Highlights
KLSE: SYF (7082)       SYF RESOURCES BHD MAIN : Consumer
Last Price Today's Change   Day's Range   Trading Volume
0.29   +0.005 (1.75%)  0.29 - 0.295  285,800
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Overview

Market Cap: 166 Million
NOSH: 574 Million
Avg Volume (4 weeks):2,309,894
4 Weeks Range:0.28 - 0.33
4 Weeks Price Volatility (%):
20.00%
52 Weeks Range:0.28 - 0.505
52 Weeks Price Volatility (%):
4.44%
Average Price Target: 0.49
Price Target Upside/Downside: +0.20
Stamp duty exempted for year 2021

Financial Highlight

Latest Quarter | Ann. Date 31-Jul-2021 [#4]  |  28-Sep-2021
Next QR | Est. Ann. Date: 31-Oct-2021  |  19-Nov-2021
T4Q P/E | EY: 39.37  |  2.54%
T4Q DY | Payout %: 4.24%  |  166.71%
T4Q NAPS | P/NAPS: 0.3765  |  0.77
T4Q NP Margin | ROE: 2.27%  |  1.96%

Headlines

Date Subject
11-Oct-2021 英莎倒置收购耗时/万年船
07-Oct-2021 Mplus Market Pulse - 7 Oct 2021
07-Oct-2021 PublicInvest Research Headlines - 7 Oct 2021
21-Sep-2021 Technical View - SYF Resources Bhd
21-Sep-2021 Technical Buy - SYF (7082)
20-Sep-2021 Trading Stocks - SYF Resources
13-Aug-2021 Stocks on Radar - SYF Resources (7082)
30-Jun-2021 Technical Buy - SYF (7082)
24-Jun-2021 Trading Stocks - SYF Resources
29-Mar-2021 Trading Stocks - SYF Resources
26-Dec-2020 [转贴] [Video:浅谈SYF RESOURCES BHD, SYF, 7082] - James的股票投资James Share Investing

Business Background

SYF Resources Bhd is an investment holding company. It specializes in the production of dining furniture, bedroom furniture, kiln dry sawn timber and lamination board, among others. The company's segments include Rubberwood furniture, Boards, Property development and construction, and Others. The Rubberwood furniture segment is engaged in manufacturing and trading of rubberwood furniture and component parts. The Boards segment is engaged in manufacturing and trading of particle board and medium-density fiberboard. The Property development and construction segment include property development and construction. The Others segment includes investment holding and others. Its geographical segments include Malaysia, Asia Pacific and other Asian countries, Europe and North America.
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  6 people like this.
 
peter Too Covid19 Will kill your family........
08/10/2021 2:52 PM
firehawk Copy from pg.58 of the proposal, M & A Securities financial results for the past 4 years.
Looked like more stable than the SYF existing business (which occasionally reports loss)
(Copy from pdf file, alignment not easy be done, read accordingly (vertical block).

FYE 30 June 2018(RM’000)
FYE 30 June 2019
FYE 30 June 2020
FYE 30 June 2021

Revenue
32,162
26,314
36,978
68,906

PBT
10,042
8,818
12,814
24,825

PAT
7,231
6,618
9,217
18,813

No. of shares in issue
100,000

Basic EPS (sen)
7.23
6.62
9.22
18.81
08/10/2021 4:32 PM
TheContrarian If buy SYF at 34.5 sen, after special dividend and capital repayment of 18 sen, net cost is only 16.5 sen.
08/10/2021 6:20 PM
Lpc1225 For every two syf shares you are entitled to apply for 1 M&A share at 14c,this will bring your
cost of 16.5c even lower.
08/10/2021 6:41 PM
TheContrarian Yes, will lower cost to 15.7 sen.
08/10/2021 7:09 PM
Winner_Master Quite sad not staying above 0.355 today. If cannot break for next transaction, then high chance of reversing direction. Please watch closely next week.
08/10/2021 9:40 PM
Raiz368 The fair value for SYF should be above 40 cent...
08/10/2021 9:46 PM
Diamond7 Can buy?
Worth buying?
08/10/2021 9:53 PM
TheContrarian I think downside is limited but there's greater upside. Can't go down much but at the right time it can rocket up.
08/10/2021 10:37 PM
wcc636588 Agree with you contrarian. The upside will start once SC approve the proposed exercise. Cheers and happy weekend .
08/10/2021 10:47 PM
TheContrarian There will probably be several times to stir interest. Could be a favourable article/write-up before SC approval, immediately after SC approval, in the run up to the EGM, immediately after EGM approval, before rights ex-date etc. etc.
08/10/2021 11:21 PM
B4b4 Buy and wait
11/10/2021 4:36 PM
TheMerchant High valuation for M&A Securities
TheEdge Mon, Oct 11, 2021 01:30pm - 6 hours ago

Insas Bhd’s plan for M&A Securities Sdn Bhd to assume the listing status of SYF Resources Bhd in a RM222 million reverse takeover exercise deal has received muted response from investors, judging from the two companies’ share price performance.

The deal values M&A Securities at a price-earnings ratio of 11.8 times and price-to-book (P/B) ratio of 1.2 times, based on its net earnings and net asset value for the financial year ended June 30, 2021 (FY2021).

The valuation of M&A Securities is even higher than that of the local banks, whose average P/B ratio is only 0.9 times. Currently, smaller banks such as Affin Bank Bhd and Malaysia Building Society Bhd are trading at only 0.4 and 0.5 times respectively.

Also, the P/B ratios of other stockbroking firms such as Kenanga Investment Bank Bhd and Apex Equity Holdings Bhd come in lower at 0.9 and 0.6 times respectively.

Thus, the deal to inject M&A into SYF Resources — which will subsequently lead to a name change to M&A Capital — may look expensive.

Upon completion of the backdoor listing, Insas will hold 75.9% of SYF Resources as the disposal sum will be satisfied via the issuance of new shares in SYF Resources.

From the financial performance perspective, while M&A Securities saw a strong jump in its net profit — from RM9.22 million in FY2020 to RM18.81 million in FY2021 — using a three- or five-year average could have been a better benchmark. Note that in FY2019, its net profit was a mere RM6.62 million.

The exceptionally robust earnings were primarily boosted by active share trading among retail investors, driven by loan moratoriums as well as strong market interest in healthcare, technology and penny stocks. At the same time, M&A Securities also acted as principal advisers and successfully listed six companies on the ACE Market in FY21.

As retail participation eases, stockbroking firms may see more normalised earnings, and this will be reflected in the upcoming results.
11/10/2021 7:53 PM
mhanaS Bought in at 33sen. So that means cost will be 15sen. Plus additional 14sen new shares means total cost will be 14.6sen. Seems okay. Of course if price drops to 32sen all the better!
12/10/2021 4:05 AM
B4b4 Buy and wait
12/10/2021 7:52 AM
firehawk Mr Thong is a very smart and clever chinaman ......
12/10/2021 7:53 AM
stockraider U all must understand huge dilution of NAV to only 15 sen after issuance of massive more than 1 billion shares to insas mah!

Basically u get about par value investment in M&A after dividend & capital repayment loh!

As investment prospect at PE 12x is reasonable despite comparison with affin & kenanga loh!

U need to bear in mind there is a corporate exercice with RI & special issue to staffs at 14 sen mah!

Also u need to take note the current fd rates is only around 2% pa whereas m&a earnings yield is 8.3% pa and most likely the dividend yield will exceed 2% pa mah!

With growth opportunity for m&a....this is a good speculative play...with high chance of succeed loh!

They will goreng the share way above the RI & share issue price loh!
There will probably be several times to stir interest. Could be a favourable article/write-up before SC approval, immediately after SC approval, in the run up to the EGM, immediately after EGM approval, before rights ex-date etc. etc.


Posted by TheContrarian > Oct 8, 2021 10:37 PM | Report Abuse

I think downside is limited but there's greater upside. Can't go down much but at the right time it can rocket up.



Posted by mhanaS > Oct 12, 2021 4:05 AM | Report Abuse

Bought in at 33sen. So that means cost will be 15sen. Plus additional 14sen new shares means total cost will be 14.6sen. Seems okay. Of course if price drops to 32sen all the better!


Posted by TheMerchant > Oct 11, 2021 7:53 PM | Report Abuse

High valuation for M&A Securities
TheEdge Mon, Oct 11, 2021 01:30pm - 6 hours ago

Insas Bhd’s plan for M&A Securities Sdn Bhd to assume the listing status of SYF Resources Bhd in a RM222 million reverse takeover exercise deal has received muted response from investors, judging from the two companies’ share price performance.

The deal values M&A Securities at a price-earnings ratio of 11.8 times and price-to-book (P/B) ratio of 1.2 times, based on its net earnings and net asset value for the financial year ended June 30, 2021 (FY2021).

The valuation of M&A Securities is even higher than that of the local banks, whose average P/B ratio is only 0.9 times. Currently, smaller banks such as Affin Bank Bhd and Malaysia Building Society Bhd are trading at only 0.4 and 0.5 times respectively.

Also, the P/B ratios of other stockbroking firms such as Kenanga Investment Bank Bhd and Apex Equity Holdings Bhd come in lower at 0.9 and 0.6 times respectively.

Thus, the deal to inject M&A into SYF Resources — which will subsequently lead to a name change to M&A Capital — may look expensive.

Upon completion of the backdoor listing, Insas will hold 75.9% of SYF Resources as the disposal sum will be satisfied via the issuance of new shares in SYF Resources.

From the financial performance perspective, while M&A Securities saw a strong jump in its net profit — from RM9.22 million in FY2020 to RM18.81 million in FY2021 — using a three- or five-year average could have been a better benchmark. Note that in FY2019, its net profit was a mere RM6.62 million.

The exceptionally robust earnings were primarily boosted by active share trading among retail investors, driven by loan moratoriums as well as strong market interest in healthcare, technology and penny stocks. At the same time, M&A Securities also acted as principal advisers and successfully listed six companies on the ACE Market in FY21.

As retail participation eases, stockbroking firms may see more normalised earnings, and this will be reflected in the upcoming results.
12/10/2021 8:14 AM
B4b4 What happen if the Proposal isn't approved by Bursa?
12/10/2021 10:19 AM
yleng83 0.315 NOW. CAN IT GO LOWER THAN 0.300
12/10/2021 11:38 AM
Raiz368 Still under selling pressure...wait for reversal to enter. lowest will go maybe around 30 cent.
12/10/2021 2:04 PM
Raiz368 Waiting drop below 30 cent to buy SYF
12/10/2021 9:49 PM
charlie chia The edge commented yesterday that RTO M
12/10/2021 10:17 PM
mhanaS The dividend and capital repayment proposal is 18sen. The new share issue is 14sen. Add the two together and you wonder why would anyone sell at 31½sen or below?
Add in the rights issue as well as potential upside that the new business brings, one could sum up that collecting the counter now seems like a no-brainer.
12/10/2021 10:32 PM
stockraider Go for it!

A potential corporate Play mah!
13/10/2021 8:22 AM
TheContrarian Added at 32.5 sen this morning.
13/10/2021 1:39 PM
mhanaS Looks good. Tomorrow seems promising by the look of things today.
13/10/2021 6:05 PM
firehawk After the special dividend and capital repayment, total 18 sen .... market price must be higher than 14sen, otherwise people can buy from the market rather than subscribe the RI !!
14/10/2021 9:55 AM
TheContrarian 32.5 sen - 18 sen = 14.5 sen effective cost.
14/10/2021 9:34 PM
mhanaS 32sen. Perfect.
21/10/2021 5:41 PM
firehawk why he purposely makes the vol high high?
25/10/2021 10:49 AM
firehawk non-stop playing himself @0.325 ......
25/10/2021 11:04 AM
mhanaS Are the IBs trying to short SYF??
26/10/2021 8:09 AM
charlie chia Being stabled around 32-33 Cts
Time to go in before rebound
27/10/2021 10:43 PM
Rich_Trader Post removed. Why?
27/10/2021 10:48 PM
CIO888 Post removed. Why?
27/10/2021 10:55 PM
mhanaS Well, 31½ seems to be the realistic price, so I'd just hodl
01/11/2021 10:42 PM
charlie chia Yes good price to collect it
01/11/2021 11:13 PM
thesteward Wah so many retailers
02/11/2021 2:16 PM
thesteward :-( believe many retailers sangkut at 44-32 . Hope can rebound soon
03/11/2021 10:46 AM
Bettyem 不急于购买,只是尚未获得有关部门批准的提案?
07/11/2021 9:34 AM
charlie chia Waiting now is the East wind to blow up
07/11/2021 10:54 AM
thesteward Must not break 27.5 if break 27.5 many retailers might cut
08/11/2021 11:22 AM
Bettyem 许多人在孵化前数鸡蛋……如果提案未获批准怎么办?
08/11/2021 11:42 AM
thesteward Many retailers thot 31.5/32 Low enough but :-(
09/11/2021 8:25 PM
mhanaS Well the assumption on the initial calculations was as such.
15/11/2021 6:36 PM
taitaumau I wonder whether valuation of RI at 0.14 is 2 high?
19/11/2021 6:07 AM
Risk Trader Slowly down to 20 cent and below...
22/11/2021 10:50 PM
thesteward Ya seems like you could be right .
Many retailers stuck between 44 sen to 30 sen . Many thot 32/30 was low enough di.
24/11/2021 10:55 AM
thesteward Gosh I just realised last year July august syf only 13 sen gosh gai
27/11/2021 9:35 AM
thesteward Pls lo don’t break lo 27.5
29/11/2021 11:05 AM


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