Hatten Land *Official* (SGX: PH0)

Jupiter2017

Senior Member
Joined
Sep 2, 2017
Messages
1,479
Reaction score
0
http://www.businesstimes.com.sg/com...-two-development-sites-in-malacca-for-rm1086m
Hatten Land acquiring two development sites in Malacca for RM108.6m
Fri, Nov 17, 2017 - 8:06 AM Rachel Mui rachmui@sph.com.sg

DEVELOPER Hatten Land is acquiring two parcels of land in Malacca for RM108.6 million (S$35.32 million) to develop separate integrated projects, the firm said on Thursday night.
This amount will be satisfied in full by the issue of 140.16 million shares at S$0.25 apiece, or a 28.1 per cent premium to Hatten Land's volume weighted average price of S$0.1952 as of Nov 15.
The Catalist-listed developer will acquire a 85 per cent stake in Rico Development Sdn Bhd, which owns the 6.1 acre (2.5 hectares) freehold land parcel, for RM46.75 million, as well as a 75 per cent stake in Rico Ventures Sdn Bhd, which owns the 6.7 acre leasehold land of 99 years expiring in May 2108, for RM61.88 million.
Remaining stakes in both companies are owned by Hatten's deputy managing director Edwin Tan, who is a passive investor in both entities, the firm said.
This deal will also increase Hatten's property portfolio to seven mixed-used developments and one retail mall. The group believes that "demand for mixed developments in the area will be robust, underpinned by new township developments and riding on the momentum of China's Belt and Road Initiative".
It added that the two parcel of lands are "strategically located along the upcoming new towns" in Malacca.
Upon completion of the acquisition, Hatten's net tangible assets per share will rise from 16.50 Malaysian cents to 22.13 Malayisan cents.
Assuming that the proposed acquisitions had been completed on July 1, 2016, earnings per share will be reduced from 0.63 Malaysian cents to 0.58 Malaysian cents.
Executive chairman and managing director of Hatten Land, Colin Tan said: "In a span of nine months since our public listing, we have expanded our development portfolio through value-accretive acquisitions of projects with attractive value propositions to our customers. We will continue to explore other opportunities including options to generate recurring revenue."

Price link: http://www.shareinvestor.com/fundamental/factsheet.html?counter=PH0.SI
 

Jupiter2017

Senior Member
Joined
Sep 2, 2017
Messages
1,479
Reaction score
0
http://www.businesstimes.com.sg/com...minority-interests-in-two-malacca-development
Hatten Land unit acquires remaining minority interests in two Malacca development sites
SUN, DEC 17, 2017 - 7:01 PM STEPHANIE LUO stephluo@sph.com.sg

MALAYSIAN property developer Hatten Land's wholly owned subsidiary is planning to acquire the remaining minority interests in two development sites in Malacca for about RM28.9 million (S$9.6 million).
The Catalist-listed firm said in a late Singapore Exchange filing last Friday that Sky Win Management Consultancy Pte Ltd had entered into two sale and purchase agreements with Tan Ping Huang Edwin, the holder of the minority interests in Rico Development Sdn Bhd (RDSB) and Rico Ventures Sdn Bhd (RVSB), on Dec 15.
The proposed acquisition will see Sky Win acquiring 15 per cent of the issued and paid-up share capital of RDSB for an aggregate consideration of RM8.25 million.
This is based on the allotment and issuance of 10.6 million new ordinary shares of the company at S$0.25 apiece, representing a premium of about 36.6 per cent to the volume weighted average price of S$0.183 for each share as of Dec 14, 2017, being the full market day preceding the date of the agreement.
Sky Win is also seeking to acquire 25 per cent of the issued and paid-up share capital of RVSB for about RM20.6 million.
This will come from the allotment and issuance of about 26.6 million new shares at S$0.25 apiece, a premium of approximately 36.6 per cent to the volume-weighted average price of S$0.183 for each share as at Dec 14.
The exchange rate applicable to the issuance of shares of both proposed deals is S$1:RM3.10.
Hatten will be seeking shareholders' approval for the allotment and issuance of the shares to Mr Tan at an extraordinary general meeting to be convened, and will not utilise the general share issue mandate of the company.
Last month, Hatten announced that it will acquire a 85 per cent stake in RDSB, which owns the 6.1 acre (2.5 ha) freehold land parcel, for RM46.8 million, as well as a 75 per cent stake in RVSB, which owns the 6.7 acre leasehold land of 99 years expiring in May 2108, for RM61.9 million.
Hatten closed 0.3 Singapore cent higher, or 1.7 per cent, to S$0.182 on Friday.

Price link: http://www.shareinvestor.com/fundamental/factsheet.html?counter=PH0.SI
 

Jupiter2017

Senior Member
Joined
Sep 2, 2017
Messages
1,479
Reaction score
0
http://www.businesstimes.com.sg/companies-markets/hatten-lands-q2-profit-down-494-on-higher-expenses
Hatten Land's Q2 profit down 49.4% on higher expenses
Mon, Feb 12, 2018 - 8:15 AM Rachel Mui rachmui@sph.com.sg

MALAYSIAN property developer, Hatten Land Limited's net profit fell 49.4 per cent to RM10.8 million (S$3.63 million) for the second quarter ended Dec 31, 2017, on the back of higher selling and distribution expenses, as well as general and administrative expenses.
This translated to an earnings per share of 0.79 sen for the quarter, down from 1.80 sens last year.
According to Hatten, selling and distribution expenses increased by RM2.2 million, or 29.2 per cent for the quarter as the group intensified sales and marketing efforts for its projects under the "current challenging property market in Malaysia".
In addition, general and administrative expenses also increased by RM4.3 million, or 64.2 per cent for the quarter mainly due to one-off costs in relation to the issuance of shares to employees, additional corporate expenses incurred following a reverse takeover in January 2017, as well as a non-recurring back-charged of third party expenses for the last corresponding financial period.
For the second quarter, revenue dropped to RM43.4 million from RM113.8 million in the year-ago period, due to construction delays at Hatten City Phase 2, partially offset by higher contributions from sales at Harbour City and Hatten City Phase 1.
No dividend has been declared for the second quarter of fiscal 2018, unchanged from the previous year.
In 2018, the group remains on track to launch Harbour City Luxury Hotel, the last phase of its flagship Harbour City project.
Said Hatten's executive chairman and managing director, Colin Tan: "Melacca now ranks as the second most visited state in Malaysia with 16.7 million tourists in 2017. The state's growth is anchored by mega infrastructure and tourism projects which will bolster the value of our properties and underpin future demand.
"The completion of Hatten City Phase 2 which is expected in Q3 FY18 will allow for the immediate conversion of sales into billings. Furthermore, we enter H2 FY18 with unbilled sales of RM907 million, which provides clear earnings visibility."
Looking ahead, the group intends to explore opportunities beyond Malacca, and is looking to grow its business in Klang Valley, an area centred in Kuala Lumpur.
Shares of Hatten last traded down 6.86 per cent to S$0.16 on Friday.

price link: http://www.shareinvestor.com/fundamental/factsheet.html?counter=PH0.SI
 
Important Forum Advisory Note
This forum is moderated by volunteer moderators who will react only to members' feedback on posts. Moderators are not employees or representatives of HWZ. Forum members and moderators are responsible for their own posts.

Please refer to our Community Guidelines and Standards, Terms of Service and Member T&Cs for more information.
Top