With a smartphone in almost every pocket of the developed world, it’s safe to say that the way we shop and do business has changed drastically. Gone are the days where we rush to malls for year-end discounts – nowadays, most of us are eagerly awaiting by our phones or laptops waiting for the right […]
After a turbulent 2018, 2019 promises to be a slightly better year for Malaysia’s corporate world, with the absence of uncertainties such as the general election held in 2018, the transition of power in the Federal Government, the introduction of several new policies, and others. However, with the changes in policies, and several macro uncertainties […]
KUCHING: Local authorities looking to implement a digital tax on eCommerce transactions may have indirect impact on logistic players in the form of parcel delivery volume growth. The research team at Affin Hwang Investment Bank Bhd (AffinHwang Capital) in a special report said Malaysia was not alone with conventional tax mechanisms falling behind the emerging […]
PETALING JAYA: Tiong Nam Logistics Holdings Bhd’s wholly owned subsidiary Medini Heritage Sdn Bhd (MHSB) has entered into a sale and purchase agreement (SPA) with Pasti Prestij Sdn Bhd (PPSB) to purchase a piece of freehold land measuring measuring 40.613ha in Johor Baru for RM40.22 million.
MHSB, which is in the business of property development, plans to carry out real estate development of the land which is expected to be completed within two years.
The land is located in the Eastern Gateway of Iskandar Malaysia, close to Pasir Gudang Industrial Hub and Tanjung Langsat Industrial Park. The land is 5.5km away from the Senai-Desaru Highway, one of Johor’s major expressways, which connects to other major road arteries in the state and 30km away from Johor Baru city centre and the Customs, Immigration and Quarantine complex.
The group intends to fund the payment of purchase price and the development cost of the land through internally generated funds and/or bank borrowings.
The sale and purchase of the land is estimated to complete within six months from the Estate Land Board’s approval.
“The rationale for the purchase of the land is to enlarge Tiong Nam group’s existing land banks in strategic location in order to enhance its future revenue and profit.”
The gearing ratio of Tiong Nam group is expected to increase by 4% following the payment of purchase price. The group’s latest audited gearing ratio as at March 31, 2017 is 109%.
KUALA LUMPUR, June 6 — Tiong Nam Logistics Holdings Bhd’s subsidiary Medini Heritage Sdn Bhd has acquired 40.6 hectares of vacant land from Prestij Sdn Bhd in Johor Baru for RM40.21 million. Medini Heritage’s principal activities consist of…
KUCHING: Analysts are neutral on three major transport subsegments – aviation, shipping and logistics – following the possibility of the US imposing additional tariffs on China. Looking at aviation, MIDF Amanah Investment Bank Bhd’s research arm (MIDF Research) believed travel demand should stay elevated based on the strong underlying demand of passenger traffic despite the […]
KUCHING: Tiong Nam Logistics Holdings Bhd (Tiong Nam) could face earnings pressure in the short-medium term as a result of rapid expansion and the start-up of new businesses but analysts are still positive on the group’s long term prospects. Following an analysts’ briefing with Tiong Nam, MIDF Amanah Investment Bank Bhd’s research arm (MIDF Research) […]
Sabah & Sarawak SC: Small unlisted companies encouraged to adopt MCCG Besides listed companies, Securities Commission Malaysia (SC) also encourages smaller, unlisted firms to adopt the Malaysian Code on Corporate Governance (MCCG), a set of best practices to strengthen corporate culture anchored on accountability and transparency. “We are always trying to encourage small unlisted companies […]
KUCHING: Leading logistics and warehousing provider Tiong Nam Logistics Holdings Bhd (Tiong Nam) continues to expand its logistics and warehousing services segment and is allocating capital expenditure (capex) of RM100 million for the financial year ending 31 March 2018 (FY2018). The capex will be utilised to purchase new vehicles to grow the group’s transportation fleet, […]