28 June, KUALA LUMPUR – TA Global Berhad (TAG) held its 10th Annual General Meeting recently.
For its financial year ended 31 December 2017, the Company’s revenue recorded a boost of 15.3% from RM646.1 million in 2016 to RM745.1 million and successfully achieved a profit before tax (PBT) of RM165.7 million. Hotel operations remained the main driver of the growth, having contributed to 89.5% of the total revenue and 8.4% came from the property investment division.
On a segmental basis, the Company’s hotel operations in Australia, Singapore, Thailand, Canada and China have achieved RM667.1 million in revenue and RM130.3 million in segment profit for FY2017 as compared to RM481.9 million in revenue and RM42.8 million in segment profit from the preceding year.
global economic prospects.
“Despite the forecast of a soft property market, we are confident about making greater strides in the current financial year,” the Company stated. “With the addition of Trump International Hotel Vancouver to our portfolio and upcoming solid projects in the pipeline, we anticipate greater significant earning and yield increase in our property division in the near future.”
The Company adopts a dividend policy to consistently pay the shareholders yearly dividends ranging between 20% and 50% of the Group’s net realised profit for that financial year. A final dividend of 0.6 sen per ordinary share was approved during the meeting, totalling RM31.9 million.