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2017-02-25 17:11 | Report Abuse
Quarterly results have not yet been released ....mmm...maybe they have got something to hide ??
2017-02-23 20:45 | Report Abuse
apa macam itu punya quarterly results belum keluar lagi?
2017-02-23 14:24 | Report Abuse
can't wait for the quarterly results
2017-02-22 10:56 | Report Abuse
very the kin-cheong...tomorrow is Quarterly Results releae...
2017-02-22 10:00 | Report Abuse
i suspect this mini run up is a precursor to winning the MRT project...
2017-02-18 12:56 | Report Abuse
welcome aboard, Mr Charles T.
The main contributor for the RM1,0B unbilled sales come from The Star project in KLCC. The average land cost pqsf for The Star project is slightly lesser than RM500 psqf. Now, they are selling at about RM1800 pqsf. In addition, The Star project is a super high dense project whereby each Retail Tower packs more than 300 units. This means extremely high revenue from selling these "show boxed" condo. Hence, you can imagine how much is the profit margin for this project.
Just remember that the take up rate for The Star Tower 2 is hitting 70%. It is the ONLY project in KLCC that is still selling like hot cakes. For RT3, they are in the early stages of discussion with a service operator to take up 50% of RT3.
Then, you have Union Suites with GDV of RM400M. Tan Sri has always mention that he will only launch a project when he is confident the take up rate will hit 80%. So far, he is correct for TWY Mont Kiara and Star Residences.
Being a Chartered Accountant by profession, I like Tan Sri's style as an aggressive yet prudent manager.
2017-02-15 16:25 | Report Abuse
where got? still stuck at RM0.72....
2017-02-08 19:23 | Report Abuse
@ nemesis ....the unbilled sales of $1.3B does not include the RT3 of Star Residences . during the AGM , it was mentioned that SymLife is arranging with a service operator to sell 50% of RT3. If you include RT3 inside SymLife' billed sales, it should be RM1.8B....assuming both Union Suite and RT3 is fully sold...
2017-02-08 17:45 | Report Abuse
Dunno when they will launch Union Suites ....if assuming 90% take up rate, hence unbilled sales can easily hit RM1.3B
2017-02-08 09:19 | Report Abuse
Slowly coming from the dead ...
2017-02-02 20:55 | Report Abuse
with an unbilled sales of RM1B - assuming a net profit margin of 20% realized over 4 years, each year, net profit will be RM50M.
This is already 25% of today's market cap (at share price of RM0.65).
Significantly undervalued !!
2017-01-30 07:53 | Report Abuse
Let us talk facts here .... If directors dispose, they need to make announcement in Bursa ...
2017-01-26 17:54 | Report Abuse
Gadang forum becomes a market place
2017-01-25 22:51 | Report Abuse
@ jazzlee, never mind lar....can use tongue mah ....ever heard of cunninglingus?? Also, can use finger ....
2017-01-25 19:14 | Report Abuse
@ stockmanny - time to cut your Xiao di di....don't eat your words leh....
2017-01-25 12:47 | Report Abuse
Actually, if Gadang can team up with Symphony Life to co-develop Sungai Long, then it will be a marriage made in heaven .
2017-01-24 22:17 | Report Abuse
Qtr results should be out either Wed or Thurs ...
2017-01-20 12:23 | Report Abuse
Qtr results when released ?? Adui....I think next year liaw ...
2017-01-19 16:55 | Report Abuse
walau....when will they release the quarterly results? tengah suspense ni..
2017-01-18 20:43 | Report Abuse
aiyohh....but next week is CNY lar...I think either tomorrow or Fri.
2017-01-18 18:46 | Report Abuse
Hi all; when will Gadang release the quarterly results?
2017-01-13 10:17 | Report Abuse
Refer to my posting....if you are willing to wait for one to years, the price can easily scale RM1.20
2017-01-12 21:34 | Report Abuse
I don't need to pray....data is all at my side
2017-01-12 20:23 | Report Abuse
Icon8888, ...you got buy back ? I thought you have transfer all in to AirAsia
2017-01-11 21:10 | Report Abuse
@ TKSW sifu....you want Stockmanmy to cut his kukuchai or his two balls ??
2017-01-11 20:52 | Report Abuse
@Stockmanmy....hey ..be a REAL man...get ready to cut to your kukuchai as you have promised ....hahahha...eunuch
2017-01-10 19:37 | Report Abuse
@ Si Min Tan, the reason it cannot be billed is because both TWY and Star Residences (both projects contribute significantly to the unbilled sales) are just about 20-30% completed. Sales are progressively recognized based on stage of completion.
2017-01-08 00:19 | Report Abuse
Bean counters really lack imagination ...
2017-01-05 12:42 | Report Abuse
when will they release Q2'17 results?
2017-01-04 17:38 | Report Abuse
Unbilled sales is an important indicator of the health of property construction company.
2017-01-02 00:29 | Report Abuse
now is the best time to access management's ability to deliver sales.
Extract from Q2'17 for Union Suites:
We intend to launch Union Suites@Sunway, with a projected GDV of RM400 million. This development consists of over 600 units of mainly small fully-furnished apartments targeted for students' accommodation and investors due to its proximity to several established universities, colleges and medical centres in the Sunway area. We are confident that despite the soft market, this development will be well received.
So, let us wait and see if they can achieve 80% sales - as implied by Datuk Azman Yahya during 2016 AGM. So far, he has delivered on both counts - TWY and Star Resi. Waiting for Union Suites.... :-)
2017-01-02 00:20 | Report Abuse
currently, this counter is extremely undervalued from both P&L and balance sheet perspective. A lot has been said about the ridiculously low net book value for Sungai Long land and how the NTA will shoot through the roof once Sungai Long has been revalued. Hence, I will not reinvent the wheel.
These guys have written well about SymLife:
http://equitydiary.blogspot.my/2015/09/symphony-life-deeper-look-into-its-deep.html
http://bonescythe.blogspot.my/2014/04/symlife-symphony-of-life.html
http://www.symphonylife.my/wp-content/uploads/2016/12/PDF-Symlife-August-2016-AGM-COVERAGE.pdf
Let us talk from the P&L perspective:
The main game changer here is the Star Residences project at KLCC. Profit margin is kick ass given that the land cost is ridiculously low at RM500 per sqf. I believe even with a high sales commission paid to attract overseas buyers, margin is somehow preserved at the high twenties owing to the extraordinarily low land cost.
Let us take a look at RT2 and how it impacts unbilled sales.
According to Q2'17, unbilled sales hovers at about $950M (close to $1B). This is based on 50% take up rate at RT2. According to
http://star-residences.com/assets/img/news/starnews-03.pdf
sales for RT2 has achieved more than 70%. With this announcement, I believe that unbilled sales will easily increase by additional $45M to $995M.
(Why $45M? = 300 units per Retail Tower x RM1.5M each (cheapest unit @ RM1.5M and max @ RM3M for penthouse units - being conservative, we take RM1.5M across the board) x 20% delta (between 50% vs 70% take up rate) / 2 due to 50%-50% JV) = $45M).
Of course, if they finished selling RT2 - then, unbilled sales should increase by a whopping $67.5M (same calculation per above), thus bringing it to $1.06B.
To keep things simple, unbilled sales can easily surpass $1B mark once RT2 is completely sold.
Well, can management achieved this feat? Well, they just raised the selling price at Sep'16. When a developer raised the selling price especially in such a soft market, they are confident they can complete selling the remaining units for RT2. If not, it is just suicide.
During AGM2016, management has revealed there are in the initial stages of discussion with a service operator to sell 70% of RT3. Of course, this deal is still shrouded with uncertainties. What is certain is that RT2 is now 70% sold and I am confident they can finish selling RT2 by the middle of 2017. Then, unbilled sales should hit RM1.06B.
Now, the next project in the pipeline is Union Suites with a GDV of RM0.4B. One of the takeaways from AGM2016 is that Datuk Azman Yahya has hinted that he is pretty confident the sales for Union Suites will easily surpass 80%. Why is this important? Datuk Azman Yahya has emphasized that for a project to be cashflow neutral, sales need to surpass 80% and they will not launch if he is NOT confident if sales cannot hit 80%. Now, whether his team can deliver those numbers? This is a big question mark.
Assuming if he can, then, total unbilled sales can easily hit RM1.4B (a very conservative number) for 2017. This has a big impact on share price. Assuming if Star Residences, TWY and Union Suites takes about 4 years to complete, then,
RM1.4B (unbilled sales) / 4 years x 20% net profit margin = $70M net profit / 310M shares = $0.22 EPS.
Assuming if a conversative P/E of 5 is applied = 5 x $0.22 = RM1.10.
We should be looking at a share price of RM1.00 (to be conservative).
Hence, from the current share price of $0.65, there is a potential gain of 50%.
2016-12-31 11:11 | Report Abuse
To all Gadang loyal supporters, happy new year 2017!! Huat arr..
2016-12-31 11:10 | Report Abuse
@ brother BlueFun, let us introduce ourself next year at Gadang AGM....
2016-12-31 10:22 | Report Abuse
My prediction is that the share price will slowly rise in anticipation of a better quarterly result. The next 3 quarters will be extremely good to at least match last year's performance. If proven true that next quarterly result is good, then the share price will fly north. My previous experience with Gadang is that Kok Onn is honest and once he has committed openly to the press, he will follow through. Indeed, it has been a few times that management has commented that FY17 results will be as good or even better than 2016. The share price will definitely rise from now on. After 2017, then 2018 will be supported by the project wins in 2017 such as an MRT package, hospital win in cyberjaya and just maybe, the LRT project. Then , this will be bouyed by Capital City and Cyberview. With such high earnings visibility and management competency and honesty, this share will rise north. You will win only if you dare to bet big and believe.
2016-12-29 07:40 | Report Abuse
The true winners are the ones who bought at low prices, went through the corporate exercise and still holding until today.
2016-12-29 07:40 | Report Abuse
Steady build up in anticipation of a better quarterly result announcement in Jan 2017. If this materialised coupled with a few mega projects win, then Gadang will head north.
2016-12-27 11:01 | Report Abuse
The warrant is already in the money ....
2016-12-24 22:16 | Report Abuse
Happy merry Christmas everyone
2016-12-24 22:15 | Report Abuse
Happy merry Christmas everyone ...
2016-12-23 18:33 | Report Abuse
why share price increase when the overall market is down?
2016-12-19 20:16 | Report Abuse
The worst part is that he bought Gadang at RM0.89 when he asked others to sell....how unethical is that ??!!
2016-12-16 12:22 | Report Abuse
Hi all, can share the RHB research paper that mentions TP is RM1.40?
Stock: [SYMLIFE]: SYMPHONY LIFE BERHAD
2017-02-26 19:53 | Report Abuse
@ nemesis, hope you are right for both of our sake.