Highlights
KLSE : SYMLIFE       SYMPHONY LIFE BERHAD
Last Price Today's Change   Day's Range   Trading Volume
0.845   -0.015 (1.74%)  0.845 - 0.855  58,900

Change in Shareholding (Director)

Date Name Remark
02/12/2013 Wing Kwong @ Chan Wing Kwong Disposed in the open market
12/11/2013 Dato' Robert Teo Keng Tuan 1) The 500,000 free warrants were issued to him by Symphony Life Berhad (formerly known as Bolton Berhad) as Director of the Company. 2) Deemed interested by virtue of Section 6A of the Companies Act, 1965 for 2,756 warrants held by BHP Corp. Sdn. Bhd.
12/11/2013 Wing Kwong @ Chan Wing Kwong 1) The 720,053 warrants were issued by Symphony Life Berhad (formerly known as Bolton Berhad) ("SymLife") on the basis of one (1) warrant for every four (4) existing ordinary shares of RM1.00 each held in SymLife by the entitled shareholders on 7 November 2013, which includes 500,000 free warrants issued to him as Director of SymLife. 2) Deemed interested by virtue of Section 134(12)(c) of the Companies Act, 1965 for 30,236 warrants held by his spouse.
12/11/2013 Chin Jit Pyng 1) The 3,642,567 warrants were issued by Symphony Life Berhad (formerly known as Bolton Berhad) ("SymLife") on the basis of one (1) warrant for every four (4) existing ordinary shares of RM1.00 each held in SymLife by the entitled shareholders on 7 November 2013, which includes 500,000 free warrants issued to him as Director of SymLife. 2) Deemed interested by virtue of Section 6A of the Companies Act, 1965 for 2,205,000 warrants held by Billion Inspiration Sdn. Bhd.
12/11/2013 Tan Sri Mohamed Azman bin Yahya 1) The 17,178,749 warrants were issued by Symphony Life Berhad (formerly known as Bolton Berhad) ("SymLife") on the basis of one (1) warrant for every four (4) existing ordinary shares of RM1.00 each held in SymLife by the entitled shareholders on 7 November 2013, which includes 15,000,000 free warrants issued to him as Director of SymLife. 2) Deemed interested by virtue of Section 6A of the Companies Act, 1965 for 15,041,250 warrants held by Gajahrimau Capital Sdn. Bhd.
12/11/2013 Tan Sri Nik Mohamed bin Nik Yaacob The 500,000 free warrants were issued to him by Symphony Life Berhad (formerly known as Bolton Berhad) as Director of the Company.
12/11/2013 Lee Siew Choong The 500,000 free warrants were issued to him by Symphony Life Berhad (formerly known as Bolton Berhad) as Director of the Company.
30/10/2013 Tan Sri Mohamed Azman bin Yahya Distribution of share dividend on the basis of one (1) treasury share for every twenty (20) ordinary shares of RM1.00 each held in the Company.
30/10/2013 Chin Jit Pyng Distribution of share dividend on the basis of one (1) treasury share for every twenty (20) ordinary shares of RM1.00 each held in the Company.
30/10/2013 Wing Kwong @ Chan Wing Kwong Distribution of share dividend on the basis of one (1) treasury share for every twenty (20) ordinary shares of RM1.00 each held in the Company.
30/10/2013 Dato' Robert Teo Keng Tuan Distribution of share dividend on the basis of one (1) treasury share for every twenty (20) ordinary shares of RM1.00 each held in the Company.
31/07/2013 Tan Sri Mohamed Azman bin Yahya Acquired through open market
30/07/2013 Tan Sri Mohamed Azman bin Yahya Acquired through open market
29/07/2013 Tan Sri Mohamed Azman bin Yahya Acquired through open market
15/07/2013 Wing Kwong @ Chan Wing Kwong Disposed in the open market
23/07/2012 Chin Jit Pyng Distribution of share dividend on the basis of one (1) treasury share for every twenty (20) ordinary shares of RM1.00 each held in the Company.
23/07/2012 Wing Kwong @ Chan Wing Kwong Distribution of share dividend on the basis of one (1) treasury share for every twenty (20) ordinary shares of RM1.00 each held in the Company.
23/07/2012 Dato' Robert Teo Keng Tuan Distribution of share dividend on the basis of one (1) treasury share for every twenty (20) ordinary shares of RM1.00 each held in the Company.
23/07/2012 Tan Sri Mohamed Azman bin Yahya Distribution of share dividend on the basis of one (1) treasury share for every twenty (20) ordinary shares of RM1.00 each held in the Company.
02/07/2012 Wing Kwong @ Chan Wing Kwong Acquired in the open market
11/10/2011 Chin Jit Pyng Acquired in the open market
29/09/2011 Wing Kwong @ Chan Wing Kwong Acquired in the open market
28/09/2011 Wing Kwong @ Chan Wing Kwong Acquired in the open market
07/07/2011 Chin Jit Pyng Acquired via direct business transaction
06/07/2011 Wing Kwong @ Chan Wing Kwong Acquired via direct business transaction
06/07/2011 Datuk Mohamed Azman bin Yahya Acquired via direct business transaction
27/06/2011 Wing Kwong @ Chan Wing Kwong Acquired in the open market
18/04/2011 Datuk Mohamed Azman bin Yahya Acquired in the open market
22/07/2010 Wing Kwong @ Chan Wing Kwong Disposed in the open market
29/06/2010 Wing Kwong @ Chan Wing Kwong Acquired in the open market
20/04/2010 Wing Kwong @ Chan Wing Kwong Acquired in the open market
19/03/2010 Wing Kwong @ Chan Wing Kwong Acquired in the open market
10/03/2010 Wing Kwong @ Chan Wing Kwong Acquired in the open market
06/03/2009 Dato' Mohamed Azman bin Yahya Acquired via direct business transaction
10/02/2009 Wing Kwong @ Chan Wing Kwong Acquired through open market
15/07/2008 Wing Kwong @ Chan Wing Kwong Acquired through open market
02/07/2008 Wing Kwong @ Chan Wing Kwong Acquired through open market
30/06/2008 Wing Kwong @ Chan Wing Kwong Acquired through open market
24/06/2008 Wing Kwong @ Chan Wing Kwong Acquired through open market
18/03/2008 Wing Kwong @ Chan Wing Kwong Acquired through open market
11/03/2008 Wing Kwong @ Chan Wing Kwong Acquired through open market
05/03/2008 Wing Kwong @ Chan Wing Kwong Acquired through open market
29/01/2008 Wing Kwong @ Chan Wing Kwong Disposed through open market
24/01/2008 Wing Kwong @ Chan Wing Kwong Disposed in the open market
28/09/2007 Dato' Mohamed Azman bin Yahya Direct business transactions through stockbroker
20/07/2007 Dato' Mohamed Azman bin Yahya Direct business transaction through a stockbroker.
18/04/2007 Lim Yen Haat Disposed in the open market
27/03/2007 Lim Yen Haat Disposed in the open market
15/03/2007 Tan Sri Dato' Lim Yan Hai Direct deals through stockbrokers
15/03/2007 Dato' Mohamed Azman bin Yahya 400,000 shares purchased through open market and balance purchases via direct business transactions

  5 people like this.
 
nemesis though i am also shareholder of symlife i am pessimistic about property sector due to the crash of oil price...BUT if u talk about value then symlife fits in but not their earnings....
10/01/2015 00:47
kancs3118 Whoever that buys SymLife at RM0.84 is literally buying gold. Applying BenGraham’s net asset valuation method (the lowest form of valuation) assuming if the company is liquidated tomorrow and the assets go on immediate fire sale. Hence, we assigned a huge discount to some of the assets when computing the book value of assets backing per share.

Fixed assets:
Freehold land: RM526K
Leasehold land: RM14,235K
Land held for property development: RM202,496K
Investment properties: RM9,030K

Current assets:
Other receivables
(RM51,541K x 70%) RM36,078K
Property development costs
(RM369,807K x 70%) RM258,864K
Inventories
(RM6,305K x 50%) RM3,152K
Trade & other receivables
(RM150,269K x 70%) RM105,188
Cash and bank RM107,351K

Less: total liabilities: (RM448,142K)
Total net assets RM288,778K
Net assets backing per share RM0.93
Assigning a 10% margin of safety (RM0.09)
Current share price RM0.84

Apart from paying RM0.84, what are the investors getting free of charge???

Here, we have not yet even factored in:
- the revaluation gain for the 419 acres of Sungai Long land (conservatively priced at RM80 per square feet) and the 29.2 acres of land at Puchong (conservatively priced at RM150 per square feet).
- the profit contribution coming in from The STar residences, TWY Mont' Kiara, Desiran Bayu and Tijani Raja Dewa (although this project may be affected by the major flood in Northern Malaysia). The profits are expected to come online later in FY2015 (watch out for Q3/Q4'15 quarterly results).

http://klse.i3investor.com/servlets/cube/post/james70.jsp
http://klse.i3investor.com/servlets/cube/post/james70.jsp?fp=2
11/01/2015 20:04
kancs3118 @ nemesis,
I agree with you that 2015 will be a pretty rough year for SymLife's sales because most of its product offerings are targeted at the high end market segment. This is what i found out: (from Q2'15 results + other medias).

Elevia Residences: GDV RM120.0M - take up rate 60%
Star Residences Phase 1: Take up rate 80.0%. (unknown GDV attributable to SymLife since this is a JV with UDALand).
I believe these two projects would add significantly to the unbilled sales from Q3'15 and beyond.

Desiran Bayu Klang Valley GDV RM80.0M - no worries about this take up rate - since all the construction costs/ property development expenses would be recognised in the accounts already because this is a Build, then sell concept and sales revenue will be recognized later (subsequent to the cost).

The rest which is a question mark???
TWY Mount Kiara: GDV RM400.0M - take up rate Unknown
Tijani Raja Dewa: GDV RM160.0M - pretty bad news here as the flood has badly affected Kota Bharu
12/01/2015 11:01
JN88 After apartment. soho, sovo and so so so what next??? Rumah teres?? Yup rumah teres will still the first choose for Malaysian....
12/01/2015 13:10
kancs3118 Hi JN88, if Symlife gonna build double storey terrace house (at RM550K) at their Sungai Long land - it will be fully snapped up despite this weak market. Hahaha
12/01/2015 13:35
JN88 RM550K???I sapu semua (just kidding sapu one pun susah)...hahaha... double storey terrance house at least rm700-rm800 k lo...High quality one maybe more than 1 M..
12/01/2015 13:47
kancs3118 don't forget the land bought for Sungai Long at SymLife's books are dirt cheap. They can easily do charity by selling double storey terrace houses at Sungai Long at RM550K.

come and think of it - many people are concerned about whether property developers can survive this soft market.... but then, the way i think of it - Symlife's balance sheet is strong (based on the BenGraham net assets valuation performed). And then, the lands that they carry in their balance sheet are very cheap - assuming if management are the laid back type of people - they just need to break even quarter in and quarter out. Based on Q2'15, sales revenue of RM50K per quarter is enough to break even liaw. Furthermore, management has not yet even start to tap into the potential of Sungai Long. They kind of enjoy entering into JVs with other developers and working on miscellaneous projects.

Based on this reasoning, to me, SymLife should be able to survive this storm.

Differences in ideas are welcomed.
12/01/2015 17:32
kancs3118 What if someone is unfortunate to buy before the market experienced a steep correction in Q4'14? The question now is whether RM1.20 is considered expensive for SymLife?

The net assets per share (based on net net Ben Graham valuation method) is RM0.93.
Assuming if someone privatized SymLife by paying RM1.20.
He is paying RM83.7M in terms of goodwill on business acquisition (RM0.27 x 310.0M)

Is this way too much to pay? To put things into perspective: Based onhttp://klse.i3investor.com/servlets/cube/post/james70.jsp

The 29.2 acres of Puchong land is valued at RM189.4M (RM150 psqf [being conservative instead of using RM170 psqf ~ this is what MahSing paid) x 43560 x 29.2 acres]
This land is carried at SymLife's books at RM33.9M
Revaluation gain: RM155.5M
Goodwill on acquisition as a percentage of the revaluation gain = 53.8%

What does this mean?
By paying RM1.20, the acquirer is obtaining all of the net assets of SymLife and is paying only for half of the market price of the Puchong land.

In addition, this is what he got away for free:
- the revaluation gain for the 419 acres of Sungai Long land (conservatively priced at RM80 per square feet).
- the profit contribution coming in from The STar residences, TWY Mont' Kiara, Desiran Bayu and Tijani Raja Dewa (although this project may be affected by the major flood in Northern Malaysia). The profits are expected to come online later in FY2015 (watch out for Q3/Q4'15 quarterly results).

At RM1.20, this is literally a daylight robbery. What is essentially a daylight robbery (at RM1.20) transpires into a daylight murder (at RM0.84).

I believe that as management continues to monetise those lands and stop screwing up (such as some projects got delayed resulting in Q2'15 operating profit to drop by 50.0%), Symlife has a fair chance to shoot until RM2.00. This RM2.00 is obtained by way of a very, very conservative RNAV approach.

I agree - execution is key. Symlife needs to polish on their execution in monetising their landbanks. The quality of their execution needs to reach the level of Tambun Indah.

Anyway, patience is a virtue.
13/01/2015 19:12
JN88 Terrance house very hot now..hopefully symlife turn their head to this type of product...
20/01/2015 09:25
kancs3118 Regardless of whether it is terrace houses, bungalows, semi-detached, villas, condos or shoe boxes in the sky, this coming Quarter result is very important ~! Without the once off gain arising from disposal of CESP, last quarter was in the red due to the delays in launching several projects. The gain from the disposal is used to pare down bank borrowings and its trade payables. SymLife has got alot of potential - let us hope this kid will grow up uccessful one day and not end up as a junkie on the roadside.
25/01/2015 18:09


 

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