Tan Chong International (0693.HK)

[paullow]

i think that tan chong bt timah land worth more cos the lanbd u mentioned is in upp bt timah so its less prime than bt timah.

[money]

Hi guys,

14 Upper Aljunied Road
Singapore 367843
Property held for sale
96,054 sqft

This was shown in the AR 2011, i tried to find out where it is located and what exactly is it, couldnt find it. Tried streetdirectory.com, google map, gothere.sg, giving up...

Does anyone have a clue? thanks in advance

(not vested, may consider if dividend yield was higher)

[ngcheeki]

Hi guys,

14 Upper Aljunied Road
Singapore 367843
Property held for sale
96,054 sqft

This was shown in the AR 2011, i tried to find out where it is located and what exactly is it, couldnt find it. Tried streetdirectory.com, google map, gothere.sg, giving up...

Does anyone have a clue? thanks in advance

(not vested, may consider if dividend yield was higher)

If I'm not wrong, the project developed by Tan Chong International along Upper Aljunied Road is Oasis @ Mulberry. Formerly, this piece of land was used by 2nd car dealers. See the following for more information.

http://www.orangetee.com/Visitor_Lounge/.../Index.asp

[guru]

No-one seem to talk much about this stock after its latest results.
They just announced a 28% increase in dividend, current yield is around 3.7%, higher than FD.

The landbank continues to sit there on the B/S. I don't think the family has a great need to redevelope the land. You probably need a Corp Raider to come in. QLC must have waited a long time hoping to profit but nothing came through. He sold his shares in June '12, leaving the founding family with 75% of the company. It seems like a Wing Tai situation, unless the controlling shareholders want to increase its values, it could could continue to be like that.

Appreciate comments, thanks

[brattzz]

because the car/truck biz is cash generating, family does not need to develop it's landbank at all, in fact, they can even use their lands to build new brands show rooms ..etc, since they already own the lands.

this counter is for long!

[cyclone]

Subaru Set to Boost Outlets in Indonesia to Accelerate Business
By Heru Andriyanto on 9:30 pm July 14, 2013. Source : http://www.thejakartaglobe.com/business/...-business/

TC Subaru, the authorized distributor of Subaru cars in Indonesia, plans to nearly triple the number of its dealerships in the country this year amid positive business sentiment.

“We offer cars in specific segments. All of our cars come with four-wheel drive technology. These kind of cars are in more demand now in Indonesia,” Glenn Tan, president director of TC Subaru, told BeritaSatu last week.

TC Subaru last week inaugurated its new headquarters in Pondok Indah, South Jakarta. From the 3,400-square-meter facility, Subaru TC provides sales, service and spare parts for customers.

Subaru TC in March introduced the Subaru XV, a four-wheel drive car that comes with a 2,000-cc engine. The sport utility vehicle is tagged at around Rp 400 million ($40,000), which covers taxes and registration tariffs.

Tan said that while Subaru does not assemble its cars in Indonesia, the Japanese automaker is able to keep the price low because a free trade pact among Association of Southeast Asian Nations countries eliminated import duties on cars.

The Subaru XV first officially rolled off the production line at a Kuala Lumpur assembly facility last December.

The assembly company, which teamed up with Japan’s Fuji Heavy Industries, the manufacturer of Subaru, is aiming for 65 percent of its output to be exported, aimed at Indonesia and Thailand.

The Malaysian assembling plant is aiming for annual production of 5,000 units for the Subaru XV 2.0i and Subaru XV 2.0i-Premium.

Tan told BeritaSatu that in Indonesia, TC Subaru plans to boost its number of outlets to 20 this year, from seven dealers and showrooms now.

TC Subaru also operates its own vehicle distribution center in Marunda, North Jakarta.

TC Subaru is a subsidiary of Hong Kong-based investment holding company Tan Chong International, whose distribution business spans motor vehicles, light and heavy commercial vehicles and industrial tools.

Tan, whose company has been in the Indonesian market for nine years, aims to sell 2,500 Subaru cars in the country this year.

Car sales in Indonesia rose 4.2 percent 99,568 units in May compared with a year earlier, data from the Association of Indonesia Automotive Industries (Gaikindo) showed. But sales declined from the 102,198 units in April.

In the first five months of this year, car sales rose 14.8 percent year-on-year to 497,670 units.

Toyota, Daihatsu and Mitsubishi were the three leading brands in the market.

---

As of March 31, 2013 Toyota Motor Corporation held 16.48% of Fuji Heavy Industries, the manufacturer of Subaru automobiles.

<vested>

[ngcheeki]

There is a cover story on Tan Chong International Limited (TCIL) in The Edge Singapore. I summarized some of the points from this article as well as making reference on TCIL.


1. TCIL is expanding it's distribution network, improving its internal systems and processes and using creative methods to boost visibility of the brands
within the group's portfolio.
2. TCIL owns 22.3% of japan listed logistics provider Zero Co and 35.6% of indonesia-listed Tifa Finance which resulted in a revaluation gain on a listed
investment.

Since end of June, Zero Co shares price has gone up around 33% from 335 to 500 japan Yen since end of June FY2013. There may be another revaluation gain


http://www.google.com/finance?q=TYO%3A90...ceOkAW54wE

http://www.zero-group.co.jp/en/index.html

Total share : 17,560,242 shares and TCIL hold via Zenith Logistics Pte. Ltd. ( 21.93 % )

Tifa Finance Tbk PT has also gone up from 250 to 280 IDR (35.6%) since end of June.

http://www.bloomberg.com/quote/TIFA:IJ/chart



3. Subaru XV assembly facility rolled out 1st vehicle last year in Kuala Lumpur with a current capacity of 6,000 cars per year. Under the Asean FTA agreement, cars
with at least 40% local content are exempt from certain tariffs. Out of 6000 cars, 1/3 are sold in malaysia, the rest are exported mainly to Indonesia and
Thailand.Revenue in the 3 markets are expected to increase more than 10-fold within the first year of introducing the locally assembled vehicles.
4. Assembling vehicles requires a significant upfront investment, and most of the investment is specific to a particular model.
5. Subaru XV is a "crossover" vehicle. It combines the features of a sport utility vehicle a station wagon. It has received overwhelming response from
Malaysia, Indonesia and Thailand.
6. Motor image's expansion into the assembly business is through a partnership with Japanese owner of subaru brand Fuji Heavy Industries (FHI) and the key
engine for the group's future growth.
7. TCIL hope to increase and strengthen their network next year. TCIL hopes to increase the quality of the network and improve the buying experience
significantly.
8. Motor image has about 100 dealerships in Asia and the company hopes to increase(i.e. 30%) to 130 next year. The company sees plenty of room for subaru
to gain market share in the region. In 5 Countries, Malaysia, Indonesia, Thailand, Taiwan and philippines - 75% of the market is japanese.
9. Risks: 1. Political protest in Thailand 2. Elections in Indonesia 3. Revision of National Automotive policy in Malaysia in Jan 2014.
Positive: 1. Outlook of Philippine is improving after recover from the flood, 2. Singapore changes in COE system in next Year to include not just engine
capacity but also engine power.
10. TCIL intends to grows TCIL's heavy commercial vehicle and industrial equipment distribution business. This unit distribute Nissan forklift trucks in
Singapore and Thailand, and Fuso and Foton trucks in Thailand.
11. TCIL owns an assembly plant in Bangkok, where it assembled Fuso Trucks. The company is working on assembling completely "knocked-down" (i.e. CKD) Foton trucks in
thailand

Fuso Trucks:

http://news.asiaone.com/News/the+Straits...84545.html

http://en.wikipedia.org/wiki/Mitsubishi_...orporation

Foton Trucks

http://en.wikipedia.org/wiki/Foton_Motor

12. Tan Chong wants subaru to have an image of younger and in the image of a brand such as apple. Apple is associated with being cool and having the
latest technology.
13. TCIL is rolling out a new format for Motor Image's car road shows. It involves an all-wheel drive obstacles course in an open space perhaps outside
a shopping mall, where potential customers can test drive their own vehicles over humps and irregular terrain, then compare the experience with the
performance of a subaru.
14. Last year FY2012, subaru sold 14,000 units.
15. Fuji Heavy industries is up 162.5% this year, making it the 2nd best performing car stock. It reflects the success of Subaru brand in major markets
around the world.

vested

[mrEngineer]

I like tan chong but too bad in HKex

[ghchua]

I like tan chong but too bad in HKex

It is listed on SGX under CLOB International. Therefore, you can still buy/sell Tan Chong International on SGX.

[soros]

Does anyone expect a takeover bid for this company or a privatisation by the major shareholder ?

I notice the major shareholder already has over 75% and occasionally buys a few lots from the market.