@ Sapphire....today is considered as T+2 and the spread is already at 6 cents. The best time to enter is within these few days (until Friday). Reason is the bull run on this counter occurs on Monday and T+4 is Friday. This week is highly likely to flush out all the contra players. Anyway, if you get it lower than RM1.20/- you should rejoice. Because i load up extra at RM1.20.
I know, silly me...but then, i buy to hold for long term (about 1.5 years - hopefully, they will issue treasury shares during my holding period). So, a few cents delta for me, is still ok.
@kancs, Why did Symlife sell the 200acres of Sg Long land to YTLCement? Did a bit of digging for info over the weekend. Back in 2007, Azman Yahya was cleaning up Symlife's debt by selling all non property related businesses; and the quarry business known as Kenneison Brothers was one of them they exited. Who did they sell this to? YTL Cement and as I understand, the RM24m sale involves all its machinery and quarry lease but not the land. YTL also pays Symlife RM3m per annum for the next 12years (up to 2019). So the relationship between Symlife and YTL were forged pretty early on which led to the eventual sale of the 200acre of quarry land in 2013.
@ Firebird2, i am a newbie - please help....from that page, where can i find information that Tong Kooi Ong is actually buying up the shares at Symlife? ******Teach me how to fish once, then, i can eat sushi everyday...**** hahaha
I think the price will hold steady. Q1 is seasonally lower and the lower profit was already expected when they announced the deferral of several projects in Q4. Looking forward, Q2 should record a one off profit of RM26.4M or 9.3sen in EPS. The unbilled sales are expected to increase significantly when the 3 new projects namely Elevia Residences in Puchong which was recently launched on 8 August 2014, TWY Mon't Kiara and Desiran Bayu in Sri Rampai to be launched in the third quarter of FY2015. FY2016 should be even better when Star Residences start to contribute.
Anyways let us not take our eyes of the prized assets which is the 419acre of Sg Long parcel. This is going to propel Symlife to RM4 or RM5 easily when the analyst start to cover this stock.
To recap, SYF recently paid RM31.08m to the landowners for the 8.1acre Sg Long parcel. This works out to RM88.15 per sqft.
Symlife has 419acres there valued at RM137.4m or RM7.52 per sqft. Using the RM88 per sqft benchmark, this land is worth an amazing RM1.606B or RM5.18/share on an undiluted basis or RM3.85/share with the warrants fully converted.
Then we have another benchmark from SHL Consolidated whose management stated their Sg Long land is worth RM130/sqft base on market value. Now this is worth Rm7.65/share.
If it goes down, that's what you call an opportunity.
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.
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 turning around and heading towards the right direction.
actually, the article by Master Icon8888 about its landbank in Penang is abit inaccurate. The bulk of its land outside of Selangor is located in Kedah. Its landbank in Penang has already been exhausted to build Surin. Surin is Symlife's maiden forey into Penang. http://www.apartment-penang.com/2007/12/surin-condominium-penang.html
I believe the Kedah's landbank will be used to build an affordable township - the bread-and-butter type of terrace houses which should tide Symlife over during bad times. Symlife maybe one of the few developers offering a suite of products that cater to the middle class and the upper class of society - all of which is good news because Symlife is poised to make money during good and bad times.
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This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
ryanlim1023
74 posts
Posted by ryanlim1023 > 2014-08-20 21:49 | Report Abuse
29/8 results out