Tanco Holdings Berhad
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
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,
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.
Persiaran Ledang, Off Jalan Duta, 50480 Kuala Lumpur, Malaysia.
Tel: 603 - 2093 6188 Fax: 603 - 2095 8010
Review of performance 31 March 2012
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
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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