The return of Talam

//The return of Talam

The return of Talam

Talam is a brand name very difficult to forget about and merely to keep in mind.

Years ago, Talam is a “Tai Gor” in property sector along with numerous projects throughout Klang Valley as well as Selangor.

Talam has a landbank of some 2000 acres positioned largely in Cyberjaya, Selayang, Ulu Klang and Bukit Beruntung.

While in the 1990s, Talam appeared to be the dominating property developer in Selangor because the corporation bagged various privatisation from the state.

Some attributed this to Tan Sri Chan Ah Chye’s close links with the state government at that time.

When I was only a new comer in the bank, I used to be send to be present at Talam project launching at several locations. The competition among the banks tend to be greater than ever, on weekend almost 6-8 bankers are station inside their main Sales office, Pandan Indah.

We have to be competitive for business so when business are good, Talam have almost 20-30 sales per day. At that point, acquiring Talam property appear to be appropriate. With a affordable price and larger houses, they’re definitely a charm in the market.

Sometimes everything good had to end, and this is happening to Talam Corporation couple of years back.

Like most other developers, Talam’s financial debt stacked up and ultimately ended up being caught flat-footed in the Asian financial crisis in 1998.

Over-geared and struggling to service its loan, Talam was forced to cease several of its half-completed projects. Even though it restructured its debts, Talam could not recover from the turmoil.

When it was stuck with a large number of uncompleted properties, IJM Corp stepped in by taking up a share in KEuro in 2005.

Ever since then, IJM continues to be driving KEuro, making the running of Talam to Tan Sri Chan Ah Chye and existing administration.

After three continuous years of generating losses, Talam made a comeback to the black in its latest financial year ended Jan 31, 2014.

It’s published a full-year net profit of RM9.58mil on revenue of RM171.70 mil, primarily because of RM100.67 disposal gain of investment properties.

It had completed all unfinished properties and definitely will carry on and team up with reliable companies to build up its land bank.

Having said that, it anticipate a challenging year ahead because of a more challenging lending guidelines by bank Negara in addition to increasing construction costs.

At its AGM in July 2013, Talam stated that it was entering build-then-sell projects on a smaller scale, to prove that it is capable to deliver.

It is calling tenders for its build-then-sell affordable housing project in Puchong, which is likely to begin in the second half of 2014.

 

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By | 2016-11-01T10:46:04+00:00 April 21st, 2014|Latest News and Update|0 Comments

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