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Tanjong Share Discussion Threads
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|i think it looks good but is it totally illiquid?|
pe of 1 is correct as printed in "Shares Mag" last week.
Can't buy the sales though as only a couple of trades per
year done as nobody wants to sell.
|Have been looking at this company which seems to be interesting. The development of the power section seems to be building up nicely. Has anyone any views as to the possible impact of the announced suspension of the Moscow Lottery?|
Do you still follow this one? Or anyone else for that matter?|
|KUALA LUMPUR (AFX) - Tanjong Plc said its first quarter to April net profit
grew 0.88 pct to 84.09 mln rgt from 83.35 mln a year earlier due to higher
sales at its numbers forecast operator's (NFO) division coupled with a lower
In a note accompanying its results, Tanjong said its turnover for the first
quarter increased by 140 mln rgt or 20 pct to 844 mln compared to 704 mln in the
corresponding quarter last year while group operating profit grew by 7 mln rgt
to 151 mln.
It said its NFO turnover increased by 23 pct to 512 mln rgt from 416 mln in
the first quarter due to improved demand for NFO products and an additional four
draws during the quarter.
"The higher turnover and lower prize payout resulted in an increase in NFO
operating profit to 59 mln rgt in the current quarter from 28 mln" previously,
On its power generation division, Tanjong said the division's turnover
increased to 277 mln rgt from 269 mln in the first quarter due to higher energy
and capacity billings at the Teluk Gong and Panglima power plants.
"Power generation's operating profit is, at 100 mln rgt, however lower by 10
mln due mainly to financial, legal and technical advisory fees totalling 14.5
mln rgt incurred in connection with a major business development initiative," it
Tanjong said its leisure segment recorded a 34 mln rgt increase in turnover
to 50 mln from 16 mln previously due mainly to the commencement of Tropical
Islands operations in December 2004.
"The segment saw an operating loss of 15 mln rgt during the quarter due to
the startup losses incurred by the Tropical Islands resort which is at the
nascent stage of its operations," it added.
The company also said net interest expense and investment charge increased
to 25.3 mln rgt from 23.8 mln mainly due to recognition of 4.2 mln rgt of
unrealised loss on quoted equities arising from the adoption of International
Financial Reporting Standards.
It added that an additional interest expense of 2.4 mln rgt on bank
borrowings taken for the acquisition of a 4 pct interest in the ntl:Broadcast
consortium also contributed to the increase in the net interest expense and
Going forward, Tanjong said it anticipates a satisfactory overall
performance for the remaining period to the end of the financial year.
"There has been increased demand for the group's NFO products and this is
expected to continue contributing positively to the performance of the gaming
segment for the remaining period to the end of the financial year.
"The power generation segment is expected to be affected by scheduled major
maintenance of the existing power plants, whilst the leisure segment will be
affected by the initial operating losses at Tropical Islands," it said.|
|Interesting company will update after research.....
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