I am happy with the 5 sen dividend received and I am positive of the future such as announcement that:
"Symphony Life (SymLife) plans to undertake a property project comprising of service apartments and shop offices with a GDV of RM600m along Jalan Cheras. SymLife had entered into a development agreement with Majlis Kebajikan Dan Sukan Anggota-Anggota Kerajaan Malaysia (MAKSAK), the owner of the13,595 square metres leasehold land, for a total consideration of RM100m." (StarBiz)
Property is not hot currently, but property stocks are presenting good value for those who invest in the future.
I added SymLife recently at RM0.71. I hope to buy more on weakness.
Tis counter should be valued at least 1.20 right now...good dividend, strong management, and consistent strong earning record...I m ready to grab more 2molo b4 it rises more n more...
Haha Jolin Lai Chi Pet...u are such a foolish thinker...Dun you know i always welcome low price n bad sentiment...tat is why you are called La i C-h-i P-e-t for a reason hahaha!
Actually, I am very confident that SymLife will surpass RM1.00 at the end of next year 2016.
Let us not talk about undervalued assets (especially now that the market don't give a damn about NTA since majority of the property developers are trading at a deep discount to NTA) but purely from the P&L perspective: - unbilled sales of RM700M from TWY and Star 1, - booking rate to date for Star 2 more than 25% (70% of phase 1 for Star 2 has been booked ~ phase 1 = 40% of Star 2), and - Signature Retails more than 70% sold (an increase of 22% compared to Sep'15).
Based on point 2 & 3, future unbilled sales can easily surpass RM700M (for both Q416 + Q117) and the main contribution will come from the Star project. Per checking with the Sri Hartamas agent, Star 2 has obtained APDL and they are now in the process of getting the S&P to be signed. In addition, let us not forget the cost of land is cheap for Star Resi and TWY at Mount Kiara...all of this is a postitive from the P&L perspective.
Why the above is important? In terms of project risk: For Star Residences, SymLife will break even after selling Tower 1 and 2. Tower 3 will be their profit. Now, they are 25% sold on Tower 2. Still have 75% to go. For Signature Retails, once the sales have surpassed 70%, they have break even and the remaining 30% is their profit. Accounting for the Star Project alone, using a meek P/E of 6.0, SymLife should be worth RM1.20 kind of price.
Anyone tried visiting Sales offices for Star residence? what is Symlife's strategy of selling remaining units? given high end residential market is slowing down, are they offering discounts that will affect margins?
I would like to know the take up rates for Star residence, as Symlife does not have a good reputation after delivering subpar quality at Wharf Puchong. Having visited Wharf Puchong few times, I see the residential units mostly rented out to foreigners, commercial units 80% vacant, lifestyle mall no where to be seen despite promises.
Thinking from a business point of view, I can't see what is Symlife's strategy going forward - high end? or mass market (Sg Long)? how many years do shareholders have to wait?
Haha Chi Pet did u lose a lot of money lately...I m totally sure about it as u like to bug at others when u lost money...Tat is how I smell u fm afar Jolin Lai Chi Pet...Anyway 2016 will bring u more downfall n losses...don say I din warn u k...more downside for u!
Woohuuu Jolin Lai the pussy Lai Chi Pett...really pity u are losing money again in Symlife...I really hope tat symlife will drop to 0.50 IF u are holding it...cos I don wanna see u prosper...haha! The next to go down is mkland...don be sad yea
The Star Residences Retail Tower 2 (RT2) is already 30% sold. Keep in mind that SymLife will break even after selling off RT2 and RT3 is completely their profit. In addition, the RM700M unbilled sales will kick in during FY17. Good days are ahead for Symlife.
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....
fairnreasonable
240 posts
Posted by fairnreasonable > 2015-10-18 13:04 | Report Abuse
I am happy with the 5 sen dividend received and I am positive of the future such as announcement that:
"Symphony Life (SymLife) plans to undertake a property project comprising of service apartments and shop offices with a GDV of RM600m along Jalan Cheras. SymLife had entered into a development agreement with Majlis Kebajikan Dan Sukan Anggota-Anggota Kerajaan Malaysia (MAKSAK), the owner of the13,595 square metres leasehold land, for a total consideration of RM100m." (StarBiz)
Property is not hot currently, but property stocks are presenting good value for those who invest in the future.
I added SymLife recently at RM0.71. I hope to buy more on weakness.