Hi all; anyone has any updates about Star Residences SR Tower 3 - the one they launched in partnership with Ascott ?

Hi...anyone attended the AGM? Can share the updates ?

The build is really fast.....when they stacked up one floor by one floor....

Sungai Long project is very far away...Sungai Long land is a leasehold land...being amortised yearly and the value drops annually. Hence, if the development is to be pushed out by three years, the land may not be so valueable.

The watershed moment is how Union Suites going to perform. This is more important than that Sungai Long land.

Since you are living in KL, why not if you go and visit their Union Suites sales gallery ?

@ nemesis....anything new other than bodek Symlife ?

Melanie's input seems to be very insightful

Shows

But then, Elevia Residence 70% sold only ...after so many years......
Poor sales for Tijani Raja Dewa at Kelantan,
And poor sales for Union Suites...only 33% sold for units being offered for sales...
Inventories of RM100M
All of this....shoes danger

Star Residences have started to contribute in a significant way ($17M). However, took a hit in the reversal on a gain for disposal of the Taman Midah land if about $7M.

Wct balance sheet is loaded with debts and it's head honcho is a good friend of Najib

good buying opportunity...buy more

when is the results going to be released?

SymLife mati liaw (cry cry sob sob)

The selldown for this counter is not as drastic as other major construction companies.

SymLife is green despite overall bloodbath ...testament to the expectation of a strong quarterly results.

the owner (and his merry men) is buying while the whole world is busy unloading on the cheap to him....

Tabung Haji just mop up 500K shares..

Tan Sri is a trustworthy man...

How you know it is LTH that buy ?

How you know today's volume is done by LTH ?

Wait for the biggee...Capital 21 yo...

Anxiously waiting for this May18 results...

Quarterly results out next week lah

@ azlan88, it seems that you have been holding onto Symlife for a very long time...like back in 2014/2015...when they first start building Star ....mind to share your average cost ?

It seems to me that M&A is a more likely option and it may involved TH Properties.

investing is the most intellectual if it is the most business like.

If i am LTH, what i will do is to exploit the current weak sentiment on property counter and further depressed the selling price.
The objective is two fold:
(1): to further average down on my holding cost which hovers around $0.80 (due to fixing the market at RM0.80 for RI purpose).
(2): it is cheaper to buy now at RM0.72 and just fork out RM0.35 for the RI. It is to my advantage to depress the market now.

However, once the pool of sellers dried up at RM0.72, LTH maybe forced to increase the buying price. However, i suspect LTH will keep it to a tight band.

But how you know it is LTH that is buying at small lots ? Ib the absence of an official disclosure, your guess is as good as mine...

No lar...the reverse is true.....LTH should be buying now...lower cost for them...they can average down given the majority of their purchases was made at RM0.89 when they fixed the market for rights issue.

sigh - price drops again

aiyoh....they just used RM2.5M to buy the remaining shares at Datapuri...no big deal....

sigh...price drops again...

@ Melanie 181818; you seems pretty sure that all of the shareholders will participate in this RI.

@ Melanie....every time when a company performs an RI.....in exchange of funds...they will issue more shares which effectively dilute everyone shareholdings , EPS and NTA....it is not something that we enjoy doing every few years...

Walau...suddenly...so many newbies here....

Any basis ?

LTH is buying almost everyday...

Another way to prop up its share price is via the payment of dividend .

Problem with Tambun is its virtually non existent unbilled sales. The drip in share price commensurate with the drop in its EPS.

@ nemesis...you seem to very confident that the share price will rise in the bear future. Mind to share your logic.? I am pretty sure that LTH will not be the one who will lift the market price....they will be more inclined to buy at the lowest price...

Why is it a good sign ?

My greatest fear is that the share price will continue to drop.....despite coming quarters will show good results. Currently, market sentiment for property stocks is not good.....coupled with rights...it deters people from buying because I buy at market price...I need to add RM0.35 for rights....scared the share price will fall...

Hi Melanie, just asking, how do you compute the OR at 0.23?

if their goal is to increase institutional participation, they can do private placement instead....of course, there is a dilution of control % for both TSMAY and GCSB....having said that...what is the impact to us, retail investors? what happens if you don't wanna subscribe to the rights? sell off the OR?

don't know whether it is good news or bad news....apparently, this rights issue is to help pay down the bank borrowings while the SymLife is getting additional fundings from the bank for their other projects...

Gadang being selective in projects is a good thing.

depending on which side of the fence that you are sitting at. The NTA is at RM0.9x. We are now trading below NTA. This stock is super undervalued and coupled with the fact profit will be as good as or even better than last year (as mentioned in the AGM), there is plenty of room to grow.

Things to look forward to for 2018.
- recognition of profits for the JB mall,
- utility plant coming online at both Sabah and Indonesia.

To quote Equity Diary:

Star Residences contribution:
4QFY17: RM5.546 mil
1QFY18: RM7.052 mil
2QFY18: RM9.045 mil
3QFY18: RM17.257 mil

To date - it is roughly 10% of SymLife's share of RM300M.
We got 90% more to go. Just combine this with the fact that
Tower 1 & 2 is fully sold,
Tower 3 is a done deal (hopefully fully sold by end of next year 2019),
Star Retails is 75% sold..

Why the above is so important?
This 90% profits will come fully online with no hindrance.... meaning we will not have unrealised profits locked in the form of housing stock.

Typically, property companies will capitalise their Property Development Costs as a balance sheet asset. Then, when the progress billings kick in stages, a portion that have been sold will be charged to P&L and matched against sales to generate that profit. Another unsold portion will get carried over (until the end of the project life) to become inventories/ housing stock.

Housing stock sitting in the balance sheet considered bad for business because
(1): profit cannot be recognised...EPS cannot grow...share price cannot increase
(2): funds locked in stock...money cannot flow...to earn more money...

MahSing - very aggresive in their multiple products launch...now, they have problems clearing their housing stocks....

Datuk Azman is prudent....he wants to launch and achieve 90% sales for each and every of his projects.....

TwY is already more than 95% sold.
Star is considered a done deal. Tower 3's partnership with Ascott will ensure brisk sales. It is just a matter of time the tower will be completely sold (before end of next year). Then, with that, the remaining Star Retails (about 25%) will get filled up.
With that, Symlife's share of the JV net profit of RM300M is safe in the pocket.

Even with a measly PE of 5 to 6, SymLife should be worth RM1.30. Anything less... i rather wait and just collect Dividend.

2014 4 cents div
2015 5 cents div
2016 2 cents div
2017 3 cents div
2018 ??? Maybe 4 cents div???

SymLife never missed rewarding the shareholders. Also, Azman always deliver what he "promised" in the AGM.

nothing is more powerful than an idea whose time has come....

Looked around but still prefer symlife

well...hopefully, other funds will jimp on the bandwagon too ...like KWSP