Tambun Indah posts record gains for FY13

Tambun Indah posts record gains for FY13
Business & Markets 2014
Written by Jonathan Gan of theedgemalaysia.com
Thursday, 27 February 2014 09:57

KUALA LUMPUR: Tambun Indah Land Bhd’s net profit doubled to RM22.1 million for the fourth quarter ended Dec 31, 2013 (4QFY13) from RM11.3 million in the previous corresponding period. Revenue jumped 57.4% to RM118.4 million from RM75.2 million a year earlier.

The stellar quarterly earnings helped boost the property developer’s annual net profit to a record high of RM64.9 million for FY13, up 59% from RM40.8 million in the previous year. Revenue was up 27% to RM376.4 million from RM296.7 million previously.

The group has proposed a final dividend of 4.6 sen per share. In total, it has declared a dividend of 6.6 sen per share for FY13.

Tambun Indah managing director Teh Kiak Seng said: “We are targeting to unveil new project launches with an approximate gross development value of RM600 million to capture the anticipated demand uptrend. We are optimistic 2014 will be another exciting year for us.”


This article first appeared in The Edge Financial Daily, on February 27, 2014.