Sanichi to gain RM40m from maiden property foray
Published at 2015-01-20 09:37:01 by The Edge

KUALA LUMPUR: ACE Market-listed Sanichi Technology Bhd is expected to reap a pre-tax gain of RM40 million from its maiden mixed-use property development in Klebang, Melaka, which will be launched in March.

“This is simply by subtracting the project’s GDV (gross development value) and its development cost,” its managing director Datuk Dr Jacky Pang Chow Huat told The Edge Financial Daily in a phone interview yesterday.

Dubbed “Marina Point”, the project features 352 small office/home office (SoHo) units and 120 retail units, with a total GDV of almost RM170 million.

“Showroom units are currently under construction and are expected to be completed by the end of next month,” said Pang, adding that the project will contribute “significantly” to the group’s earnings by 2015/16.

Sanichi, a precision plastic injection mould maker, last year ventured into property development.

For its first financial quarter ended Sept 30, 2014 (1QFY15), Sanichi (fundamental: 1.95; valuation: 1.2) saw its net profit shrink to RM589,000 from RM1.83 million a year ago; while revenue fell 28.2% to RM4.9 million from RM6.82 million in 1QFY14.

Despite a slowing property market, Pang is confident that Marina Point will attract foreign buyers mainly due to lower foreign property ownership barriers in the state and the weaker ringgit.

“I think it is the Klang Valley and Johor Baru (property markets) that are slowing down, not Melaka’s. The minimum entry point for foreign ownership is still RM500,000, and coupled with the weakening ringgit, our property project becomes cheaper for them [foreigners to buy],” he said.

Pang said Sanichi had engaged CBD Properties Sdn Bhd to market the project in Singapore and Hong Kong, forecasting equal ownership from foreign and local buyers at Marina Point Melaka.

Going forward, he said the group is keen on acquiring affordable suburban land around the Klang Valley.

As at Sept 30, 2014, Sanichi’s cash position stood at RM57.4 million.

Apart from land acquisitions, Pang said the money will also serve to expand its plastic business albeit on a segmental basis. He foresees property development will contribute about 80% of Sanichi’s revenue in the future. Pang has been accumulating shares in the group since October last year. As at Jan 6, 2015, he had a 3.28% stake in the group.

“As long as there are people willing to sell, I am willing to buy. Shareholders are confident of the company, so am I,” he said.

The group’s largest shareholder is currently Pelaburan Mara Bhd with a 15.33% stake, followed by Mah Wee Hian @ Mah Siew Kung who owns 10.4%, according to filings with Bursa Malaysia.

Sanichi shares closed up one sen or 11.11% to 10 sen yesterday, with 15.29 million shares transacted, giving it a market capitalisation of RM91.25 million.



This article first appeared in The Edge Financial Daily, on January 20, 2015.

Sanichi甲州發展計劃 令吉貶值可吸引外國買家
Published at 2015-01-20 07:00:09 by 中国报

報導：凌枝棉

　（吉隆坡19日訊）儘管最近房產市場較冷淡，但Sanichi科技（SANICHI，0133，創業板工業）看好旗下Marina Point計劃，將因為令吉貶值吸引更多外國買家，特別是馬六甲這個旅游勝地。

　Sanichi科技董事經理拿督彭昭發告訴《中國報》，令吉越來越便宜，現在就是買房的好時機，來自中國、泰國、新加坡、香港的購屋者都是潛在買家。

3月初正式推銷

　加上馬六甲是個旅遊勝地，相比吉隆坡和新山，位于馬六甲的房屋都較便宜，50萬令吉左右都有，很多國外投資者都喜歡到這裡買房。

　“我們的目標市場是國內外購屋者，其中國內購屋者料占60%。”

　彭昭發相信，國內購屋者依然對馬六甲的房市很有興趣，因為可把房屋出售給國外購屋者。

　“展廳單位建築工程料2月底竣工，我們將在3月初正式推銷，有信心短期內訂購率可達70%至80%。”

　Marina Point建築工程已開動，承台（pile cap）已完成，現在正打樁，相信整個建築工程能在2017年中前完成。

　他指出，這個發展總值達1.6億令吉的房產項目，料能貢獻至少40%淨利。

　“展望未來，若未來業績表現標青，我們有信心可派息回饋股東。”

瑪拉投資去年增持至11.26%

瑪拉投資有限公司（Pelaburan Mara）去年增持Sanichi科技股權至約11.26%，是主要股東。

　彭昭發說：“這可證明瑪拉投資看好我們公司的前景，特別是馬六甲這個房屋項目。如果真的做得好，他們未來或繼續增持。”

　彭昭發指出，具有120間商店單位及352間SOHO服務式公寓的Marina Point坐落在馬六甲吉里望（Klebang），一塊永久地契的土地上，離馬六甲市區只有5分鐘駕駛路程。

　提供的公用設施包括游泳池、健身房、空中酒吧、空中花園、停車場、24小時保安和閉路電視。

　發展商將負責全面管理所有零售單位。