CONSTRUCTION & PROPERTY PROPERTY DEVELOPMENT DIVISION   In addition to the core business of the group in civil and building construction, interior design and fit out works, manufacturing of rubber moulded products, plastic products, adhesives and sealants, KUMPULAN JETSON BERHAD has since 2004 diversified upstream and venture into the dynamic property development sector to complement the construction division. The move provides enormous synergistic effect and opens up tremendous new business opportunities for the Group.  Leading the new thrust into the property development sector is its wholly owned subsidiary, Jetson Development Sdn Bhd when it acquired an approximately 20 acres free hold land in Kamunting, Taiping, state of Perak Darul Ridzuan.  This maiden property development project which was launched in late 2005 comprises a total of 202 units of single storey, 1½ storey, double storey, 2½ storey terrace houses, double storey semi-detached houses, bungalows and single storey shops with an estimated revenue of RM28 million. Despite being a new comer in the Taiping and Kamunting region and facing stiff competition from existing property developers, the attractive façade design and efficient floor layout plan of the houses was well received. The development project recorded remarkable 100% sales in its Phase 1 and Phase 2 terrace houses and 90% sales in Phase 3A bungalow lots. Construction of Phase 1 houses has been completed while construction of Phase 2 houses and Phase 3B semi-detached houses are in progress.   Riding on the success of the maiden property development project in Kamunting, Perak, KJB Group’s property development division advances further aggressively by venturing into the overseas market in Jakarta, Indonesia through a joint venture with an Indonesia based company. In the joint venture business, Jetson acquires a 55% stake in a property development company incorporated in Jakarta to undertake an elite and exclusive property development project for the affluent market at Kelapa Gading, situated in eastern part of Jakarta, Indonesia. The proposed development project comprises several phases commencing with with about 600 units of double storey terrace houses, 21 units of 4 storey shop offices and an exclusive clubhouse in phase 1 on a 13.5 hectares land, followed by future phases of development of about 650 units of double storey terrace houses on approximately 17 hectares of land. Target to be launched in late 2008, the project is expected to generate a gross development value of USD170 million and is scheduled to span over 4 – 5 years. This joint venture project will pilot the Group to other joint venture development projects in Jakarta and other parts of Indonesia.