Posted by nikicheong > 2017-10-08 21:44 | Report Abuse

Now that KWAP has started selling, better wait on the sidelines. They won't just sell a bit and keep quiet. Likely other institutional investors will start following KWAP's lead and increase the selling pressure.

I have set my entry at 0.75x of P/BV at RM0.96...but may revise it lower to a multiple of 0.70x at RM0.895.

Posted by jerrynyew > 2017-10-09 21:02 | Report Abuse

会下降那么多哦 是该停损 还是后面加码好呢

Posted by yfchong > 2017-10-10 07:52 | Report Abuse

add... at 1.08...... 1.00.... 0.95...

Posted by luckypunting > 2017-10-12 14:45 | Report Abuse

if the price stabilize and side way around 1.00 -1.10 then can consider the strong base ... Owner & MD, Mr TEH Kiak Seng start collecting so he himself is also seeing some value at this level :p

Quarterly profit of 20m (EPS = 4.66) shud be able to average out for full year. Estimate FY EPS = 18.64, with Div payout ration 38%, expects 0.07 dividend......applying x10PE, share price could value at 1.86 (compare to now 1.10 more room for uptrend?? :p)

So long no new launching due to slow market sentiments, lately only launched Pearl Saujana, probably can boost the Sales Revenue later...

The Group achieved an average take-up rate of 78.7% for its ongoing projects, with a total Gross Development Value of RM1.58 billion; and unbilled sales of approximately RM132.78 million. These should contribute positively to the Group’s earnings for the next two to three years. (net margin of 32%, translate to estimate unbilled profit of RM 42.47m, hopefully can cover for 2H2017)

Posted by yfchong > 2017-10-14 19:29 | Report Abuse

Some point.... ptbv abtb1.28.... currently ave pe for property act 4.5 if eps abt.. 20 cts... the rock bottom... estimated abt 90 cts...... so wait for 3q report,..... ample of time

Posted by yfchong > 2017-10-15 08:19 | Report Abuse

Expected 2017 div bat 7 to 8 cts... can lah

Posted by fong7 > 2017-10-16 10:45 | Report Abuse

if less project launch, with existing stocks sales not well, earnings should come lower. That case, dividend will also be affected. Huayang has been obviously happening this way.

My average price for Tambun is 1.39, bought since 2013 until recently also added some at 1.09 and 1.16. However, some bought at high price of 1.70-1.80 during 2015.

Posted by fong7 > 2017-10-16 10:47 | Report Abuse

anyone lives in Penang mainland, can tell us how's the housing business there. Is it really bad?

Posted by kancs3118 > 2017-10-16 17:42 | Report Abuse

The remaining undeveloped landbank is located at SImpang Ampat - which is about 10KM away from Batu Kawan - the new township in Penang. Just google Batu Kawan (BK). BK will host Penang's first planned city, IKEA, KDU University College, a hospital, Hull university, etc...It will be something like Sunway Quay / Damansara Utama. Big developers like ECO WOrld and MahSing and Sunway has landbank there. Hence, Tambun Indah maybe preserving their landbank at Simpang Ampat because the land price keeps going up day by day.

If not mistaken, TamBun Indah's land cost is dirt cheap. Currently, their margin at current sales is already at 40%. Once BK goes online - especially with ECO World's launching of ECO HOrizon at BK and ECO (dunno what's the name) at Simpang AMpat, the land price will surely go up again. Hence, Tambun Indah is just waiting for the right time to monetize their existing landbank at Simpang Ampat and maximize their profit margin.

Not surprising to see their profit margin to expand to 60% for future launches at Simpang Ampat.

By the way, if you go to TamBun Indah's sales gallery - you will see a big piece of vacant land owned by some other companies. Last time, Tambun Indah wanna purchase this piece of land but the sales was unsuccessful. According to Leong Kok Wen (RHB Research), despite the sales falling through - only TamBUn Indah has physical access to the land. So, I foresee a possible JV between Tambun Indah and that landowner.

You may wanna enquire about this in the future AGM.

Posted by I LOVE Hengyuan, SEXY BABE RM21 > 2017-10-16 22:32 | Report Abuse

Kwap dispose. Bye bye

Posted by yfchong > 2017-10-18 11:22 | Report Abuse

no hurry.... 2016 ... 360mil rev... 2017.... abt 300+/- mil... lets it rock again...

Posted by fong7 > 2017-10-19 01:06 | Report Abuse

thanks for the sharing, kancs3118.
my major two concerns.
1, is the economy there strong enough to attract that many people moving their homes there? mainly about jobs availability. What's Penang's government's plan on the Penang mainland? Industrial? Or Servicing business? Or what? Are businesses in Penang Island considering to move some of their expansion into the mainland? Or there are new investors? Because Penang somehow lack support from our government, for the sake of political concern.

2. As those giants (eco world, sunway, mahsing) moving in to the mainland, can tambun still survive? This leads to the question of is there enough populations to absorb that many properties.

Posted by YH Chan > 2017-10-19 19:50 | Report Abuse

starting to move up bit /.\

Posted by fong7 > 2017-10-19 22:54 | Report Abuse

cool! lets see how tambun unveiled values...

Posted by nikicheong > 2017-10-26 18:59 | Report Abuse

Aiya this is just price movement. Focus on fundamentals. I would personally wait a few more months. Worst is not yet over.

Posted by YDPChairman > 2017-11-01 14:15 | Report Abuse

I just bought 2 weeks ago at 110 and yesterday 118. Bought on the basis of dividend yield , with little or no prospects of growth. Hopefully, it will not drop 20% in 3 years and if it did, will treat it like FD return for 3 years!

Posted by jerrynyew > 2017-11-07 23:58 | Report Abuse

会是好的季度吗？

Posted by yingchai > 2017-11-08 08:27 | Report Abuse

Jerrynyew, wait for the quarter announcement only decide to buy or not?

Posted by YH Chan > 2017-11-08 20:09 | Report Abuse

Mr Teh Kiak Seng buying some to support the share /.\

Posted by Yippy68 > 2017-11-09 06:37 | Report Abuse

i enjoyed 7 years good dividend and capital gain from Tambun, quit and shifted to ECOWORLD as this giant has taken the leading role of Tambun in the north. sad to see it fall to 5 years low, i bought some yesterday to support , property market is still not that good but i just put in some of my profit back to TAMBUN, once my favourite.

Posted by Shines > 2017-11-09 07:11 | Report Abuse

Yes, it has scooped so low after the last div, collecting mood now

Posted by nikicheong > 2017-11-09 19:14 | Report Abuse

Man man lah. No hurry one. It's a good company for the long-term but the short-term is very, very challenging. Can start buying now if you want but make sure to average down every 10% drop and DO NOT SELL OFF no matter what!

I personally wait a while more before I get in. See if can get below one Ringgit or not.

Posted by shortinvestor77 > 2017-11-09 20:14 | Report Abuse

Smart investors.

Posted by primalee > 2017-11-10 23:52 | Report Abuse

Tambun properties affected by recent flood in Penang and Bukit Mertajam anyone?

Posted by Patrick13 > 2017-11-11 11:13 | Report Abuse

@Yippy68, hold 7 years.. Not easy man!

Posted by khcheah84 > 2017-11-13 21:41 | Report Abuse

big boy sold this stock

Posted by nich0las > 2017-11-14 12:37 | Report Abuse

WOW, big offer. 1.02-1.03

Posted by nikicheong > 2017-11-14 13:03 | Report Abuse

I would still hold out for a better offer. No hurry. Patience. However, if you are itching to buy now...start buying at RM1.02 if you must (@ 0.8X P/BV)...on two very key conditions:

1) You average down every 10-15% drop in price
2) You are able to hold for the very long term (i.e. 5+ years)

I guarantee close eyes this stock will net you double the returns in five years time (price gains + dividends). Stay the course. Do not waver.

Posted by jerrynyew > 2017-11-16 17:35 | Report Abuse

业绩差不多要出来了 不知道是否可以抬起来

Posted by chanyh > 2017-11-20 13:41 | Report Abuse

looks like kwap continue to dispose, share price might be plunge below RM1. 希望业绩别太差就好 /.\

Posted by wusichen > 2017-11-20 15:03 | Report Abuse

banyak sakit....

Posted by nikicheong > 2017-11-20 15:26 | Report Abuse

Just sell lah for now. Did you read the report about unsold residential units at 130k vs 10 year average of 72k? We are not at the bottom. More pain to come. There might have to be a severe correction in the property market.

Posted by Bullorbear777 > 2017-11-20 18:51 | Report Abuse

wow, big discount

Posted by bennike129 > 2017-11-21 08:41 | Report Abuse

I sold off mine some time back, preserve your capital first. If you really like this counter, you can buy back when it's stable again or when you see better prospect

Posted by Kareemabduljabbar > 2017-11-21 09:02 | Report Abuse

80 cts

Posted by Yiyi Um > 2017-11-22 00:46 | Report Abuse

Nonono, 30 cents

Posted by chanyh > 2017-11-22 17:38 | Report Abuse

Dividend 3 cent announced..

Posted by chanyh > 2017-11-22 17:46 | Report Abuse

better compare to preceding quarter in term of QOQ..okay la not bad.. xD

Posted by Alex Lim > 2017-11-22 18:13 | Report Abuse

Yes. Not bad. Well managed

Posted by cynachen > 2017-11-22 18:22 | Report Abuse

Latest quarter :

As at 30 September 2017, the Group achieved an average take-up rate of 75.0% for its ongoing projects, with a total Gross Development Value of RM1.16
billion; and unbilled sales of approximately RM95.03 million. These should contribute positively to the Group’s earnings for the next two years.

Previous quarter :

As at 30 June 2017, the Group achieved an average take-up rate of 78.7% for its ongoing projects, with a total Gross Development Value of RM1.58 billion; and
unbilled sales of approximately RM132.78 million. These should contribute positively to the Group’s earnings for the next two to three years.

Still no news on new landbanks ke? :-(

Posted by nikicheong > 2017-11-22 19:15 | Report Abuse

Are you guys crazy or what? The stock market is ALWAYS forward looking. Go and see the drop in unbilled sales. Latest figure is a measly RM95mil! There will be minimal revenue in upcoming quarters and profits will crash as the unbilled sales keep dwindling.

Tambun is a very good long-term prospect. But just based on this Q result I will not get excited. Rather the unbilled sales is at an ALL TIME low and not being replenished. Revenue is basically coming from here alone.

Posted by shortinvestor77 > 2017-11-22 23:02 | Report Abuse

That's how you think, nikicheong, not how we as shareholders think. No share don't talk cock here.

Posted by shortinvestor77 > 2017-11-22 23:02 | Report Abuse

Emir Zainul/theedgemarkets.com

November 22, 2017 19:25 pm +08



KUALA LUMPUR (Nov 22): Tambun Indah Land Bhd, whose third-quarter net profit fell 5.3% year-on-year, plans to launch three new developments with a combined gross development value (GDV) of RM213 million over the next 12 months.

Net profit for the three months ended Sept 30, 2017 (3QFY17) fell to RM23.89 million from RM25.23 million a year ago, mainly due to fewer ongoing projects and lower new property sales recorded given the overall market condition. Its new property sales came in at RM31.99 million in 3QFY17 compared with RM32.96 million in 3QFY16.

Earnings per share were also lower at 5.51 sen compared with 5.92 sen, while quarterly revenue dropped 16.9% to RM70.97 million from RM85.44 million, according to Tambun Indah's filing with Bursa Malaysia.

Nevertheless, the Penang-based property developer declared a first interim dividend of 3 sen per share for the financial year ending Dec 31, 2017 (FY17), payable on Feb 12, 2018.

For the cumulative nine months (9MFY17), Tambun Indah recorded a 12.2% decline in net profit to RM67.97 million from RM77.41 million a year ago, while revenue fell 20.6% to RM221.56 million from RM279.08 million.

On prospects, Tambun Indah warned that the outlook for the property industry continues to be challenging.

"Based on the foregoing and subject to successful implementation of the projects, the group expects to achieve satisfactory performance in the current financial year," it said.

In a separate statement, Tambun Indah said two of the three new projects to be launched are Palma Residency and Permai Residency, which are located at Bukit Mertajam, Seberang Perai Tengah.

The RM50 million-GDV Palma Residency features 90 two-storey terrace houses and is anticipated for launch by end-2017.

Permai Residency, meanwhile, comprises 92 units of two-storey terrace houses, with a GDV of RM53 million. This would be the first phase of Tambun Indah's development project in Kota Permai and is planned to be launched by September next year.

The third upcoming development is Palm Garden, located at the Pearl City township. This RM110 million GDV project features an 18-storey apartment block with facilities, comprising 335 units of serviced apartments.

"Overall, Tambun Indah reported average take-up rate of 75% across ongoing projects of RM1.2 billion GDV. The group also currently has a pipeline GDV of RM3 billion, as well as unbilled sales amounting to RM95 million, which should contribute positively to the group for the next two to three years," it said.

Tambun Indah shares closed unchanged at RM1.01 today, bringing a market capitalisation of RM437.63 million.



http://www.theedgemarkets.com/article/tambun-indah-pays-3-sen-dividend-amid-lower-profit-3q-launch-rm213m-gdv-projects

Posted by shortinvestor77 > 2017-11-22 23:05 | Report Abuse

Too good result with this price of RM1.01. Pearl City is really a right development project for Tambun to sustain the property downturn nowadays. A Like Matrix that develops the Sendayan Township.

Posted by nikicheong > 2017-11-23 00:45 | Report Abuse

So you are saying they will be able to sustain their business? I think RM1.02 is a decent buy in point to get one foot in, but at the same time the property situation is extremely weak all over the country.

Posted by cwkhor > 2017-11-23 08:59 | Report Abuse

Developers’ shrinking unbilled sales not quite a concern
http://www.theedgemarkets.com/article/developers-shrinking-unbilled-sales-not-quite-concern

Posted by nikicheong > 2017-11-23 09:14 | Report Abuse

RHB cuts TP from RM1.35 to RM1.10.

http://rhb.ap.bdvision.ipreo.com/NSightWeb_v2.00/Handlers/Document.ashx?i=9ada1678a11e42f5890b54ea3f1fc342

Posted by nikicheong > 2017-11-23 09:32 | Report Abuse

@cwkor, from your link:

"“As long as unbilled sales visibility remains close to one year in general and also assuming that developers can maintain flattish sales over the next couple of years, it would mean steady earnings trajectory over the next few years."

Tambun unbilled sales does not even offer visibility for 1.5 quarters. It is indeed worrying.

Posted by shortinvestor77 > 2017-11-23 09:40 | Report Abuse

Nikicheong, no share don't kacau here.

Posted by shortinvestor77 > 2017-11-23 09:41 | Report Abuse

Tambun developr knows what to do, not you. Tambun knows well about their business and we shareholders too, not YOU, PENGACAU!