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Wednesday, July 23, 2014

Talam Transform's landbank attracts interest (Edge)

Shares of Talam Transform Bhd was traded actively today, as investors may have noticed the value of its massive landbank in the Klang Valley.

With a market capitalization of only RM527.4 million, the group currently owns undeveloped land bank in Selangor, that fetches a net book value (NBV) of RM962 million.

As at 3pm today, share price of Talam Transform went up 0.5 sen or 4.2%, to 12.5 sen, with 39.123 million shares done, making it the third most active counter of today.

Year-to-date, the share has risen by 6 sen or 92.31%, and it is now trading at its highest level since Jan 11, 2011.

It has a net asset per share of 13 sen, as at end-April this year.

Based on the top 10 properties listed in Talam Transform’s latest annual report, it had 1,861 acres in Ampang, Bukit Jalil, Puchong, Sepang and Rawang. If the group was to develop the lands itself, the estimated gross development value (GDV) should be more than RM5 billion.

Talam Transform’s undeveloped lands in Selangor, spanned about 800 ha (2, 000 acres) — 82.4% higher than its current market cap.

Formerly known as Trinity Corp Bhd, Talam Transform has assets held for sale, amounting to about RM300 million, including Pandan Safari Shopping Complex, its 85% stake in China’s Maxcourt Hotel Ltd, as well as a few parcels of land in Batang Berjuntai and Bukit Beruntung.

As at June 3, 2014, Kumpulan Europlus Bhd (KEuro) is the single largest shareholder, with 29.89% stake in Talam Transform.

Thai tycoon Tan Sri Surin Upatkoon, is an indirect substantial shareholder, as he holds 32.62% of MWE Holdings — the investment vehicle that has acquired a 24.68% stake in KEuro, last year.

Meanwhile, KEuro founder and former president, Tan Sri Chan Ah Chye, who is also Talam Transform’s non-executive director, now holds 1.72% stake in the company.

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