Tambun: Sales Are Not Bad Indeed

Lets have a glance at Tambun Indah's Pearl City projects:

• Pearl Garden - OC
• Pearl Villa - OC
• Pearl Square 1 & 2 - OC
• Pearl Indah 1, 2 & 3 - OC
• Pearl Avenue 1 - OC soon (est 2015)
• Pearl Residence - OC soon (est 2015)
• Pearl Impian - OC soon (est 2015)
• Pearl Harmoni - U/C
• Raintree Park 1 - Open for sale
• Pearl 28 - Open for registration
• Avenue Garden Suites (condo) - Open for registration
• Central Avenue (shops) - Open for registration

Photo below shows the sales status of one of its latest launch Pearl Harmoni, which is priced at above RM400k for double storey terrace. It is 83% sold out of 362 units available. I think this is an extremely good response if the stickers are true.

       Pearl Harmoni

Raintree Park 1 also gets almost similar response from buyers for those units opened for sale.

Apart from Pearl City, other projects by Tambun Indah are:

• Carissa Park (BW) - OC
• Dahlia Park (BW) - OC
• Capri Park (BW) - OC
• Kelisa Residence (BW) - OC
• Tanjung Heights (BW) - OC
• Carissa Villas (BW) - OC
• Impian Residence (BM) - OC
• Camellia Park (BW) - U/C
• Straits Garden (PG) - U/C
• BM Residence (BM) - OC soon (est 2015)
• Bukit Residence (BM) - Open for sale
• Permai Residence (BM) - Open for sale

From recent new projects for sale, I think Permai Residence should be the one that will register poorest sales. 

However, it still achieves almost 70% take-up rate to date, which is not bad indeed. Other recent launch Bukit Residence achieves even better response compared to Permai Residence.

       Permai Residence @ Bukit Mertajam

Going forward, I think Tambun's top & bottom lines will be supported mostly by billings from Pearl Residence & Straits Garden. Its earning visibility should be good in the next 1-2 years.

If it wishes to generate consistent growth, more projects need to be launched continuously. So the recent land acquisition at Pearl City is positive for the company.

Construction for its International School is running fast while earthwork has been started for Pearl City Mall.

As its Pearl City grows in population and business activities, its accessibility need to be improved. I hope that Tambun Indah will acknowledge this and work closely with the local authority to ease the traffic in Pearl City before it becomes a big issue.

       GEMS International School @ Pearl City

Last month I have reduced my Tambun shares slightly. However, it does not mean that Tambun will not grow or it is not good anymore. Tambun is my largest share holding so whenever I need some money it will become the "victim". I have sold some before in April at RM1.95. 

My overall investment fund is still limited, I feel that I can't just put too much in Tambun now as there might be other stocks which can give better & faster growth.

Tambun has given me more than 200% gain on paper after holding it for 3 years. Its future is still bright, with the property spotlight being shifted to Seberang Perai Selatan. I will not sell all its shares unless its earning drops significantly or it does not give good dividends anymore.