Posted by Jimmy Song > 2014-12-01 08:24 | Report Abuse

TITIJAYA LAND BERHAD DELIVERS IMPRESSIVE Q1FYE2015 PAT INCREASES BY 34% PETALING JAYA, 28 NOVEMBER 2014 – TITIJAYA LAND BERHAD (“Titijaya” or the “Group”, “帝亿置地”), a growing property developer today marked its first year as a listed company on the Main Market of Bursa Malaysia Securities Berhad. The Group announced its first quarter results for its financial year ended 30 June 2015 (“Q1FYE2015”) with total revenue of RM87.7 million, representing an increase of 31.5% compared to the corresponding quarter in the last financial year (“Q1FYE2014”). During the quarter under review, the Group reported a profit before tax (“PBT”) and profit after tax (“PAT”) of RM31 million and RM23 million, representing an increase of 29% and 34% respectively compared to Q1FYE2014. In tandem to the results announcement, shareholders have also approved the Group’s decision to pay out a final single tier dividend of 4.0 sen per share at its second Annual General Meeting today. The dividend will be paid on 23 December 2014. “Today marks the Group’s first year being listed on the Main Market and we have certainly fared well throughout the year by delivering strong earnings for the Group. Our strong cash position and healthy balance sheet will be a key factor for us as we continue to scout for more lucrative and strategically located land banks.” Mr. Lim Poh Yit (“林保亿”), the Group’s Deputy Managing Director commented. Since listing, the Group has secured two major developments located in Penang and KL Sentral. More recently the Group acquired additional 70,000 ordinary shares of RM1.00 each in Tenang Sempurna Sdn. Bhd. (“TSSB”) for a total cash consideration of RM70,000 resulting in a total shareholding of 105,000 ordinary shares of RM1.00 each representing 70% of the equity in TSSB. The acquisition of TSSB was in line with the Group’s strategic direction as TSSB was awarded a Joint Development Agreement to undertake a development located in Kuala Lumpur. Since IPO, the Group increased its total GDV of RM4.0 billion to a total GDV of RM8.6 billion. During the quarter under review, the Group has launched two developments which are Emery @ Kemensah and Phase 3 of Zone Innovation Park. “We will continue to strengthen our position with strategically located land banks in the Klang Valley. At the same time, we will not hesitate to seize any good opportunities that may arise in the future. The Group is vigilant in every step of the way to achieve our vision of being a premier property developer in Malaysia.” The Group has also successfully passed all 8 resolutions at the 2nd Annual General Meeting today. For more information about the Group please go to http://www.titijaya.com.my/ *** About Titijaya Land Berhad Titijaya Land Berhad was founded in 1997 the Group’s Managing Director Tan Sri Dato’ Lim Soon Peng. The Group’s business is focused in three segments namely residential, commercial and industrial property developments. Since it undertook its first property development in 2001 to date, the Group has completed more than 3,000 units of properties totaling a GDV of approximately RM1.14 billion. Recently the Group was successfully listed on the Main Market of Bursa Malaysia on the 27 November 2013.