Financials Tambun Indah Land

Equities

End-of-day quote BURSA MALAYSIA Other stock markets 06:00:00 2024-04-25 pm EDT			5-day change	1st Jan Change
1.06 ^MYR	+0.95%		+3.92%	+24.71%

Apr. 15	Tambun Indah Land Berhad Proposes Payment of Single Tier First and Final Dividend for the Financial Year Ended December 31, 2023	CI
Feb. 28	Tambun Indah Land Berhad Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2023	CI

Fiscal Period: December	2018	2019	2020	2021	2022	2023	2024	2025
Capitalization ¹	327.2	312.1	293.3	316.1	336.1	465.7	465.7	-
Enterprise Value (EV) ¹	278.4	313.9	312.2	282.9	252.4	296.6	312.9	274.2
P/E ratio	5.91 x	6.42 x	11.6 x	5.12 x	5.48 x	9.12 x	9.02 x	8.41 x
Yield	6.49%	5.42%	3.56%	-	7.32%	5.31%	4.72%	5.05%
Capitalization / Revenue	1.82 x	2.1 x	2.22 x	1.24 x	1.48 x	1.83 x	2.09 x	1.94 x
EV / Revenue	1.55 x	2.11 x	2.37 x	1.11 x	1.11 x	1.45 x	1.41 x	1.14 x
EV / EBITDA	-	4.91 x	8.08 x	3.33 x	2.92 x	4.89 x	4.37 x	3.54 x
EV / FCF	2.42 x	-6.19 x	62.7 x	4.41 x	3.23 x	13.9 x	5.88 x	4.58 x
FCF Yield	41.3%	-16.2%	1.59%	22.7%	31%	7.18%	17%	21.8%
Price to Book	-	0.49 x	0.45 x	0.45 x	0.45 x	0.5 x	0.6 x	0.58 x
Nbr of stocks (in thousands)	433,379	433,456	434,492	436,041	439,312	439,312	439,312	-
Reference price ²	0.7550	0.7200	0.6750	0.7250	0.7650	1.060	1.060	1.060
Announcement Date	2/22/19	2/26/20	2/25/21	2/24/22	2/13/23	2/28/24	-	-

¹MYR in Million²MYR

Estimates

Fiscal Period: December	2018	2019	2020	2021	2022	2023	2024	2025
Net sales ¹	179.3	148.6	131.9	255.9	227.5	204.4	222.4	239.6
EBITDA ¹	-	63.88	38.64	84.95	86.43	71.75	71.55	77.4
EBIT ¹	79.65	63.28	38.21	84.54	85.97	70	69.55	75.4
Operating Margin	44.42%	42.6%	28.98%	33.04%	37.79%	32.28%	31.27%	31.47%
Earnings before Tax (EBT) ¹	78.02	60.18	33.94	81.29	82.8	55.78	70.15	75.55
Net income ¹	55.36	48.64	25.28	61.6	61.16	40.96	51.5	56.2
Net margin	30.87%	32.74%	19.17%	24.07%	26.88%	20.04%	23.16%	23.46%
EPS ²	0.1277	0.1122	0.0583	0.1415	0.1396	0.0932	0.1175	0.1260
Free Cash Flow ¹	114.8	-50.74	4.978	64.1	78.2	21.28	53.2	59.8
FCF margin	64.03%	-34.16%	3.77%	25.05%	34.38%	10.41%	23.92%	24.96%
FCF Conversion (EBITDA)	-	-	12.88%	75.46%	90.48%	76.38%	74.35%	77.26%
FCF Conversion (Net income)	207.44%	-	19.69%	104.06%	127.87%	51.96%	103.3%	106.41%
Dividend per Share ²	0.0490	0.0390	0.0240	-	0.0560	0.0563	0.0500	0.0535
Announcement Date	2/22/19	2/26/20	2/25/21	2/24/22	2/13/23	2/28/24	-	-

¹MYR in Million²MYR

Estimates

Fiscal Period: December	2018	2019	2020	2021	2022	2023	2024	2025
Net Debt ¹	-	1.84	18.9	-	-	-	-	-
Net Cash position ¹	48.8	-	-	33.2	83.7	76.8	153	192
Leverage (Debt/EBITDA)	-	0.0288 x	0.4888 x	-	-	-	-	-
Free Cash Flow ¹	115	-50.7	4.98	64.1	78.2	21.3	53.2	59.8
ROE (net income / shareholders' equity)	9.31%	7.8%	3.91%	9.06%	8.44%	5.47%	6.7%	7.05%
ROA (Net income/ Total Assets)	7.46%	6.21%	3.12%	7.51%	7.06%	4.63%	5.6%	5.8%
Assets ¹	742.6	783.1	810.4	819.7	866.4	884.2	919.6	969
Book Value Per Share ²	-	1.480	1.500	1.620	1.690	1.710	1.770	1.830
Cash Flow per Share	-	-	-	-	-	-	-	-
Capex ¹	0.58	0.53	0.88	0.3	0.44	0.76	0.5	0.5
Capex / Sales	0.32%	0.36%	0.67%	0.12%	0.19%	0.37%	0.22%	0.21%
Announcement Date	2/22/19	2/26/20	2/25/21	2/24/22	2/13/23	2/28/24	-	-

¹MYR in Million²MYR

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

Sell

Buy

Mean consensus

HOLD

Number of Analysts

Last Close Price

1.06 MYR

Average target price

0.93 MYR

Spread / Average Target

-12.26%

	1st Jan change	Capi.
TAMBUN INDAH LAND	+24.71%	97.67M
MITSUI FUDOSAN CO., LTD.	+36.16%	27.94B
SUN HUNG KAI PROPERTIES LIMITED	-13.74%	26.97B
DLF LIMITED	+25.00%	26.95B
CHINA RESOURCES LAND LIMITED	-0.71%	25.32B
MITSUBISHI ESTATE CO., LTD.	+44.49%	22.58B
EMAAR PROPERTIES	+2.78%	19.59B
CHINA OVERSEAS LAND & INVESTMENT LTD.	+1.45%	19.52B
SUMITOMO REALTY & DEVELOPMENT CO., LTD.	+28.54%	16.23B
CK ASSET HOLDINGS LIMITED	-14.80%	14.98B