsible to our shareholders, but even more so to our homeowners.

Farlim helps homeowners to achieve long-term financial stability in well-built homes within an eco-friendly environment.

Vision

Farlim will capitalize on the opportunities of globalization and seek opportunities in international markets. We will create sustainable communities and balanced ecosystems both locally and abroad.

Farlim believes in providing families with homes, not houses. We want homebuyers to raise families in homes that appreciate in value over years in caring and integrated communities. We are responsible to our shareholders, but even more so to our homeowners.

Farlim helps homeowners to achieve long-term financial stability in well-built homes within an eco-friendly environment.

Farlim will capitalize on the opportunities of globalization and seek opportunities in international markets. We will create sustainable communities and balanced ecosystems both locally and abroad.

OUR RECOGNITION

Awards & Certifications

Farlim is also a Class A Registered Contractor with the Pusat Khidmat Kontraktor (PKK) as well as a CIDB G7 Registered Contractor which allows us to undertake contracts with no limit to the contract sum. Farlim has been conferred with three awards in recognition for its exemplary work:

Farlim has been conferred with "The Prime Minister's 1990 Quality Award"

The Prime Minister’s 1990 Quality Award

The 1992 Malaysian Institute of Planners “Excellence in Urban Planning” Award

The 1992 Malaysian Institute of Planners “Excellence in Urban Planning” Award

Farlim has been conferred with "Champion for the 2011 Jabatan Kerja Raya Contractors Excellence Award"

Champion for the 2011 Jabatan Kerja Raya Contractors Excellence Award

OUR WORK

Creating Quality Homes And Vibrant Lifestyles

Farlim has been instrumental in transforming the landscape of Penang Island, notably through its flagship project, Bandar Baru Ayer Itam, combining commercial and residential units with essential services to create a cohesive community.

Additionally, Farlim has expanded its footprint with successful housing projects in Perak, Selangor, and beyond, delivering quality homes, modern infrastructure, and community facilities.

With ongoing and future developments, including township projects and residential properties, Farlim continues to contribute to sustainable and affordable developments across Malaysia.

Our Work

The main thrust of Farlim’s activities is the development of a new township known as Bandar Baru Ayer Itam on the island of Penang. The township is located in a targeted growth area, 5km from Georgetown. It represents the single largest development undertaken by a private sector developer on the island, covering 356 acres and comprising approximately 13,000 residential and commercial units.

Bandar Baru Ayer Itam is being rapidly transformed into a fully-integrated township which comprised a commercial centre offering various services like hypermarket, banks, pharmacies, clinics, restaurants, post office, petrol kiosk, kindergartens, police stations and many others. The development in the Bandar Baru Ayer Itam township is expected to be completed by the year 2027.

Total number of units sold to date is 13,111 units with a total sales value of RM1.31 billion.

Farlim has designed and built apartments for the Royal Malaysian Police within Bandar Baru Ayer Itam. The project was the first under the government’s crash housing programme in 1990 that was contracted to the private sector and covered 980 units of three bedroom apartments, one police station, three community halls and suraus in addition to other community facilities. The project was completed in 1992 with a total sales value of RM61.25 million.

Farlim had been awarded contracts by the Public Works Department from the Malaysian Government for the following projects:-

  • Construction of Sekolah Menengah Kebangsaan Bandar Baru Ayer Itam, Pulau Pinang comprising of two blocks of four-storey administrative/school building and two blocks of four-storey science laboratory/school buildings. The total contract sum for the completion of the school is RM7.86 million.
  • Designed and built a six-storey Klinik Kesihatan in Daerah Timur laut, Bandar Baru Ayer Itam, Pulau Pinang. The total contract sum for the completion of the Klinik Kesihatan is RM26.36 million.

In 2018, Farlim commenced construction of quality homes at affordable pricing on its land bank of 92.74 acres in Mukim Bidor, Daerah Batang Padang, Perak. The current township development known as Taman Impiana Bidor, is a seven-phased mixed development project and it is a well-connected township in Bidor, Perak.

The company had delivered vacant possession for Phase 1 in Taman Impiana Bidor, Perak comprising 80 units of 1-storey medium cost terrace houses and 22 units of affordable 2-storey houses in 2020, Phase 5A of 15 units 2-storey shophouses in 2021, Phase 2A and Phase 3A comprising 80 units of 1-storey medium cost terrace houses in 2022 and Phase 3B and Phase 3C comprising 99 units of 1-storey medium cost houses in April 2023. The Certificate of Completion and Compliance (“CCC”) is expected to be obtained in the 3rd quarter of 2024 for the existing ongoing development, Phase 4A comprising 78 units of 1-storey terrace houses which was launched in March 2023.

The latest new development, Phase 7A comprising 14 units of 1-storey semi-detached houses had been launched in the 1st quarter 2024. The construction works are in progress.

Another new development of Bidor Phase 2B, which planning permission and building plans for 53 units of 1-storey terrace affordable houses had been approved by the relevant authorities in the 4th quarter of 2023. The Developer License and Advertising Permit (“DLAP”) had just been obtained in early June 2024 and is expected to be launched in the 3rd quarter of 2024.

Within the Group’s existing Bandar Baru Air Itam (BBAI) township in Penang, building plans for several landed properties had been obtained. To-date, 2 units of 2-storey semi-detached houses have been completed with CCC issued on 4 October 2023.

In the 3rd quarter of 2022, a residential project in Saujana Impian Kajang, Selangor offering a total of 23 units of 2-storey terrace houses was launched. There were expressions of interest by potential home buyers but this has yet to be translated into fully-signed sale and purchase agreement. To date, the construction works for brickwall and roof covering for the 16 units have been completed and plastering work is currently in progress.

Property Development Projects in the pipeline:

  • A wholly-owned subsidiary of the Group had obtained the re-phasing plan approval from the authorities for the proposed development of the 96.8 acres of development land in Mukim Teja, Daerah Kampar, Perak. Upon approval of all other relevant plans from the authorities, the Group planned to embark on a new township development in Gopeng, Perak in 2024/2025, with initial development of Phase 1A comprising 104 units of 1-storey terrace houses with a gross development value of RM20.2 million and Phase 1B comprising 67 units of 1- storey terrace houses with a gross development value of RM13.0 million. The balance of approximately 1,000 units of mixed development will be launched in subsequent phases
  • Another wholly-owned subsidiary of the Group had obtained approval from Lembaga Perumahan Dan Hartanah Selangor on 27 September 2022 for proposed development of 437 units of Selangorku Harapan apartments and shoplots in Saujana Impian, Kajang, Selangor. Planning Permission application to the Majlis Perbandaran Kajang (“MPKJ”) has been submitted. To date, clearance/support letters have been obtained from the technical department of MPKJ with conditions to be fulfilled. Nevertheless, the Planning Permission is still pending endorsement by the planning authorities.
  • Revised planning permission for the development of 48 units condominium in Bandar Baru Air Itam, Penang has been obtained. In line with the prevailing property sector outlook and products demand, the Company is currently revisiting the existing development and configurations with a view of further maximizing the project economics.
  • In addition to the above, Farlim currently has 200.08 acres of development lands in Kerteh, Kemaman, Terengganu..