Highlights
KLSE : SYMLIFE       SYMPHONY LIFE BERHAD
Last Price Today's Change   Day's Range   Trading Volume
1.16   +0.09 (8.41%)  1.05 - 1.17  7,598,600

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

  anthonylow likes this.
 
Joel 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.
19/04/2014 14:59
Joel 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.
19/04/2014 15:00
Joel 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.
19/04/2014 15:00
Joel 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.
19/04/2014 15:01
tonylim Bones what about star residence in Jan yap kwan seng. They sold off the land?
19/04/2014 15:20
Joel Buy in b4 go to the next higher price by Monday next week !
19/04/2014 15:22
Joel Short-term TP rm1.35.
2 - 3 months TP rm1.80 above.
19/04/2014 15:23
kytan 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
19/04/2014 15:26
Jack Ong Lol .. We all ride the same boat .. Cheers .. :D
19/04/2014 15:45
TomnJerry888 Tonylim still taking free?
19/04/2014 16:16


 

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