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Jul 27
2010
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Extract from The Edge (26/07/10)
KUALA LUMPUR: En route to a listing on the Main Market of Bursa Malaysia Securities soon, Tambun Indah Land Bhd (TILB) plans to undertake 12 property development projects in Penang with an estimated gross development value (GDV) of RM1.05 billion.
According to its prospectus exposure on the Securities Commission’s website, Tambun Indah Land said the 12 projects to be undertaken between June 2010 and 2016 involved an estimated 2,532 units of bungalows, semi-detached houses, terrace houses, condominiums, apartments and shop-offices.
The Penang-based developer’s ongoing projects as at May 15, 2010 include Juru Heights (GDV: RM75.53 million), Seri Palma (RM4.6 million), Carrisa Park (RM25.93 million), Pearl Garden Phase A1A (RM54.92 million) and Pearl Garden Phase A1B (RM39.9 million).
Tambun Indah Land’s proforma income statements for the year ended Dec 31, 2009 (FY09) showed the group’s net profit rising marginally to RM23.76 million from RM23.47 million in FY08 while revenue dipped 20% to RM100.87 million from RM126.04 million. Basic earnings per share (EPS) rose to 12.63 sen from 12.44 sen.
According to its prospectus exposure on the Securities Commission’s website, Tambun Indah Land said the 12 projects to be undertaken between June 2010 and 2016 involved an estimated 2,532 units of bungalows, semi-detached houses, terrace houses, condominiums, apartments and shop-offices.
The Penang-based developer’s ongoing projects as at May 15, 2010 include Juru Heights (GDV: RM75.53 million), Seri Palma (RM4.6 million), Carrisa Park (RM25.93 million), Pearl Garden Phase A1A (RM54.92 million) and Pearl Garden Phase A1B (RM39.9 million).
Tambun Indah Land’s proforma income statements for the year ended Dec 31, 2009 (FY09) showed the group’s net profit rising marginally to RM23.76 million from RM23.47 million in FY08 while revenue dipped 20% to RM100.87 million from RM126.04 million. Basic earnings per share (EPS) rose to 12.63 sen from 12.44 sen.
Property development accounted for 99.76% or RM100.63 million of its total revenue in FY09. Residential properties contributed the largest portion of 98.35% or RM99.21 million while a further breakdown showed terrace houses topped the list of residential segment contributors with 66.91%.
Commercial properties accounted for 1.41% of its revenue, while 0.24% or RM244,000 of revenue came from rental of properties and operation of car park.
Tambun Indah Land is making a public issue of 32 million new shares of 50 sen each, comprising 11.05 million shares for the Malaysian public, 11.5 million shares for directors, employees and business associates, and 9.9 million shares for application by identified investors via private placement.
The vendors are offering for sale 22.1 million shares for application by bumiputera investors approved by the ministry of international trade and industry.
The gross proceeds will be used for working capital, RM7.1 million for repayment of bank borrowings, RM3.5 million for land acquisition and RM2.6 million for listing expenses.
Tambun Indah Land said considering its current financial position, its board intended to adopt a progressive dividend policy in the future of between 40% and 60% of net profit.
Some of its notable projects in Penang included a mixed development at Taman Tambun Indah in Simpang Ampat which recorded net sales value of RM116.22 million, the Scotland Villas in Penang Island (RM55.33 million) and Casa Impian residential development in Butterworth (RM59.04 million).
Pursuant to its public issue of 32 million shares, it would have an enlarged share capital of RM110.5 million upon listing.
Source
http://www.theedgemalaysia.com/in-the-financial-daily/170516-tilb-to-undertake-projects-worth-rm105b.html
Commercial properties accounted for 1.41% of its revenue, while 0.24% or RM244,000 of revenue came from rental of properties and operation of car park.
Tambun Indah Land is making a public issue of 32 million new shares of 50 sen each, comprising 11.05 million shares for the Malaysian public, 11.5 million shares for directors, employees and business associates, and 9.9 million shares for application by identified investors via private placement.
The vendors are offering for sale 22.1 million shares for application by bumiputera investors approved by the ministry of international trade and industry.
The gross proceeds will be used for working capital, RM7.1 million for repayment of bank borrowings, RM3.5 million for land acquisition and RM2.6 million for listing expenses.
Tambun Indah Land said considering its current financial position, its board intended to adopt a progressive dividend policy in the future of between 40% and 60% of net profit.
Some of its notable projects in Penang included a mixed development at Taman Tambun Indah in Simpang Ampat which recorded net sales value of RM116.22 million, the Scotland Villas in Penang Island (RM55.33 million) and Casa Impian residential development in Butterworth (RM59.04 million).
Pursuant to its public issue of 32 million shares, it would have an enlarged share capital of RM110.5 million upon listing.
Source
http://www.theedgemalaysia.com/in-the-financial-daily/170516-tilb-to-undertake-projects-worth-rm105b.html
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