KUALA LUMPUR: One sen a piece Talam Transform Bhd's stock was the second most actively traded on the local stock exchange as at midday, with some 182.8 milion shares changed hands.
The company's share price traded at a high of 1.5 sen a share before closing midday at one sen, giving it a market capitalisation of almost RM43 million.
The property developer which reported a net loss of RM2.26 million for the third quarter ended Dec 31, 2023, compared with a net loss of RM2.06 million a year ago.
Talam Transform recorded total revenue of RM11.96 million, a 29.2 per cent drop compared to RM15.00 million for the same quarter last year.
Notwithstanding this, its gross profit from operations rose 32.5 per cent to RM5.04 million from RM3.81 million for the corresponding quarter last year, mainly due to a RM4.14 million profit from sale of one piece of land.
Talam Transform had submitted new development plans on various parcels of land, some of which had already been approved by the relevant authorities.
However, the company is cautiously reassessing the take-up rate due to the weak property market, tight liquidity of potential buyers and tough bank lending policies especially to the B40 category.
Its first "Build then Sell" project has been completed and the Certificate of Completion and Compliance (CCC) was granted on Dec14, 2021.
Sales progress is slower than expected due to high bank rejection rate of the targeted lower income group in obtaining high margin end-financing.
