Posted by warchest > 2020-07-19 13:45 | Report Abuse

My key takeaways for Ecoworld International. The only pure play overseas property developer in Malaysia. Hope they will provide great guidance on the Company’s financials and outlook especially for those that wanted to diversify into overseas real estate investments. Ideas are easy but execution is everything. That’s what Ecoworld International is doing now. Good weekend guys!

Posted by warchest > 2020-07-19 13:45 | Report Abuse

https://klse.i3investor.com/blogs/TimelessInvestment/2020-07-19-story-h1510607050-Eco_World_International_Build_to_last_but_a_little_smarter.jsp

Posted by Victor Yong > 2020-07-20 10:16 | Report Abuse

Another hidden gem by sime Darby group :)


Sime Darby Property Bhd - Below Our Expectation
Date: 22/05/2020

Stock : SIMEPROP Source : KENANGA
Price Target : 0.88
Last Price : 0.64


1QFY20 CNP of RM19.6m came in below our (3%) and consensus (5%) on a weak top-line and associate as well as JCE losses. 1QFY20 sales of 245m were also below at 14%. We trim earnings for FY20-21E by 37-29% to RM410-497m on lower property sales targets and recognitions from slower work progress. Maintain OUTPERFORM and TP of RM0.88 based on -1.5SD of 0.64x to its adjusted BV/share of RM1.38.

Below expectations. 1QFY20 CNP of RM19.6m came in below our and consensus expectations at 3% and 5%, respectively. The reason for the deviation was due to weaker-than-expected top-line that came in at 15% of our estimate, and associate and JCE losses of RM11.3m. 1QFY20 sales of RM345m also came in below at 13.8% of our FY20E sales target of RM2.5b. Sales were mainly driven by Kota Elmina, City of Elmina and Bandar Bukit Raja townships. No dividends, as expected.

Results’ highlights. YoY, topline was down by 17% on lower recognitions from the property segment mainly on weak performance at its Negeri Sembilan and Johor and integrated townships. All in, CNP declined by 93% on; (i) associate and JCE losses of RM11.3m (vs. RM3.5m profit) from lower contribution from PJ Midtown and higher share of losses from Battersea, (ii) other operating expenses of RM5.4m loss (vs. RM204m gain in 1Q19 driven by the sale of Darby Park), and (iii) a high effective tax rate of 81% (vs. 9% in 1Q19). QoQ, top-line was down by 46% due to stronger recognitions in 4Q19 which cascaded straight to bottom-line which declined by 85% due to similar reasons mentioned above.

Outlook. We lower FY20-21E sales target to RM1.7-2.1b (from RM2.5b each) as the Covid-19 pandemic may impact buyer sentiment going forward. Upcoming launches include mostly of landed residential projects in townships. The Group has secured total bookings of c.RM900m thus far which is primed to be converted to sales. Unbilled sales of RM1.5b provide c.1-year visibility.

We lower FY20-21E CNP by 37-29% to RM410-497m as we opt to be more conservative expecting lower sales on weaker buyer sentiment and the signing pace of SPAs, while future construction progress may see delays going forward as a result of Covid-19. We also expect weaker contribution from the leisure segment as events and functions have declined following the Covid-19 pandemic outbreak. FY20-21E dividend of 1.8-2.2 sen imply yield of 2.7-3.2%.

Maintain OUTPERFORM and TP of RM0.88. We maintain our conservative adjusted P/BV valuation method to ascertain the trough valuations of property stocks amid the prevailing market down-cycle. Our TP remains unchanged despite lowering our P/BV multiple SD to -1.5SD of its 3-year historical band at 0.64x (from -1SD of 0.63x post updating our bands), and on an adjusted BV/share of RM1.38 (from RM1.40) after imputing a 40% discount to its latest available inventory level of completed properties. We believe SIMEPROP remains an OP as we have priced in most negatives to our earnings and valuations given its oversold position (-25% YTD, trading at a 52% discount to BVPS), while coming quarters should see better earnings as work progress is resuming gradually post MCO and on expectations of lumpy land sale gains ahead. We continue to like SIMEPROP for its healthy balance sheet and low gearing levels of 0.25x which bode well during times of uncertainty, and its active inventory clearing efforts to RM6.5b (from RM6.6b in 1Q19).

Source: Kenanga Research - 22 May 2020

Posted by Victor Yong > 2020-07-20 10:18 | Report Abuse

Also best buy :)


Date Close
17/07/2020 0.64
16/07/2020 0.635
15/07/2020 0.66
14/07/2020 0.675
13/07/2020 0.67
10/07/2020 0.69
09/07/2020 0.705
08/07/2020 0.71
07/07/2020 0.72
06/07/2020 0.715
03/07/2020 0.69
02/07/2020 0.68
01/07/2020 0.67
30/06/2020 0.68
29/06/2020 0.68
26/06/2020 0.70
25/06/2020 0.69
24/06/2020 0.70
23/06/2020 0.695
22/06/2020 0.72

Posted by Good123 > 2020-07-20 10:31 | Report Abuse

boost sales n profitability.

In a statement, the property developer said that a total of 740 bookings took place between March 25 and July 5,2020 from its online campaigns

PETALING JAYA: Sime Darby Property Bhdhas garnered about RM680mil of bookings for properties from its online campaign during the movement control order (MCO).

In a statement, the property developer said that a total of 740 bookings took place between March 25 and July 5,2020 from its online campaigns.

This is despite its show galleries being closed or operating at half capacity during MCO that started from March 18, as part of the country’s effort to curb the coronavirus (Covid-19) infections.

It said purchasers were mainly from within the Klang Valley and surrounding areas, and some were even from as far as China.

“Sime Darby Property’s website traffic was consistently high throughout the campaigns, averaging more than twice the usual volume, ” the company said.

Sime Darby Property group managing director Datuk Azmir Merican said the online campaigns have allowed home buyers to own prime properties with greater convenience.

“The successful online campaigns show that Sime Darby Property can embrace digitalisation and adapt to the changing operating landscape.

“Future Sime Darby Property launches will also benefit from the utilisation of online portals, now part of the digital transformation initiative aimed to revolutionise the company’s property buying process, ” he said.

Posted by Good123 > 2020-07-20 10:35 | Report Abuse

dividend yield 9% highest among property stocks?

Posted by Victor Yong > 2020-07-20 13:20 | Report Abuse

simeprop is the the highest dividend stock among prop stocks and also penny stocks

DY~9%+++ based on current lelong price :)

Ann. Date
Ex Date
Type
Subject
Amount
View
26-Feb-2020 30-Mar-2020 DIVIDEND Second Interim Dividend RM 0.0200 Dividend Detail
28-Aug-2019 27-Sep-2019 DIVIDEND Interim Dividend RM 0.01 Dividend Detail
27-Feb-2019 27-Mar-2019 DIVIDEND Interim Dividend RM 0.01 Dividend Detail
28-Aug-2018 26-Sep-2018 DIVIDEND Second interim dividend RM 0.03 Dividend Detail
26-Feb-2018 12-Apr-2018 DIVIDEND Interim Dividend RM 0.02

Posted by Victor Yong > 2020-07-20 13:47 | Report Abuse

Currently PNB and the EPF together own approximately directly and indirectly 67% of the equity in the Battersea Power Station development. PNB holds majority stakes in S P Setia and Sime Darby Property which jointly own 80% of the equity in the Battersea Power Station development whilst the EPF directly owns 20% of the Battersea Power Station development.

Battersea, UK. As the UK economy was also hit by Covid-19, combined take-up rates for the Phase 2 and 3a now hovers around the 70% range (from 91% and 71%, respectively as of FY19) with buyers withdrawing their bookings. Management has yet to confirm any delays in handovers of the projects and maintain its target for now. We note that the construction progress is ongoing at c.75% with social distancing measures in place. To recap, Phase 2 is expected to be delivered in 2QFY21 and Phase 3a in 3QFY21.

Posted by Good123 > 2020-07-20 14:11 | Report Abuse

In weathering the storm, the Company remains confident in its financial position, as reflected by its strong
track record and a robust balance sheet. As at 31 March 2020, unbilled sales in hand remained at a healthy
RM1.5 billion, coupled with a targeted pipeline of new launches. The Company’s bank balances also stood
at RM925.5 million with solid cashflow from operations at RM120.5 million, while its net gearing ratio
remained low at 0.26x

Posted by Good123 > 2020-07-20 14:12 | Report Abuse

gearing at 0.26x, among the lowest among property developers

Posted by Victor Yong > 2020-07-20 14:16 | Report Abuse

institutional funds are grabbing the shares :)

AMANAHRAYA TRUSTEES BERHAD - AMANAH SAHAM BUMIPUTERA 26-Jun-2020 Acquired 1,337,100 0.000 View Detail
AMANAHRAYA TRUSTEES BERHAD - AMANAH SAHAM BUMIPUTERA 25-Jun-2020 Acquired 4,000,000 0.000 View Detail
AMANAHRAYA TRUSTEES BERHAD - AMANAH SAHAM BUMIPUTERA 24-Jun-2020 Acquired 830,500 0.000 View Detail
EMPLOYEES PROVIDENT FUND BOARD 23-Jun-2020 Acquired 1,220,000 0.000

Posted by Good123 > 2020-07-20 14:39 | Report Abuse

Transactions with shareholders and Government
Permodalan Nasional Berhad (“PNB”) and the funds managed by its subsidiary, Amanah Saham
Nasional Berhad (“ASNB”), together own 56.8% as at 31 March 2020 of the issued share capital of the
Company. PNB is an entity controlled by the Malaysian Government through Yayasan Pelaburan
Bumiputra (“YPB”). The Group considers that, for the purpose of MFRS 124 – Related Party Disclosures,
YPB and the Malaysian Government are in the position to exercise significant control over it. As a result,
the Malaysian Government and Malaysian Government’s controlled bodies (collectively referred to as
government-related entities) are related parties of the Group and the Company.
Transactions entered by the Group and the Company with shareholders and related parties include
purchase of raw materials, placement of bank deposits and use of public utilities and amenities. All the
transactions entered by the Group and the Company with the related parties are conducted in the ordinary
course of the Group’s and the Company’s businesses on negotiated terms or terms comparable to those
with other entities that are not related.
Significant transactions entered with shareholders and government-related entities during the financial
period include:

Quarter ended
31 March
2020 2019
Yayasan Sime Darby
Contribution paid to Yayasan Sime Darby (10,000) (10,000)
Sime Darby Berhad group
Rental income 2,946 2,950
–
Sime Darby Plantation Berhad group
Rental income 1,938 1,603
Subsequent to the end of the reporting period, on 28 April 2020, Sime Darby Brunsfield Damansara Sdn
Bhd, Sime Darby Property (Ara Damansara) Sdn Bhd (formerly known as Sime Darby Ara Damansara
Development Sdn Bhd) and Sime Darby Holdings Berhad entered into a Supplemental Agreement to the
Sale and Purchase Agreement dated 20 June 2017 (“SPA”) in relation to the disposal of two (2) blocks
of eleven (11) storeys (with a ground floor and roof top) of commercial office buildings together with
accessory parcels and one (1) level of basement car park at basement 2. The Supplemental Agreement
has amended certain terms in the SPA whereby the purchase consideration has been adjusted to RM200.0
million as a result of the finalisation of the net floor area measurement.

Posted by Good123 > 2020-07-20 14:49 | Report Abuse

already owned so much. Masih sapu. Changes in Sub. S-hldr's Int (Section 138 of CA 2016)

SIME DARBY PROPERTY BERHAD

Particulars of substantial Securities Holder

NameAMANAHRAYA TRUSTEES BERHAD - AMANAH SAHAM BUMIPUTERAAddressTingkat 4, Balai PNB
201-A, Jalan Tun Razak
Kuala Lumpur
50400 Wilayah Persekutuan
Malaysia.Company No.200701008892 (766894-T)Nationality/Country of incorporationMalaysiaDescriptions (Class)Ordinary Shares

Details of changes

NoDate of change

No of securities

Type of TransactionNature of Interest126 Jun 2020

1,337,100

AcquiredDirect InterestName of registered holderAmanahRaya Trustees Berhad - Amanah Saham BumiputeraAddress of registered holderTingkat 4, Balai PNB, 201-A, Jalan Tun Razak, 50400 Kuala LumpurDescription of "Others" Type of Transaction
Circumstances by reason of which change has occurredAmanahRaya Trustees Berhad - Amanah Saham Bumiputera (Acquisition of 1,337,100 shares on 26 June 2020)Nature of interestDirect InterestDirect (units)3,059,117,200Direct (%)44.981Indirect/deemed interest (units)Indirect/deemed interest (%)Total no of securities after change3,059,117,200Date of notice26 Jun 2020Date notice received by Listed Issuer30 Jun 2020

Announcement Info

Company NameSIME DARBY PROPERTY BERHADStock NameSIMEPROPDate Announced30 Jun 2020CategoryChange in the Interest of Substantial Shareholder Pursuant to Section 138 of CA 2016Reference NumberCS2-30062020-00014

Posted by Good123 > 2020-07-20 14:50 | Report Abuse

epf juga sapu :) undervalued a lot Changes in Sub. S-hldr's Int (Section 138 of CA 2016)

SIME DARBY PROPERTY BERHAD

Particulars of substantial Securities Holder

NameEMPLOYEES PROVIDENT FUND BOARDAddressTingkat 19, Bangunan KWSP
Jalan Raja Laut
Kuala Lumpur
50350 Wilayah Persekutuan
Malaysia.Company No.EPF Act 1991Nationality/Country of incorporationMalaysiaDescriptions (Class)Ordinary Shares

Details of changes

NoDate of change

No of securities

Type of TransactionNature of Interest123 Jun 2020

1,220,000

AcquiredDirect InterestName of registered holderCitigroup Nominees (Tempatan) Sdn Bhd - Employees Provident Fund BoardAddress of registered holderLevel 42, Menara Citibank, 165, Jalan Ampang, 50450 Kuala LumpurDescription of "Others" Type of TransactionSBL
Circumstances by reason of which change has occurredCitigroup Nominees (Tempatan) Sdn Bhd Employees Provident Fund Board (Acquisition (SBL) of 1,220,000 shares on 23 June 2020)Nature of interestDirect InterestDirect (units)652,511,945Direct (%)9.595Indirect/deemed interest (units)22,672,400Indirect/deemed interest (%)0.333Total no of securities after change675,184,345Date of notice24 Jun 2020Date notice received by Listed Issuer26 Jun 2020


Remarks :Total no. of shares held after change are as follows: (a) Citigroup Nominees (Tempatan) Sdn Bhd Employees Provident Fund Board (652,511,945) (b) Citigroup Nominees (Tempatan) Sdn Bhd Employees Provident Fund Board (RHB INV) (2,900,000) (c) Citigroup Nominees (Tempatan) Sdn Bhd Employees Provident Fund Board (NOMURA) (15,196,500) (d) Citigroup Nominees (Tempatan) Sdn Bhd Employees Provident Fund Board (F.TEMISLAMIC) IC (1,973,800) (e) Citigroup Nominees (Tempatan) Sdn Bhd Employees Provident Fund Board (BNP NAJMAH EQ) IC (2,602,100)


Announcement Info

Company NameSIME DARBY PROPERTY BERHADStock NameSIMEPROPDate Announced26 Jun 2020CategoryChange in the Interest of Substantial Shareholder Pursuant to Section 138 of CA 2016Reference NumberCS2-26062020-00036

Posted by Good123 > 2020-07-20 14:51 | Report Abuse

ASB

Posted by Good123 > 2020-07-20 14:53 | Report Abuse

In a statement, the property developer said that a total of 740 bookings took place between March 25 and July 5,2020 from its online campaigns

PETALING JAYA: Sime Darby Property Bhdhas garnered about RM680mil of bookings for properties from its online campaign during the movement control order (MCO).

In a statement, the property developer said that a total of 740 bookings took place between March 25 and July 5,2020 from its online campaigns.

This is despite its show galleries being closed or operating at half capacity during MCO that started from March 18, as part of the country’s effort to curb the coronavirus (Covid-19) infections.

It said purchasers were mainly from within the Klang Valley and surrounding areas, and some were even from as far as China.

“Sime Darby Property’s website traffic was consistently high throughout the campaigns, averaging more than twice the usual volume, ” the company said.

Sime Darby Property group managing director Datuk Azmir Merican said the online campaigns have allowed home buyers to own prime properties with greater convenience.

“The successful online campaigns show that Sime Darby Property can embrace digitalisation and adapt to the changing operating landscape.

“Future Sime Darby Property launches will also benefit from the utilisation of online portals, now part of the digital transformation initiative aimed to revolutionise the company’s property buying process, ” he said.

Posted by Good123 > 2020-07-20 14:56 | Report Abuse

PNB pun beli. Changes in Sub. S-hldr's Int (Section 138 of CA 2016)

SIME DARBY PROPERTY BERHAD

Particulars of substantial Securities Holder

NamePERMODALAN NASIONAL BERHADAddressTingkat 4, Balai PNB
201-A, Jalan Tun Razak
Kuala Lumpur
50400 Wilayah Persekutuan
Malaysia.Company No.197801001190 (38218-X)Nationality/Country of incorporationMalaysiaDescriptions (Class)Ordinary Shares

Details of changes

NoDate of change

No of securities

Type of TransactionNature of Interest118 Jun 2020

3,000,000

AcquiredDirect InterestName of registered holderPermodalan Nasional BerhadAddress of registered holderTingkat 4, Balai PNB, 201-A, Jalan Tun Razak, 50400 Kuala LumpurDescription of "Others" Type of Transaction
Circumstances by reason of which change has occurredPermodalan Nasional Berhad (Acquisition of 3,000,000 shares on 18 June 2020)Nature of interestDirect InterestDirect (units)405,220,492Direct (%)5.958Indirect/deemed interest (units)Indirect/deemed interest (%)Total no of securities after change405,220,492Date of notice18 Jun 2020Date notice received by Listed Issuer22 Jun 2020

Announcement Info

Company NameSIME DARBY PROPERTY BERHADStock NameSIMEPROPDate Announced22 Jun 2020CategoryChange in the Interest of Substantial Shareholder Pursuant to Section 138 of CA 2016Reference NumberCS2-22062020-00006

Posted by Good123 > 2020-07-20 14:58 | Report Abuse

yayasan pelaburan bumi juga Beli Changes in Sub. S-hldr's Int (Section 138 of CA 2016)

SIME DARBY PROPERTY BERHAD

Particulars of substantial Securities Holder

NameYAYASAN PELABURAN BUMIPUTRAAddressc/o PERMODALAN NASIONAL BERHAD
TINGKAT 4, BALAI PNB
201-A, JALAN TUN RAZAK
Kuala Lumpur
50400 Wilayah Persekutuan
Malaysia.Company No.197801000107 (37113-P)Nationality/Country of incorporationMalaysiaDescriptions (Class)Ordinary Shares

Details of changes

NoDate of change

No of securities

Type of TransactionNature of Interest119 Jun 2020

2,000,000

AcquiredIndirect InterestName of registered holderPermodalan Nasional BerhadAddress of registered holderTingkat 4, Balai PNB, 201-A, Jalan Tun Razak, 50400 Kuala LumpurDescription of "Others" Type of Transaction
Circumstances by reason of which change has occurredPermodalan Nasional Berhad (Acquisition of 2,000,000 shares on 19 June 2020) Yayasan Pelaburan Bumiputra is deemed to have indirect interest in Sime Darby Property Berhad through its shareholding of 100% less one share in Permodalan Nasional Berhad by virtue of Section 8(4) of the Companies Act, 2016.Nature of interestIndirect InterestDirect (units)Direct (%)Indirect/deemed interest (units)407,220,492Indirect/deemed interest (%)5.988Total no of securities after change407,220,492Date of notice19 Jun 2020Date notice received by Listed Issuer23 Jun 2020

Announcement Info

Company NameSIME DARBY PROPERTY BERHADStock NameSIMEPROPDate Announced23 Jun 2020CategoryChange in the Interest of Substantial Shareholder Pursuant to Section 138 of CA 2016Reference NumberCS2-23062020-00009

Posted by Victor Yong > 2020-07-20 15:08 | Report Abuse

Lowest price again after MCO started in March 2020 :)

SIPR Historical Data
Time Frame:

Monthly
07/31/2018 - 07/20/2020

Date Price Open High Low Vol. Change %
Jul 20 0.640 0.675 0.720 0.635 2.81M -5.88%
Jun 20 0.680 0.675 0.770 0.660 166.85M 0.00%
May 20 0.680 0.650 0.740 0.605 132.23M 4.62%
Apr 20 0.650 0.545 0.670 0.530 160.93M 19.27%
Mar 20 0.545 0.760 0.780 0.475 108.01M -29.68%
Feb 20 0.775 0.780 0.815 0.750 82.45M -0.64%
Jan 20 0.780 0.905 0.915 0.775 66.90M -14.75%
Dec 19 0.915 0.775 0.940 0.760 157.79M 16.56%
Nov 19 0.785 0.730 0.855 0.720 525.53M 8.28%
Oct 19 0.725 0.835 0.855 0.705 176.66M -13.69%
Sep 19 0.840 0.880 0.890 0.825 93.35M -4.55%
Aug 19 0.880 0.970 0.990 0.790 114.52M -9.74%
Jul 19 0.975 1.030 1.030 0.965 49.91M -5.34%
Jun 19 1.030 1.050 1.120 1.010 57.95M -2.83%
May 19 1.060 1.100 1.140 0.955 158.47M -4.50%
Apr 19 1.110 1.090 1.180 1.070 52.78M 0.00%
Mar 19 1.110 1.050 1.130 0.980 37.27M 5.71%
Feb 19 1.050 1.160 1.210 1.050 33.22M -8.70%
Jan 19 1.150 0.980 1.200 0.945 49.93M 15.58%
Dec 18 0.995 1.000 1.100 0.905 67.23M 0.00%
Nov 18 0.995 0.975 1.060 0.950 86.23M 2.05%
Oct 18 0.975 1.170 1.180 0.910 134.62M -17.37%
Sep 18 1.180 1.240 1.260 1.160 56.00M -6.35%
Aug 18 1.260 1.340 1.400 1.200 53.08M -5.97%
Highest: 1.400 Lowest: 0.475 Difference: 0.925 Average: 0.908 Change %: -52.239

Posted by Good123 > 2020-07-20 15:11 | Report Abuse

retained earnings rm2.7bil :)

SIME DARBY PROPERTY BERHAD
Registration No: 197301002148 (15631-P)
3
Unaudited Condensed Consolidated Statement of Financial Position
Amounts in RM thousand unless otherwise stated
Note
Unaudited
As at
31 March 2020
Audited
As at
31 December 2019
Non-current assets
Property, plant and equipment 630,834 636,284
Investment properties 741,690 745,785
Inventories (note 1) 4,478,313 4,542,929
Joint ventures 2,791,078 2,805,001
Associates 140,132 139,137
Investments 57,134 58,788
Intangible assets 3,869 4,143
Deferred tax assets 579,114 579,376
Receivables 80,790 50,790
Contract assets 1,308,880 1,318,352
10,811,834 10,880,585

Current assets
Inventories (note 1) 2,053,433 1,989,843
Receivables 629,552 628,711
Contract assets 1,041,846 1,198,933
Prepayment 21,654 17,549
Tax recoverable 33,581 23,334
Cash held under Housing Development Accounts 528,722 456,706
Bank balances, deposits and cash 396,755 286,632
4,705,543 4,601,708
Total assets A7 15,517,377 15,482,293

Equity
Share capital 6,800,839 6,800,839
Fair value reserve 36,375 36,375
Exchange reserve (29,888) (11,679)
Retained profits 2,774,311 2,896,175
Attributable to owners of the Company 9,581,637 9,721,710
Non-controlling interests 211,185 228,296
Total equity 9,792,822 9,950,006

Non-current liabilities
Payables 82,105 81,375
Borrowings B8 2,336,225 2,408,140
Lease liabilities 72,992 74,042
Provisions 105,255 99,332
Contract liabilities 253,463 251,623
Deferred tax liabilities 166,543 163,713
3,016,583 3,078,225

Current liabilities
Payables 1,217,944 1,304,027
Borrowings B8 1,016,532 796,147
Lease liabilities 14,860 17,670
Provisions 72,930 76,569
Contract liabilities 136,534 100,902
Tax provision 113,155 158,747
Dividend payable 136,017 –
2,707,972 2,454,062
Total liabilities 5,724,555 5,532,287
Total equity and liabilities 15,517,377 15,482,293

Posted by Good123 > 2020-07-20 15:12 | Report Abuse

cash from operations RM 120mil , gearing only 0.26x, impressive.

SIME DARBY PROPERTY BERHAD
Registration No: 197301002148 (15631-P)

6
Unaudited Condensed Consolidated Statement of Cash Flows
Amounts in RM thousand unless otherwise stated
Quarter ended
31 March
2020 2019

Cash flow from operating activities
Profit for the period 2,060 274,322

Adjustments for:
Share of results of joint ventures and associates 11,315 (3,466)
Depreciation and amortisation 13,098 13,917
Net reversal of impairments 689 (147)
Bad debts recovered (67) –
Write-offs of property, plant and equipment 1 109
Gain on disposal (10) (203,392)
Changes in fair value of quoted investments 1,654 (245)
Provisions 5,003 –
Finance income (28,855) (30,224)
Finance costs 12,515 6,734
Tax expense 8,864 27,158
Other items (27) (11)
26,240 84,755
Changes in working capital:
- inventories 29,423 195,187
- trade, other receivables and prepayments (11,763) 8,156
- contract assets and contract liabilities 229,638 59,054
- trade, other payables and provisions (91,456) (201,287)
Cash from operations 182,082 145,865
Tax paid (61,559) (53,857)
Net cash from operating activities 120,523 92,00

Posted by Good123 > 2020-07-20 15:14 | Report Abuse

simeprop can pay dividends indefinitely with retained earnings RM2.7bil

Posted by Good123 > 2020-07-20 15:15 | Report Abuse

no wonder, EPF, ASB, PNB, etc continue to sapu its shares

Posted by Good123 > 2020-07-20 15:24 | Report Abuse

Government Introduces Incentives For Automotive And Housing Markets

byAlex Cheong

5th June 2020

2 minute read



In an effort to stimulate consumer sentiment in the automotive and housing market, the government will be providing tax exemptions and financial incentives for both sectors. This was announced by Prime Minister Tan Sri Muhyiddin Yassin during the reveal of the PENJANA Economic Recovery Plan.

Malaysians will be given 100% sales tax exemption for the purchase of locally assembled cars, starting from June until 31 December 2020. Alternatively, you can enjoy a 50% sales tax exemption if you purchase an imported car instead.

Meanwhile, the housing market will see a few initiatives carried out to reinvigorate the industry. Firstly, the government will reintroduce the Home Ownership Campaign, which previously ran throughout 2019 to support home buyers looking to purchase properties. Through this campaign, Malaysians will be exempted from paying the stamp duty for land title transfers and loan agreements if they are purchasing homes valued between RM300,000 to RM2.5 million.



The stamp duty exemption for land title transfers will be limited to the first RM1 million of the value of the property, whereas full exemption is given for loan agreements. This initiative is applicable for purchase agreements signed between 1 June 2020 to 31 May 2021, subject to a rebate of at least 10% from the developers.

Secondly, Malaysians taking on a third home loan will not be subject to the financing limit of 70% of the value of the property (valued at RM600,000 and above) during the period of the Home Ownership campaign. Instead, it is subject to the internal risk management practices of the financial institution offering the loan.

Lastly, real property gains tax (RGPT) is also exempted for Malaysians who wish to sell their residential properties between 1 June 2020 to 31 December 2021. That said, this is limited only to three residential properties per individual.

Posted by Good123 > 2020-07-20 15:30 | Report Abuse

PETALING JAYA (June 23): Phase 1 and 2 at Elmina Green Three — the latest offering of two-storey houses in Sime Darby Property Bhd’s City of Elmina — have seen a take-up rate of more than 85% during its two recent online preview sessions.

During the online preview for Phase 1 on June 6, all 91 units were snapped up. Subsequently in the online preview for Phase 2 on June 20, the developer put up 127 units and some 76% have since been booked. These units are priced from RM709,999 and RM714,499 for Phase 1 and 2 respectively after rebates and before the Bumiputra discount.

Sime Darby Property chief operating officer (Township Development) Datuk Wan Hashimi Albakri said the response to Elmina Green Three was overwhelming.  

“We were astounded that it took about 15 minutes for all Phase 1 units to be reserved. Phase 2 public preview last weekend also drew good results with 96 out of 127 units booked,” he said in a press release recently.

“The reception towards Elmina Green Three has given us a sense of comfort in knowing that despite the current period of uncertainty, people are still interested in purchasing a property. The success of our previews demonstrates that with the right marketing strategy and better products, customers will continue to show support.”



Elmina Green Three comprises a total of 412 units. The typical land size for these two-storey homes is 20ft by 80ft, while its built-ups are from 2,262 to 2,983 sq ft. This development comes with an improved interior finishing, and potential homeowners will have a hassle-free move-in experience with FittingsPlus features such as instant water heaters, outdoor water filter, air conditioning unit points and piping (without indoor unit), booster pump and built-in MS Grilles. 

Besides potential homeowners from Malaysia, both previews also received great interest from those currently residing in Hong Kong, Singapore, Brunei and the United Kingdom. Wan Hashimi believes that the consistent strong brand of City of Elmina is able to attract new prospects and returning customers who are looking for a modern wellness living.  

Prior to the launch of Elmina Green Three, there was an increase in the company’s website traffic, with enquiries and bookings for available Sime Darby Property projects.

“The use of an online portal for bookings was a digital transformation initiative aimed to revolutionise the company’s property buying process… future Sime Darby Property launches will also utilise and benefit from the system,” said Wan Hashimi.

Posted by Good123 > 2020-07-20 15:31 | Report Abuse

“Sime Darby Property remains our top pick, given its solid balance sheet, strategic land bank located in close proximity to key infrastructure projects, and large land bank to cater for future demand, ” CGS-CIMB Research said in its report.

KUALA LUMPUR: CGS-CIMB Equities Research retained its Neutral oulook on the property sector due to the weak macro outlook, affordability issues and likely lower property sales.

It said on Thursday it retained its neutral outlook even though the KL Property Index was trading at 0.4 times price-to-book value (P/BV), which is two standard deviation below its historical 10-year P/BV of 0.75 times.

“Sime Darby Property remains our top pick, given its solid balance sheet, strategic land bank located in close proximity to key infrastructure projects, and large land bank to cater for future demand. Key sector upside risk is stronger-than-expected new sales, while key downside risk is a weaker macro outlook, ” it said in its report.

To recap, CGS-CIMB Research had on Tuesday hosted the president of Real Estate and Housing Developers’ Association Malaysia (Rehda) Datuk Soam Heng Choon at its virtual webinar themed “The New Normal for Construction and Property Development – What to expect?”

Soam shared his views on the overall property market outlook post the movement control order (MCO). He said the implementation of the MCO halted all construction progress during Phase 1 and Phase 2 of the MCO, which could hit developers’ progressive billings.

Currently, only c.25-30% of the construction sites have resumed work and workforce remains restricted to only 50% of the original number, as instructed by the Ministry of International Trade and Industry (MITI).

The low number of sites resuming operations is likely due to compulsory Covid-19 testing for foreign workers, and developers could face delays of up to 1-2 months. About 160 housing projects that are slated to be completed or handed over by September 2020 could face delays.

“We gather the reintroduction of the Home Ownership Campaign (HOC) is top on developers’ wish list, where a stamp duty waiver from the government could lower home buyers’ cost and spur demand, ” it said.

Soam revealed that HOC 2019 recorded new property sales of RM43bil (before discount) or RM37bil (after discount), for properties priced above RM300,000.

Due to the weak economic outlook and potentially higher unemployment rate, he said the HOC 2020 sales target is likely to be 50%-60% of HOC 2019’s sales. With HOC making a comeback, some developers launched new projects over the last weekend to take advantage of the positive news flow.

“Rehda is likely to propose the following measures to the government to stimulate the property sector: (i) faster implementation of rent-to-own (RTO) scheme and controlled version of Developer Interest Bearing Scheme (DIBS) to reduce buyers’ upfront costs; (ii) lowering or abolition of unnecessary charges and requirements imposed by the government to reduce business costs; (iii) developers to pay contribution to government for taking over low-cost housing projects; and (iv) allowing developers to rescind sales and purchase agreements with buyers if the take-up rate of a project is less than 50%, ” it said.

Soam expects property prices to stay stable during the six-month loan moratorium period, but outlook could be challenging post loan moratorium in October.

“We gather the next hot spots for development could be the west and south parts of Kuala Lumpur, leveraging on key infrastructure projects such as the East Coast Rail Link (ECRL), Malaysia Vision Valley (MVV) 2.0 and High Speed Rail (HSR).

“The government is currently working on a Housing Integrated System (HIS) and expects to roll out the database in 1-2 years. This comprehensive database could serve as a reference for future housing policy direction and address the mismatch between supply and demand, ” CGS-CIMB Research said.

Posted by Good123 > 2020-07-21 09:00 | Report Abuse

(July 21): Asian stocks looked set to climb after a technology-fueled rally lifted their U.S. counterparts to the highest since February. The dollar weakened to an almost six-week low.

Posted by James Ng > 2020-07-24 09:47 | Report Abuse

https://klse.i3investor.com/blogs/general/2020-07-24-story-h1510719612.jsp
[转贴] [SIME DARBY PROPERTY BERHAD：未开单销售保持在健康的15亿令吉，并有针对性地计划推出新产品。该公司的银行存款余额也达9.255亿令吉，而来自营运的可观现金流为1.205亿令吉] - James的股票投资James Share Investing

Posted by Jeffreyteck > 2020-07-25 16:05 | Report Abuse

4300 million loans, believe is among the top borrowers. Well done. Looks attractive with current price.

Posted by warchest > 2020-07-26 13:33 | Report Abuse

https://klse.i3investor.com/blogs/TimelessInvestment/2020-07-26-story-h1510727205-Eco_World_International_EWINT_The_Rise_of_Build_to_Rent_BTR.jsp

Posted by warchest > 2020-07-26 13:34 | Report Abuse

My new post on Build-to-Rent (BTR) model and how it could become the growth story for Ecoworld International for someone that want to diversify into overseas properties. Happy weekend guys

Posted by warchest > 2020-07-26 13:34 | Report Abuse

https://klse.i3investor.com/blogs/TimelessInvestment/2020-07-26-story-h1510727205-Eco_World_International_EWINT_The_Rise_of_Build_to_Rent_BTR.jsp

Posted by Good123 > 2020-08-06 15:37 | Report Abuse



CGS-CIMB Research said SDP launched a marketing campaign dubbed Spotlight 8, which will feature deals and new launches every weekend throughout the campaign period (July 18 to Sept 27).

KUALA LUMPUR: CGS-CIMB Equities Research remains positive on Sime Darby Property (SDP) and is maintaining its target price (TP) of 85 sen due to its solid balance sheet and strategic land bank.

It said yesterday its TP of 85 sen is based on 0.6 times financial year 2021 (FY21) price-to-book value (P/BV) (standard deviation from its three-year mean P/BV).

“We remain positive on SDP given:

> Its solid balance sheet, with a lower net gearing level of 0.25x vs peers’ 0.3 times;

> Its strategic land banks located in close proximity to the East Coast Rail Link (ECRL) and Malaysia Vision Valley (MVV) 2.0 in Negri Sembilan; and

> Its massive land bank to cater to future demand, ” it said.

CGS-CIMB Research said SDP launched a marketing campaign dubbed Spotlight 8, which will feature deals and new launches every weekend throughout the campaign period (July 18 to Sept 27).

“We gather that the group’s various online campaigns from March 25 to July 5,2020 have secured more than 740 bookings worth RM680mil, ” it said.

To recap, SDP’s 2019 Spotlight 8 campaign from July 13,2019 to Sept 29,2019 registered more than RM1.1bil of new property sales, with a total of 1,160 units sold.

The campaign kickstarted with new launches at City of Elmina (Elmina Green Three extended link homes) on July 18, with 100% of Phase 1 homes taken up during the pre-launch sales on June 6 and 76% of Phase 2 previews taken up in less than half an hour on June 20.

Throughout the campaign period, SDP will be showcasing new projects and offering weekend deals at City of Elmina, Bandar Bukit Raja, KLGCC Resort, KL East, Serenia City, Subang Jaya City Centre, Melawati, Bandar Ainsdale, and Putra Heights.

“We observe that developers are generally dishing out more rebates and launching more landed homes to boost new property sales. Year to date, we gather that SDP has launched projects worth RM600mil in gross development value, with the remaining planned launches worth RM800mil-RM1bil.“We gather that SDP is taking care of mortgage instalments for at least three months upfront, on top of existing rebates, for limited units of participating projects, to ease the burden of home ownership.

“We view this free instalment offer as a modified version of the Developer Interest Bearing Scheme, which was terminated in Budget 2014.

“We think these financing aids could boost demand for properties in the short term but could also put developers’ balance sheets under stress due to lower margins.

“We are not overly concerned as SDP’s net gearing is at the lower end of its peers’ range and most of its launches are landed properties, which sell faster, ” it said

Posted by Good123 > 2020-08-06 15:51 | Report Abuse

satisfactory Q2 is expected :) Other property companies have also reported good sales after a slow Januarty to March quarter.

In a July 17, statement, Sime Darby Property Bhd said its various online campaigns from March 25 to July 5, garnered more than 740 property bookings within the Greater Klang Valley and Johor worth about RM680mil.

Posted by Good123 > 2020-08-06 15:54 | Report Abuse

Sime Darby Property Bhd has reported that Phase 1 of Elmina Green Three located within its City of Elmina in Shah Alam has been fully taken up and 65 units of Phase 2 have been sold. The Elmina Green Three project was first previewed in early June 2020, comprising a total of 218 units for Phase 1 and 109 units for Phase 2. (The Edge)

Posted by Victor Yong > 2020-08-06 15:57 | Report Abuse

Ya, otw

Date Close Volume
05/08/2020 0.63 2,551,500
04/08/2020 0.63 3,711,400
03/08/2020 0.63 6,912,100
30/07/2020 0.625 7,232,200
29/07/2020 0.625 941,300
28/07/2020 0.63 5,085,100
27/07/2020 0.615 2,362,300
24/07/2020 0.63 5,019,700
23/07/2020 0.64 2,151,000
22/07/2020 0.64 2,191,700
21/07/2020 0.66 5,479,500
20/07/2020 0.635 6,217,200
17/07/2020 0.64 2,805,800
16/07/2020 0.635 5,305,000
15/07/2020 0.66 11,537,800
14/07/2020 0.675 692,900
13/07/2020 0.67 2,803,600
10/07/2020 0.69 583,000
09/07/2020 0.705 860,400

Posted by Good123 > 2020-08-06 16:19 | Report Abuse

simep is the lowest gearing prop development co probably

Posted by Good123 > 2020-08-06 16:20 | Report Abuse

a penny stock but part of sime Darby group . should as gold

Posted by Good123 > 2020-08-06 17:24 | Report Abuse

cyclical play on property stocks could be coming :)

Post-Movement Control Order (MCO), the residential market is expected to see a slow uptick, supported by various stimulus provided by the government, especially the reintroduction of the Home Ownership Campaign (HOC), according to Knight Frank Malaysia managing director Sarkunan Subramaniam.  In a July 13 statement in conjunction with the launch of the Malaysia Real Estate Highlights for 1H2020 bi-­annual report, he said, “The reintroduction of the HOC, which features stamp duty exemptions and the lifting of the margin of financing limit for the third housing loan onwards for property valued at RM600,000 [and above], as well as real property gains tax exemption unveiled in the short-term Economic Recovery Plan (Penjana) will help stimulate the market.”

In addition, Bank Negara Malaysia cut the overnight policy rate (OPR) for the third time during the review period by a further 25 basis points to 1.75% this month to help lower the monthly repayment sum, which, coupled with the automatic loan moratorium for six months from April 1, will provide some relief to households amid the current crisis, he added.

“Also, with a lower monthly repayment sum, borrowers who failed to obtain a loan due to the restriction of the one-third debt service ratio rule may now have higher chances of securing financing,” he said.

Posted by Good123 > 2020-08-06 17:40 | Report Abuse

Setiap suku tak pernah rugi, tak pernah Minta Wang melalui right issue Dan tak pernah gagal membayar Dividen

Posted by Good123 > 2020-08-06 17:41 | Report Abuse

jenama sime properties juga baik. dipercayai ramai orang

Posted by Good123 > 2020-08-06 17:45 | Report Abuse

pernah rugi cuma satu suku tapi tahun itu secara keseluruhan Masih untung

Posted by Good123 > 2020-08-06 18:43 | Report Abuse

one of the best increase in cash and cash equivalents

SIME DARBY PROPERTY BERHAD
Registration No: 197301002148 (15631-P)

7
Unaudited Condensed Consolidated Statement of Cash Flows (continued)
Amounts in RM thousand unless otherwise stated
Quarter ended
31 March
2020 2019


Net changes in cash and cash equivalents 185,906 72,565
Foreign exchange differences (3,767) (378)
Cash and cash equivalents at beginning of the period 743,338 649,090
Cash and cash equivalents at end of the period 925,477 721,277

For the purpose of the Statement of Cash Flows, cash and cash
equivalents comprised the following:
Cash held under Housing Development Accounts 396,755 362,746
Bank balances, deposits and cash 528,722 358,531
925,477 721,277

Posted by Good123 > 2020-08-06 18:45 | Report Abuse

simeprop could give a surprise with the monetisation of low-yielding and non-core assets

Posted by Good123 > 2020-08-06 18:47 | Report Abuse

Also, remember the management’s efforts to expand its recurring income base through the development of built-to-suit industrial space, which is less competitive compared with other commercial sub-sectors such as retail and office space.

Posted by Good123 > 2020-08-06 18:48 | Report Abuse

the group’s focus to adopt an active land bank management practice, given its sizeable undeveloped land bank.

It will enhance the role as a master developer for faster turnarounds of future developable land bank of about 8,400 acres (3,399ha).

In addition, the group plans to expedite the disposal of several non-strategic land parcels, in line with its asset monetisation initiatives.

Posted by Good123 > 2020-08-06 18:50 | Report Abuse

The group will continue to unlock the value of its non-core assets, and reinvest and expand its recurring income asset portfolio, particularly managed industrial parks.

Capitalising on strong demand for industrial properties, the management has identified strategic locations for industrial developments within the group’s key townships, such as Bandar Bukit Raja in Klang, Serenia City in Sepang and Nilai, Negeri Sembilan.

Over the long term, the reinstatement of the East Coast Rail Link and potential revival of Kuala Lumpur-Singapore high-speed rail (HSR) would also benefit Sime Darby Property’s land bank near/along the proposed stations of the rail alignment.

Posted by Good123 > 2020-08-06 18:51 | Report Abuse

Sime Darby Property currently owns about 2,838 acres of land within MVV. The group will have access to a further 8,793 acres of land via the MVV option agreement with Sime Darby Bhd.

Being a master developer of MVV, the management is accessing various options to develop the land, including looking for joint-venture partners and/or developing the land on its own gradually.

Should the HSR being revived, we believe MVV would return to the radar of local and foreign investors.

Posted by Good123 > 2020-08-06 18:53 | Report Abuse

baguslah, buatlah segera, bagi 90sen special dividen macam Airasia selepas jualan kapal terbang. TQ.


the monetisation of low-yielding and non-core assets is also on track.

Posted by Good123 > 2020-08-06 18:55 | Report Abuse

NAV ~RM1.41, share price only 62.5sen. pls sell half the net assets and return to the shareholders asap, say, say, special dividend.


the monetisation of low-yielding and non-core assets is also on track.