KUALA LUMPUR (Nov 1): S P Setia Bhd took the No 1 spot at this year’s The Edge Malaysia Top Property Developers Awards (TPDA). The developer has taken the No 1 spot for the fourteenth time, ever since the awards were established in 2003. S P Setia Bhd also took the top spot in the Best in Qualitative Attributes sub-award.
Here is a brief look at some corporate announcements and news flow on Wednesday (Aug 17), which involve AMMB Holdings Bhd, Malaysia Marine and Heavy Engineering Holdings Bhd, Swift Haulage Bhd, Teladan Setia Group Bhd, Kuala Lumpur Kepong Bhd, Sime Darby Bhd, Tenaga Nasional Bhd, PMB Technology Bhd and Malaysia Pacific Corp Bhd.
KUALA LUMPUR (March 16): Melaka-based property developer Teladan Setia Group Bhd made a commendable debut on the ACE Market of Bursa Malaysia with a 12 sen or 25% premium over its initial public offering (IPO) price of 48 sen.
The counter, which opened at 60 sen, pared some of the gains to close at 57 sen for a first-day gain of nine sen or 18.75%, with a market capitalisation of RM459.02 million.
Teladan Setia, however, could not match the opening-day performance of two other recent ACE Market listings.
HPP Holdings Bhd, which began trading on Jan 20 as the year’s first listing, closed that day at 71 sen for a 97.22% premium over its IPO price of 36 sen.
We continue to focus on Melaka because it has one of the lowest property overhang nationwide. The state’s real estate sector is healthy.” Richard
Melaka has seen positive economic growth, thanks to the state government’s push for economic and social development in areas such as industrial, housing, tourism and trade.
While efforts have been stymied somewhat due to the pandemic, in the longer term, the spillover effect from concerted efforts will create more jobs, increase the population and bolster the purchasing power of the people. Ultimately, this will benefit all economic sectors, including property.
Teladan Setia, a prominent property developer in Melaka that was established in 1997, is determined to be part of the state’s growth by contributing to the housing needs of the local population. Established by the late Datuk Teo Poh Boon, the firm is now managed by his son, managing director Richard Teo Lay Ban.