Wednesday, 13 June 2012

Tambun: Back In Cash

For FY2011, Tambun Indah was actively involved in land acquisition and as a result, its bank loan amount is ballooning. However, after the rights issues which raised at least RM44.2mil, it is currently back to healthy net cash position.

Tambun Indah has adopted a quick business turnover strategy like MahSing. It will quickly plan and launch the property once the lands are acquired.

These are Tambun Indah's recent land acquisition activities:
  • May 2011: acquire Palmington Sdn Bhd 60% for RM233.2mil with 526.8 acres land (Pearl City GDV RM2.2bil) - launched in stages
  • July 2011: acquire Pridaman Sdn Bhd 100% for RM4.65mil with 8.7 acres land (Juru Industrial Park GDV RM35.8mil) - launched
  • Aug 2011: acquire Ikthiar Bitara Sdn Bhd 45% for RM1.46mil with 2.82 acres land (Kelisa Residence GDV RM39mil) - launched
  • Sep 2011: acquire Premcourt Dev Sdn Bhd 100% for RM5.5mil with 4.19 acres land (Straits Garden GDV RM180mil) - launched
  • Dec 2011: acquire Ascention Sdn Bhd 50% with 3.9 acres land (Bukit Mertajam ?Taman Bukit Residence GDV RM24.3mil) - future development
  • Apr 2012: acquire Perquest Sdn Bhd JV with 3.26 acres land (Butterworth Jalan Mengkuang GDV RM37.5mil) - future development
      Latest launch: Straits Garden suites at Jelutong

Tambun Indah has a 3.9 acres future development Taman Bukit Residence which is situated off Jalan Song Ban Kheng in the heart of Bukit Mertajam. If not mistaken, it should be somewhere behind Shell petrol station at Jalan Song Ban Kheng.

Before the ex of its rights which are 9.9% oversubscribed and free warrants, Tambun Indah has a proposed first & final tax exempt dividend of 7.6% (3.8sen) for FY ended 2011. This proposed dividend was announced back in April 2012 before the ex of rights issues, does it still stand?

      Straits Garden Condominium

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