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NewsTambun Indah 3Q profit up 58% y-o-y, declares 2 sen dividend
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Tambun Indah 3Q profit up 58% y-o-y, declares 2 sen dividend
by Cals Tue 19 Nov 2013, 21:33
| Tambun Indah 3Q profit up 58% y-o-y, declares 2 sen dividend |
| Business & Markets 2013 |
| Written by Ahmad Naqib Idris Adzman Shah of theedgemalaysia.com |
| Tuesday, 19 November 2013 18:27 |
A dividend of 2 sen per share was announced by the group, and will be payable on 18 February 2014.
Revenue also increased to RM97.1 million in 3QFY13, up 27% from RM76.6 million in 3QFY12.
In the nine months to September 2013, net profit increased by 45% to RM42.9 million from RM29.6 million in the previous year corresponding period.
Revenue for 9MFY13 had also increased by 17% to RM258 million from RM221 in 9MFY12.
The positive results in terms of profit and revenue were attributed to improved sales from the group’s residential and commercial properties development in the Pearl City township.
“Our strong financial performance for the third quarter reflects the growth of Batu Kawan, mainland Penang, in terms of housing demand and industrialisation activities,” says Ir. Teh Kiak Seng, managing director of Tambun Indah Land Berhad.
Teh Kiak Seng cites the influx of foreign direct investment (FDI) and the upcoming opening of the Penang Second Bridge as the driving factors of Pearl City’s growth.
The group remains “optimistic to end FY2013 on a high note.”
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