Tambun Indah Land gets SC nod for listing

KUALA LUMPUR: Property developer Tambun Indah Land Bhd has been given the nod by the Securities Commission to be listed on the Main Market of Bursa Malaysia.

In a statement Monday, Oct 18, its managing director Teh Kiak Seng said it was timely for the company to come to market to be listed in view of the increasing demand for properties on mainland Penang.

"We believe that our upcoming listing would enable us to strengthen our position as a major property developer here," said Teh.

To date, Tambun Indah has sold more than 2,800 units of residential property mostly in mainland Penang, with a gross development value of more than RM800 million.

MIMB Investment Bank Bhd is the adviser, managing underwriter, underwriter and placement agent for Tambun Indah's initial public offering exercise.
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