Highlights
KLSE: TAMBUN (5191)       TAMBUN INDAH LAND BERHAD MAIN : Properties
Last Price Today's Change   Day's Range   Trading Volume
0.89   0.00 (0.00%)  0.89 - 0.92  302,800
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Overview

Market Cap: 386 Million
NOSH: 434 Million
Avg Volume (4 weeks):464,041
4 Weeks Range:0.875 - 1.03
4 Weeks Price Volatility (%):
9.68%
52 Weeks Range:0.875 - 1.54
52 Weeks Price Volatility (%):
2.26%
Average Price Target: 1.28
Price Target Upside/Downside: +0.39

Financial Highlight

Latest Quarter | Ann. Date 30-Sep-2017[#3]  |  22-Nov-2017
Next QR | Est. Ann. Date: 31-Dec-2017  |  23-Feb-2018
T4Q P/E | EY: 3.75  |  26.64%
T4Q DY | Payout %: 3.37%  |  12.66%
T4Q NAPS | P/NAPS: 1.33  |  0.67
T4Q NP Margin | ROE: 34.05%  |  17.82%

Headlines

Date Subject
23-Nov-2017 Tambun Indah - Supported by Attractive Dividend
23-Nov-2017 Tambun Indah Land Berhad - Sales Remain in Doldrums
23-Nov-2017 Mplus Market Pulse - 23 Nov 2017
29-Oct-2017 如何即时查询.大股东股权动向?
16-Oct-2017 TAMBUN(5191)恒大置地 - 未入账销售持续下滑,净利终究招架不住。~WSWT~
24-Aug-2017 Tambun Indah Land Berhad - Disappointing New Sales
24-Aug-2017 Tambun Indah (HOLD) - Improving New Sales
24-Aug-2017 Tambun Indah Land - Above Expectation
13-Aug-2017 130817: TAMBUN-Down but Not Out
02-Aug-2017 [转贴] Tambun 恒大置地 ~ BY乡下小子
19-May-2017 Tambun Indah Land - Beats Expectation
19-May-2017 Tambun Indah - The northern developer
19-May-2017 PublicInvest Research Headlines - 19 May 2017
19-May-2017 Mplus Market Pulse - 19 May 2017
10-Mar-2017 【阿弟】回顧 TAMBUN
01-Mar-2017 [转贴] Tambun FY 2016 Q4 季报分析 ~ BY 乡下小子
24-Feb-2017 Tambun Indah Land - Lower Sales Target for 2017
24-Feb-2017 TAMBUN INDAH LAND - 4Q16: Tumbling new sales
24-Feb-2017 Tambun Indah (HOLD) - Concern on shrinking unbilled sales

Business Background

Tambun Indah Land Berhad is a Malaysia-based investment holding company. The Company's subsidiaries are engaged in property development, investment holding and operation of car park, as well as project and construction management. It has a land bank of approximately 210.98 acres located mainly in Simpang Ampat, Bukit Mertajam, Juru and Butterworth in Penang. The Company's subsidiaries are Cenderaman Development Sdn Bhd, Denmas Sdn Bhd, Denmas Development Sdn Bhd, Epiland Properties Sdn Bhd, Hong Hong Development Sdn Bhd, Intanasia Development Sdn Bhd, Jasnia Sdn Bhd, Juru Heights Sdn Bhd, Langstone Sdn Bhd, Perquest Sdn Bhd, Tambun Indah Development Sdn Bhd, Tambun Indah Sdn Bhd, TID Development Sdn Bhd, TKS Land Sdn Bhd, Tokoh Edaran Sdn Bhd and Zipac Development Sdn Bhd. As of November 30, 2010, the Company had developed a total of 2,345 units of residential and commercial properties. In September 2011, the Company acquired Premcourt Development Sdn. Bhd.
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  15 people like this.
 
skvt9 happily accumulating Tambun Shares ! Yummy!! Nikicheong , Do you have any more position to sell to us ?
26/01/2018 17:25
skvt9 Bro , Tambun is for long play ! you can get juicy dividends while waiting for prizey return :)
26/01/2018 17:26
shortinvestor77 http://www.klsescreener.com/v2/news/view/336141
27/01/2018 09:09
skvt9 25 pieces of freehold lands with 6 approved projects, future GDP 3 billion , land cost around 5%. Gearing against equity less than 5% , employee option exercise price average 1.25
27/01/2018 09:32
Aaxfan The trend x look so good
28/01/2018 00:48
skvt9 It mean u can accumulate the shares at lower price :) Niki gonna sapu all if the price down further
29/01/2018 08:45
shortinvestor77 http://www.orientaldaily.com.my/s/229839
30/01/2018 09:02
jerrynyew 哇哇哇 感觉还没气氛啊
30/01/2018 19:08
Teo Jiunntian Dollar averaging
30/01/2018 21:40
skvt9 Need price to down further for DCA :)
31/01/2018 10:27
micsoh If buy in, don't know how much longer need to wait for it to rebound?
31/01/2018 15:57
poh_83 I think at least need >2 years to rebound, just keep it for dividend lol.
01/02/2018 13:45
Yippy68 no need la 2 year, two good qr sudah ok.
01/02/2018 15:01
Yippy68 lowest since April 2013.
01/02/2018 15:39
apolloang can buy if u willing to keep min 2 max 5 years....sure 1 day will rebound
01/02/2018 15:40
micsoh Afraid not bottom yet
01/02/2018 15:54
poh_83 Is ok, it keep drop then you keep buying, once it rebound then slowly sell....
01/02/2018 15:55
apolloang when bottom only done 100 share how to buy? nobody know when is bottom. if u feel it's cheap then buy and keep that's all.
01/02/2018 16:02
zero Dividend payout sustainable or not?
01/02/2018 18:00
fong7 dividend depends on earnings. lower earnings, lower dividend.
is penang that bad? really that bad?
competitions is fierce too, mahsing, eco world....invading penang...
01/02/2018 22:07
Jon Choivo Ok, i want me some tambun.
02/02/2018 13:33
Jon Choivo Tambun is a lesson in "what is already cheap can become much cheaper".

The people who paid 1.2 above, it was cheap-ish then. But at 0.95, its quite attractive given the type of property development company it is. Its nowhere near as good NTA or RNAV wise compared to say ORIENT, DAIMAN or PLENITUDE, but this company is much much more efficient with its capital allocation that those above, and yet, it trades at such low valuation.

Need to wait? At this kind of price, i can wait forever hahaha. Only question now is, where to find the money to buy, sell or deposit in money =(
02/02/2018 13:48
Aaxfan No one will know how deep can it falls lol
02/02/2018 14:15
zero Jon, good points - I like this company and how they treat their shareholders, but I'm waiting for the next Q - unbilled sales are very low and we need to watch out for potential plunge in earnings. The market, bearish as it is on property, may punish it severely a la Huayang.

I want to see more future revenue streams being secured before I commit.
02/02/2018 14:19
zero In short, what's in the pipeline for Tambun beyond Pearl City?
02/02/2018 14:22
Jon Choivo zero,

At this price, people are pricing it as if it has no prospect at all, that their net asset is worth less than what is written in the FS, and as if the management is rubbish.

All of which is untrue.

I'm not that big of a fan of projecting too far into the future. Pearl city and their current developments should keep it busy for the next 2-3 years.

ECOWORLD etc on the other hand, yes best management etc etc, but at 20 pe, you're paying for it and more imho.

Do note that i'm probably buying only a small 2-3% position, due to lack of cash and other just as attractive opportunities.
02/02/2018 14:31
Jon Choivo I can average down all the way if fundamentals does not change for the worse.

If it drops to 5 sen, ill privatize it. Hahahaha

Aaxfan No one will know how deep can it falls lol
02/02/2018 14:15
02/02/2018 14:31
zero Jon, thanks very much for sharing, those are really good points. The management, as far as I can see, is solid, make good margins, and is not averse to sharing with minorities.

I've been in some value traps, that's why I'm a bit more cautious these days, and look more to the Growth side.

Maybe you can help me privatise PARKSON too, where I've been stuck for a while ;)
02/02/2018 14:38
stopbombing sumatec, kedai laundry yang paling besar di dunia, bukan cuci baju, bukan cuci sotong, bukan cuci octopus, tapi cuci wang dan tidur dekat hindustan.
02/02/2018 14:39
zero https://www.forbes.com/sites/forbesasia/2014/01/29/malaysias-teh-kiak-seng-builds-affordable-housing/#176f7f35343f
02/02/2018 14:41
poh_83 new low price 0.945
02/02/2018 14:45
Aaxfan Anyone know what's the reason behind this drastic fall? I know the whole industry is not doing well but this particular stock is worse lol
02/02/2018 14:46
Aaxfan Planning to go in after cny
02/02/2018 14:46
jayteng with the opr increased, is bad for developers. seeing some more further down.
02/02/2018 14:52
poh_83 ya i think it will go down further....prepare cash to buy more to keep lol
02/02/2018 14:53
Aaxfan Monitoring LIIHEN as well. Another bottomless stock lol. Looking for the right time to enter both
02/02/2018 15:38
nikicheong Look, Tambun is actually a great company. It has a near 20% ROE (even in these difficult conditions!) while it trades at a mere 0.7x of Book Value! The dividend, even if halved, should still be a handy RM0.05/share, which should translate to an over 5% yield at current valuations. Balance sheet is relatively clean. Plus it solely has exposure to Penang property market, which according to some people I have spoken to, is in better health compared to the market in KL/Selangor/Johor.

The problem with Tambun however is the scary fall in unbilled sales. If you monitor its movement QoQ/YoY for the past 2 years, you see that unbilled sales have fallen to ALMOST NOTHING, yet the earnings have held up strongly. This means, logically, that at some point in the near future the earnings have to fall off a so-called "cliff".

Another problem with Tambun is the lack of future visibility beyond Pearl City, which can only sustain them latest until 2022/2023. However, this is not really a problem...rather it is an opportunity! Tambun has been seeking landbanking opportunities for a very long time already. The majority shareholder/owner is also the main corporate guy in-charge of the company. He definitely has a plan!

I am quite certain that as soon as Tambun does some landbanking its price will appreciate 20-30% and bring it back to book value at least.
04/02/2018 10:37
Fabien Extraordinaire Property market as a whole still in a downcycle. Market is merely discounting the future earnings prospect.
04/02/2018 10:43
shortinvestor77 Pearl City Mall in deed has been generating a recurring income already. That's why Tambun can keep a good profit even unbilled sales is decreasing(but still can last for a few more years, not zero like what nikicheong bullshit.). All investors must know its strength. Property market will soon rebounce at the time no body know when it is.
04/02/2018 20:41
nikicheong @shortinvestor, Pearl City Mall's recurring income is minuscule only lah. Nothing major. It's either RM5mil/q or RM5mil/year.
04/02/2018 21:50
poh_83 new lowest price 0.90 :(
06/02/2018 10:59
Benny1123 panic..
06/02/2018 11:17
poh_83 i want to top up at price 0.77 :)
waiting...
06/02/2018 11:20
shortinvestor77 大戶少少貨就可以推低股價震倉, 引來更多沽盤幫手進一步推低股價, 這是大戶一慣的做法! 散戶也是一慣服從, 樂意地聽話, 照做止蝕!!!
07/02/2018 20:47
khfoo88 一个稳健的领导层跟有信誉的发展商,业务跟现金流不错的公司何惧只有
08/02/2018 06:32
kancs3118 $0.70 is within grabs .....
08/02/2018 17:43
Kent Chong go 0.7
08/02/2018 23:26
fong7 wow....free fall....
09/02/2018 00:54
poh_83 collecting time... DDDDD
09/02/2018 09:11
investor1888 DEALINGS IN LISTED SECURITIES (CHAPTER 14 OF LISTING REQUIREMENTS) : INTENTION TO DEAL DURING CLOSED PERIOD
http://www.bursamalaysia.com/market/listed-companies/company-announcements/5687381
12/02/2018 10:01


 

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