More significantly, TriTech is on the verge of launching the IPO of its subsidiary, Terratech Group, under which the marble quarry business is parked.
Terratech Group has the right to possess and operate its Kelantan Marble Quarry up to 26 January 2044.
According to its preliminary IPO prospectus, the quarry produces marble products which are suitable for high-end commercial and public buildings, such as hotels, office buildings, museums, memorial halls and mosques, and residential uses.
"Our marble products, being foreign imports, should generally enjoy a premium in the PRC market."
"Our marble products, being foreign imports, should generally enjoy a premium in the PRC market."
Its current production capacity is sufficient to support its order book of approximately S$23.46 million, a significant proportion of which it expects to fulfil in FY2015 (source: Page 76 of prospectus).
In Malaysia, there are only three other marble quarries, two of which are located in Ipoh, Perak and one in Sabah.
"However, these quarries are on a much smaller scale compared to our Kelantan Marble Quarry, with a combined production capacity which is significantly lower than our Kelantan Marble Quarry,
and moreover most of the marble blocks produced from such quarries are consumed domestically,"
said Terratech in its preliminary IPO prospectus (page 141). Recent story: 5 Key Points About Impending IPO of TERRATECH
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