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KLSE: SIMEPROP       SIME DARBY PROPERTY BERHAD
Last Price Avg Target Price   Upside/Downside Price Call
1.10 1.36     +0.26 (23.64%)
* Average Target Price, Price Call and Upside/Downside are derived from Price Targets in the past 6 months.
** Price Targets are adjusted for Bonus Issue, Shares Split & Shares Consolidation (where applicable).
Date Open Price Target Price Upside/Downside Price Call Source News
04/01/2019 0.955 1.08 +0.125 (13.09%) HOLD AmInvest Price Target News
29/11/2018 0.96 1.10 +0.14 (14.58%) BUY KENANGA Price Target News
28/11/2018 0.975 1.10 +0.125 (12.82%) BUY KENANGA Price Target News
29/08/2018 1.21 1.90 +0.69 (57.02%) BUY PUBLIC BANK Price Target News


Price Target Research Article/News (past 6 months)
04/01/2019  AmInvest Sime Darby Property - Stable outlook for prime township builder
29/11/2018  KENANGA Sime Darby Property - Clearing Inventories
28/11/2018  KENANGA Sime Darby Property - Sales Did Well, But Earnings Misses
29/08/2018  PUBLIC BANK Sime Darby Property - Below Expectations



  liverpool82 likes this.
 
tikuj the star headline: Sime Darby Property to lower prices of unsold units

Read more at https://www.thestar.com.my/business/business-news/2018/11/27/sime-darby-property-to-reduce-prices-of-unsold-units/#QRMRR14qipQ3qd3C.99
28/11/2018 08:08
Dakewlest Any window dressing expected for this stock, like last year??
02/12/2018 18:13
Friendship I notice that EPF, PNB and other mega size GLCs have been collecting at this low prices. I think we just follow buy and keep for couple of months I believe price can go up towards its fair value of RM2.00!
03/12/2018 11:42
Dakewlest ASB always buy this stock...
03/12/2018 18:10
Dakewlest ASB bought again
07/12/2018 18:20
jnal 30Nov2018-BlackRock already pum in 3.68M..
08/12/2018 13:16
commonsense I think the main issue of the company is its valuation. 9m18 PATAMI is only RM110mil. Even if they managed to end FY18 result with a profit of RM200mil (4Q profit need to be around RM90mil more than triple that of the most recent quarter), at the current share price the company is still valued at 35x PE. At this valuation, investors would normally asked for higher sustainable profit growth ( and not declining profit as what Sime Property is facing).

The management strategy to hold off or slow down new launches and focusing on clearing existing high inventory level (4,469 unsold units) by lowering the selling price and intensifying the marketing promotion is logical. However i am worried of the side effects of this strategy such as the compression of profit margin. That being said, if the volume is high enough and can spur profit growth, it will still be a positive thing for investors.

The other negative side effect is on the future perception of Sime Darby projects going forward. Imagine you are one of the earliest buyer of its project. You paid RM800k for your unit. After 2 years holding to your property you would have thought that the property price would have increase or at least remain the same. But now suddenly the unsold property next to your unit is currently being sold at RM750k (since Sime Property is giving discounts). You would be quite devastated to learn this. If Sime Property starts giving off discounts to most of its unsold property, in the future, instead of buying or booking units for newly launch property, people would just wait for Sime to start lowering their prices later. This has a longer term effects on the companies appeal to the market in the future. Which in the end will effect the profit margin and growth.

I think if you are interested in investing in the property industry stocks, you can actually find a lot of other companies that currently trades at lower valuation, in most cases below 10x PE and below 1x BV. There are even certain companies that can actually provide profit growth for FY19.

If you are already invested, better diversify your position a bit given that the current high valuation that the company is trading at. If the company fails to record meaningful growth in FY19, most investors would most probably shift some of their portfolios to other companies.

For those looking to divest some of their portfolio outside of the Property industry, I would recommend them to look at MBMR (https://klse.i3investor.com/servlets/stk/pt/5983.jsp).

The company is a direct proxy to Perodua via its 22.6% interest in the company. Valuation is cheap at only 6.0x PE (based on target FY18 PATAMI of RM145mil. 9m PATAMI is already RM106mil). PB is low at only 0.5x BV. 4Q18 results is expected to be higher than 3Q18 and last year 4Q17. And FY19 growth will be driven by the still high demand of new Myvi and the launch of the new SUV in 1Q19.

Please go through the analyst reports (https://klse.i3investor.com/servlets/stk/pt/5983.jsp) and do your own analysis before making any decisions.

Hope Sime Property can proof me wrong and deliver the profit growth that the investors are hoping for.

Good luck.
10/12/2018 09:20
Friendship Profit fell short but sales in line
SDPR’s 15MFY12/18 net profit of MYR629m was below our expectation.
Note that SDPR has changed its financial year end to Dec (from June;
18M for FY18). July-Sep 2018 property sales of MYR712m were however
in line. We lower our earnings forecasts by -19% to -31% and our RNAV-TP
to MYR1.25 (-27sen) on a lower 0.45x P/RNAV peg, which is in line with
another government-linked developer, UEMS. Maintain BUY.
10/12/2018 17:18
Friendship Value Proposition
 One of the largest developers and land sellers in Malaysia.
 It has a total remaining landbank of 20,572 acres
throughout Malaysia. The bulk of it is located in the Klang
Valley (the main property market) followed by Negeri
Sembilan, Johor and elsewhere in Malaysia.
 Focus is on township development. Its low land cost
provides some product and pricing flexibilities.
 Over the last few years, earnings were boosted by land/
asset sales, hence, the volatility in profit margin.
 Strong backing from Permodalan Nasional Bhd (PNB).
10/12/2018 17:21
Friendship Volatile earnings trend due to: 1) asset/land sales, and 2)
lumpy earnings recognition from its 40%-owned Battersea
Power Station project in London.
 SDPR has a dividend payout policy of 20% of net profit. Net
gearing was healthy at 0.21x in end-Sep 2018.
 SDPR has set a sales target of MYR1b for July-Dec 2018
10/12/2018 17:22
Friendship Upside
 Higher-than-expected land/asset sales.
 Stronger-than-expected take-up rates for its ongoing and
new projects.
 Better-than-expected operating margin.
 RNAV-accretive land acquisition.
10/12/2018 17:22
Friendship Target price of 1.25 coming soon
10/12/2018 17:22
Friendship Outlook for remaining 3 months of Financial Period Ending 31 December 2018 (FP2018)

Sime Darby Property is on track to meet its targets of Sales and Unbilled Sales for FP2018 of RM1.0 billion and RM2.2 billion, respectively. A total of 800 – 1,150 property units with a combined estimated GDV of about RM600 – RM650 million are targeted to be launched for the remaining three months of FP2018, comprising mainly properties within the affordable to medium price range.

“The recent Budget 2019 announcement contained measures that have provided more clarity on the property market and affordability aspect. This included stamp duty exemptions for residential properties priced between RM300,000 to RM1 million and financing assistance for first-time home buyers from Bank Negara Malaysia.

“We are cautiously optimistic on the sector’s outlook as the Budget measures will also benefit our potential buyers; about 58% of our launches in FY2018 were priced strategically in the range of RM200,000 to RM800,000 per unit, mainly from the Rumah Selangorku project at Putra Heights and double-storey landed properties at Elmina West, Bandar Bukit Raja and Serenia City,” Amrin said.
10/12/2018 17:33
jnal https://www.bharian.com.my/bisnes/hartanah/2018/12/508725/sime-darby-property-berhad-pemaju-induk-mvv-20
13/12/2018 20:43
dompeilee Chance to selfie with Zeti, but I didn't take it lol : https://www.youtube.com/watch?v=2hGiuUMw9ik&t=4s
14/12/2018 20:18
Friendship Wow Simeprop suspended pending major announcement
17/12/2018 09:16
Arron Wei limit up
17/12/2018 09:35
tomanhead Fly .......fly.......flyyyyyyyyy
17/12/2018 09:55
tomanhead Some people have slow digestion of the news
17/12/2018 10:17
Friendship https://www.thestar.com.my/business/business-news/2018/12/17/sp-setia-sime-property-sell-battersea-stakes-to-pnb-epf-for-rm8pt35b/
17/12/2018 10:53
Friendship Big gains
17/12/2018 10:53
Arron Wei got special dividend?
17/12/2018 10:56
jnal Why gap down?
17/12/2018 11:35
Friendship time to buy more
17/12/2018 12:25
Friendship Special dividend may b on the cards
17/12/2018 12:25
Friendship So many billions huat liao
17/12/2018 12:26
i3gambler Bought some at 0.94 this morning for speculating purpose.
18/12/2018 09:28
Friendship Maybank raised target price for Sime Property again
19/12/2018 12:37
jnal My prediction, mayb going down .support .900 for next month.. Momentum very slow..
21/12/2018 09:50
ajeng37 Last minute vol...come on....
23/12/2018 12:36
James Ng https://klse.i3investor.com/blogs/general/187755.jsp
[转贴] [SIME DARBY PROPERTY BERHAD:房地产行业持续疲软,现有的房屋过剩,经济不确定性和紧缩的贷款条件,加上购买率低,导致房地产开发商极具竞争力的营销推广和价格折扣] - James的股票投资James Share Investing
25/12/2018 12:18
Haw Liao this stock can curi-curi go up, very pandai... but i won't get trick
28/12/2018 18:00
Haw Liao low volume shoot up... very cleaver
28/12/2018 18:01
Haw Liao very amanah ahhh... hoarding shares
28/12/2018 18:03
Benny1123 Good move..
28/12/2018 18:05
Friendship http://www.theedgemarkets.com/article/stamp-duty-hike-properties-over-rm1m-deferred-six-months-july-1-2019
30/12/2018 11:01
Dakewlest Special dividend soon? Maybe?
31/12/2018 11:51
Friendship Hope so
Windfall gain
31/12/2018 13:40
pilato price drop last 10minute of trading in 2018
31/12/2018 16:56
jnal crazy fall...
31/12/2018 17:00
Friendship Luckily sold most around 1.08-1.09
New year can buy back haha
31/12/2018 17:17
Haw Liao see...another trap

drop 5sen in 5min...

who so cleaver that day say hold tight tight...

rope tight tight your neck...
01/01/2019 07:41
Friendship Drop more buy more Lo
02/01/2019 09:03
jnal Wait until below 0.900, already bearish matching for weekly chat..Carefull..
02/01/2019 11:17
East
How come SIMEPROP have 8 characters in the ticker? I thought Bursa max limit is 7 characters? Any info on this ?
http://youtu.be/VBZloK52RVU
02/01/2019 11:17
cwk82 How come the share keep drop?
03/01/2019 16:10
from1to10 something is brewing?
08/01/2019 13:56
griezmann good news coming soon!
08/01/2019 17:20
matlanjiao Post removed. Why?
08/01/2019 17:20
jnal griezman..what good news?
10/01/2019 12:08


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