KUALA LUMPUR | TA3 & TA4 | 50 fl x 2 | Pro

[nazrey]

TA Enterprise to launch projects worth RM2bil next year
Saturday August 1, 2009

KUALA LUMPUR: TA Enterprise Bhd plans to launch a few property projects with a total gross development value (GDV) of over RM2bil next year due to an improving real estate market, said managing director and chief executive officer Datin Alicia Tiah.

The projects include a boutique residential development at Jalan U-Thant with a GDV of RM110mil and a condominium development at Dutamas worth RM300mil in GDV.

Also in the offing was a long-term mixed commercial development in Sri Damansara with an estimated GDV of over RM3bil over seven to 10 years, she said.

“The worst is over and greenshoots are emerging in the US market. The economic activities are still good but there is a lack of confidence,” Tiah told a press conference after the company AGM yesterday.

The company plans to launch shop-offices and small home office units in the first quarter next year and a mixed commercial development project opposite the Petronas Twin Towers in 2011 and another mixed commercial development in Bukit Bintang in 2012.

Tiah said its property segment contributed about 75% to group profit in its financial year ended Jan 31 (FY09) with the remainder from financial services.

“We expect to have a (more) balanced portfolio in FY10, particularly when the market is maintaining growth momentum,” she said.

Tiah sees TA’s property segment, with more than 1,000 acres of undeveloped landbank, to continue driving the group’s growth at least for the next three years.

TA also aims to build or acquire a hotel every year, according to Tiah.

It currently has three hotels – Radisson Plaza in Sydney, The Westin Melbourne and the Aava Whistler in Canada.

The company recently proposed to buy Mauritius company Quayside Gem Ltd, which owns Merchant Quay Pte Ltd of Singapore.

Merchant Quay is the owner of the four-star hotel Swissotel Merchant Court Singapore.

On the outlook for FY10, Tiah said the company expected a better performance due to the improving business sentiment as well as good take-up rates for its properties.

The group’s net profit slumped 59% to RM92.3mil in FY09 mainly due to the lacklustre performance and thin trading volumes on Bursa Malaysia and high provisions totalling RM50.6mil for impairment loss on financial receivables and investments.

“We expect to write back 80% to 100% of our provisions in this financial year,” Tiah said.

TA currently has a net cash position of more than RM400mil and unbilled sales of RM61mil.

On plans to list its property arm, TA Global Bhd, Tiah said it would be done by early November.

[nazrey]

TA Enterprise plans to buy one hotel a year
Written by Loong Tse Min Friday, 31 July 2009 17:36

KUALA LUMPUR: Stockbroking and property development group TA Enterprise Bhd intends to continue its hotel-buying spree, expecting to acquire at least one hotel property a year over the next two to three years

TA Enterprise managing director and chief executive officer Datin Alicia Tiah said on July 31 the group also plans to build two hotels in Kuala Lumpur.

Having only completed the purchase of two overseas hotels - The Westin Melbourne in Australia and Coast Whistler in Canada - the company drew attention on Monday for announcing a proposal to acquire the four-star hotel Swissotel Merchant Court Singapore. Before December, TA's hotel portfolio consisted only one hotel, the Radisson Plaza in Sydney, Australia.

Speaking to reporters after the AGM and EGM, Tiah said the company would launch property development projects worth more than RM2 billion in the next calendar year.

The new projects will include the first phase of the mixed commercial development in Sri Damansara with gross development value (GDV) of more than RM3 billion; a boutique residential development at Jalan U-Thant with a GDV of RM110 million and a condominium at Dutamas with GDV of RM300 million.

TA's current total undeveloped land bank of 1,000 acres was expected to last the group for the next 10 years.

For the current financial year, Tiah expects the earnings contribution to be 50:50 from property development versus financial services including brokerage and lending.

For its financial year ended Jan 31, 2009 (FY09), its financial services income shrank to 25% of net profit versus 75% from property development.

In total, TA's group consolidated net profit for FY09 fell 59% to RM92.3 million with revenue remained largely unchanged, falling only 2% to RM535.4 million.

The broking division saw net operating profit shrink by 75% to RM39.2 million due to lackluster performance and thin trading volumes on Bursa Malaysia, which saw net brokerage and commission income dropping sharply.

TA's group's property development division posted a 144.4% increase in net operating profit to RM165 million, which was 4.2 times that of the stock broking division.

Stock broking earnings were expected to recover to post earnings on par with the property division this financial year, "if market momentum maintains like this," Tiah said.

The group's property division, TA Global Bhd is expected to go for listing by October or early-November this year.

Property projects slated for launch beyond 2010 were mixed commercial developments in Bukit Bintang with GDV of RM1.3 billion for 2012, a project opposite the Kuala Lumpur Convention Centre worth GDV of RM1.2 billion for 2011, and the other phases of the RM3bil development in Sri Damansara that should run for a period of seven to 10 years.
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[Arkdriver]

this does not make sense, even it's less than a line you still want to post it! next time perhaps you would want to paste the whole novel here.

[nazrey]

Originally Posted by Arkdriver

this does not make sense, even it's less than a line you still want to post it! next time perhaps you would want to paste the whole novel here.

What's the problem with your senses! Next time...relax!

[khosim]

Originally Posted by nazrey

What's the problem with your senses! Next time...relax!

dun worry mate! it does makes senses! keep posting

[nazrey]

TA Global lines up RM7b projects over next 2 years
By Sharen Kaur Published: 2009/10/31
http://www.btimes.com.my/Current_New...cle/index_html



TA Global Bhd, which will rank as the country's fifth biggest listed property group in terms of market value, has lined up around RM7 billion worth of property development projects locally, to be launched over the next two years.

Director Datin Alicia Tiah said three projects will be launched in the second half of next year. They are Dutamas in Mont' Kiara, U-Thant 28 in Ampang and Seri Suria, a mix development in Sri Damansara.

By 2011, the group plans to launch Nova Square at the junction of Jalan Bukit Bintang and Jalan Imbi, and two 50-storey residences near the Petronas Twin Towers, in Kuala Lumpur.

Nova Square features an office tower, a serviced apartment block, a five-star hotel carrying the Aava brand, and a podium for boutique shops.

Tiah said the development order has been approved for Nova Square and it will be submitting its building plans soon.

"We will take a year to lay the foundation. Construction would take another three years. We are confident of selling the property due to its location. We will, however, retain the hotel, a few apartments and the podium for recurring income," she added.

Tiah said she expects TA Global to maintain its profits in the current financial year ending January 31 2010 and in 2011. But revenue may dip due to fewer launches.

"We expect higher margins from our overseas investment properties, thanks to foreign exchange gain. Locally, we sold many high margin products and the profits would be recognised over the next few quarters," she said.

Last year, TA Global made a net profit of RM92.9 million on a revenue of RM441 million.

"If things go well and we get faster approvals for our projects, TA Global may surpass the RM93 million in fiscal 2011," she said at the launch of TA Global's prospectus in Kuala Lumpur yesterday.

TA Global is due to list on the Main Market of Bursa Malaysia on November 23.

Its parent, TA Enterprise Bhd (TAE) is looking to raise RM230 million from the listing.

Tiah, who is TAE co-founder and managing director, said it will use the proceeds to pare down debt and for working capital to expand its financial services.

TAE folded all its property assets into TA Global to "unlock the hidden value".

The initial public offering entails 460 million ordinary shares of RM0.50 each at an offer price of RM0.50 apiece.

It will offer 360 million shares for private placement to selected Bumiputera institutions and investors, and 90 million shares to Bumiputera citizens, companies, societies, cooperatives and institutions by way of balloting.

Some 10 million shares will be issued to eligible directors and employees of the company.

TAE will retain a 57 per cent stake in TA Global after the listing, while TA Global executive chairman Datuk Tony Tiah Thee Kian will hold 8.1 per cent.

In addition, TA Global, which has total assets valued at RM2.4 billion, will raise RM135 million via a rights issue.

Proceeds from the rights issue will be used to renovate its Aava Whistler Hotel in Canada, acquire more assets and undertake new developments.

[nazrey]

NEW Proposal!

[nazrey]

image hosted on flickr

image hosted on flickr

http://www.flickr.com/photos/bakakuk/5134209669/

[nazrey]

TA Towers

Originally Posted by msyukry08

image hosted on flickr

[Ni3lS]

Thread title change: KUALA LUMPUR | TA3 & TA4 | 50 fl x 2 | Pro

[abtidon]

nice design

[lukman143]

Wah sungguh indah dan megah...Malaysia layak jadi tujuan utama wisata di ASEAN.

[nazrey]

>>>

Originally Posted by guy4versa

http://www.nry.com.my/

[RobertWalpole]

Beautiful!