Posted by siam8888 > 2014-04-19 11:57 | Report Abuse

Good luck to all, this is my last recommendation analysis counter given! Wish you all make money! Happy investing!!

Posted by kytan > 2014-04-19 12:24 | Report Abuse

Thanks siam8888

Posted by kytan > 2014-04-19 12:57 | Report Abuse

http://klse.i3investor.com/blogs/icon8888/50533.jsp

Posted by ivian > 2014-04-19 13:53 | Report Abuse

Siam, still worth to buy at 1.16?

Posted by popo > 2014-04-19 14:13 | Report Abuse

maybe no more price selling for 1.16.............this counter likes GADANG . it is still very cheap.....TP RM 3.50.

Posted by tonylim > 2014-04-19 14:21 | Report Abuse

Wow 3.50. Looonnng way to go.

Posted by Joel > 2014-04-19 14:59 | Report Abuse

agreed with popo, Monday will be open high price like GOB also.

Worth to buy in !

http://klse.i3investor.com/blogs/icon8888/50533.jsp

Posted by Joel > 2014-04-19 14:59 | Report Abuse

As at 31 December 2013, the group has net assets of RM544 mil, interest bearing debts of RM295 mil and cash of RM132 mil.

To be conservative, let's assume that all the cash will be used to fund the group's future landbanking and / or property development activitues. As such, the gearing is 0.54 times.

However, out of the RM295 mil debts, RM130 mil is due in 5 years time (Islamic Medium Term Notes). As such, over the next few years, the group only needs to service principal repayment of RM165 mil, or average of RM33 mil per annum.

This amount is relatively small if compared to the group's net assets of RM544 mil and revenue of more than RM400 mil in the latest financial period.

In other words, the group has a relatively healthy balance sheet and shouldn't have problems servicing its financial obligations.

Posted by Joel > 2014-04-19 15:00 | Report Abuse

As shown in the table above, the group has more than 900 acres of land bank at strategic locations (mostly Klang Valley and Penang) with net book value of RM458 mil.

One of the most interesting piece is the 419 acres located at Sungai Long near Kajang, which has GDV of RM6 billion and could last the group for 10 years.

Many of these land bank were acquired / revalued many years ago. As such, the actual valuation should be substantially higher.

Posted by Joel > 2014-04-19 15:00 | Report Abuse

The group is also in joint ventures with various parties to undertake development projects in KL, Kelantan and Sabah.

Altogether, future GDV is approximately RM3 billion, approximately 7 times 2013's revenue of more than RM400 mil.

It is estimated that unbilled sale as at December 2013 is apprxoimately RM600 mil.

Posted by Joel > 2014-04-19 15:01 | Report Abuse

6. Concluding Remarks



(a) Symlife is trading at substantial discount to net assets. Based on its net assets per share of RM1.93, PBR is 0.60 times only.

The net assets per share of RM1.93 has not factored in hundreds of million Ringgit of potential revaluation surplus.

In my opinion, revaluation surplus is more than just paper gain. Landbank that has not been revalued would automatically lead to fat profit margin when the properties are launched and developed.

This augurs well for the group's profitability going forward.



(b) The group has healthy balance sheet. The bulk of its debts are due in five years time. The group would have ample financial flexibility for expansion and to cope with any contingencies.



(c) The group's huge 419 acres of development land at Sungai Long is one of its key attraction. Bandar Sungai Long, located in Kajang, used to be considered a remote area. But with the completion of various highways, it is now only approximately 40 minutes travelling distance from KL. As such, in recent years, the area has attracted attention from housebuyers and property investors.

The group has settled the conversion premium and extension of lease for the land. It is estimated that the Sungai Long project will have GDV of RM6 billion and will take easily 10 years to complete.



(d) The stock is now trading at undemanding historical PE multiples of 7 times. This is expected to drop further as future development profit are gradually booked in.

Due to its low profile, the stock is relatively unknown to investors. However, it would be a matter of time before it starts gaining recognition, just like Gadang and GOB.



Symlife is interesting because it has small market cap and yet sits on huge tracts of land bank. Most of which are not revalued and reflecting market pricing at 1990s and early 2000s. The group used to be mired in debts. But with new owner and management, the group is finally truning around and heading towards the right direction.



An interesting small cap stock packed with potentials.

Posted by tonylim > 2014-04-19 15:20 | Report Abuse

Bones what about star residence in Jan yap kwan seng. They sold off the land?

Posted by Joel > 2014-04-19 15:22 | Report Abuse

Buy in b4 go to the next higher price by Monday next week !

Posted by Joel > 2014-04-19 15:23 | Report Abuse

Short-term TP rm1.35.
2 - 3 months TP rm1.80 above.

Posted by kytan > 2014-04-19 15:26 | Report Abuse

Gadang initial coverage on 2nd April price at 1.14 today is 1.81 (+58.8% up)
http://klse.i3investor.com/blogs/icon8888/49119.jsp and paysite

SBCCORP initial coverage on 1st April at 1.82 today is 2.35 (29.1% up)
pay site

Symlife initial coverage on 17th April at 1.06 today is 1.16 (9.4% up)
http://klse.i3investor.com/blogs/bonescythe/50367.jsp and pay site,

so buy at your own risk. I still hold 2200lot (x100) of symlife-wb. don't said i bring you to holland or want to release my share to you...
look at gadang and sbccorp..initial spike also still have few days to play than minor correction..SBCCORP believe still will up because the sell down volume is less..so after T+4 on last friday, may go up again on Monday

Posted by Jack Ong > 2014-04-19 15:45 | Report Abuse

Lol .. We all ride the same boat .. Cheers .. :D

Posted by TomnJerry888 > 2014-04-19 16:16 | Report Abuse

Tonylim still taking free?

Posted by Joel > 2014-04-20 08:13 | Report Abuse

mind ur word,kytan.
Hope SBCcorp on the way to the North---rm2.40 above !

Posted by Joel > 2014-04-20 08:13 | Report Abuse

as same as Symlife--- rm1.25 above on Monday.

Posted by siam8888 > 2014-04-20 11:43 | Report Abuse

If based on PE calculation, please refer to my strong recommendation buy in for A&M before this counter price is RM1.15! cheer!!

Posted by Bill71 > 2014-04-20 15:59 | Report Abuse

sure will gap up on Monday.

Posted by tjhldg > 2014-04-20 19:47 | Report Abuse

kikikikiiii .... huat aarrrrrrrrrrrrrrrrr ... cheerssss to all early bird in this counter : )

Posted by ywwong1128 > 2014-04-20 21:49 | Report Abuse

which is more potential. symlife or a&m? hi wong fr pg

Posted by tjhldg > 2014-04-20 21:56 | Report Abuse

on this monday/tuesday 80 % is symlife .. after 2 , 3 day than dont know : )

Posted by kytan > 2014-04-21 08:30 | Report Abuse

if research bank start coverage this SYMLIFE...it will going up like gadang.

Posted by kytan > 2014-04-21 09:46 | Report Abuse

the 1.2 block look like want to to flush contra player...early morning being there..hope can clear today..

Posted by bonescythe > 2014-04-21 09:53 | Report Abuse

kikiki

Still chasing ah?

Posted by siam8888 > 2014-04-21 09:53 | Report Abuse

Target price achieved at RM1.20 before I analysis!

Posted by Joel > 2014-04-21 09:54 | Report Abuse

on th way go 1.25 today !

Posted by siam8888 > 2014-04-21 09:54 | Report Abuse

Breakout RM1.20...up up! Next...

Posted by Joel > 2014-04-21 09:58 | Report Abuse

today sure break rm1.20.
TP today to go is at rm1.30 !!!

Posted by Heng611 > 2014-04-21 10:22 | Report Abuse

PE still below 10

Posted by Heng611 > 2014-04-21 10:27 | Report Abuse

My target price for non re-rate PE 15 less 20% = RM1.68

Posted by kytan > 2014-04-21 10:49 | Report Abuse

SBCCORP up 4.26%... Joel you should happy loh...2.44 now

Posted by Joel > 2014-04-21 12:20 | Report Abuse

ok lah. kytan.

Posted by dragonlim > 2014-04-21 13:32 | Report Abuse

Could anybody advise the TP for Symlife as well as Symlife-WB?

Posted by Heng611 > 2014-04-21 15:06 | Report Abuse

unbill sales RM500mil, 2014 PE ???, I think 2014 PE 4 to 7

Posted by dodo2368 > 2014-04-21 15:33 | Report Abuse

siam8888. should hold..

Posted by Ring > 2014-04-21 17:53 | Report Abuse

Symlife by bones is 3.50.Prpoerty with land are booming, Malton and Minho (TP 2.50) have good potential.

Posted by Ring > 2014-04-21 17:55 | Report Abuse

Today Index closed 1863 n once hit 1800 may make U turn... watchout!

Posted by Icon8888 > 2014-04-21 18:02 | Report Abuse

Touch 1800 ?

Posted by Ring > 2014-04-21 18:54 | Report Abuse

Sorry 1880.

Posted by Joel > 2014-04-21 20:39 | Report Abuse

Symlife also can reach rm1.50 - rm1.65 soon.

Posted by popo > 2014-04-21 21:22 | Report Abuse

by June 2014 can reach 2000.dragon lim, wb today touch 0.55,so 60 ~70 shouldn't no problem if mother go until rm1.50. this is only thinking only (take your own risk).

Posted by tjhldg > 2014-04-22 01:17 | Report Abuse

huat huat huat ... bbq 60 % liau

Posted by dragonlim > 2014-04-22 09:28 | Report Abuse

Thanks for your advice, popo.

Posted by tjhldg > 2014-04-22 09:51 | Report Abuse

kikikiii ... 80 %

Posted by valueinvestor18 > 2014-04-22 10:28 | Report Abuse

Presently under consolidate before moving to RM 1.20

Posted by readingster > 2014-04-22 13:38 | Report Abuse

how can this counter down when klci up?huhu

Posted by sunsun2012 > 2014-04-22 13:43 | Report Abuse

Go and buy it. It going to goreng.