KUALA LUMPUR (28 June, 2018): TA Enterprise and TA Global came together to hold a joint Annual General Meeting, marking the 28th and 10th AGM for both respective groups. Upon the ending of the fiscal year 31 December 2017, TA Enterprise was glad to announce a revenue of RM1,051.3 million, reflecting a positive 24.7% increase compared to the previous year, whereas TA Global managed to rake in a total revenue of RM745.1 million, a successful boost of 15.3% compared to 2016. In terms of profit before tax (PBT), TA Enterprise recorded RM302.3 million while TA Global brought in RM165.7 million.
(L-R: Ms Kimmy Khoo, Executive Director of TA Global Bhd, Datin Alicia Tiah, Managing Director and Chief Executive Officer of TA Enterprise Bhd, and Mr Tiah Joo Kim, CEO of TA Global Bhd)
“Despite the economic uncertainties, it is particularly pleasing to have achieved this level of revenue and the year has seen significant progress which is in line with our strategic business objectives. The company is growing from strength to strength and we are excited to accelerate our growth even further.” TA Enterprise stated.
The company’s improved revenue was 92.3% attributed from their overseas hotel operations, stockbroking and financial services, along with the investment holding divisions. The remainder was accredited to property development and investment, and the credit and lending segment.
Mr Tiah Joo Kim, CEO of TA Global Bhd, outlined the Company’s strategic plans for its development projects in the pipeline.
For TA Global, although the forecast of the property market seems soft, they are confident to create greater strides in the current financial year. ”Our portfolio sees the addition of Trump International Hotel Vancouver and upcoming solid projects in the pipeline, hence, we anticipate greater significant earning and yield increase in our property division in the near future.” The main drive for TA Global’s growth stems from their successful hotel operations, contributing to 89.5% of their total revenue, with 8.4% from property investments.
Mr Kaladher Govindan, Head of Research of TA Securities Holdings Bhd gave an overview of the global economic prospects
TA Enterprise’s dividend policy sees a consistent 40%-60% yearly pay-out of their net-realised profits to their shareholders, while TA Global’s dividend policy ranges from 20% to 50% of their net realised profits for the financial year. The final dividend for TA Enterprise was approved at 4.1 sen per ordinary share (totalling RM70.2 million), whereas TA Global’s final dividend per ordinary share was approved at 0.6 sen with a total of RM31.9 million.
About TA Enterprise
TA Enterprise Berhad is an investment holding public limited company incorporated in Malaysia on 13 March 1990 and has an issued and paid-up share capital of RM1,711,909,630.00. TA Enterprise Berhad is the ultimate holding company of the entire TA Group, with its shares listed on the Main Market of Bursa Malaysia Securities Berhad since 23 November 1990. TA Enterprise Berhad's scope of business interests include stockbroking, share financing, ESOS financing, fund management, derivatives trading and unit trust fund management.
For more information about TA Enterprise, please visit http://www.ta.com.my/
About TA Global
TA Global Berhad, one of the largest listed property development companies in Malaysia by market capitalisation, is involved in a diversified range of property services which includes property development, property management, property investment, trading and hospitality operations. In Malaysia, TA Global Group has made significant strides in establishing itself as a niche luxury lifestyle property developer with its successful launches of niche premium residential properties. In recent years, the Group has also established its presence in developing mixed development projects in Canada and Australia.
For more information about TA Global, please visit http://taglobal.com.my/
(Written by: Ashley Ooi, 29th June 2018)
