ta ann holdings

 
 

Poor April start for KLCI continues as Asian markets fall

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KUALA LUMPUR (April 3): The FBM KLCI continued its poor April start this morning, tracking losses at most regional markets, following the overnight selloff at Wall Street. At 9.05am, the FBM KLCI fell 2.53 points to 1,855.82. The losers included Nestle (M) Bhd, Hengyuan Refining Company Bhd, Hong Leong Bank Bhd, Ta Ann Holdings Bhd, Globetronics Technology Bhd, Carlsberg Brewery Malaysia Bhd and Icapital.Biz Bhd. Asian stocks extended a global selloff and the yen rose on Tuesday as investors fled for safety as an escalating trade spat between the UnitedRead More


Ta Ann Holdings to acquire 30.39 per cent stake in Sarawak Plantation

SIBU: Shareholders of Ta Ann Holdings Berhad (TAHB) have approved the acquisition of 30.39 per cent stake in Sarawak Plantation Berhad (SPB) for RM169.9 million or RM2 a share. The approval was made at TAHB’s extraordinary general meeting held here yesterday. The acquisition will be financed by bank borrowings as well as internal funds. SPB […]


Ta Ann approves acquisition of 30.39 pct stake in Sarawak Plantation

  SIBU: Shareholders of Ta Ann Holdings Berhad (TAHB) have today approved the acquisition of 30.39 per cent stake in Sarawak Plantation Berhad (SPB) for RM169.9 million or RM2 a share. The approval was made at TAHB’s Extraordinary General Meeting (EGM) held at a hotel here. The acquisition will be financed by bank borrowings as […]


KLCI dips 0.32%, tracks losses at regional markets

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KUALA LUMPUR (March 13): The FBM KLCI fell this morning, tracking losses at most regional markets. At 9.05am, the FBM KLCI lost 0.32% or 5.89 points to 1,855.33. The top losers included Petron Malaysia Refining & Marketing Bhd, Hengyuan Refining Company Bhd, Hong Leong Bank Bhd, Hartalega Holdings Bhd, Malaysian Pacific Industries Bhd, MISC Bhd, Kossan Rubber Industries Bhd, Maxis Bhd, Muda Holdings Bhd and Ta Ann Holdings Bhd. Asian stocks stalled on Tuesday, halting an earlier rally after Wall Street shares lost steam, while the dollar sagged on theRead More


Ta Ann’s FY17 within expectations, plantation segment to continue driving growth

KUCHING: Ta Ann Holdings Bhd’s (Ta Ann) financial year 2017 (FY17) results came within expectations and analysts believe that its plantation segment could continue to drive the group’s growth going forward. For FY17, Ta Ann reported a net profit of RM119.252 million, and RM23.441 million for the fourth quarter of FY17 (4QFY17). According to MIDF […]


Analysts neutral on Ta Ann’s move to acquire stake in Sarawak Plantation

KUCHING: Ta Ann Holdings Bhd’s (Ta Ann) proposal to acquire a 30.4 per cent stake in Sarawak Plantation Bhd (Sarawak Plantation) garnered neutral views from analysts. In its report, the research arm of Kenanga Investment Bank Bhd (Kenanga Research) explained that it is overall neutral on the proposed acquisition as their estimated incremental associate profit […]


Stocks in Focus (12-1-2018)

KUALA LUMPUR (Jan 11): Based on corporate announcements and news flow today, companies in focus tomorrow (Jan 12) may include: LBS Bina, Ta Ann, R&A,…


Ta Ann buys 30.39% of Sarawak Plantation for RM169.94 million

PETALING JAYA: Timber company Ta Ann Holdings Bhd is acquiring a 30.39% stake in Sarawak Plantation Bhd for (SPB) RM169.94 million or RM2 per share in a related party transaction.

SPB’s share price edged up 4 sen or 2.3% to close at RM1.80, while Ta Ann fell 2 sen or 0.6% to RM3.51.

The purchase sum represents a premium of about 11.48% to its five-day volume weighted average price of RM1.7941.

Ta Ann said in a filing with the stock exchange, it had entered into a conditional share sale agreement with Cermat Ceria Sdn Bhd (CCSB) for the acquisition, which will be fully satisfied in cash and funded via internally generated funds and/or bank borrowings.

The proposed acquisition is consistent with its plan to further expand its oil palm plantation business and gain larger market access in Sarawak.

SPB Group has a total planted hectarage of 34,837 ha, which is made up of 26,825 ha of mature area and 8,012 ha of immature area respectively. Its oil palm estates are predominantly located at Niah and Mukah, Sarawak.

Taking into account 40.39% participation in SPB’s plantation estates, Ta Ann’s planted area is expected to be enlarged by about 23%.

Ta Ann executive chairman and major shareholder Datuk Amar, who has 7.30% direct and 27.82% indirect interest in Ta Ann via held by Mountex
Sdn Bhd, is also the controlling shareholder of CCSB.

In addition, Datuk Wahab Haji Dolah, Ta Ann managing director and CEO Datuk Wong Kuo Hea and Upaya Rajang Sdn Bhd are deemed persons connected to Datuk Amar by virtue of their major shareholdings in Mountex.


Timber division still a key concern for Ta Ann

KUCHING: Analysts are still concerned about Ta Ann Holdings Bhd’s (Ta Ann) timber segment’s short term outlook as its plywood division has been going through a rough patch, recently. Following a recent meeting with Ta Ann, the research arm of Maybank Investment Bank Bhd (Maybank IB Research) said that elevated timber inventory levels as at […]


The week at a glance 3 December 2017

Sabah & Sarawak Bintulu Port’s pre-tax profit increases to RM49.35 mln Bintulu Port Holdings Bhd’s pre-tax profit for the third quarter ended September 30, 2017 increased to RM49.35 million from RM48.93 million in the same period last year. Revenue rose to RM178.19 million from RM138.43 million previously, it said in a filing to Bursa Malaysia […]