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Friday, June 20, 2014

TA Enterprise hints 1QFY15 results will 'pleasantly surprise'

TA Enterprise hinted that its results for  the first quarter ended April 31, 2014 (1QFY15) will "pleasantly surprise".

"You will be pleasantly surprised by our first quarter results, coming out in three days' time" said Kimmy Khoo Poh Kim, executive director of TA Global Bhd.

The group has various plans laid out for its securities and investment subsidiaries this year, while new projects under its property development business will only be launched 2015 onwards.

Kaladher Govindan, head of research for TA Securities Holdings Bhd, said that the group aims to set up more branches, expanding its foreign desk, increasing its fee-based income, and increasing its pool of proprietary day traders.

The group will be opening its ninth stockbroking branch by end-2014.

"The new branch will be located outside the Klang Valley, only that much I can reveal to you," said Alice Tan Kuay Fong, managing director and CEO of TA Enterprise.

Meanwhile, for its investment business, the group aims to offer more services online, educate the public on futures, engage corporates on hedging, and also to recruit more local traders.

For its property business, the group said there would be no new launches this year, and would only resume in 2015 and 2016.

"We will only start to launch projects by the second quarter of 2015, after the GST implementation.

"We will have more launches in 2016," said Tan.

She added that the contribution from property and hospitality segments would outstrip the stockbroking business, going forward.

"More than 60% of our contribution comes from the hotel business, which are located overseas," Tan said.

The group mentioned that its Trump Tower project in Canada and its Little Bay Cove project in Sydney would start contributing by 2016.

When asked whether the group would be selling off its stockbroking arm, Tan said: "Everything has a price, so maybe if the offer is attractive, we will consider".

For the KLCI, TA Enterprise maintains a positive outlook on the market, with a year-end target of 1,925 points.

"I believe there will be an up-run this year, but we may probably see a cool down in the earlier part of next year.

"For this year, we are positive on the market," said Govindan.

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