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CS Tan
4.9 / 5.0
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....
Posted by Jimmy Song > 2014-03-03 09:12 | Report Abuse
NEWLY LISTED TITIJAYA LAND ANNOUNCES RM21.5 MILLION PRETAX PROFIT FOR ITS Q2FY2013 THE GROUP REPORTS A REVENUE INCREASE OF 8% PETALING JAYA, 28 February 2014 – Titijaya Land Berhad (“Titijaya” or the “Group”), a newly listed property developer delivered revenue of RM71.8 million for its 2nd quarter of the financial year ending 30 June 2014 (“Q2FY2014”), reporting a 8% increase compared to its previous quarter (“Q1FY2014”). The main contributors to the Group’s revenue were from property development activities, making up 99.6% of the total revenue while rental income contributed approximately 0.4%. The Group recorded profit before tax (“PBT”) of RM21.5 million and profit after tax (“PAT”) of RM15.6 million for Q2FY2014. In light of the financial performance for the quarter, the Group has achieved cumulative revenue, PBT and PAT for the first half of the current financial year (“H1FY2014”) of RM138.5 million, RM45.5 million and RM32.8 million respectively. “We are happy with our financial results for the first half of this financial year and we believe that we will be able to deliver strong earnings for the second half barring any unforeseen circumstances. We recognise the challenges in the industry and we are optimistic in the Group’s strengths and ability to persevere through these challenges and propel Titijaya to a higher level. We are committed in delivering innovative products that meet market demands and will continue to stretch beyond our comfort zone in order to continuously grow as a property developer and maintain a competitive edge.” commented by Mr. Lim Poh Yit, COO of Titijaya Land Berhad. Calendar year 2014 will be an exciting year for Titijaya as the Group has a portfolio of property development projects in the pipeline to be launched. These anticipated project launches with an estimated total gross development value (“GDV”) of RM2.6 billion, comprise of Embun low density, gated and guarded landed property in Kemensah, H2O serviced apartments in Ara Damansara, an integrated development dubbed Trio in Shah Alam , Mutiara Residence landed property, and the subsequent phases of Zone Innovation industrial park both located in Klang. The Group also plans to leverage on its completed and on-going developments to further strengthen its position within the Klang Valley area and at the same time explore opportunities in other hot spot areas such as Penang. Titijaya’s developments target the mass market, owner occupiers and genuine investors. The Group believes that their future developments will cater to the needs of the Gen Y and Gen Z population. Affordability, lifestyle and convenience would be the main factors in the purchasing decision of this particular market. The Group was successfully listed on the Main Market of Bursa Malaysia on 27th November 2013 which raised RM122.56 million from the IPO. The Group intends to utilise a portion of the IPO proceeds for acquisition of strategic landbanks. For more information about the Group please go to http://www.titijaya.com.my/