anyone goes to their AGM today?

Haha. very good if they offer discount for shareholder. then people will rush to get the shares for the sake of discount. lol

whoa. price increase yesterday. hopefully can sustain the momentum today.

hopefully they wont take another year to 'shortlist' from 2 options they have right now. it already took more than 1yr to 'shortlist' from 5 options they have last year. I heard that they actually hadmade their mind about which assets to be bought as QA last time but 1 board member didnt agree due to controlling stake issue.

Maybe I shouldnt have bought cliq at first although small portion only. Infact I'm still holding since IPO. Wasting time and opportunity lost. If I had put the same amount of capital in other stocks i.e Datasonic, I would be laughing all the way to bank right now. IMHO, cliq directors should not receive salary/director fee until they deliver what they promised. sudahlah untung byk shm 1 sen jadi 75sen, salary pun besar and yet QA is still pending. Hrmmm

last week, someone bought at upper price. some maybe due to share buyback and others are long term investors. maybe it's time for mgmt to consider rewarding the shares kept in treasure or bonus issue to improve liquidity.

One example of good company with low liquidity is Freight Managament Holding berhad. It has great track record of earnings but liquidity is very low and hardly traded.

saw their advertisement on elevia residences promotion on 6&7 sept. believe it will have good take up.

http://www.thestar.com.my/Business/Business-News/2014/09/06/OSK-Property-set-to-double-profits-Firsthalf-results-185-higher-than-a-year-ago-on-ongoing-projects/

It has found support at RM1.18. Very good. Accumulation phase 2 after phase 1 at RM1.03. Believe it wil shoot up to RM1.40

Oskprop covered in The Star today. Very good

631,776 OSKProp warrant were converted to ordinary shares
http://www.bursamalaysia.com/market/listed-companies/company-announcements/1728297

today also 144,400 shares queued at 4.50pm to buy at RM2.65.

Something happening?

Although they disposed the land at a lower valuation (around RM12), the real money will come from development of PR1MA houses. I believe the PR1MA houses will be marketed at around RM300k, in which OSKProp as the main contractor will develop the house at around RM250k to Rm300k. Thus the revenue will be around RM340m to RM400m from this project alone. Let say their profit is 10%, therefore the minimum profit will be RM34m, which will bring additional EPS of 4.5cent/yr over 3 years. What is more exciting is PR1MA projects will likely to have'ready buyers due to subsidy given by government, and hence they will get good take up rate. Besides, PR1MA market will complement its current Bandar Puteri Jaya and also the planned development of the biggest shopping mall in Sg. Petani.

The sale of this land at RM56mil to the government will add another 20cent to the earnings. Based on the terms of agreement, the deal will be included in this quarter and reflected in Q3 2014 announcement. The first half performance had seen Oskprop rakes EPS of more than 20cent and with this deal, the EPS might be more than 50cent. At PE 7x - 9x, Oskprop might be worth between
RM3.50 to RM4.50, which still has huge upside from current share price of RM2.67. Until Oskprop provides the detail about the PR1MA housing contract, I will likely topup my investment. Plus the share price has retreated a bit from its highest price RM2.88.

This is just my opinion&assumption and does not indicate any recommendation to buy/sell.

happy investing. cheers!

Since the disposal of stake had been completed, it will be recognized in Q2. As I posted in my earlier comment, Q2 will be a very good quarter since it will include the gain from disposal. Some investors maybe worry of earnings fluctuations, but by the time Q3 is announced, it will already include the contribution from Elevia Residences and other launches. Unbilled sales will increase in Q2 and further increase onwards

One of the catalyst going forward, is the resumption of East Klang Valley Expressway project. If I'm not mistaken EKVE project has yet to started on ground due to some issues. However ifit does materializes, Symlife will be among the biggest beneficiaries. Started from Karak, Ekve will link Ukay perdana, Ampang all the way up to Sg. Long, which is were Symlife landbank sits. I believe they are in the process of readying the land for development and once Ekve revejunated, they are good to go.

The reason why they want to use RHB as the vehicle to acquire CIMB in the merger is to 'defeat' Aabar. If CIMB is used to acquire RHB, the main stumbling block will come from Aabar which they 'bought' the shares at RM10.80 from its parent company. Whichever company become the acquirer does not matter, but how the customer affected is more worrying.

Expect redundant branches to be closed and customers will be affected in any way until the merger fully completed. What I'm worry is there is rumour that RHB Investment Bank will be sold to foreign investment bank. In my humble opinion, OSK should be given chance to get back its former investment bank arm.

Nice move. Will bring extra GDV of around RM400mil.

good result announced

Suprisingly, Q1 FY15' performance is not too shabby. Eventhough the unbilled sales has dropped to RM175 million from around RM250 million in Q4 2014, I believe Symlife can sustain until Q3, when all the delayed projects are launched.

As for Q2 FY15' their net profit will be 'masked' by the gain from selling their stake with Guoco JV, if they can finalize the deal within this quarter plus some revenue from Elevia Residences which was launched on 8 August 2014. Therefore Q2 result announcement won't be bad.

As for Q3 FY15', it will be sustainable as I believe TWY Mon't Kiara and Desiran bayu had been launched.

I believe their strategy to develop land through JV will be rewarding as it brings down the cost (they do not have to splurge money to buy the landbank and the money can be used for working capital instead). Based on Q1 result announcement, their borrowings has been reduced, and hence reduce the financing cost. Thus more dividends can be dished out.

Cheers!

Ifca MSC got a good result yesterday. lol, I missed the boat.

new high. believe RM3.00 will be breach soon.

Tomorrow gonna up I think.

agree, with reduced borrowing they can give more dividends. EPS last year was 18cent, which mean simple PE 10x is translate to TP RM1.80, which is close to its NTA RM1.99
In the past, they were brought down by project delay but based on latest annual report, they have addressed this issu by appointing 2 new officers.

I believe each and every asset has its own potential. As for Sumatec, its assets are located onshore, and the one which was just acquired is at 1m water depth. Therefore the cost of developing this asset is very low. However all of its are located in Khazasthan, which mighu be affected by geopolitical issues eventhough it is more stable than any other post-USSR fraction countries. Khazastan have good relationship with malaysia, but this might change in future

As for Glotec, its recently acquired assets are unconventional one. The cost of development might be high and require advanced technology to extract. however these asset are close to malaysia, which are easier to monitor

I save my comments on cliq until they confirmed their QA.

can't wait for monday. want to topup both mother and daughter.
TP RM4.00 , based on annualized EPS at 10x PE.

I realized that the share price spike at the evening. Maybe funds like TH and AIA Funds have yet done collecting.

It is just a matter of time before everybody flocking onto this stock. I believe bonus issue can increase investors' interest.

current propeties market is just like 2011. After a strong gain in 2010, market take a breather in 2011, and pick up from there until 2013. This year it becomes soft due to re-introduction of RGPT, and increase in BLR recently. Next year property market will adjust for GST. I believe it will pick up from thereon

I read the earlier comment by sky2, regarding the sale of a portion of land in Sg. Long. If it is true, I would view it positively because what is more important is the speed of realizing income from land development. There is no point having huge tracts of landbank but unable to monetize them fast. Look at Tropicana, GOB, malton. They are undeniably among property companies that have huge landbank but their dismal share performance indicate that they need to do more about developing their landbank. Huge landbank requires a lot of working capital to develop plus need to pay more annual land tax. Unless, they are in the calibre of Mah Sing or SP Setia, which have the financial muscle and team to develop several township at one go, it is good for the small developers to have adequate landbank and develop very fast. Just look at example of companies such as L&G, Oskprop, Tambun, to name a few.

Thus, selling a portion will provide some money for working capital, reduce gearing and potential to launch development at higher prices, if YTL/Guocoland develop the portion of land they bought now.

only mother share will be entitled dividend. usually when quarter announcement is good, the share goes up.

Q1 10cent
Q2 11cent, plus give 5cent dividend some more.

a very decent result!
if annualized, EPS 40cent. At PE 10x, Oskprop is worth RM4.00!!
Esok sure jump! huat ar!!

how come director fees approved? they talk they work hard but it took them 1 yr to shortlist 2 out of 5. even sona has surpassed them.

New chairman appointed. From ex-Navy. Currently also serve the LTAT as the chairman since 2007.

I guess other than LTH and AIA Fund, LTAT is building up their stake.
AIA fund has already own collectively close to 5.6% and LTH stake is still below the 5% threshold. So does LTAT. Lim family own close to 62% if they don't sell to these fund. I remembered that few weeks ago, few millions shares were crossed around RM2.6x.

Believe that it will cross RM3.00 before year end.

Nice closing!

high volume + price increase.

another director appointed. hopefully they can justify the appointment by sealing with QA.
otherwise he will just makan gaji buta.

http://www.bursamalaysia.com/market/listed-companies/company-announcements/1697601

It says that net gearing will reduce from 0.28 to 0.18 (before deducting cash). Quite a substantial amount. Based on Q1 balance sheet, its borrowing was RM304mil (RM253mil ST + RM51mil LT). At 0.18x gearing, the borrowing will reduce to RM195mil. Almost RM100mil. I wonder how these borrowing is booked in their balance sheet if they hold only 18% in the JV

Anyway I salute to the new management of Symlife for being able to turnaround the a debt laden company (in fact their borrowing was Rm500mil) to what it is right now. These undervalued company will rise after stake disposal in JV is completed. with lower debt and some working capital to start with, it is exciting to see what is ahead of this company.

No TP since Oskprop is still a small cap property company (below RM1bil). Usually research house and investment bank only cover stock,which is over RM1b. So it is an opportunity to collect now before it breaches RM1bil soon. Yup agree with brendon, Oskprop should be worth around RM3.50. EPS for 1Q14' is already 10cent. If annualized and given PE10x it would be worth RMbe.00. 2Q, and 3Q might be slow a bit and allowing some discount, RM3.50 would be its value. By that time, oskprop will be valued at RM853mil, which may draw the interest of research houses to gv rating.

Btw, with the impending takeover of Rhb by Cimb might have to do with the privatization of Oskprop. Osk holdings Bhd, owns close to 10% of RHB following the selling of Osk invesmt bank to rhb, and the M&A with cimb is expected to be done at 1.5-1.7x book value. OSK will benefit tremendously since the value of their shareholding will increase in a bigger CIMB post M&A. Because of this, Ong family might want to have a tighter grip in OSK.

Making a direct offer to buy OSK would not be feasible unless Ong family want to pay a premium. Therefore it is easier for Ong family to swap their 75% direct share in OSKProp and Oskprop-wa for Osk shares. They have to swap at the highest Oskprop share for more shares in OSK. As a result, OSK hv to make MGO for the rest 25% in OSKprop at the same price. This would be a win-win situation for Ong family and minority shareholders

Happy investing!
TP RM3.50

Good news.
reduced debt and got additional income too.

alphajack, it seems that RM3 is not far away. haha

I doubt that it will take until year end to reach RM3. I believe it will touch RM3 very soon! haha. All it needs is only good news in October. Bonus issue will be good to increase liquidity and affordability.

TMakmur is listed at PE 10x only whereas other plantations company is listed at PE 12x to 18x. Even the overpriced Bplant is listed at PE more than 15x.

TMakmur will receive additional income of 20 to 30mil/year for the next 3 years from the bauxite mining plus property income. I think it should have good prospect as long as the CPO price maintains at the current RM2600.

One way to avoid subscribing for overpriced IPO such as BPlant, AAX, Astro, etc is to look for these sign:

1. Major shareholders offers a large number of their existing shares for IPO

2. Stabilizing mechanism by underwriters. (The underwriters will buy shares at IPO price, preventing the price go lower. It means that the underwriter had actually expected the price to go down)

3. Most of the IPO proceeds will be used to pay for borrowings.

Adoi. I planned to buy at RM1.03, but the price has increased. What to do.

Symlife is a typical stock that have been played by big shark. The price has languished around RM1.02 to RM1.05 for quite some time. The last surge was in April.

The price dropped from around RM1.21 to a lowest RM1.01 and from day to day the volume decreases. The modus operandi of these big shark is to suppress the price to force the investors to sell their shares. These big sharks has holding power, meaning that can suppress the price as long as they want. The suppression will cause frustration to investors, including the long term one. Yes you will lose confidence after some time eventhough the fundamental is very good.

If you see everyday, there will be large buyer at RM1.02/RM1.03 because they are ready to buy if you disposed your shares until no one hold more shares to be disposed at RM1.02/Rm1.03. By the time they must have accumulated many shares. Besides, they will put some 'resistance' at RM1.04, RM1.05, RM 1.06 to show that 'high' selling pressure. Berjuta-juta saham dalam tangan, jual sikit takkan kacau punya. haha

Anyway, as said by forumers above, Symlife has very, very good fundamental. It is undervalued some more. Except that, big sharks abused the retail investors. =)

It is amazing to see Tambun has gone up to new high everyday and you can see more and more research houses give their TP. As I said in my earlier postings (in fact you can check through the thread), research houses is likely to give TP mostly for companies that have reached or almost reach RM1 billion market cap. It is not a coincidence that both Tambun and Titijaya being covered by research houses at the same time, since they are almost breaching the RM1 billion Company mark. Along the way to reach that level, the research houses, which is mostly owned by investment had accumulated through their mutual funds and clients before the recommend to retail investors. I believe the recent price run-up of Titijaya might be attributed by the emergence of funds like Lembaga Tabung Haji with 4.7% stake and AIA with 4.3% (see latest CIMB report). The same should be for Tambun. Below are the TP given for both Titijaya and Tambun:

Tambun
RHB: RM3.00
Hong Leong: RM2.55 (before they formalize SPA with TPPT in regards to land buy)
JF Apex: RM 2.55 (before they formalize SPA with TPPT in regards to land buy)

Titijaya
AmResearch: RM3.30
Hong Leong: RM 3.30
Kenanga: not yet rated RM2.95-3.20
CIMB: not yet rated RM3.17-3.90 (or possibly they are still accumulating. Haha)

Do note that the TP for Titijaya will be upgraded to RM3.60 by AmResearch once its subsidiary, Titijaya Resource SB finalized the acquisition of Tenang Sempurna SB, which hold the provisional right for joint development of 5-acres land in Jalan Eaton opposite to Suria Stonor.

Whereas the TP for Tambun has yet to be updated by HLG and JF Apex following the recent formalization of SPA between Tambun and TPPT SB. TPPT intends to sell land to Tambun.

Although I do agree with these valuations, the recent price run-up has left little profit for new investors.

That is why it is important to find great small cap companies before it is covered by research houses. I remembered that I have bought Inari when it was only a mere 74 cent and now it has grown up to more than RM3.00. Same goes to Titijaya. I received the allocation through MITI at the price of RM1.50, when everybody avoided property companies (Titijaya announced IPO in a bad timing when the government the RGPT). Now it rose to RM2.80. Not forget to mention when I bought Tambun at around Rm1.40 and now it is worth RM2.50.

With KLCI at its highest, it is quite difficult to find great small cap companies, but I do believe there are still gems that have yet to be uncovered. I am looking at OSKProp, Unimech, Success Transformers, Symlife, just to name a few. It is a good practice to read their quarterly earnings, annual report and prospectus rather than hearing rumours.

Happy Investing. Cheers!

Wow. Titijya has gone up to new high everyday and you can see more and more research houses give their TP. As I said in my earlier postings (in fact you can check through the thread), research houses is likely to give TP mostly for companies that have reached or almost reach RM1 billion market cap. It is not a coincidence that both Tambun and Titijaya being covered by research houses at the same time, since they have breached Rm1 billion Company mark. Along the way to reach that level, the research houses, which is mostly owned by investment had accumulated through their mutual funds and clients before the recommend to retail investors. I believe the recent price run-up of Titijaya might be attributed by the emergence of funds like Lembaga Tabung Haji with 4.7% stake and AIA with 4.3% (see latest CIMB report). The same should be for Tambun. Below are the TP given for both Titijaya and Tambun:

Titijaya
AmResearch: RM3.30
Hong Leong: RM 3.30
Kenanga: not yet rated RM2.95-3.20
CIMB: not yet rated RM3.17-3.90 (or possibly they are still accumulating. Haha)

Tambun
RHB: RM3.00
Hong Leong: RM2.55 (before they formalize SPA with TPPT in regards to land buy)
JF Apex: RM 2.55 (before they formalize SPA with TPPT in regards to land buy)

Do note that the TP for Titijaya will be upgraded to RM3.60 by AmResearch once its subsidiary, Titijaya Resource SB finalized the acquisition of Tenang Sempurna SB, which hold the provisional right for joint development of 5-acres land in Jalan Eaton opposite to Suria Stonor. Although I do agree with these valuations, the recent price run-up has left little profit for new investors.

That is why it is important to find great small cap companies before it is covered by research houses. I remembered that I have bought Inari when it was only a mere 74 cent and now it has grown up to more than RM3.00. Same goes to Titijaya. I received the allocation through MITI at the price of RM1.50, when everybody avoided property companies (Titijaya announced IPO in a bad timing when the government the RGPT). Now it rose to RM2.80. Not forget to mention when I bought Tambun at around Rm1.40 and now it is worth RM2.50.

With KLCI at its highest, it is quite difficult to find great small cap companies, but I do believe there are still gems that have yet to be uncovered. I am looking at OSKProp, Unimech, Success Transformers, Symlife, just to name a few. It is a good practice to read their quarterly earnings, annual report and prospectus rather than hearing rumours.

Happy Investing. Cheers!

New high. Maybe another new high tomorrow.

Yesterday it was practically no much seller. At one time the seller just queue up at RM2.02, RM2.04, RM2.06, RM2.08, and RM2.10.

6 cents received. Another 6 cents from Q1 annoucement impending.
It will some time before others will appreciate this stock..

volume picking up.

It won't be as bad as BPlant. Boustead make tons of money by pricing their BPlant IPO at top price (more than 15x PE) while Tanah Makmur is only priced at 10x PE (the average plantation company are priced more than 10x in this current high CPO price). Boustead only spend few hundred millions to privatize Boustead Reit and now their holding in BPlant is more than RM1.5b, and plus they netted few hundred millions from share sale.

After going through the Tanah Makmur Prospectus, I can say Tanah Makmur is quite good. The oil palm tree profile is actually better than BPlant, only 18.7% of trees are above 19 years. 50% of trees are between 4 - 18 years which is good in the current high CPO price. The rest 31% is below 4 years which provides upside in future earnings, should the current high CPO sustains for many years to come.

As for their property play, GDV of KotaSAS might jump to RM3 billion from RM1.5 billion should the Pahang government decides to relocate their new administrative building in KotaSAS. I believe with connection to Pahang Royalty as their shareholders, this will happen. You know what I mean. haha

Don't forget that, their landbank in KotaSAS (which they said will not interfere with KotaSAS property development)contain more than 1.4 million tonnes of bauxite deposit and they have made smooth progress to monetize on this deposits since early this year.

Below are some TP provided by research houses.
CIMB 1.88
MBB 1.63
JF Apex 1.51
TA 1.48

What say you?

Bonus Issue will be nice!
I wonder if they want to go for REIT. Seeing so many malls planned to be developed by them. Atria Mall will be the first. =)

wish granted. RM2.00 barrier has been breached. haha

Which one will be takeover target?
PJDev or OSKProp?

http://bursadummy.blogspot.com/2014/06/osks-deal-coming.html

If OLH wants to privatize OSKProp, hopefully he will be very generous. But since he holds the major stake, minority shareholders might be jeopardized. To get a good deal, minority shareholders must join forces to push up the price. If the current price stays at around RM2.00, I believe OLH might offer somewhere RM2.50 to RM2.70, which is quite a bargain for him. OSKProp is expected to launch RM540 million from RM3 billion GDV in Sg. Petani next year, and land which have have not been revalued from as far as 1996 (Sg. Petani land). For other piece of lands, they were last revalued around 2007 to 2009, and most of them are freehold land, which might fetch higher valuation.

Based on annualized EPS for Q1, OSKProp would be valued RM3.90 at PE 10x. But allow some discount let say, RM3.50. The share price has a lot to catch up before OLH announces offer (if it happens) somewhere in October this year..

Based on the previous failed privatization of OSK and OSKVI, hopefully OLH has learnt that privatizing below NTA will not gonna make it. Haha. But this time he has larger stakes in OSKProp,

As said by bursadummy, this is my personal opinion and does not represent a recommendation to buy or sell. (sounds like research house exit caluse). LOL

http://bursadummy.blogspot.com/2014/06/osks-deal-coming.html

Maybe. Indirect order of their valves.