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TAMBUN (5191) : TAMBUN INDAH LAND BERHAD

okass87
If next quarter next profit remain as current quarter performance, dividend estimated will be around 4-5 cent.
07 Dec 2013, 04:08 PM
okass87

恆大置地 檳Pearl City建国际学校


(吉隆坡26日讯)恆大置地(TAMBUN,5191,主板產业股)宣布,与GEMS Maju私人有限公司(GEMS)达成协议,將在檳城的Pearl City发展项目中,兴建一所国际学校,建筑成本约3800万令吉。

GEMS Maju私人有限公司是GEMS国际学校大马经营者,在GEMS的协助下,恆大置地將负责该国际学校的设计及建筑工程,完成之后,將把校舍出租予GEMS,租用期为30年。GEMS將投资3200万令吉在校园的设施及装备。这家国际学校预计將在2015年中开始运作。

GEMS国际学校將建筑在一片8英亩的土地,建筑面积大约是20万平方尺。

恆大置地董事经理郑克生表示,鑑于檳城强劲的经济活动,部份是来自海外直接投资,该公司认为设立国际学校是合时宜的,迎合更多企业外派员家庭的需求。另外,此国际学校无疑將提升Pearl City的价值,以及让其商业园朝气蓬勃。

提升估值

拉昔胡申研究分析员表示,根据该公司指出,首8年的租金为建造费用的8%,加上土地价值的4%,而自第9年起,每年將增加2%。以此推算,每年的租金为350万令吉,或具吸引力的7%收益率。

分析员透露,继2013年签署联营发展购物中心的项目后,该国际学校项目是Pearl City商业园的第二个项目。这项商业园的部份土地也被划为建设医疗中心用途。

虽然该国际学校项目对恆大置地带来的经常性收益不多,但好处是提升Pearl City的价值及刺激这地区的產业需求。目前PearlCity仅有一家华文国民型小学,邻近並没有其他的国际学校。

该国际学校將是GEMS在大马第一间学府,该学校將提供英国课程项目,让学生参与国际中等教育普通文凭(IGCSEs)及大学先修课程(A Level)。此外,该校园于第一期可容纳的学生人数为1400人,计划在第2期將增加至3000人。预计该国际学校的第一批学生將于2015年9月入学。

分析员维持该公司的盈利预测,但持续看好檳城发展,因预测明年將有更多的投资流入檳城,而恆大置地將是主要的受益者。因此,该分析员维持恆大置地「买进」投资评级,及2.08令吉目標价格。
[東方日報]


26 Dec 2013, 09:50 PM
okass87


Tambun Indah to build international school

Tambun Indah Land Bhd will construct a RM38 million International school in its flagship township, Pearl City in Penang.

The property developer will lease the school, GEMS international, to its operator, GEMS Maju Sdn Bhd, for 30 years.

In a statement, Tambun Indah said GEMS International school was
slated to open in mid-2015 and GEMS Maju intended to invest a further RM32 million to equip the campus with necessary amenities and facilities.

Managing director Teh Kiak Seng said the international school
development was timely given the area's ongoing robust economic activity driven by numerous foreign direct investments.

"The establishment of an international campus within Pearl City – indeed, the first international school in mainland Penang – will certainly raise the profile of the township, as well as, enhance the vibrancy of our business park," he was quoted as saying in the statement.

Construction of the campus, targeted to commence early next year and estimated to complete in mid-2015, will be built on a 3.24-hectare piece of land in Pearl City Business Park, with a built-up area of approximately 18,580 sq metres.

The campus would be able to accommodate a student population of 1,400 under the first phase, with plans to increase its capacity to 3,000 students in subsequent phases.

The first intake would begin in September 2015.-- Bernama

26 Dec 2013, 09:50 PM
okass87

RHB Research maintains Buy on Tambun Indah

KUALA LUMPUR: RHB Research has maintained its Buy call on Tambun Indah with a fair value of RM2.08 after the group announced that it would build an international school in Penang.

In a note on Thursday, RHB said it continues to hold its positive view on Penang mainland, as more investments are expected to flow in next year, with Tambun Indah as the key beneficiary.

“Tambun Indah has entered into an agreement with GEMS Maju SB to construct a campus on an eight-acre site and, thereafter, lease it to the latter for 30 years.

“While the construction of Ph. 1 will cost TILB MYR38m, GEMS Maju will invest another RM32mil for the campus fittings that comply with specific requirements.

“Phase one will have a built-up area of 200k sqf, and according to the management, the rental for the first eight years is fixed at 8% of construction costs plus 4% of land value. From the ninth year onwards, there will be a step-up of 2% annually.

“This translates to about RM3.5mil yearly, or an attractive 7% yield, based on the net market value of RM35 psf, after a RM5 psf discount for the land,” it said.

It added while the recurring income is not substantial, the property assets are important to add value and spur demand for the township.

“Mainland Penang will see more investments flowing in next year, and Tambun Indah is a good proxy for mainland play,” it said.


01 Jan 2014, 05:34 PM
CNY2012
RHB Research maintains Buy on Tambun Indah

KUALA LUMPUR: RHB Research has maintained its Buy call on Tambun Indah with a fair value of RM2.08 after the group announced that it would build an international school in Penang.

In a note on Thursday, RHB said it continues to hold its positive view on Penang mainland, as more investments are expected to flow in next year, with Tambun Indah as the key beneficiary.

“Tambun Indah has entered into an agreement with GEMS Maju SB to construct a campus on an eight-acre site and, thereafter, lease it to the latter for 30 years.

“While the construction of Ph. 1 will cost TILB MYR38m, GEMS Maju will invest another RM32mil for the campus fittings that comply with specific requirements.

“Phase one will have a built-up area of 200k sqf, and according to the management, the rental for the first eight years is fixed at 8% of construction costs plus 4% of land value. From the ninth year onwards, there will be a step-up of 2% annually.

“This translates to about RM3.5mil yearly, or an attractive 7% yield, based on the net market value of RM35 psf, after a RM5 psf discount for the land,” it said.

It added while the recurring income is not substantial, the property assets are important to add value and spur demand for the township.

“Mainland Penang will see more investments flowing in next year, and Tambun Indah is a good proxy for mainland play,” it said.
04 Jan 2014, 12:59 PM
okass87

GEORGE TOWN, Jan 10 ― Popular Swedish home furnishing store IKEA is expected to open at a planned shopping mall in Batu Kawan in mainland Penang, state chief minister Lim Guan Eng said today.

Planning permits for the store, Malaysia’s first outside Kuala Lumpur, is expected by the end of the year or at the start of 2015 and construction is expected to take about 5 years, indicating an opening date in 2020.

“There had been talk of an IKEA store opening here since 2007 but it never took off so finally, now, we will have an IKEA store here,” Lim said.

The new mall and the IKEA store are part of plans to develop Batu Kawan as the 24km second Penang bridge which connects the town to Batu Maung on Penang island opens to traffic soon.

In the last few months, Lim has announced several other development projects slotted for Batu Kawan, including a RM1 billion project consisting of an upmarket outlet shopping mall, a 300-room international-class hotel and a branch campus of Britain’s University of Hull.

Ikano Pte Ltd, the franchisee for IKEA in Malaysia, Singapore and Thailand, formed a joint venture with local company, Aspen Vision Land Sdn Bhd, to develop the integrated shopping mall in Batu Kawan, with IKEA as anchor tenant.

The joint venture company, Aspen-Ikano, bought the 245 acres of land from state agency, Penang Development Corporation for RM483.95 million.

The IKEA store and the first phase of the shopping mall will take up 30 acres while another 45 acres is to be set aside for phase two of the shopping mall and the remaining 170 acres for mixed development.

- See more at: http://www.themalaymailonline.com/money/article/ikea-to-open-in-batu-kawan-in-penang#sthash.LGiUblzw.dpuf

10 Jan 2014, 09:48 PM
ILoveDividend


This is really a fantastic news to Tambun. Property price definitely will be getting more and more expensive in that area and profit margin of Tambun will continue doing well. Tambun will be a good growth stock for coming few years. thumbup
11 Jan 2014, 07:21 AM
wow123
You are wrong base on my cousin told me that S.P.U.,S.P.T.& S.P.S this area would not increase as much as island , for example in mindland the reason is feel , environment(dust,fly & bug),heavy traffic , alot foreigner went holiday time and also stay there , Security problem , these are factor have to consider. Also do you known batu kawan there area has been like dessert & foreigner haven and even my bro bought one 1 unit there but finally rented out to bagala , not much choice. Good luck guy.
30 Jan 2014, 11:08 AM
okass87

Forbes Asia 1/29/2014 @ 10:00AM

Malaysia's Teh Kiak Seng Builds Affordable Housing
This story appears in the February 10, 2014 issue of Forbes Asia.

By Noelle Lim

At 63 Teh Kiak Seng still wakes up early in the morning to inspect the construction projects of his company, Tambun Indah. The low-profile property outfit in Malaysia’s Penang state emerged as one of the Forbes Best Under A Billion smaller firms in 2013. From 2007 to 2012 its revenue and pretax earnings each had grown almost 25% on a compounded annual basis. Compared with 2012, in the first nine months of 2013 sales were up 16% while earnings grew 40%.

Most of this growth comes from its Pearl City project, situated on 1,100 acres in Seberang Perai on the mainland side across from Penang Island. Tambun accounted for 14% of the total number of homes sold in 2012 (latest data) in that area, which makes it a significant player there, according to real estate analysis by the Henry Butcher firm. Once Pearl City is completed it will be one of the biggest townships there, serving neighboring industrial parks. Seberang Perai has the longest industrial belt in the country, stretching 21 kilometers, and is home to multinationals like Honeywell and Dell . It is next to Bayan Lepas Free Industrial Zone, Asia’s early Silicon Valley, and is the production hub for semiconductor companies like Intel INTC -0.85% and Western Digital WDC -0.91%.

Teh saw the potential in Seberang Perai while others were building homes on the island, considered the more cultured and affluent side of Penang. It was an easier story to peddle as the old capital enjoyed a renewal in recent years, but Teh, who grew up on the mainland, held out for better land deals. He says, “Land on the island has become very expensive to acquire and develop. Young families would be looking for more affordable housing. That would be in Seberang Perai, where there are jobs.”

Tambun bought its first parcel of land in Pearl City for only $3.11 a square foot in 2008. A recent nearby purchase of 50 acres for $12.44 a square foot was made by Eco World, which is linked to Liew Kee Sin, a veteran property developer who led the takeover of the iconic Battersea Power Station in London. On Penang Island parcels are going for $37 to $47 a square foot, says Fook Tone Huat, an associate director at Henry Butcher.

Teh foresaw spinoff interest after noting resurging interest in Penang. In 2008 the island’s capital, George Town, was designated a Unesco World Heritage site for its architecture and history, which can be traced back to its status as a bustling port in the 18th century under British administration. It was then known as the Pearl of the Orient .

The year 2008 also witnessed a landmark general election for Malaysia. The incumbent federal coalition Barisan Nasional (National Front) lost two key states, Penang and Selangor, to the opposition after decades of rule. The states are the country’s most industrialized, with sizable ethnic Chinese populations. The new chief minister, a former accountant, went on a blitz to clean up state tender processes, trim spending and court investors. Buoyed by renewed optimism, property developers flocked to build million-dollar homes on the island.

The opposition maintained its grip on Penang and Selangor in the 2013 elections. Teh says, “The state government has been working hard, and there are more jobs for youngsters.” The Malaysian Investment Development Authority reported that from 2008 to 2012 Penang saw $8.4 billion worth of projects, second after Selangor (surrounding Kuala Lumpur) at $10 billion and just ahead of much promoted Johor in the south, $7.6 billion.

Connectivity is also improving. A second bridge, measuring 24km, linking the island and mainland, and a modern railway track in Seberang Perai are due to open in 2014. A train ride to the KL metropolis would take only three hours.

According to Teh, it’s not easy to acquire sizable land parcels in Seberang Perai because so many plots have been subdivided by moneyed families over generations. But in 2008 Teh’s reputation in the area led to a contact from Nadayu Properties to jointly develop land it owned, now Pearl City. Tambun Indah bought out Nadayu, resulting in it emerging as a 14% shareholder in the former.

Pearl City will comprise 11,000 homes as well as offices, light industrial plants, a retirement village, a village for furniture makers and a shopping mall. An international school, GEMS from Dubai, is expected to open in 2015. “The quality of Tambun’s properties is slightly above average,” Fook says.

Of the 1,100 acres of land roughly a third remains to build out. All in all the development should translate to pretax earnings of more than $187 million over the next six to seven years, according to a company estimate.

It was by chance Teh became a property developer. He was a civil engineer who’d designed and built 100 factories across the country. One was Dell’s assembly plant in Penang (also another in China’s Xiamen). In 1994 Tsai Yung Chuan, a client and Taiwanese businessman who operates an industrial fastener factory in Penang, asked Teh to jointly purchase and develop 101 acres of land in Seberang Perai. Tambun was incorporated with them as equal shareholders. Teh says, “The bank would not have lent me the money [for the parcel] had Mr. Tsai not guaranteed the loan.” In the latest filings Tsai’s shareholding is down to 8.5%, while Teh holds 38.4%, worth $67 million.

Tambun’s first project was gated housing. Teh says, “People told me I was mad to build bungalows on the mainland when it was more popular to stay on the island. To succeed we had to offer something different, which was big bungalows and a guarded community. Nobody was building quality homes in this area.” Those homes more than doubled in price from 1995 to 2012, to $286,000, according to Henry Butcher. Today Tambun’s residential units, aimed at middle-class buyers, are mostly priced below $187,000.

Teh, however, cautions that there could soon be a slowdown in housing demand in Penang. “But I believe we can overcome this as most of our projects are priced within what the general public can afford,” he says. “We have overcome the Asian financial crisis, which was severe, the dot-com crisis and the global financial crisis.” The company keeps a net cash position. Teh says his conservatism stems from growing up in a poor family.

He is the third of 12 children. In the runup to the Communist revolution his father fled China in the 1940s and settled in Penang as a storekeeper for his brother, who had arrived years earlier. After completing secondary school Teh followed a family friend to work in a construction site in Bertam, a remote island in Indonesia. That was his first taste in construction.

http://www.forbes.com/sites/forbesasia/2014/01/29/malaysias-teh-kiak-seng-builds-affordable-housing/

03 Feb 2014, 12:27 PM
wow123

We known their history GTP consulants and than JV with taiwanese guy but they never show up faces , But do you known after sales ? , According their house over there still settlement in between floor level and car porch road level. My friends has bought one unit double storey terrace house in tambun indah. Report can real or bull shit. Tongkah holding Berhad our Loh Mah son mah shi going bye bye close shop and delisted.
03 Feb 2014, 07:47 PM
wow123

We known their history GTP consulants and than JV with taiwanese guy but they never show up faces , But do you known after sales ? , According their house over there still settlement in between floor level and car porch road level. My friends has bought one unit double storey terrace house in tambun indah. Report can real or bull shit. Tongkah holding Berhad our Loh Mah son mah shi going bye bye close shop and delisted.
03 Feb 2014, 07:48 PM
okass87

产业市场虽放缓 恒大置地放眼5亿销售

产业市场虽放缓 恒大置地放眼5亿销售

二零一四年二月二十六日 晚上九时十六分


http://www.kwongwah.com.my/news/2014/02/26/128.html

(吉隆坡26日讯)尽管产业领域销售放缓,恒大置地有限公司(TAMBUN,5191,产业组)放眼在截至2014年12月31日止现财政年度,录得5亿令吉的目标销售额,因它将推介总值6亿令吉的产业。

上述数字稍高于去年创下的5亿令吉推介。

该产业发展商也预期,拜预测双位数收益成长所赐,2014财政年的盈利更佳。

恒大置地的旗舰发展是位于槟城北海的珍珠城计划。

该公司于截至2013年9月30日止首9个月录得4292万令吉净盈利,已经超过2012财政年全年的4081万令吉。

上述期间的收益则达2亿5798万令吉。

恒大置地董事经理郑克生透露,今年内,该集团将于大山脚推介一项称为Taman Bukit Residence的新计划,以及现有珍珠城的额外阶段。它们将拥有2层和3层商店办公室以及2层排屋。

“我们也将于4月开始在1100英亩珍珠城内,占地107英亩(43.3公顷)商业园的购物广场工程。首阶段面积29万平方尺将在一年内建竣,而次阶段则将占地30万平方尺。”

恒大置地之后将于6月展开其旗舰城镇的首间国际学校建筑工程。

郑克生说:“它将在9月于临时校舍首次开始招生,但GEMS国际学校将在2015年9月才全面完工。”

首阶段将可容纳1500名学生,但在全面建竣后,该校最终将可迎合高达2800名学生。

“GEMS国际学校将是槟城最大的国际学校。目前,槟岛共有6间国际学校,但在北海则没有。”

郑克生表示,该集团也策划在珍珠城兴建一座医疗中心。

他称:“我们现在着手细节策划,这间医疗中心将透过与一个医疗团队的联营进行。我们希望可在明年初落实。”

郑克生指出,国内的整体房屋活动已经开始略放缓,因政府在2014年财政预算案中实行了降温措施,如较高额的实业盈利税等。

不过他认为,放缓对行业将是‘良好’的,只要它不会爆发危机。

“我们已在1999年面对一次房产繁华,令一些地区如槟岛和吉隆坡的房屋价格攀至过高。因而,放缓将有利于房屋市场,因它将看到一些价格调整。”

据郑克生称,槟岛双层排屋的平均价格为80万令吉,但珍珠城的平均房价只有约40万令吉。

“珍珠城半独立房屋售价60万令吉,比较在岛上,它将耗资约160万令吉。因此,我们有信心可达到2014财政年的销售目标。”

他预测,市场将会在未来2年放缓,但“我不认为将会出现房屋泡沫”。

http://www.kwongwah.com.my/news/2014/02/26/128.html

27 Feb 2014, 10:06 PM
okass87

Tambun Is Simply Indah

http://bursadummy.blogspot.com/2014/02/tambun-is-simply-indah.html

27 Feb 2014, 10:06 PM
okass87


Highlight: Tambun Indah in fast lane despite slowdown

http://www.theedgemalaysia.com/highlights/277305-highlight-tambun-indah-in-fast-lane-despite-slowdown.html
27 Feb 2014, 10:10 PM
okass87

末季净利扬96% 恒大置地派4.6仙
财经新闻
财经
2014-02-28 10:42


(吉隆坡27日讯)恒大置地(TAMBUN,5191,主板产业股)2013财年全年净利上扬59.22%至6498万6000令吉,上财年为4081万3000令吉。
全年营业额也从上财年的2亿9670万8000令吉,上升26.85%至3亿7638万9000令吉。
末季净利则上升96%至2206万7000令吉,营业额扬57.38%至1亿1840万9000令吉。
截至去年杪,该公司未入账销售为4亿5540万令吉,相信会对公司未来2至3年盈利带来正面贡献。
此外,恒大置地也建议派发每股4.6仙终期股息,全年共派出2600万令吉股息,符合公司40至60%股息政策。

http://www.nanyang.com/node/602815?tid=462

28 Feb 2014, 10:24 PM
okass87

二橋帶動峇都加灣發展 檳房產股備受看好


http://www.chinapress.com.my/node/517649

15 Apr 2014, 08:58 PM
okass87
Tambun Indah Land - Prime Beneficiary Of Investments In Batu Kawan


http://cdn1.i3investor.com/my/files/dfgs88n/2014/04/15/1480245277--1036728571.pdf

15 Apr 2014, 09:04 PM
ILoveDividend
Target Price: MYR2.50

Tambun Indah, a pure Penang mainland play, is still the prime beneficiary of investment inflows in Batu Kawan. Despite the recent share price re-rating, its current market cap implies a land value of MYR28 psf for its 600-acre land in Pearl City, vs the current market price of MYR40-45 psf. Upside remains, as prices will be driven further by Eco World, IJMLD and Mah Sing. Maintain BUY, with a new MYR2.50 FV

Investor interest surges. As expected, investor interest on Tambun Indah has surged substantially, driven by the IKEA news flow and upcoming investments that will take place in Batu Kawan. We urge investors to watch out for more news flow over the next few months, including the award of tenders for a golf course and theme park land, and an investment involving a Singapore Government-linked company.

Implied land value yet to reflect market value. Based on Tambun Indah’s current market cap (and minus net cash), the implied value for its remaining 600 acres in Pearl City is only MYR28 psf, while the current market price for land parcels in Seberang Perai Selatan is going at MYR40-45 psf and Batu Kawan at MYR45-55 psf. The land value in Seberang Perai Selatan has probably jumped by 200-250% over the past two years, and we believe the uptrend will continue, stimulated by rising investment inflow in Batu Kawan. The growth trajectory is expected to be similar to what we saw in Iskandar Malaysia, where land prices leapt 3-5x over a period of 4-5 years.

Launching Raintree Park soon. Raintree Park is slated for launch in May and registrations have already started. Phase 1 (GDV MYR140m) comprises linked semi-ds, semi-Ds, terrace homes and townhouses, with prices ranging from MYR300k-530k. We expect brisk sales for this project, given the impressive designs and decent pricing, as well as the upcoming amenities – GEMS international school in Pearl City and a business hub in Batu Kawan. We are confident that price points for mainland properties will rise further when the bigger boys such as Eco World (ECW MK, NR), IJM Land (IJMLD MK, BUY, FV: MYR3.70) and Mah Sing (MSGB MK, BUY, FV: MYR2.44) start their launches there.

Reiterate BUY. Given the upside to land and property prices, we raise our FV to MYR2.50 (from MYR2.20), on par with the stock’s RNAV (from a 10% discount to RNAV), after adjusting our GDV assumptions. This should better reflect the land market value. The implied FY15 P/E based on our new FV is still reasonable at 8.8x.

Source: RHB
16 Apr 2014, 09:14 AM
ILoveDividend


Good result but share price cannot move up anymore.
29 Apr 2014, 04:40 PM
okass87


http://www.nanyang.com/node/617487?tid=462
29 Apr 2014, 08:47 PM

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