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Monday, June 29, 2015

PJDev: Email Enquiry to IR (29/6)

Just received the reply from PJDev's IR team regarding my enquiries to them earlier. 

First of all, thanks for the great effort for making PJDev group a great company.

I am one of the retail investors who are investing in PJDev group and I have some enquiries related to the group and would like to seek clarification from your side as below,

1) How much is the property development unbill sales at the last quarter as the group didn't mention in the latest quarter report?

Answer: In the ranges of 600Million as at March 2015

2) The hotel segment recorded operating losses in the last quarter. What is the reason behind? Is it one time off or the group facing challenge moving forward?

Answer: Mainly due to slow down of  tourism  industry. We foresee that the Hotel Industry will continue be quite soft for the 2nd half of this year.

3) Based on the annual report, D'Majestic and Swiss-Inn are expected to open in 2Q2015. May I know what is the progress?
Answer: Both will be opened in July of August 2015.

4) The group's tax rate in the latest quarter was slightly higher due to losses in certain subsidiaries that are not available to set off against taxable profit as mentioned in the report. Is the higher tax rate one time off or will it continue moving forward?
Answer: Yes, you are right. It will still has some impact for remaining of the year.

5) There was big jump in Property development costs and Land held for Development in the latest quarter. Was it due to land acquisition by Yarra Park City?

Answer: Yes this is due to Yarra Land , and Reclassification a piece of land that under Land held for development to Property Development.

6) What is the project plan for Yarra Park City since the group had subscribed additional shares in the said group for almost RM215 million this year?

Answer: This will be a mixed development project that consists of residential, and Mall, and hotel.

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