Sentoria Group Bhd, a property developer and builder, slid 5.8 per cent to 82 sen as of 9:50 a.m. in Kuala Lumpur in its stock-exchange debut. -- Bloomberg
Showing posts with label Sentoria Group Bhd. Show all posts
Showing posts with label Sentoria Group Bhd. Show all posts
Thursday, 23 February 2012
Wednesday, 22 February 2012
Sentoria first to list on Bursa Malaysia in 2012
KUALA LUMPUR (Feb 22): Property developer Sentoria Group Bhd's listing on Bursa Malaysia's Main Market on Thursday, will be the first initial public offering (IPO) for 2012 and is estimated to have raised some RM51.6 million in proceeds.
Its offer of 20 million new shares at an 85 sen each to the public was oversubscribed by 5.4 times.
The listing exercise entailed a public issue of 60 million new ordinary shares and an offer-for-sale of 40 million promoters’ shares.
RHB Research Institute had accorded a fair value of 92 sen based on a 30% discount to its sum-of-parts valuation.
Sentoria is involved in property development and the leisure and hospitality business in Pahang. It developed a 547-acre integrated resort city, the Bukit Gambang Resort City (BGRC), in Gambang, Pahang.
The BGRC has a water park, active academy (for outdoor activities), provides facilities for meetings, incentives, conventions and exhibitions (MICE) and has accommodation for more than 2,000 people.
Sentoria planned to use more than half of the proceeds for its working capital, while the rest will be utilised to pare down its borrowings and to procure property, plant and equipment.
"Looking ahead, Sentoria plans to enhance its recurring income stream from BGRC, by adding new attractions such as Safari Park, Aquarium Park, Adventure Land, and expand the MICE division by constructing s grand ballroom with 3,050 pax capacity to increase the average revenue and length of stay per visitor," it said in the report.
The group's product mix will also be diversified with the CONSTRUCTION [] of themed villa's and commercial PROPERTIES [] to add development value to the acquired land, it added.
It expected Sentoria's net profit to grow by 10.2% in FY12 and 12.2% in FY13, as more facilities and attractions are fully operational by the end of the year.
Its offer of 20 million new shares at an 85 sen each to the public was oversubscribed by 5.4 times.
The listing exercise entailed a public issue of 60 million new ordinary shares and an offer-for-sale of 40 million promoters’ shares.
RHB Research Institute had accorded a fair value of 92 sen based on a 30% discount to its sum-of-parts valuation.
Sentoria is involved in property development and the leisure and hospitality business in Pahang. It developed a 547-acre integrated resort city, the Bukit Gambang Resort City (BGRC), in Gambang, Pahang.
The BGRC has a water park, active academy (for outdoor activities), provides facilities for meetings, incentives, conventions and exhibitions (MICE) and has accommodation for more than 2,000 people.
Sentoria planned to use more than half of the proceeds for its working capital, while the rest will be utilised to pare down its borrowings and to procure property, plant and equipment.
"Looking ahead, Sentoria plans to enhance its recurring income stream from BGRC, by adding new attractions such as Safari Park, Aquarium Park, Adventure Land, and expand the MICE division by constructing s grand ballroom with 3,050 pax capacity to increase the average revenue and length of stay per visitor," it said in the report.
The group's product mix will also be diversified with the CONSTRUCTION [] of themed villa's and commercial PROPERTIES [] to add development value to the acquired land, it added.
It expected Sentoria's net profit to grow by 10.2% in FY12 and 12.2% in FY13, as more facilities and attractions are fully operational by the end of the year.
Tuesday, 14 February 2012
Sentoria's public offer of 20m new shares oversubscribed 5.4 times
KUALA LUMPUR (Feb 14): Sentoria Group Bhd’s offer of 20 million new shares to the public at an 85 sen each under its listing exercise was oversubscribed by 5.4 times.
The company, which is seeking a listing on the Main Market of Bursa Malaysia Securities Bhd, received 6,829 applications for 127.2 million shares with a total value of RM108.1 million.
Sentoria’s listing exercise entailed a public issue of 60 million new ordinary shares and an offer-for-sale of 40 million promoters’ shares.
Of the 60 million new shares under public issue, 20 million were allocated for public balloting and 10 million shares for eligible directors, employees and business associates of the group at 85 sen per share. The other 30 million shares were allocated for private placement at 87 sen per share.
The 40 million promoters’ shares, allocated for Bumiputera investors approved by the Ministry of International Trade and Industry, were priced at 87 sen each.
Sentoria’s listing exercise raised RM51.6 million for the group, of which RM27.7 million would be for working capital; RM11.2 million for repayment of bank borrowings; RM9.0 million for purchase of property, plant and equipment; and the balance RM3.7 million to defray listing expenses.
Sentoria, which is scheduled to list on the Main Market of Bursa Malaysia on Feb 23, is the developer and operator of Bukit Gambang Resort City in Kuantan.
The integrated resort city covering 547 acres offer attractions including the Bukit Gambang Water Park and Active Academy, as well as facilities for meetings, incentives, conventions and exhibitions and 998 accommodation rooms for families and corporate groups.
For the 10-month period ended July 31, 2011, group revenue rose 53.4% to RM143.7 million from RM93.7 million in the previous corresponding period. Group net profit rose by 222.0% to RM38.1 million from RM11.9 million.
The company, which is seeking a listing on the Main Market of Bursa Malaysia Securities Bhd, received 6,829 applications for 127.2 million shares with a total value of RM108.1 million.
Sentoria’s listing exercise entailed a public issue of 60 million new ordinary shares and an offer-for-sale of 40 million promoters’ shares.
Of the 60 million new shares under public issue, 20 million were allocated for public balloting and 10 million shares for eligible directors, employees and business associates of the group at 85 sen per share. The other 30 million shares were allocated for private placement at 87 sen per share.
The 40 million promoters’ shares, allocated for Bumiputera investors approved by the Ministry of International Trade and Industry, were priced at 87 sen each.
Sentoria’s listing exercise raised RM51.6 million for the group, of which RM27.7 million would be for working capital; RM11.2 million for repayment of bank borrowings; RM9.0 million for purchase of property, plant and equipment; and the balance RM3.7 million to defray listing expenses.
Sentoria, which is scheduled to list on the Main Market of Bursa Malaysia on Feb 23, is the developer and operator of Bukit Gambang Resort City in Kuantan.
The integrated resort city covering 547 acres offer attractions including the Bukit Gambang Water Park and Active Academy, as well as facilities for meetings, incentives, conventions and exhibitions and 998 accommodation rooms for families and corporate groups.
For the 10-month period ended July 31, 2011, group revenue rose 53.4% to RM143.7 million from RM93.7 million in the previous corresponding period. Group net profit rose by 222.0% to RM38.1 million from RM11.9 million.
Sentoria IPO oversubscribed by 5.4 times
Sentoria Group Bhd's public tranche under its Initial Public Offering (IPO) on the Main Market of Bursa Malaysia Securities Bhd has been oversubscribed by 5.4 times.
The company said it had received a total of 6,829 applications for 127.2 million shares with a total value of RM108.1 million, for the public tranche of 20.0 million shares under the Group's IPO.
"The oversubscription for our IPO indicates the investing community's confidence in our business strength and abilities to grow further in the theme park and resorts sector.
"We believe that the upcoming listing on the Main Market would enhance our balance sheet, which will give us ample opportunities to expand operations, including enriching the visitor experience at Bukit Gambang Resort City (BGRC).
"We are optimistic that our future projects will elevate the Group to greater heights," Head of Public and Investor Relations of Sentoria Group, Nasiruddin Nasrun said in a statement, today.
Sentoria, scheduled to be listed on Feb 23, will be the first IPO of 2012.
The company is also the developer of BGRC located in Kuantan, Pahang. It is, the first and largest water park resort city in the east coast of Malaysia. -- Bernama
The company said it had received a total of 6,829 applications for 127.2 million shares with a total value of RM108.1 million, for the public tranche of 20.0 million shares under the Group's IPO.
"The oversubscription for our IPO indicates the investing community's confidence in our business strength and abilities to grow further in the theme park and resorts sector.
"We believe that the upcoming listing on the Main Market would enhance our balance sheet, which will give us ample opportunities to expand operations, including enriching the visitor experience at Bukit Gambang Resort City (BGRC).
"We are optimistic that our future projects will elevate the Group to greater heights," Head of Public and Investor Relations of Sentoria Group, Nasiruddin Nasrun said in a statement, today.
Sentoria, scheduled to be listed on Feb 23, will be the first IPO of 2012.
The company is also the developer of BGRC located in Kuantan, Pahang. It is, the first and largest water park resort city in the east coast of Malaysia. -- Bernama
Friday, 10 February 2012
Sentoria sees good return from Bukit Gambang projects
PUTRAJAYA: Soon to be listed property developer Sentoria Group Bhd expects at least 30% return on its RM92 million investment in the Arabian Bay Resort, which forms part of its Bukit Gambang Resort City’s (BGRC) second phase development near Kuantan, according to the group’s joint managing director Datuk Gan Kim Leong.
The development of the second phase of BGRC, costing a total of RM140 million, will be facilitated by a RM6.9 million grant given by the government through its Public-Private Partnership Unit (PPPU) of which the agreement was signed by both parties yesterday. Other than the Arabian Bay Resort, the second phase development plan will include the Bukit Gambang Safari Park, which costs about RM48 million, according to Gan.
“On the investment return, there are two ways to look at it. One is for the Arabian Bay Resort where we expect to get a return of around 30%, based on the development cost. The other one is based on the entrance fee to the Safari Park, of which we project to receive about RM18 million a year in terms of revenue,” said Sentoria’s finance controller Thean Yain Peng.
The Arabian Bay Resort consists of studio and family suites built on the site of the BGRC. Sentoria will sell the units to interested investors and lease it back from them, and later rent it out to the visiting customers who stay at the resort city.
On the RM6.9 million grant from the government, it will be channelled through Bank Pembangunan Malaysia Bhd, and will be utilised for access roads and utility-based infrastructure works. The grant is part of the facilitating fund provided by the government under the 10th Malaysia Plan, which is aimed to encourage private investments in the country.
BGRC, which sits on a 547-acre (221.4ha) site, was first developed in 2007, and since then 20% of its total development plan has been completed, according to Gan. Other than BGRC, Sentoria is also developing a budget hotel in Kuantan, as well as residential developments in Bandar Indera Mahkota, Kuantan, in Pajam, Negri Sembilan as well as Salak Tinggi in Selangor.
“BGRC is our flagship development. Once it is fully completed in 2018, it will be one of the largest resort cities in Malaysia.” said Gan. He said almost 90% of the Arabian Bay Resort’s units has been sold, while the Caribbean Bay Resort, which was developed earlier, has been fully sold.
Sentoria recently launched the prospectus for its planned IPO on the Main Market. It is expected to raise RM51.6 million from the IPO, of which RM27.7 million would be allocated for working capital, RM11.2 million for repayment of bank borrowings, RM9 million for purchase of property, plant and equipment and the balance RM3.7 million to defray listing expenses.
This article appeared in The Edge Financial Daily, February 10, 2012.
The development of the second phase of BGRC, costing a total of RM140 million, will be facilitated by a RM6.9 million grant given by the government through its Public-Private Partnership Unit (PPPU) of which the agreement was signed by both parties yesterday. Other than the Arabian Bay Resort, the second phase development plan will include the Bukit Gambang Safari Park, which costs about RM48 million, according to Gan.
“On the investment return, there are two ways to look at it. One is for the Arabian Bay Resort where we expect to get a return of around 30%, based on the development cost. The other one is based on the entrance fee to the Safari Park, of which we project to receive about RM18 million a year in terms of revenue,” said Sentoria’s finance controller Thean Yain Peng.
The Arabian Bay Resort consists of studio and family suites built on the site of the BGRC. Sentoria will sell the units to interested investors and lease it back from them, and later rent it out to the visiting customers who stay at the resort city.
(From left) Bank Pembangunan CEO Jamaluddin Nor Mohamad, PPPU director-general Datuk Seri Dr Ali Hamsa, and Sentoria joint managing directors Datuk Jimmy Chan and Gan at the signing ceremony in Putrajaya.
On the RM6.9 million grant from the government, it will be channelled through Bank Pembangunan Malaysia Bhd, and will be utilised for access roads and utility-based infrastructure works. The grant is part of the facilitating fund provided by the government under the 10th Malaysia Plan, which is aimed to encourage private investments in the country.
BGRC, which sits on a 547-acre (221.4ha) site, was first developed in 2007, and since then 20% of its total development plan has been completed, according to Gan. Other than BGRC, Sentoria is also developing a budget hotel in Kuantan, as well as residential developments in Bandar Indera Mahkota, Kuantan, in Pajam, Negri Sembilan as well as Salak Tinggi in Selangor.
“BGRC is our flagship development. Once it is fully completed in 2018, it will be one of the largest resort cities in Malaysia.” said Gan. He said almost 90% of the Arabian Bay Resort’s units has been sold, while the Caribbean Bay Resort, which was developed earlier, has been fully sold.
Sentoria recently launched the prospectus for its planned IPO on the Main Market. It is expected to raise RM51.6 million from the IPO, of which RM27.7 million would be allocated for working capital, RM11.2 million for repayment of bank borrowings, RM9 million for purchase of property, plant and equipment and the balance RM3.7 million to defray listing expenses.
This article appeared in The Edge Financial Daily, February 10, 2012.
Thursday, 22 December 2011
Sentoria gets SC nod for listing
Sentoria Group Bhd has received the approval from Securities Commission Malaysia (SC) for its listing on the Main Market of Bursa Malaysia Securities Bhd.
In a statement today, Sentoria said it expected the listing in the first quarter of 2012.
Sentoria, established since 1998, has built its expertise in the leisure and hospitality as well as the property development sectors, it said.
"The company has also carved a niche in developing affordable housing primarily in Kuantan, Pahang, with a proven track record of delivering properties ahead of time and adding development value to acquired land," it said.
Its head public and investor relations, Nasiruddin Nasrun, said the company has a unique business model through its synergistic business segments, in which it has a rising star in the leisure and hospitality sector, underlined by the cash cow business of property development.
"The listing milestone is a culmination of the group's past 10 years of enterprise building, and delivering properties and hospitality services that enrich the lives of our end-customers," he said. -- Bernama
In a statement today, Sentoria said it expected the listing in the first quarter of 2012.
Sentoria, established since 1998, has built its expertise in the leisure and hospitality as well as the property development sectors, it said.
"The company has also carved a niche in developing affordable housing primarily in Kuantan, Pahang, with a proven track record of delivering properties ahead of time and adding development value to acquired land," it said.
Its head public and investor relations, Nasiruddin Nasrun, said the company has a unique business model through its synergistic business segments, in which it has a rising star in the leisure and hospitality sector, underlined by the cash cow business of property development.
"The listing milestone is a culmination of the group's past 10 years of enterprise building, and delivering properties and hospitality services that enrich the lives of our end-customers," he said. -- Bernama
Sentoria Group gets SC nod to list on Main Market
KUALA LUMPUR (Dec 22): Sentoria Group Bhd, the developer and operator of the Bukit Gambang Resort City (BGRC) in Kuantan, Pahang, has received the approval from the Securities Commission to list on the Main Market of Bursa Malaysia Securities Bhd.
In a statement Thursday, Sentoria said it was aiming to be listed in the first quarter of 2012.
Its head of public and investor relations Nasiruddin Nasrun said the company had a unique business model through its synergistic business segments.
“The listing milestone is a culmination of the group’s past 10 years of enterprise building, and delivering PROPERTIES [] and hospitality services that enrich the lives of our end-customers.
“We believe that our upcoming listing exercise would not only raise our profile nationwide, but also raise the funds necessary to bring the group to the next lap of growth,” said Nasiruddin.
Sentoria was established in 1998 and has built its expertise in the leisure and hospitality as well as the property development sectors.
BGRC is o0ne of the largest integrated resort cities in Malaysia with 547-acre land area and features multiple attractions including the Bukit Gambang Water Park and Active Academy, as well as MICE[1] facilities and 998-room accommodation for families and corporate groups.
Sentoria also develops affordable housing primarily in Kuantan. Among its completed projects are Bay Resort and Desa Hijauan within BGRC, and Taman Indera Sempurna 1 and 2.
In a statement Thursday, Sentoria said it was aiming to be listed in the first quarter of 2012.
Its head of public and investor relations Nasiruddin Nasrun said the company had a unique business model through its synergistic business segments.
“The listing milestone is a culmination of the group’s past 10 years of enterprise building, and delivering PROPERTIES [] and hospitality services that enrich the lives of our end-customers.
“We believe that our upcoming listing exercise would not only raise our profile nationwide, but also raise the funds necessary to bring the group to the next lap of growth,” said Nasiruddin.
Sentoria was established in 1998 and has built its expertise in the leisure and hospitality as well as the property development sectors.
BGRC is o0ne of the largest integrated resort cities in Malaysia with 547-acre land area and features multiple attractions including the Bukit Gambang Water Park and Active Academy, as well as MICE[1] facilities and 998-room accommodation for families and corporate groups.
Sentoria also develops affordable housing primarily in Kuantan. Among its completed projects are Bay Resort and Desa Hijauan within BGRC, and Taman Indera Sempurna 1 and 2.
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