Dont worry. Bright future ahead. With two projects worth up to MYR4b in GDV and a potential confirmation of a MYR2.5b development award to come, Titijaya Land Bhd have much to look forward to in 2H15. Its MYR1.4b project in Brickfields, a 70:30 joint venture with Bina Puri Holdings Bhd, is targeted for launch around the same time as it plans to kick off its MYR2.2-2.6b Batu Maung project in Penang. Both projects are scheduled for launch in 2H15. (Source: The Edge Financial Daily)
Titijaya: Eyes more projects. Property developer Titijaya Land is mulling over development projects on two parcels of land in the Klang Valley to beef up its already large gross development value (GDV). Sources said that Titijaya was in the process of submitting a proposal to KTMB Bhd to build a massive commercial building on the piece of land that is located between the Subang Jaya Komuter station and Shah Alam. It is believed that there is an option for the building to be KTMB's new headquarters. The other parcel that Titijaya is targeting is located in the popular spot in Ampang near Mah Sing Group Bhd's M City project. The land, measuring less than 4.05ha, is near the Ampang-Kuala Lumpur Elevated Highway. Sources said the high-rise mixed development had a GDV of some MYR1b. (Source: The Star)
Property developer Titijaya Land is mulling over development projects on two parcels of land in the Klang Valley to beef up its already large gross development value (GDV). Sources said that Titijaya was in the process of submitting a proposal to KTMB Bhd to build a massive commercial building on the piece of land that is located between the Subang Jaya Komuter station and Shah Alam. It is believed that there is an option for the building to be KTMB's new headquarters. It has been speculated that KTMB is looking to unlock the values of some of its land, including its current corporate office, which is a heritage building located in the heart of the city. The proposal is also subject to approval from the Railway Assets Corp, a Federal statutory body under the Transport Ministry. "Even if the authority gives the green light, the project may take time and was unlikely to commence until 2016, as they have to realign the KTM track first," said a source. The other parcel that Titijaya is targeting is located in the popular spot in Ampang near Mah Sing Group Bhd's M City project. The land, measuring less than 4.05ha, is near the Ampang-Kuala Lumpur Elevated Highway. Sources said the high-rise mixed development had a GDV of some RM1bil. (StarBiz)
New chairman appointed. From ex-Navy. Currently also serve the LTAT as the chairman since 2007.
I guess other than LTH and AIA Fund, LTAT is building up their stake. AIA fund has already own collectively close to 5.6% and LTH stake is still below the 5% threshold. So does LTAT. Lim family own close to 62% if they don't sell to these fund. I remembered that few weeks ago, few millions shares were crossed around RM2.6x.
Believe that it will cross RM3.00 before year end.
Beautiful beautiful counter. They are taking a 30-40% damage hit fr the bank and Goverment cooling policy however oppose to many! their Landbank maybe considerably cheaper. This makes the company more resilient as they can continue to proceed with their launches during tough times ahead. The difference is, their holding period will be shorter between launches and they can lay more options to their launches as oppose to those with expensive Landbank. When you buy secondary and recent and in premium area, likely you are paying 8-10 times higher as oppose to 4 years ago. Hence when you develop a premium Landbank, you will likely to launch premium property also and the timing currently is not preferential to high end or very high end unless you have very strong marketing office abroad and can pull buyers to support your project. On the other hand, if you hold a Landbank that you have bought cheaper err 8-10 times cheaper, you can choose to spoil the market with cheaper launches though unlikely however it can be an option or sales strategy.
Think of this similar to sunken cost vs contractual cost. If you have sunken cost, you can choose how you want to spread your resources to achieve you objective however if contractual cost, you have only got the path of completing the project ASAP.
So now why do you want to choose a company with holding power due to optimal sunken cost, low debts and cheaper holding cost? Because they have a choice during bull market and during challenging times but those with high sunken cost , high debts and high holding cost will suffer.
Hope this short comment helps you to make a divisive decision on the counter you buy. Just as an example, UemSunrise predicts a tough 2025 while L&G thinks 2015 will be a better. See the diff between the two in pointers shared....
The beautiful thing about a Titijaya vs IOI is there is no history for Titijaya. IOI is relisted and certain fundamental linger with the investors......
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
barbarian
939 posts
Posted by barbarian > 2014-07-20 17:59 | Report Abuse
Got some at 2.76 expecting a fly by