ta ann holdings

 
 

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 […]


Earnings visibility continue for Ta Ann on plantations

KUCHING: Analysts continue to see earnings visibility for local timber and palm oil player Ta Ann Holdings Bhd (TA Ann) as plantations continue to provide reprieve, in spite of a slowdown in timber. This comes as it announced results for the first nine months of financial year 2017 (9MFY17) results came in within expectations at […]


The week at a glance 27 August 2017

Sabah & Sarawak Plantations division the star performer for Ta Ann Local player Ta Ann Holdings Bhd (Ta Ann) saw its core net income of RM68.9 million for the forst half of 2017 (1H17) coming in within expectations, with its plantations segment labelled as the ‘star performer’ by analysts.  To note, its core net income […]


Plantations division the star performer for Ta Ann

KUCHING: Local player Ta Ann Holdings Bhd (Ta Ann) saw its core net income of RM68.9 million for the forst half of 2017 (1H17) coming in within expectations, with its plantations segment labelled as the ‘star performer’ by analysts. To note, its core net income for 1H17 jumped 54 per cent year on year (y-o-y) […]


Small, mid-cap stocks poised to continue growth trajectory

KUCHING: Despite FBM Small Cap Index’s (FBM SC) high performance against the FBM KLCI, analysts believe small and mid-cap stocks are poised to continue its growth trajectory in the near future in line with more active retail participation. MIDF Amanah Investment Bank Bhd’s research arm (MIDF Research) said so far, the retail participation on Bursa […]


[Weekend Breakfast] The week at a glance 28 May 2017

Sabah & Sarawak Aiman Group returns to Sarawak’s O&G sector The Aiman Planet Borneo Group is returning to Sarawak’s  oil and gas scene with six separate memorandum of understanding (MOU) signings between its local subsidiary, Expro Marine Sdn Bhd and various international and local partners. The signing ceremony was officiated by Deputy Chief Minister Datuk […]