Sentoria - the developer and operator of the Bukit Gambang Resort City (BGRC) in Kuantan, Pahang - is slated to be listed on the Main Market of Bursa Malaysia on Feb 23.
The indicative price is believed to be 85 sen a share with the IPO expected to involve a public issue and an offer for sale of a total of 100 million shares, or 25% of its enlarged paid-up share capital.
Its IPO will raise RM51.6 million for the group, of which:
- RM27.7 million would be for working capital;
- RM11.2 million for repayment of bank borrowings;
- RM9 million for purchase of property, plant and equipment; and
- RM3.7 million to defray listing expenses.
The exercise entails a public issue of 60 million new shares and an offer-for-sale of 40 million promoters’ shares.
Of the 60 million new shares:
- 20 million are for public balloting;
- 10 million for directors, employees and business associates at 85 sen per share;
- 30 million shares are for private placement at placement price of 87 sen per share.
It is expected to raise as much as RM50 million for new facilities at its 218ha BGRC development — the country's third largest theme park by number of guests, after Genting Highlands and Sunway Lagoon — and to repay borrowings.
Sentoria will spend RM48 million to build a second theme park called Bukit Gambang Safari Park within the 218.8ha BGRC this year, which aims to complete and commence operations of the safari park by year-end.
The 35.28ha safari park will feature animals in their natural surroundings. The many components in the safari park will open in stages.
The first two, Night Jungle and Foreign Village will be opened in September. Other components in the safari park include Malaysia Rainforest,Wild Savannah and Elephant Lodge.
Those who visit the water park may stay longer to visit the safari park. The safari park would also attract new visitors (toBGRC).
The development of BGRC began in 2007 and its first theme park, the Bukit Gambang Water Park has attracted over a million visitors since opening in July 2009.
Worth noting is that the group has also developed townships and affordable housing in Kuantan. Its joint managing director, Datuk Gan Kim Leong, said 70%of the group’s revenue last year came from property development,with the rest from its leisure and hospitality business. The group aims to achieve a 50:50 ratiowith the full completion of BGRC.
An update on 15th February, 2012:
Sentoria, scheduled to list on the Main Market of Bursa Malaysia on Feb 23, will be the first IPO of 2012. For the 10 months ended July 31, 2011, its group revenue increased 53.4% to RM143.7 million from RM93.7 million previously, and net profit rose 222% to RM38.1 million from RM11.9 million previously.
Another update on 24th February, 2012:
Sentoria embrarks on RM735m project
Sentoria Group Bhd has embarked on a RM735 million five-star resort development in the integrated resort city.
Dubbed “Global Heritage”, the development will comprise 1,070 units of themed resort villas and a 273-suite boutique hotel on 114 acres of land. The resort villas will feature distinctive architectural designs based on international themes such as Amsterdam, San Francisco, Venice and Barcelona.
Targeted for completion by 2018, Sentoria chairman AznamMansor said Global Heritage is the first high-end project in BGRC,which adopts a buy and lease-back concept. "We aim to not only increase our accommodation capacity in BGRC, but also attract high-end visitors to our theme park attractions and conference and exhibition facilities."
Three more major attractions have been planned for BGRC, namely the Safari Park, Aquarium Park and Adventure Park. "We see the potential of BGRC as we have only developed theWater Park out of the four attractions. With this, we expect our hospitality business to contribute 50% of our revenue from 30% currently upon full completion of BGRC in 2018,"
Sources:
Sentoria, PNB in talks to develop IR city in Morib
http://www.thesundaily.my/news/280952
Sentoria keen to replicate IR project
http://thesun-epaper.com/wed/01022012/files/assets/seo/page14.html
Note: The replica process is similar to the Premium Outlets model in fashion retail and real estate business, where they replicate a success model to global presence - http://www.premiumoutlets.com.my/worldwide
Sentoria’s IPO oversubscribed 5.4 times
http://www.thesundaily.my/news/294998
Bukit Gambang Resort City
http://www.bgrc.com.my/home.php
The indicative price is believed to be 85 sen a share with the IPO expected to involve a public issue and an offer for sale of a total of 100 million shares, or 25% of its enlarged paid-up share capital.
Its IPO will raise RM51.6 million for the group, of which:
- RM27.7 million would be for working capital;
- RM11.2 million for repayment of bank borrowings;
- RM9 million for purchase of property, plant and equipment; and
- RM3.7 million to defray listing expenses.
The exercise entails a public issue of 60 million new shares and an offer-for-sale of 40 million promoters’ shares.
Of the 60 million new shares:
- 20 million are for public balloting;
- 10 million for directors, employees and business associates at 85 sen per share;
- 30 million shares are for private placement at placement price of 87 sen per share.
It is expected to raise as much as RM50 million for new facilities at its 218ha BGRC development — the country's third largest theme park by number of guests, after Genting Highlands and Sunway Lagoon — and to repay borrowings.
Sentoria will spend RM48 million to build a second theme park called Bukit Gambang Safari Park within the 218.8ha BGRC this year, which aims to complete and commence operations of the safari park by year-end.
The 35.28ha safari park will feature animals in their natural surroundings. The many components in the safari park will open in stages.
The first two, Night Jungle and Foreign Village will be opened in September. Other components in the safari park include Malaysia Rainforest,Wild Savannah and Elephant Lodge.
Those who visit the water park may stay longer to visit the safari park. The safari park would also attract new visitors (toBGRC).
The development of BGRC began in 2007 and its first theme park, the Bukit Gambang Water Park has attracted over a million visitors since opening in July 2009.
Worth noting is that the group has also developed townships and affordable housing in Kuantan. Its joint managing director, Datuk Gan Kim Leong, said 70%of the group’s revenue last year came from property development,with the rest from its leisure and hospitality business. The group aims to achieve a 50:50 ratiowith the full completion of BGRC.
An update on 15th February, 2012:
Sentoria, scheduled to list on the Main Market of Bursa Malaysia on Feb 23, will be the first IPO of 2012. For the 10 months ended July 31, 2011, its group revenue increased 53.4% to RM143.7 million from RM93.7 million previously, and net profit rose 222% to RM38.1 million from RM11.9 million previously.
Another update on 24th February, 2012:
Sentoria embrarks on RM735m project
Sentoria Group Bhd has embarked on a RM735 million five-star resort development in the integrated resort city.
Dubbed “Global Heritage”, the development will comprise 1,070 units of themed resort villas and a 273-suite boutique hotel on 114 acres of land. The resort villas will feature distinctive architectural designs based on international themes such as Amsterdam, San Francisco, Venice and Barcelona.
Targeted for completion by 2018, Sentoria chairman AznamMansor said Global Heritage is the first high-end project in BGRC,which adopts a buy and lease-back concept. "We aim to not only increase our accommodation capacity in BGRC, but also attract high-end visitors to our theme park attractions and conference and exhibition facilities."
Three more major attractions have been planned for BGRC, namely the Safari Park, Aquarium Park and Adventure Park. "We see the potential of BGRC as we have only developed theWater Park out of the four attractions. With this, we expect our hospitality business to contribute 50% of our revenue from 30% currently upon full completion of BGRC in 2018,"
Sources:
Sentoria, PNB in talks to develop IR city in Morib
http://www.thesundaily.my/news/280952
Sentoria keen to replicate IR project
http://thesun-epaper.com/wed/01022012/files/assets/seo/page14.html
Note: The replica process is similar to the Premium Outlets model in fashion retail and real estate business, where they replicate a success model to global presence - http://www.premiumoutlets.com.my/worldwide
Sentoria’s IPO oversubscribed 5.4 times
http://www.thesundaily.my/news/294998
Bukit Gambang Resort City
http://www.bgrc.com.my/home.php
