In the residential segment, we will focus on providing affordable housing as well as condominium projects in the Klang Valley. Our property division is continuing to expand especially in the Industrial Park segment with our Banting Industrial Park receiving encouraging support and collaboration of the State authorities and good response from purchasers with plans to establish similar industrial parks in other states. The mining licenses granted to our operations in Banting will see our production of tin by the first quarter of We are now the largest silica sand producer in Malaysia and will embark on value added projects including production of high grade silica sand and silica powder. This was largely due to our dedicated strategies to diversify our retail formats and enhance our product offerings through the increasing extension of lifestyle products and services, as well as our ongoing efforts to improve our business model to optimize our storesê effectiveness. For the flat steel products sector, the restructuring of our hot rolled coil operations has received the necessary approvals and is expected to be completed soon by the first quarter of Our Parkson retail arm posted improved performance contributed mainly by its operations in China. Though our steel bar and wire rod business had improved with the government policy which enabled the local steel mills to compete with imports on a level playing field, intense competition in the local market had depressed selling prices for these steel products. The weak consumer sentiments also posed a challenge to our retail operations in the countries we operate in. 2 RETAIL & TRADING OUTPOZT BY PARKSON OPENS Fast fashion brands from Korea Hip streetwear brand Multi brands Hipster cafes 1 Casual wear Sportwear cornerģ 2020 New Year Message from GROUP EXECUTIVE CHAIRMAN The prevailing global and economic uncertainties in 2019 continued to affect the overall business environment and our manufacturing operations which had to cope with the rising costs of production, intense competition and sluggish demand, amongst others.
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