Nuffnang

Monday, 16 March 2015

[1643] LANDMRK



公司简单介绍 | Briefing on Landmarks

http://www.landmarks.com.my/

1. GENTING通过PHOENIX SPECTRUM在18-Aug-2006收购了80mil的股数(RM2.00)。
2. 业务跟旅游业有关联。主要经营酒店,度假和健康医疗服务。
3. 公司未来主要贡献都是依靠Langkawi的The Andaman酒店业务和印尼的Treasure Bay(在Pesona Lagoi Bintan)。产业子公司,MSL(20%+1 share)也为公司带来一些贡献。
4. 在2006-07年,公司把大部分资产出售。主要是为了发展印尼Bintan岛的旅游业。(843acres,分多期来发展)
5. 第一期预测会在2015Q2完成。主要焦点是水晶湖(Crystal Lagoon),也配合其他景点的参观,零售,食品和饮料店。
6. 公司多年在印尼那边都是亏钱累累,毕竟发展期间必须一直烧钱又没收入。唯一的收入就的靠The Andaman。长期都是付出比收入多,所以还不能达到一个盈利的平衡点。只要印尼的发展开始带来收入,公司前景就变得明朗化了。
7. 2014Q4的NTA为RM3.68。今天的股价(RM1.25)。公司的价值简直是大平卖!
8. 2014Q3的Property Development Costs(发展资产)多达15亿(RM1.5bil),等于NTA RM3.17。在2014Q4,发展资产变为 7.9亿(RM0.79bil),其余的数目已经进入Property, plant and equipment了(长期资产的一部分)。只要完成Bintan岛的发展,这些数字到时就会变成收入的帐目。
9. 公司从收购,计划和发展,已经用了快要10年时间了,也渐渐要达到收割时期。所以,我们已经省了一个10年的等特。个人认为,可以买入股份来跟公司享有接下来几年的成果。接下来所需要等待的时间,应该不会太久。
10. 如果不想买入来等待,可以在看到公司从印尼那边开始有盈利才介入。到时也许需给高点的价钱买入。

1. GENTING reported that 100%-owned PHOENIX SPECTRUM sb had on Aug 18, 2006 acquired 80mil shares (16.65%) in LANDMARKS for RM160m cash or RM2.00 per share.
2. Focus on the lifestyle sector which are related in resorts, hospitality and wellness services.
3. The company is depending on its Langkawi's The Andaman Hotel business and also its development in Treasure Bay development (in Pesona Lagoi Bintan). Its Property business associate, MSL (20% + 1 share) is also contributing part of the earning for the company.
4. In 2006-07, company has disposed most of the assets to make way for its 338 hectare resort development land in Bintan island, Indonesia, known as Treasure Bay, Pesona Lagoi Bintan.
5. Its first phase is opening in Q2 of 2015. Phase one spans across 90 hectares. The main attraction is the 6.3-hectare Crystal Lagoon, South-East Asia’s first and largest recreational sea-water body. Also host integrated wellness and aesthetic facilities, featuring a 21-hectare wellness resort with services in holistic health management and nutrition facilities.
6. The company is making loss year by year as the main income from The Andaman Hotel business is unable to cover its high development cost in Bintan island. Due to this, it is normal to see profit in red. Once Treasure Bay development start to bring in good profit, we will able to see good accounting figure and a better prospect in future.
7. NTA in 2014Q4 is reported as RM3.68. With today's closing share price at RM1.25, it is consider a big discount offer.
8. The Property Development Cost reported in 2014Q3 is about RM1.5bil or equivalent to RM3.17. In 2014Q4, the property development cost has reduced to about RM0.79bil and the remaining has moved to Property, plant and equipment. In the coming future, this figure will slowly become an income for the company.
9. From the acquisition, planning and development, the company has spent about 10 years and finally getting close to the harvest time. As an investor, we have save a 10 years cycle in waiting. I think it is a great timing for us to buy in now and share the fruitful reward which is going to happen in years to come. I guess we will not wait too long to get share the reward.
10. If you reluctant to wait any longer, I guess you can buy in once you able to see obvious profit contribution from Treasure Bay development. But it will mostly need to pay in higher price.



ESOS

之前,公司有公布Right Issue来筹钱发展。但是过后此计划取消了,由ESOS来代替。以下是股东的ESOS的方式。ESOS的价钱是每股定在RM1.44

Initially, company has proposed to have Right Issue to get new inject capital for future development. Anyhow, it has been cancelled and replaced with ESOS. Below information is the ESOS proposal. ESOS price is fixed at RM1.44 per share.


On 27 August 2014, options were granted to directors and employees of the Group to subscribe for 5,145,000 shares under the Landmarks Employees’ Share Option Scheme. The option gives the older the right to subscribe for ordinary shares of RM1.00 each in the Company for an exercise price of RM1.44 each per share. These options are exercisable until January 2018 and will vest in the following manner.

Period                                                       % of Options
Immediately after acceptance of offer               40
2 January 2015 – 1 January 2016                     20
2 January 2016 – 1 January 2017                     20
2 January 2017 – 1 January 2018                     20



关于子公司的一些资料 | Information about Associate Company: MSL Properties S/B (“MSL”)


IJM Land, MSL Properties to build Wangsa Maju condo

By Haziq Hamid of theedgeproperty.com
Friday, 22 June 2012 15:06

KUALA LUMPUR (June 22): IJM Land Bhd and MSL Properties Sdn Bhd have teamed up to develop a condominium project with a gross development value of RM585 million in Wangsa Maju, Kuala Lumpur.

Seri Riana Residences will be on a 8.1-acre (2ha) leasehold site along Jalan Wangsa Delima 7. The first phase will be officially launched on June 30. It will comprise five blocks (two high-rise and three low-rise) housing 396 units. The high-rise blocks are 38-storeys while the low-rise are six to seven storeys.

Units in the first phase have built-ups between 1,382 sq ft and 3,375 sq ft with prices ranging from RM618,000 to RM1.8 million.

Seri Riana Residences is developed by Elegan Pesona Sdn Bhd, a 50:50 joint venture between IJM Land and MSL Properties.This is the second joint venture project by the two developers. The first was Riana Green East, a residential condominium also in Wangsa Maju.

The second phase, to be launched later, will comprise two blocks with 284 condominium units. The development is expected to be completed in 2016.

According to Datuk Soam Heng Choon, CEO and managing director of IJM Land, the first block is almost taken up. "Our first block of 183 units is 90% taken up by our repeat customers. We expect the first block to be fully sold by the time we officially launch the project," he said at a press preview of the project.

The project is targeted at residents of Wangsa Maju and Gombak as well as general Klang Valley residents.

Tan Ching Meng, general manager of MSL Properties, said Wangsa Maju is an ideal place for raising a family.

"We first came into Wangsa Maju to develop affordable housing but the area has since grown. Accessibility, facilities and amenities here have greatly improved. Wangsa Maju is establishing itself as an ideal place to live," he said.

Facilities at Seri Riana Residences include a 2.8-acre themed landscape park, a meditation area and a hammock area. The development also offers a sports centre, children's play zone, infinity pool and more.

Amenities close to Seri Riana Residences include the Fairview International School, Wangsa Walk Mall, Jusco and the Putra LRT line with stations at Setiawangsa, Sri Rampai and Wangsa Maju.

This story appeared in The Edge Financial Daily on June 22, 2012.




风险 | Risk:

1. 大市崩盘。此股每年只给1sen股息。被套了的股息率比定期储款更低。
2. 印尼货币继续贬值。
3. Treasure Bay的发展不如预测好。游客人潮低,运作支出大过收入。

1. Stock market collapse. This stock only give 1sen dividend per year. If investor is being trapped, the dividend yield is less than fix deposit interest.
2. Indonesia Rupiah currency is continue in depreciation mode.
3. The popularity in Trasure Bay is not up to the expectation. Number of tourist is low and the operating expenses are greater than income.



更多的信息 | Extra Information:

》Facebook: https://www.facebook.com/pages/Treasure-Bay-Bintan/250417141813719


TREASURE BAY BINTAN – A GEM OF POSSIBILITIES


- It tell about the 1st phase in details. Also the major development plan in 2nd and 3rd phase which is expected to be launch in 2017 and 2020 respectively.

Fast Facts and figures about Treasure Bay Bintan

1. 338-hectare total development project
2. 6.3-hectare Crystal Lagoon, South-East Asia’s first and largest recreational sea-water body
3. Multiple award-winning leader in health and fitness destinations – Canyon Ranch will be opening, 1st time in South-East Asia
4. 45 minute ferry ride from Singapore
5. 75 minute car ride from existing Kijang Airport, Bintan, Indonesia
6. 25 minute car ride from new International Airport in Bintan (scheduled to open by end 2016) 
7. 1,700 resort room keys in Phase One

Fast Facts and figures about Crystal Lagoon in Treasure Bay Bintan

1. 6.3 hectares, largest lagoon in South-East Asia with  115,060m3 or 115,060,000 liters
2. 1st in South East Asia
3. Patented and available in 160 countries
4. Eco-friendly technology, uses approximately 100 times less chemical products than conventional swimming pools
5. Energy efficient, consumes only 2% of the energy needed by conventional filtration pools
6. Crystal Lagoon’s innovative technology is sustainable and safe for the environment, allowing limited resources such as energy and water to be used efficiently. The lagoon operates in a closed circuit that only needs to compensate for water loss caused by evaporation


Treasure Bay on the hunt for visitors

Published: 24 September 2012 9:51 AM

The developer, which cites the “Singapore factor” in helping to make Bintan the next big thing in regional tourism, hopes to leverage on the Republic as a private wealth management centre in the region as well as a city of high-net-worth individuals, who may tire of tourism offerings elsewhere in the region.

Last year, 470,470 tourists visited Bintan, an increase from 300,000 in 2010. To meet the expected rise in tourist numbers, construction of the Bintan Resorts International Airport — which will cater to domestic chartered flights, private jets and cargo planes — began in May this year.

- See more at: http://www.themalaysianinsider.com/business/article/treasure-bay-on-the-hunt-for-visitors#sthash.0X2YC54d.kwEgs5Ax.dpuf


INDONESIA PRESS-Landmarks Berhad plans $3.5 bln project in Bintan -Investor Daily

Wed May 7, 2014 8:55pm EDT

Malaysian property developer Landmarks Berhad plans to spend up to $3.5 billion on its Bintan Treasury Bay project in Indonesia's Kepulauan Islands province over the next 10-12 years, with an initial investment of $650 million, said CEO Paul Leong.

Landmarks will begin development of a resort hotel, amusement park, mangrove eco park and wellness resort on a 90-hectare site in the fourth quarter of this year, and expects to complete the project in 2017. (Investor Daily)

Note: Reuters has not verified this story and does not vouch for its accuracy. (Compiled by Jakarta Newsroom; Editing by Subhranshu Sahu)