Wednesday, May 14, 2014

Plenitude - acquired land adjacent to KOMTAR in Penang

It is targeting to achieve rm300 million in GDV sales for FY2013.

It had acquired a 1.1 acre land adjacent to Komtar in Penang in 2012. It plans for prime Georgetown land for Rm33 million.

As at June 2012, its land bank size stood at around 1797 acres while total current and future GDV is estimated to be around rm6.3 billion.

Plenitude is in a net cash position. It has no gearing. Its cash stood at rm392 million and nil borrowings as at June 31 2013. Net asset per share stood at rm3.13 as at June 30 2012.

Meanwhile the winning bidder of bidders for the two Penang hotels put up for sale by the EPF – the Gurney Resort Hotel & Residences and the Northam All Suite Penang – are expected to be announced soon as the selection is believed to be at the final stage.

It is learnt that PJD which also owns and operates hotels, is one party that may have reached this staged in the bidding. PJD’s hospitality arm Swiss Garden Intl Sdn Bhd has in fact been managing both the hotels since Aug 2012.

Another party that has made it to the final stage is Johor based Plenitude Bhd. Plenitude is said to have only placed a bid for the Gurney Resort.

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Please note that all data given are merely blogger's opinion. It is strongly recommended that you do your own analysis and research before investing.