KUALA LUMPUR: Tiong Nam Logistics Holdings Bhd
has declared a share dividend to reward its shareholders, on the basis of one treasury share for every forty existing ordinary shares held.
The integrated logistics and warehousing solutions said the share dividend would involve the distribution of up to 12.9 million treasury shares to all shareholders of Tiong Nam.
The ex-date for the dividend is Nov 26, and the shares will be credited on Dec 18.
Managing director Ong Yoong Nyock said the share dividend distribution enables the company to reward its loyal shareholders and offer them greater participation in Tiong Nam’s future growth.
“We are enhancing our logistics and warehousing infrastructure across Malaysia and Singapore to meet the rising demand for integrated logistics solutions. As we aim for significant revenue growth for this segment in FY2025, our ongoing expansions will boost our capacity to better serve our customers and capture new opportunities.
“We are also further developing our landbank through our property development segment. These initiatives will contribute to long-term value to our shareholders,” he said in a statement.
As at June 30, Tiong Nam is constructing four new warehouses in Johor Bahru, Kedah, Sabah and Singapore, with a total capacity of 1.3 million square feet (sq. ft.), to be operational in stages between FY2025 and FY2026.
Additionally, Tiong Nam plans to build four more warehouses in Johor Bahru, Selangor and Kedah, with a total capacity of 0.7 million sq. ft. Construction of these warehouses is expected to commence in FY2025 and be completed in phases by FY2026.
The ongoing and planned expansions will boost Tiong Nam’s total warehousing capacity by 26.0% to 9.7 million sq. ft. in FY2026, from 7.7 million sq. ft. as at June 30.
