Tambun Indah up 3.96% on new project plans, dividend

KUALA LUMPUR (Nov 23): Shares in Tambun Indah Land Bhd rose 3.96% in thin trade early this morning after it unveiled plans to launch three new developments with a combined gross development value of RM213 million over the next 12 months.

At 9.09am, Tambun Indah rose 4 sen to RM1.05 with 60,500 shares done.

On the same day, it announced its net profit for the three months ended Sept 30, 2017, fell 5.3% to RM23.89 million from RM25.23 million a year ago, on fewer ongoing projects and lower new property sales. Quarterly revenue dropped 16.9% to RM70.97 million from RM85.44 million.

It declared a first interim dividend of 3 sen per share.

For the cumulative nine months, its net profit declined 12.2% y-o-y to RM67.97 million from RM77.41 million, while revenue fell 20.6% y-o-y to RM221.56 million from RM279.08 million. — theedgemarkets.com

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