28 June, KUALA LUMPUR – TA Enterprise Berhad (TAE) 28th Annual General Meeting was held recently.
For its financial year ended 31 December 2017, the Company successfully achieved revenue of RM1,051.3 million, which reflected a 24.7% increase as compared to RM843.0 million in 2016. It closely mirrors the growth in the profit before tax (PBT), an increase of 21.9% from RM247.9 million to RM302.3 million in 2017.
This improved revenue arose primarily from the overseas hotel operations, stockbroking and financial services, as well as the investment holding divisions, which contributed to 92.3% of the Group’s revenue. The remaining revenue was derived from property investment, property development, and the credit and lending segment.
“Despite the economic uncertainties, it is particularly pleasing to have achieved this level of revenue and the year has seen significant progress which is in line with our strategic business objectives. The company is growing from strength to strength and we are excited to accelerate our growth even further,” the Company commented.
On a segmental basis, the hotel operations in Australia, Singapore, Thailand, Canada and China accounted for more than half of the Group’s revenue. The hotel operations recorded RM667.1 million in revenue in 2017. Other financial highlights include the earnings per share of 12.55 sen and the steady return on shareholder’s equity that stood at 8.65%.
The Company adopts a dividend policy to pay the shareholders consistent yearly dividends ranging between 40% and 60% of the Company’s net realised profit (excluding its property subsidiary TA Global Berhad’s profit after tax but including dividend receivable from TA Global Berhad for the same financial year). A final dividend of 4.1 sen per ordinary share was approved during the meeting, totalling RM70.2 million.