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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, TILB 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).
TILB'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.
MyKRIS and Ideal Jacobs headed for ACE Market
Besides TILB, two other companies — MyKRIS International Bhd and Ideal Jacobs (M) Corp Bhd — are also headed for listing, on the ACE Market.
According to its prospectus exposure, MyKRIS is making a public issue of 43.378 million new shares of 10 sen each comprising 10 million shares for application by the public, 30 million shares by way of private placement to identified investors and 3.378 million shares for employees and business associates.
Primarily a managed ISP providing secure wireless Internet access services, MyKRIS' core revenue is derived from its managed ISP operations and providing its proprietary web-based application software.
"We use Wi-Fi technology to create the wireless 'Last Mile' connection between our customers and our network of data centres and POP (point-of-presence)," said the group, adding that it currently operated two networks located in the Klang Valley and Penang.
MyKRIS said its target market for the secure wireless Internet access services included large corporate users, hotel operators, educational institutions and small and medium-scale enterprises.
According to its proforma income statements, MyKRIS' net profit for the year ended Dec 31, 2009 (FY09) jumped 112.5% to RM2.42 million from RM1.14 million the year before while revenue climbed 13.6% to RM7.93 million from RM6.98 million. It recorded net EPS of 1.4 sen for FY09.
As for Ideal Jacobs, it is making a public issue of 30 million new shares of 10 sen each, consisting of two million shares for the public and 28 million shares for private placement to selected investors.
The group said in its prospectus exposure that its core competency was in the manufacture of industrial labels and nameplates as well as laser cut/die-cut products. The production is undertaken by its subsidiaries Ideal Jacobs (Xiamen) Corp and in Ideal Jacobs Corp (Thailand) Ltd.
According to its proforma income statements, Ideal Jacobs' net profit for the year ended Dec 31, 2009 (FY09) surged 167.6% to RM4.94 million from RM1.84 million in FY08 while revenue grew 85.6% to RM14.2 million from RM7.56 million. It had net EPS of 4.12 sen for FY09.
According to its prospectus exposure on the Securities Commission's website, TILB 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).
TILB'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.
MyKRIS and Ideal Jacobs headed for ACE Market
Besides TILB, two other companies — MyKRIS International Bhd and Ideal Jacobs (M) Corp Bhd — are also headed for listing, on the ACE Market.
According to its prospectus exposure, MyKRIS is making a public issue of 43.378 million new shares of 10 sen each comprising 10 million shares for application by the public, 30 million shares by way of private placement to identified investors and 3.378 million shares for employees and business associates.
Primarily a managed ISP providing secure wireless Internet access services, MyKRIS' core revenue is derived from its managed ISP operations and providing its proprietary web-based application software.
"We use Wi-Fi technology to create the wireless 'Last Mile' connection between our customers and our network of data centres and POP (point-of-presence)," said the group, adding that it currently operated two networks located in the Klang Valley and Penang.
MyKRIS said its target market for the secure wireless Internet access services included large corporate users, hotel operators, educational institutions and small and medium-scale enterprises.
According to its proforma income statements, MyKRIS' net profit for the year ended Dec 31, 2009 (FY09) jumped 112.5% to RM2.42 million from RM1.14 million the year before while revenue climbed 13.6% to RM7.93 million from RM6.98 million. It recorded net EPS of 1.4 sen for FY09.
As for Ideal Jacobs, it is making a public issue of 30 million new shares of 10 sen each, consisting of two million shares for the public and 28 million shares for private placement to selected investors.
The group said in its prospectus exposure that its core competency was in the manufacture of industrial labels and nameplates as well as laser cut/die-cut products. The production is undertaken by its subsidiaries Ideal Jacobs (Xiamen) Corp and in Ideal Jacobs Corp (Thailand) Ltd.
According to its proforma income statements, Ideal Jacobs' net profit for the year ended Dec 31, 2009 (FY09) surged 167.6% to RM4.94 million from RM1.84 million in FY08 while revenue grew 85.6% to RM14.2 million from RM7.56 million. It had net EPS of 4.12 sen for FY09.
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