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Tanco Holdings Berhad

 

Tanco Holdings Berhad was incorporated in Malaysia on 8 December 1958 as a public limited company known as Jeram Kuantan (Malaya) Ltd. It changed its name to Jeram Kuantan (Malaya) Berhad on 15 April 1966 and assumed its present name on 21 June 1997.

The ordinary shares of the Company were listed on the Main Board of the Kuala Lumpur Stock Exchange (now known as Bursa Malaysia Securities Berhad) on 31 May 1961.

Prior to 1995, the Company was principally engaged in the production and sale of rubber sheets and cultivation of oil palm fruits from its plantation in Kuantan, Pahang.

 

During the financial year ended 31 December 1995, the Company completed the acquisition of the entire issued and paid-up share capital of Palm Springs Development Sdn. Bhd. ("PSDSB"), a property development company which has a landbank of 423 acres near Port Dickson and the disposal of its plantation land. This resulted in a significant diversification of Tanco's core business activities from plantation to property development.

In January 1997, Tanco completed the acquisition of the entire issued and paid-up share capital of Tanco Properties Sdn. Bhd. (the developer of Bandar Country Homes ("BCH") Stage I covering an area of 268 acres in Rawang) and Tanco Development Sdn. Bhd. (the developer of BCH Stage II sited on a 432 acres of freehold land in Rawang). These acquisitions have widened the scope of the Group's property development activities and increased its land bank to over 1,000 acres of prime development land.

In February 1998, Tanco completed the acquisition of the entire issued and paid-up capital of Tanco Resorts Berhad. The acquisition has enabled the Group to move strongly into the vacation ownership business and business related to tourism, leisure and entertainment.

Contact Information

No. 1, Persiaran Ledang, Off Jalan Duta, 50480 Kuala Lumpur, Malaysia.
Tel: 603 - 2093 6188   Fax: 603 - 2095 8010   Email: thb@tancoresorts.com

 

Review of performance 31 March 2012

For the financial period ended 31 March 2012, the Group had recorded a loss before taxation and minority interest of RM7.476 million as compare to the loss of RM2.247 million in the preceding year corresponding period ended 31 March 2011. The variance of additional losses incurred during the financial period as compared to the preceding corresponding period was due to the significantly reduction of revenue in the resorts and club operation, property development and investment holding segments.

Comparatives Results with the Preceding Quarter

For the current quarter ended 31 March 2012, the Group recorded revenue of RM1.106 million and a loss before tax of RM2.294 million compared to RM3.459 million in revenue and a loss before tax of RM0.177 million for the preceding year corresponding quarter ended 31 March 2011. This was mainly attributable to the decrease in consumer’s demand for vacation and higher operating costs in resort management. The segments of investment holding and property development do not have any changes compare to previous quarter.


 

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