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股海宝藏:鹏尼迪只欠东风
槟城 购地战火 最高每平方尺叫价677令吉
Plenitude to launch RM1.27b projects in FY14
sunbiz@thesundaily.com
豪掷资金注入槟城 富商争宝地
摄影:摄影组
(槟城17日讯)隔别槟城20年的成功集团主席陈志远昨日重新回来槟州,一掷4.6亿令吉天价购买收购附属马场的一块57英亩黄金地段,为近期不断热烧的槟城经济及产业再注入新话题。
尺土寸金的槟城,过去一直都是眼光独到的富豪重点投资的地方,特别是地产领域,更是各大财团及富豪竞相争夺的生金宝地。
在陈志远把投资焦点转移回来槟城前,郭鹤年、李深静、杨忠礼机构、新加坡capitaland、马星集团、IJM、马顿等,都已经在槟城大展拳脚。
很早就在槟城拥有产业投资的郭鹤年,近年又开始重新活跃,继人气旺盛的新世界饮食中心及银行行的罗眼古迹产业完成复修后,其一块和德教会毗连的地段也已完成清空工作,近期将会有大动作。
IJM和马星集团在槟城展开多项产业发展工程后,近年更不约而同的相中最的增值潜能的槟岛东岸沿海的发展,IJM的日落洞沿海的The Light Waterfront发展计划和马星在峇都茅的南沙湾计划,都是可以为槟城沿海景观带来改头换面的大计划。
另外,槟城也被视为“死前必游岛屿”、“亚洲最适合居住城市之一”,以及最近获得著名杂志“经济学人”大力推崇。
富豪“槟”分天下
陈志远(成功集团) - 马场57英亩英金地
杨肃斌(杨忠礼机构) - 依恩奥酒店旁黄金地
郭鹤年(大马首富) - 新世界饮食中心、土库街罗眼古迹产业、德教会紫云阁旁黄金地
何晶(新加坡总理夫人) - 合您广场、皇后湾广场
梁海金(马星集团) - 峇都茅南沙湾发展计划
陈文成(IJM置地) - 敦林苍祐大道旁主要发展计划、The Light Waterfront
李深静(IOI集团) - 花地园屋业发展、北海工厂
刘启盛(实达集团) - 新港大型屋业发展计划
谭家汉(依恩奥集团) - 海峡港口广场、丹绒道光屋业发展计划
除了上述富豪,也有一些卧虎藏龙投资者未能尽录。
乌迪尼数栋高楼已平地起
在槟城立足已久的槟城怡保工程在槟城持续其大规模房地产计划,继日落洞大道旁填海计划的完成后,在乌迪尼海边路的“The Light”填海地发展计划将改变该区地貌,数栋高楼已平地而起。
而香格里拉集团的郭鹤年除了不久前被发现到夜兰亚珍广泰来喝咖啡外,其在槟城也有不少产业,其中在数年前投下钜资发展新世界饮食中心;而谢富年领导的双威集团早在1992年已进场槟城,在威省打造双威城,该集团在槟岛的发展计划包括巴央巴鲁的Sunway Tunas房产,Sunway Bukit Gambier及Sunway Aspera。
至于挂牌公司莫实得控股公司(Boustead Holding)的Royale Bintang皇家明登酒店计划也已呈上市政局,丹斯里洛丁为公司董事經理,之前皇家明登酒店计划因为高度被政府指示降低高度后,以致获州政府以巴央珍珠毗邻一块海域允许填海,该计划将涉及百依格地。
同样的来自吉隆坡的“亚洲环球商业公司”(AGB)也在海乾建造Rice Miller发展计划。该公司现由创立人Lim Choo Guan的孙女Kate Lim领导。
兴建依恩奥毗邻低密度公寓
至於金狮集团的百盛也在光大第一大道购物中心建峻后,再开分店。而杨忠礼机构也在年前与槟州发展机构签约,以发展在依恩奥酒店毗邻的低密度高级公寓计划。
此外除了来自国内富豪领航的集团对槟城投资的热衷外,市场消息说来自海外如中国及香港的投资者也专程来槟,寻找投资商机,使到槟城的经济产业一片炽热。
希查斯买下三排战前老店屋
除了高楼投资发展,槟城老屋产业也枪手,不少槟城以外的投资家也进场买老屋。
其中全球知名的建筑师希查斯卡斯杜里(Hijjas Kasturi)即一口气买下了座落於调和路、夜兰亚珍及克叻律的三排战前老店屋并发展为精品酒店Penaga。
希查斯卡斯杜里有不少的高楼建筑作品,其作品也获得不少荣誉,包括美国加州工程师公会於1989年颁发东协奖:古晋公民中心。吉隆坡证券委员会总部夺得2000年马来西亚建筑师公会卓越奖;2001年夺得马来西亚建筑师公会(PAM)颁发金奖表扬对马来西亚建筑贡献。
除了希查斯卡斯杜里,也有消息指出,同样知名的建筑师也已相中新街的老建筑,拟同样发展为精品酒店。
掀抢购古迹产业热潮 老房子价格水涨船高
槟城自2008年乔治市获得联合国世界文化遗产地位后,即掀起抢购古迹产业的热潮,几年前还泛人问津的老房子价格马上水涨船高,不到3年时间更已经出现几个翻倍的增长。
而原本已经被视为富人区的沿海地区,丹绒武雅、峇都丁宜,百万豪华公寓一栋接一栋的拔地而起,现在新兴起成为最蓬勃产业发展区的日落洞,沿海一带,做为槟城第二大桥据点的峇都茅海岸也成为高级产业高烧地,一些工程已经如火如荼的在进行中。
槟城发展近年获得外国投资者的看好,2010年成为全国最具吸金力的州属,以122亿3800万令吉傲视全国,在国际上更屡获殊荣,包括当选最适合居住城市、一生必游岛屿等。
乔治市世遗光环、日落洞大道及大片有待发展的地段,第二大桥通车后即将为槟城注入的经济活力,无不是槟城及大马富豪和大财团看好的的理由。
本土财团更加活跃
除了国内外大财团及富豪纷纷把资金调来槟城,槟城本土土财团及富豪家族在槟城也更加活跃。
文秀产业集团、国云集团、Asas Dunia、实达产业集团、汇华构机、玮力集团、依恩奥集团等,以地头蛇所独具的先天优势和对槟城经济脉博的掌握,在这一场产业大时代中更是扮演举足轻重的角色。
发展巴央珍珠百依格填海地
除了丹斯里陈志远“重返”槟城在耗资约5亿在马场地上投资地产外,市面上盛传陈志远胞弟丹斯里陈志成的Dijaya公司也将将联合本屿“玮力产业”(Ivory Properties)共同发展巴央珍珠的上百依格填海地,使到成功两兄弟将在槟城的产业发展分一杯羹。
除了陈氏兄弟档外,槟城也引来不少国外及国内知名富豪及商家进场,其中吉隆坡Pavilion购物广场发展计划幕后功臣的上市公司“马顿”(Malton)发展商也拟在玻璃池滑广东民律打造36层楼的高级公寓。
丹斯里陈志成是成功集团副主席,其两个孩子也是成功集团的董事之一。陈志成在1990年买入652依格的Tropicana高尔夫球场渡假村地,之后再买进400依格地发展Tropicana Indah计划。
而马顿老板为拿督林晓春(Dato Desmond Lim Siew Choon),他也是发展新街场马来西亚皇家空军基地成为回教金融中心的财团成员之一,该财团成员包括这个财团的其他成员还包括1MDB,武装部队基金局(Lembaga Tabung Angkatan Tentera),该集团在在首都的发展计划包括沙亚南Bukit Rimau发展,蒲种Mutiara Indah计划,Amaya Saujana, The Grove at SS23 PJ and The Pearl @ KLCC等。其他计划包括耗资1亿令吉的八打灵再也第16区的Pearl Villas计划、Hulu Klang的Ukay Springs发展计划等。
基设完善交通利便 槟充满优势
槟城之所以成为外国投资者及国内产业公司看好,除了对槟州的发展前景有信心外,槟城的基本建设和交通利便也是一大优势。
槟城是北马区的航空及海运中枢,峇六拜国际机场、槟城海运港口、完善的物流连接及后勤服务,槟岛及威省地区的自由工业区、世界文化遗产等,都是促成槟城成为大马甚至国际亮点的重要因素。
实达承建地下国际会展中心
也是马来西亚最大的上市房地产开发展实达集团(SP Setia)更在不久前获市政局批准承建引起争议的槟城地下国际会展中心,引起关注,实达集团在槟城的发展计划不少,包括新港珍珠岛(Setia Pearl Island),加拉歪路的Setia V Residence,该集团在槟城有不少的地库发展。
而IOI集团丹斯里李深静在丹绒道光发展的“Fettes Residence”的高级公寓也已完工,至于双威集团也在多年前已在巴央巴鲁立足,大事推展房地产计划,取得不俗口碑。
至于马星集团也在总执行长及董事经理拿督斯里梁海金领军下在槟城巴都茅、车水路拜吉道等也在改变槟城的地貌,其中在巴都茅的发展计划即相信数以亿令吉计,而在在巴都丁宜的发展计划也耗资约1亿5千万令吉,在拜吉道的Icon公寓也在拟定中。
在槟城立足已久的槟城怡保工程在槟城持续其大规模房地产计划,继日落洞大道旁填海计划的完成后,在乌迪尼海边路的“The Light”填海地发展计划将改变该区地貌,数栋高楼已平地而起。
而香格里拉集团的郭鹤年除了不久前被发现到夜兰亚珍广泰来喝咖啡外,其在槟城也有不少产业,其中在数年前投下钜资发展新世界饮食中心;而谢富年领导的双威集团早在1992年已进场槟城,在威省打造双威城,该集团在槟岛的发展计划包括巴央巴鲁的Sunway Tunas房产,Sunway Bukit Gambier及Sunway Aspera。
至于挂牌公司莫实得控股公司(Boustead Holding)的Royale Bintang皇家明登酒店计划也已呈上市政局,丹斯里洛丁为公司董事经理,之前皇家明登酒店计划因为高度被政府指示降低高度后,以致获州政府以巴央珍珠毗邻一块海域允许填海,该计划将涉及百依格地。
同样的来自吉隆坡的“亚洲环球商业公司”(AGB)也在海干建造Rice Miller发展计划。该公司现由创立人Lim Choo Guan的孙女Kate Lim领导。
至于金狮集团的百盛也在光大第一大道购物中心建峻后,再开分店。而杨忠礼机构也在年前与槟州发展机构签约,以发展在依恩奥酒店毗邻的低密度高级公寓计划。
此外除了来自国内富豪领航的集团对槟城投资的热衷外,市场消息说来自海外如中国及香港的投资者也专程来槟,寻找投资商机,使到槟城的经济产业一片炽热。
肥肉人人要 各路企业抢槟地皮
槟城早已成为投资者必争之地,其中不乏看好槟城潜能累积地皮,一旦地皮炒热即进场获取丰利,这些来自槟城以外的发展商是不少是吉隆坡上市公司的掌舵人,不是拿督就是丹斯里名流。
其中的名人即包括怡保工程(IJM)首席执行员兼董事经理拿督陈文成、依恩奥集团(E&O)董事经理拿督谭家汉、实达集团(SP Setia)董事经理兼首席执行员拿督刘启盛、马星集团(Mah Sing)总裁丹斯里梁海金、杨忠礼机构总裁丹斯里拿督斯里杨忠礼博士、金狮集团主席丹斯里钟廷森(百盛Parkson为金狮子公司)、香格里拉集团领航人郭鹤年、IOI集团董事主席丹斯里李深静,双威集团创办人兼主席丹斯里谢富年,甚至国际知名建筑师希查斯卡斯杜里等都已将触角伸入槟城。
发展巴都丁宜屋业
此外相信也有强硬后台老板的Plenitude集团也在巴都丁宜发展屋业,丹绒武雅海边酒店也是该集团其中一家子公司,该公司执行主席是蔡爱施,一般相信其背后有强有力财团。
依恩奥开展21亿填土大计
与此同时,依恩奥集团在丹绒道光开展中的斯里丹绒槟榔涉及在240依格填海地大兴土木,已完成计划包括海峡港口购物广场(Straits Quay),及平地三层楼排屋,现高级公寓也在积极施工中;该集团另一个总面积740依格的填土计划也不久前获槟州政府“原则上”亮出“绿灯”,在此填海地上开展耗资约21亿令吉的另一项填土大计,涉及的发展价值可高达150亿令吉。
深得投资者欢心 东方花园受欢迎
文:黄思来
被中国前国家主席江泽民形容为“碧海蓝天,风景如画”的槟城基于土地缺乏,州内的房地产普遍上深受投资者喜爱。
槟城是国内第二小州属,面积大约是1000平方公里,人口超过120万,算是人口最稠密的州属。槟岛人口每平方公里有2031.74人,而威省每平方公里有865.99人
随着本地与来自首都多个著名发展商去年起投入21亿令吉在槟城大事发展房屋单位,槟州特别是槟岛的房产价格估计已增值超过10%
这些信誉卓越的知名发展商包括上市公司、IJM置地、实达集团、阿沙士世界、马星集团、鹏尼、依恩奥、汇华产业、玮力产业集团等。更多把发展焦点集中在槟岛南区,CP置地上月以每平方尺420令吉价钱脱售40公顷位于皇后湾的土地予Asia Green发展公司,这单交易额达1亿6000万令吉。
最近,玮力集团也宣布在皇后湾附近的峇央珍珠买了41.50公顷地,该地段价格每平方尺240令吉。
此外,Boustead控股也获得槟州政府以40公顷面积填地作为修改该公司在古迹区发展酒店的赔偿。
槟城房价水涨船高,反映了槟州地价、建材成本昂贵、发展商提升房屋素质,以及国内外资金流入所致。
槟城是个好吃、好睡、好玩又好客的地方,绿岛如此多娇,房屋贵些也理所当然。
投资槟城受欢迎的特征还包括:乔治市被ECA列为亚洲最适合居住的10大城市,②联合国工业发展机构评估为最具活力的工业区域,③在MSC以外首个电子城市,④北区经济走廊的核心,以及⑤乔治市被列为联合国世界遗产。
■ 槟城马场黄金地。
■ 希查斯卡斯里的Penaga精品酒店外貌。
■ IOI产业在花地园的豪华公寓计划。
■ The Light Waterfront。
■ 杨忠礼集团位于古迹区边缘的黄金地。
■ 实产集团在槟城的大型屋业发展计划。
Plenitude’s bonus shares, dividend
KUALA LUMPUR: Plenitude Bhd yesterday proposed a first and final dividend of 15 sen per share, single-tier tax exempt, for the year ended June 30, 2010 (FY10) and a one-for-one bonus issue of up to 135 million shares.
Plenitude said the dates of entitlement and payment of the dividend would be announced later.
On the proposed bonus issue, Plenitude said it would be effected by capitalising RM17.6 million from the company’s share premium account while the remaining RM117.4 million would be capitalised from its retained earnings.
This article appeared in The Edge Financial Daily, September 8 2010.
Plenitude Bhd is ready to spread its wings in Asia
The listed developer, which reported a record net profit and revenue of RM78.6mil and RM347.8mil respectively for the financial year ended June 2008, is looking for the “right price and right location” in neighbouring countries, says executive chairman Chua Elsie. “In the next one or two years, we will be embarking on projects in other Asian countries but we are still looking to expand our land bank in Malaysia; that is our priority.
“Plenitude has about 1,619ha in Malaysia, of which half is undeveloped,” she said, adding that the company had some 810ha of undeveloped land in Johor Baru, Klang, Sungai Petani and Penang. “We are scouting around a few places on Penang island to increase our land bank,” she said in a recent interview.
On Plenitude’s recently launched Bayu Ferringhi development, Chua said the freehold project, comprising 44 luxurious semi-detached villas and 112 condominiums, would be built on 4.45ha at Jalan Batu Ferringhi. Prices start from RM1.76mil for the villas and RM761,000 for the condominiums. The project, to be undertaken by wholly-owned unit Plenitude Heights Sdn Bhd, will incorporate a tropical resort lifestyle theme. Chua said the new development was “especially significant” as it was Plenitude’s maiden property development here. “Although we have been very active in other states, it took some time for us to embark on a project in Penang because land is scarce here.
“We had to wait a long time for the ‘right’ piece of land and as soon as we got it, we launched Bayu Ferringhi,” she said, adding that despite the economic challenges, response had been encouraging. “Whether times are good or bad, people still need a place to live. We are offering low-density, value-added property located at prime location, so we are confident. “About 30% of the villas and condominiums are already reserved by purchasers and there have been many enquiries from locals and foreigners,” she said, adding that the gross development value (GDV) for Bayu Ferringhi was RM200mil.
The developer is targeting prospective buyers from Hong Kong, Britain and Europe to invest in its property under the Malaysia My Second Home Programme. Plenitude chief operating officer Khoo Yek San described the condominium units as the state’s first and only “bungalows in the sky”. “This project is special. The units are detached from each other, so it is like you are living in a bungalow in the sky,” she said.
She added that Plenitude, which also owns the Tanjung Bungah Beach Hotel here, would be developing its 0.76ha parcel next to the hotel next year. “We expect a GDV of RM200mil from that project and are considering serviced apartments although nothing has been firmed up yet,” she said.
27-Feb-09
By TheStar Newspaper
Plenitude : IKEA is coming to Town Soon!


IKEA Is Coming To Town, Soon!
After an anxious wait of almost 2 years for approvals from the relevant authorities, the sale of the 36.94 acres land in Taman Desa Tebrau (Johor) to the Ikano Group has finally been concluded, paving way for the latter to immediately commence the development works of its popular IKEA retail mall, the first ever in Johor. With IKEA joining in the ranks with the likes of Aeon Tebrau and TESCO by late 2010/11, plus the upcoming Monorail in the township, we are of the view that Desa Tebrau is one of the few townships in Johor that actually boasts the most commercial/investment sense. Earnings forecast and target price of RM4.77 remain unchanged.
A quick recap. On 20th July ’07, Plenitude sold its 36.94 acres of land in its Taman Desa Tebrau township to the Ikano Group for a total cash consideration of RM64.4m (RM40psf) with plans for the latter to develop its popular IKEA mall. Having to seek approvals from the relevant authorities such as the Foreign Investment Committee and the Johor State Government, the transaction was finally approved and completed on 20th February ’09. With an expected gross built-up area of approximately 280,000sq ft, the mall is anticipated to be up and running by late 2010 or early 2011.
Making its mark in Johor. If this construction schedule of the IKEA mall is promptly followed, its completion in 2011 will coincide with the expected recovery in the residential property market (especially in the landed properties), implying that the Desa Tebrau township as a whole will likely to feel the fullest benefit from the resurgence of homebuying activities by then, despite the stiff competition in the Johor State. Property sales in the township accounted for approximately 27% to the overall Group’s FY08 topline.
Strong footing to ride through the impending downcycle. As of 30th September ‘08, Plenitude is sitting on a net cash pile of RM176.6m (RM1.31/share) vs RM127.2m in 4QFY08. The recognition of this strategic disposal of land to the Ikano Group will potentially add a further RM55.95m (+41.4sen/share) to its current net cash pile after tax. Having such strong balance sheet and cash flow will ensure the Group to comfortably withstand any sales slowdown as a result of the expected downcycle in 2009.
Why should you accumulate now? Plenitude is currently trading at a forward P/NTA of 0.4x, a steep discount to peers’ average of 0.7x. Supported by dividend yield of 6.3% and strong net cash of RM1.31/share (and a further potential of +41.4sen/share), further severe downside risk to its share price from current level could be very limited. Coupled with its strong ability to ride through the impending storm in 2009, we believe now is the best level for investors to start accumulating.
A QUICK RECAP…
The Taman Desa Tebrau township (Iskandar Malaysia). The township has achieved a 90% take-up rate for its launches. 124 units of shoplots were successfully sold out within 3 months of launching. It recently launched the first Block D of Tebrau City Residences (Service Apartment) of 82 units with an average price of RM180k/unit, which fronts the AEON Tebrau City and upcoming TESCO hypermarket and IKEA retail store and has achieved a take-up rate of >60%. The township still has a landbank of approximately 600 acres for future development. Leveraging on its impending “IKEA-factor” on top of the existing AOEN departmental store and upcoming TESCO and monorail connecting the township to Johor Bahru CBD, this development
will continue to be one of the prime drivers to Plenitude’s earnings performance going forward. The property sales in the township accounted for approximately 27% to the overall Group’s FY08 topline.
Making its mark in Johor. Its strategic location within the Tebrau Corridor fronting the Johor Bahru-Kota Tinggi Highway and the Desa Tebrau Interchange located only 14km north-east of the Johor Bahru town centre has seen the township experience one of the fastest growth in population and property prices in the Tebrau Corridor enclave in recent years. The emergence of the following catalysts will, co-synergistically supporting one another, encourage a strong resurgence of encouraging home-buying interests in the township after the current pall in the residential property market by 2011:
(i) Aeon Tebrau (Jusco), the biggest Aeon departmental store in Asia began its operations in Desa Tebrau in January 2006, marked the first entry and establishment of a prominent landmark in the vicinity of the Desa Tebrau development project;
(ii) The upcoming TESCO hypermarket. Currently under construction, the hypermarket is expected to be operational by year 2009. Sited on a 10.898-acre of land, the land is leased to TESCO for 30 years starting from March 2006. This marked the second entry of another longterm prominent investor into the Tebrau City;
District (CBD) and Singapore. Nonetheless, we are unsure when will this Monorail .
(iv) The upcoming IKEA retail mall. Expected to be operational by year 2009/10, the retail IKEA is expected to have a total built-up area of 280,000 sq ft (IKEA Damansara in KL has an estimated built-up area of 344,445 sq ft). This again marks the third entry of another long-term
prominent investor into the Tebrau City.
Plenitude plans another RM200m development in Penang
30-01-2009: by Regina William
GEORGE TOWN: Plenitude Bhd is planning to embark on another residential development project worth RM200 million in Penang, fresh from launching its first residential project on the island today. Plenitude executive chairman Chua Elsie said the group's wholly-owned Plenitude Heights Sdn Bhd would be embarking on a project to build service apartments on a 1.8-acre site next to the Tanjung Bungah Beach hotel.
The project, which has a gross development value of RM200 million, was still on the drawing and would be launched in the near future, she said at the launch today of Bayu Ferringhi, the group's maiden property development project in Penang. Situated on 11 acres of freehold land along Jalan Batu Ferringhi, Bayu Ferringhi comprises of 44 semi-detached villas and a condominium block with 112 units with a total GDV of RM200 million. Chua said despite the global economic slowdown, the project had garnered 30% reservation from both local and foreign buyers even before its launch.
Most of those who have registered are buyers from Hong Kong and Europe. "We do not anticipate any problems selling this project as we have the right product. Whether the timing is good or not, people are still keen to invest in the property market," she said. Meanwhile, Plenitude is also hoping to spread its wings abroad and is eyeing landbanks in Asean countries for property development projects. "We have identified certain sites where we are keen to develop and if the price is right, we will go for it," she said. "We have targetted to start our overseas venture in the next two to three years. We are also looking at increasing our landbank in Malaysia."
She said the group has 2,000 acres of undeveloped land in Johor Bahru, the Klang Valley, Penang and Sungai Petani and another 2,000 acres which have been developed or are being developed. "We are also keen to develop more projects in Penang, and we are eyeing some strategic locations to buy and enhance our landbank," she added.
For its financial year ended June 30, 2008, Plenitude reported record profit after tax and revenue of RM78.6 million and RM347.8 million, an increase of 39.1% and 46% respectively over FY07.
PRESS RELEASE Date: 21 November 2008 PLENITUDE BERHAD’S IMPRESSIVE Q1
“Plenitude has an upcoming project in Batu Ferringhi which was earlier named Ferringhi Heights and is now renamed Bayu Ferringhi. Bayu Ferringhi, targeted to be launched in February 2009, comprises 44 units of 3-storey semi-detached houses and 112 units of condominiums all of which face the sea. Prices start from RM1.8 million for the semi-detached houses and RM761,000 for the condominiums. With the overwhelming interest generated in these properties especially under the Malaysia My Second Home Programme, Plenitude is confident that its maiden project in Penang will be a success.”, concluded Madam Chua.
Queries can be directed to Khoo Yek San Chief Operating Officer Contact No.: Tel: 603 6201 0051 Fax: 603 6201 0071
Plenitude may review some project launches
The company has a total of RM3.8 billion in GDV of on-going and future development projects with a bulk of it or RM3.4 billion in sum for residential projects. Executive director Tan Seng Chye said the company is closely monitoring the market demand and perception before it launches the projects. "Of course we want to go according to our plan but if the market softens, we will take appropriate action," he told reporters after the company's eighth annual general meeting in Kuala Lumpur yesterday.
The three upcoming projects are in Batu Feringgi in Penang, and Bukit Tunku and Damansara Heights in Kuala Lumpur. Tan said Plenitude has yet to feel the impact of economic downturn as "most of our current projections are near completion and their take-up rates have been strong".
"There is an indication of the market going down and I can't say how much we will be impacted or even our growth expectation for the current year," Tan said. He added that property will still be the main revenue contributor to the group and growth for the current year ending June 2009 will be derived from the sales it made in the previous years and current sales.
"We have locked in sales of RM216 million for this year," he said, adding that as far as the group's financial position is concerned, it is still very strong. Plenitude has a landbank of about 760ha that will keep it busy for the next 10 to 15 years. Tan said the company is continuing to scout for land here and abroad. "We are in a strong net cash position to acquire land and want to take the opportunity now as prices go down," he said, referring to Plenitude's net cash of more than RM136 million or RM1.01 per share as end June 2008.
For the financial year ended June 2008, Plenitude recorded a net profit of RM78.6 million and a revenue of RM347.8 million. Tan said its net profit margin is strong at 22.61 per cent when compared to other industry players, while its gearing at 1.4 per cent is relatively low against the industry's norm.
Earning Report Card Updates : Plenitude
PLENITUDE BERHAD’S IMPRESSIVE Q4 AND FULL YEAR RESULTS SURPASSES PREVIOUS YEAR
Kuala Lumpur, 22 August 2008 – Plenitude Berhad (“Plenitude” or the “Group”) today announced the Group’s Q4 and 12 months results ended 30 June 2008, well surpassing the performances of the preceding year corresponding periods. The Group’s Q4 revenue rose 42.6% from RM90.9 million in the preceding year’s corresponding quarter to RM129.6 million this quarter. The significant increase in revenue was attributed to impressive sales of properties which are under construction, completed and handed over in respect of Taman Desa Tebrau in Johor, Taman Putra Prima in Selangor, Bandar Perdana and Lot 88 in Kedah, The Residences of Changkat Kiara and Changkat View Condominium in Sri Hartamas, Kuala Lumpur; and the supply of building materials by PNT Materials Trading Sdn Bhd. The Group’s Q4 profit after tax was RM24.6 million, an increase of 15.5% from RM21.3 million recorded in the preceding year’s corresponding period.
The Group recorded a profit after tax of RM78.7 million and a revenue of RM347.8 million for the 12 months ended 30 June 2008. These are considerable increases of 39.3% and 46.0% respectively from the preceding year’s profit after tax of RM56.5 million and revenue of RM238.2 million. “Plenitude’s good performances and growth over the years are testament to our dedication and commitment in providing high quality products and services to our customers. The responses to our launches in the year under review have been very good and we will work hard to ensure that our future launches will receive equally if not better responses.”, said Madam Chua Elsie, Executive Chairman of Plenitude.
Plenitude : FY08 3Q Result
Its EPS on 3rdQFY08 was 19.23 sen and 9 months EPS is 40.09 sen
Earning Report Card
2. BLD Plantation reported RM 49.4 mil and RM 10.9 mil in revenue and net profit onQ4'07 which EPS is 12.05sen . The full year EPS is 41.1 sen . Current CPO price stay above RM 3000 since beginning of year and staying at RM 38xx now. The EPS growth is expected to exceed 50% if the 2008 CPO average price is above RM3000. Although BLD plantation is one of the cheapest plantation stock in the market but very little information provided on the number of planted acres and matured acres . It make investor diificult to estimate the company growth.
3. Oriental Holding reported RM1,259.9 mil and RM70mil in revenue and net profit on Q4'07 which translated to EPS = 12.61. The full year EPS was 61.21 sen in financial year 2007 and cash reserve has increased from RM 1.278billion in 2006 to RM 1.708 billion. The net cash generated from operating activities was RM473 mil. Accumulate the stock on price level which below the NTA RM6.40 and it expected plantation earning will continue to contribute positively in 2008.
4. Mahsing reported RM120mil and RM20mil in revenue and net profit on Q4'07 which translated to diluted EPS = 3.34 sen. The full year diluted EPS 14 sen. Should buy if the share price dip below RM1.50
5. Mamee reported RM88.2mil and RM4.5mil in revenue and net profit on Q4'07 which translated to EPS = 6.87 sen. The full year diluted EPS 21.1 sen. Rising cost of commodities which contribute significantly on the cost of sale, it is expect another tough year for Mamee. Hold
6. Mycron and Melewar continued to report poor result on last quarter.
Plenitude- 1stQ'08 report
NTA = RM3.95
Review
The Group achieved a profit after tax of RM11.99 million backed by revenue of RM53.33
million for the current financial period ended 30 September 2007. This performance was
mainly attributable to progressive profit recognised on properties sold, completed and
handed over in respect of Taman Desa Tebrau in Johor, Taman Putra Prima in Selangor,
Bandar Perdana in Kedah, The Residences and Changkat View in Sri Hartamas, Kuala
Lumpur. Apart from the profit contributed from property development projects, Tanjung
Bungah Beach Hotel in Penang has also contributed 2.5% to the Group’s net profit.
Comments
Reiterate buy call on Plenitude, it have several current and future development in stragety locations i.e. Sri Hartamas, Sepang , Desa Tebrau, Batu Ferringgi. Cash in bank stand as 70 million, large undeveloped land, focus management team and good dividend are the reasons to invest on this stock.
Plenitude -

COMPANY PROFILE
Plenitude was listed on the Main Board on the 18th November 2003. TheGroup has a diverse portfolio of business ventures related to the Group’s core competencies in property through its fi ve-wholly owned subsidiaries. This includes property development, property investments as well as beach hotel ownership and management. The Group’s success over the past few years is attributable to the development of its strategically located properties in the Peninsular Malaysia, namely Taman Desa Tebrau in Johor Bahru, Taman Putra Prima in Sepang, The Residences at Changkat Kiara and Changkat View Condominium in Sri Hartamas, as well as the Bandar Perdana in Sungai Petani. Plenitude still has over 2,000 acres undeveloped land with
a GDV of over RM4bn. In 2001, the Group acquired the 3-star, 200 rooms Tanjung Bungah Beach Hotel for RM19.1m from Danaharta. Plenitude has also acquired another 10.6 acres piece of freehold land at Bandar Batu Feringgi, Penang.
Taman Desa Tebrau project, JB. This RM1.9bn development, sitting on a 965.7-acre site and located only 14km away from JB town, has enjoyed a strong 86% take-up rate for its current launches so far. Currently with a GDV balance of about RM1.2bn or 61.3% of the total GDV, we expect the demand for properties in Desa Tebrau continue to be encouraging over the other developers within the Tebrau Corridor, following: (i) the recent opening of Jusco Tebrau City and the upcoming Tesco by year 2008; (ii) the upcoming monorail connecting JB and Desa Tebrau by year 2009.
planned for medium cost residential property and 23% for low cost apartments to meet the demand for affordable housing.
The Residences And Changkat View, Sri Hartamas. Plenitude is currently enjoying a rather encouraging take-up rate of more than 75% and 65% for The Residences and Changkat View respectively. Having recently launched Block C in Changkat View, the Group will be launching Block D condominiums together with The Batai and Liku bungalows soon with GDV of RM199m.
Bandar Perdana, Sg. Petani. Currently with a GDV balance of RM1.1bn (of the total RM1.3bn) awaiting to be developed, Bandar Perdana is experiencing a rather slower take-ups as compared to Plenitude’s other developments.
Henceforth as part of its aggressive re-planning to bolster the sales of its properties in Bandar Perdana, Plenitude to launch its Lot 88s fi rst, which carry even higher GDVs continue to refocus on selling its unsold units fi rst.
Bandar Batu Feringghi, Penang. Located along the important tourist belt in Penang, Plenitude has recently acquired this 10.6 acres piece of land and for developments of high-end cdominiums, semi-Ds and super-link units, plus a commercial area on a hilly tract overlooking the sea with an estimated GDV of over RM150m which will be launched sometime in year 2008
