OK. Will do research as well as read up the comments n feedbacks from your 2 sources. Revert to you later. Hope we can share more to do more successful investments

kancs3118 I am not well informed on what is the average salary of the Chairman and Dtors to give a fair comment. Need to have some comparitive figures. After getting some idea on this, we have to evaluate each case on its own merits, including the size of the entity/group of companies he helms as well its profitability.
Notwithstanding the above, i agree with your views in supporting the right combination of salary/shareholdings for the Board so that the minority shareholders will get to share the benefits of the company's growth in a meaningful way.

Tan Sri is not politically active for the longest time. Symlife is not in any business which relies on Govt support. No tenders for any Govt contracts of any kind. Symlife is operating its core businesss very well relying on its own resources and on its own merits.

So used to type in all capital letters. Finds it cumbersome to do otherwise. No offence meant. Did not know it can create the kind of impression on others. Anyway appreciate your feedback. Not aware until a 3rd party feeds back to u..

kancs3118. TAN SRI AZMAN IS NOT INVOLVED IN ANY BIDDING FOR ANY GOVERMENT PROJECTS LIKE MRT, LRT, HIGHWAYS, HIGH SPEED RAIL, ETC. THESE ARE NOT TAN SRI'S OR SYMLIFE'S CORE BUSINESS. HENCE THERE IS ABSOLUTLY NO NEED FOR ANY CRONY RELATIONSHIP. SYMLIFE ALREADY HAS A VAST LANDBANK TO LAST IT FOR THE NEXT 15 TO 20 YEARS. I THINK U WILL AGREE WITH ME. TQ

I THINK ANY RELATIONSHIP REFERRED TO HAPPENED LONG LONG AGO. ITS VERY HISTORICAL. DURING THE LAST 5 TO 10 YEARS, THERE WERE HARDLY ANY NEWS OR EVENTS LINKING THE TWO OF THEM. ANYWAY,
SYMLIFE IS NOW VERY WELL ESTABLISHED IN ITS BUSINESS AND IS ALREADY OWNING A VAST LANDBANK WHICH IS BEING DEVELOPED WITH MANY PRESTIGEOUS PROJECTS, BOTH COMPLETED AND ONGOING. HENCE DATO AND SYMLIFE DO NOT NEED THE SUPPORT OF THE PM OR ANY ONE ELSE. SYMLIFE NOW IS ALREADY A MATURED, VIBRANT COMPANY WITH SOUND FUNDAMENTALS . SYMLIFE HAS ALREADY BEEN STEADFASTLY FUNCTIONING AS A VIABLE BUSINESS ENTITY AND A REPUTABLE DEVELOPER STANDING ON ITS OWN MERITS. NO NEED FOR ANY CRONY SUPPORT FROM ANYBODY.

Symlife's strong fundamentals comes from good management and solid landed asset backing from its vast landbank owned at very low costs. Some opined that if all its landbank is revalued now, its market share will be worth RM9 per share. However prudent management, especially the need to match tax liabilities against cash flows, will not take this corporate policy. instead it will progressively "mine its goldmine" (i.e. by developing it, turn it into cash profits, to unlock value for its shareholders. Nevertheless it will be worthwhile to share Symlife's strong fundamentals so that more investors will be aware of them.
P.E, RATIO : 4.8x (very low compared to its peers and the average P.E. for the property sector) indicative of its share price is very much undervalued.
DIVIDEND YIELD : 4 SEN or 4.8% (if based on last year's dividend payment)
PROSPECTS : EPS already 14.3 sen (at the 9 month/3Q stage)
+ expected/est. 4Q contribution of 16.1 sen
= TOTAL EPS 30.4 SEN (est. for the full year)

: 4 ongoing projects launched (+ another 3 in the pipeline which can be
rescheduled till after a better demand for higher end houses
returns. This fineturning will allow it to prioritise the launching of
its 412 acres RM8B township in Sg Long where it can focus on
affordable housing now and build higher end types later.

: Symlife will still have a comfortable profit margin in Sg Long
due to advantage of low land costs.

SELECTED INDICATIONS OF SYMLIFE'S UNDERVALUED LANDS BENCHMARKED AGAINST CURRENT VALUATIONS (per current purchase prices by its peers):

Stock: [SYMLIFE]: SYMPHONY LIFE BERHAD
Sep 15, 2014 09:24 AM | Report Abuse
The book value of the land per 2013 AR is RM457.7m. The revised land value based on market research and latest transacted prices is RM2.92b. Sg Long land valued at RM100/sqft. Symlife has 310m shares. RNAV of land is RM2.92b/310m = RM9.42/share.

The group’s preliminary projection shows that the 420 acres (170ha) Sungai Long township may carry a total gross development value (GDV) of RM8 billion. The land is deemed a jewel for the mid-sized developer, which has a market capitalisation of RM368.5 million at its current share price of RM1.20.
Stock: [SYMLIFE]: SYMPHONY LIFE BERHAD
Aug 28, 2014 01:55 PM | Report Abuse
Wow, MahSing just paid RM656.9M for 88.7acres or RM170/sqft of leasehold land in Puchong. Very close (~15km) to Symlife's remaining 29.2acres Puchong land. At RM170/sqft, this works out to RM216M or 70c/Symlife share. Symlife has this parcel valued at RM33.9M in its book. Fat margins here.
Anyways let us not take our eyes of the prized assets which is the 419acre of Sg Long parcel. This is going to propel Symlife to RM4 or RM5 easily when the analyst start to cover this stock.

To recap, SYF recently paid RM31.08m to the landowners for the 8.1acre Sg Long parcel. This works out to RM88.15 per sqft.

Symlife has 419acres there valued at RM137.4m or RM7.52 per sqft. Using the RM88 per sqft benchmark, this land is worth an amazing RM1.606B or RM5.18/share on an undiluted basis or RM3.85/share with the warrants fully converted.

Then we have another benchmark from SHL Consolidated whose management stated their Sg Long land is worth RM130/sqft base on market value. Now this is worth Rm7.65/share.

Stock: [SYMLIFE]: SYMPHONY LIFE BERHAD
Aug 25, 2014 05:09 PM | Report Abuse
Go to his website tongkooiong.com. He updates his portfolio regularly and stated the reasons for buying them. He got them at RM1.25.

Aug 18, 2014 06:21 PM | Report Abuse
But for small cap, perhaps a 60-70% discount. So a TP of RM2.7 is not unreasonable.

Aug 13, 2014 02:58 PM | Report Abuse
Currently, the languishing share price presents an opportunity to collect while it is still dirt cheap. When one looks at the property sector, many of the counters have skyrocketed (Guocoland, SHL, SAB) while there are still a few counters that scream buy and Symlife is one of them.

Stock: [SYMLIFE]: SYMPHONY LIFE BERHAD
Aug 13, 2014 09:15 AM | Report Abuse
Guocoland share price spiked up because of analyst coverage.

WE JUST WAIT FOR THE CATALYSTS TO UNFOLD FOR SYMLIFE'S SHARE PRICE.
MEANWHILE WE ARE ASSURED BY ITS SOLID ASSET BACKING

DISCLAIMER
===========
THE VIEWS EXPRESSED HERE ARE PURELY MY PERSONAL OPINIONS WHILE THE DATA PUT FORTH SHOULD NOT BE ACCEPTED AS GOSPEL TRUTHS AND MAY IN FACT BE INACCURATELY SOURCED OR COMPUTED.

HENCE MY VIEWS ARE NOT AN INVITATION TO BUY OR SELL ANY STOCKS.

PRUDENTLY CAUTIOUS ON SHARES WITH EXPOSURE TO THE OVERBUILT SITUATION IN ISKANDAR JOHOR. SPORE GOVT ALREADY SOUNDED WARNING BELL TO ITS CITIZENS WHO ARE BIG PROPERTY INVESTORS THERE. THE GLUT HAD ALREADY FORCED SOME DEVELOPERS TO SCALE BACK.
ISKANDAR PROPERTY GLUT: Developer scraps plan to build 'mega mall'
The principal developer of Iskandar Malaysia, UEM Sunrise Bhd, has ceased its plan to build one of the region's major projects.
Singapore's The Straits Times reported today that no reason was given for the decision to halt plans to build the huge Asian Trade Centre (ATC) in Iskandar, Johor.Others in the industry said the decision to drop such a large facility would create further worry in the Iskandar property market, which is already weakened by oversupply concerns in the residential sector.
Full article: http://www.malaysia-chronicle.com/index.php?
The newspaper noted that this would likely intensify concerns that the fast-growing region is hitting some "speed bumps
Full article: http://www.malaysia-chronicle.com/index.php?

TROP REPORTED TO HAVE PLANNED A 3,000 UNITS RESIDENTIAL PROJECT IN ISKANDAR. MARKET NEWS ARE THAT THEY PRUDENTLY REVISING ITS PLANS TO CHANGE PART OF IT INTO COMMERCIAL.
(Disclaimer)
ABOVE COMMENTS ARE OBTAINED FROM VARIOUS MARKET NEWS SOURCES AND ARE BEING SHARED HERE TO EXCHANGE INFO AND OPINIONS ONLY and had not been verified.
IT IS NOT AN INVITATION TO BUY OR ANY STOCKS

I HAVE RESERVATIONS IN IDENTIFYING THE FINANCIAL BLOG. INSTEAD I HAD ATTACHED AN EXTRACT OF THEIR RELEVANT COMMENTS. IN ADDITION I DID SOME BACK TESTING TO TALLY THEIR CLAIM OF RM500M IN UNBILLED SALES TO BE REFLECTED IN SYMLIFE'S 4Q RESULTS TO 31/3/15. MY OWN FINDINGS IN FACT EXCEEDED THEIR RM500M.

PROJECTS & GDV % SOLD UNBILLED SALES
========= ==== ======= ==============
ELEVIA PUCHONG RM120M 60 72M
DESIRAN KL RM110M 40 30M
(SYMLIFE'S SHARE IS 68% OR RM75M)
TWY MONT KIARA RM400M 50 200M

STAR RESIDENCES KLCC RM724M 80 290M
(1 PHASE 557 UNITS AV PRICE
RM1.3M EACH. J/V 50/50 WITH
UM LAND)
===========================================================================
ESTIMATED UNBILLED SALES FOR SYMLIFE TO BE REFLECTED IN THE 4Q RESULTS
AS AT 31/3/15 TO BE ANNOUNCED SOON = RM592M
============================================================================

TO RECAP (MY EARLIER FORECAST FOR EPS :-
9 MONTH EPS AS AT 31/12/15 (AS ANNOUNCED) 14.3 SEN
ADD PROJECTED EPS FOR 4Q (@ 10% ON ITS UNBILLED SALES 592M 19.1 SEN
=================================================================
TOTAL EST. EPS FOR THE FULL YEAR ENDING 31/3/2015 = 33.4 SEN


=================================================================

(NOTES)
INCLUDING DISPOSAL GAIN RM26.5M OR 8.5 SEN PER SHARE
NOT INCLUDING ANY POSSIBLE IMPAIRMENT ON SHARE HOLDINGS
IN SYMPHONY HOUSE WHICH IS EXPECTED TO BE INSIGNIFICANT
THIS Q.
UNBILLED SALES COULD EVEN BE HIGHER DUE TO INCREMENTAL SALES
DURING THE 4Q FROM 1/1/15 TO 31/3/15.

SOME GOOD GROUNDS TO BE OPTIMISTIC

Disclaimer
==========
PLEASE BE REMINDED THAT MY VIEWS AND ANY FINANCIAL DATA THAT HAD PRESENTED IN THIS FORUM IS PURELY FOR DISCUSSIONS AND THE SHARING OF MARKET KNOWLEDGE FOR MUTUAL EDUCATION AND BENEFIT.

THE VIEWS EXPRESSED HERE ARE PURELY MY PERSONAL OPINIONS WHILE THE DATA PUT FORTH SHOULD NOT BE ACCEPTED AS GOSPEL TRUTHS AND MAY IN FACT BE INACCURATELY SOURCED OR COMPUTED.

HENCE MY VIEWS ARE NOT AN INVITATION TO BUY OR SELL ANY STOCKS.

MY OWN RESEARCH WAS FOR THE 4Q OF ITS CURRENT FINANCIAL YEAR ENDING 31/3/2015.

HI,
DID NOT MATTER WHO WAS IT. TO SATISFY MYSELF I UNDERTOOK MORE RESEARCH AND DID SOME BACK TESTING TO TALLY THE FIGURE OF RM500M IN UNBILLED SALES. PRETTY ACCURATE WHICH THEREFORE SUPPORTS MY OPTIMISTIC VIEWS OF SYMLIFE. I HAVE TO GO OUT SHORTLY. I HOPE I HAVE TIME TO PRESENT MY SO-CALLED CRUDE "RESEARCH AND FINDINGS" AFTER I AM BACK HOME LATER. OTHERWISE I WILL DO IT TOMORROW MORNING. JUST TO EXCHANGE INFO N OPINIONS

BASED ON RM500M UNBILLED SALES TO BE REFLECTED IN ITS 4Q RESULTS, THEN AN INPUT OF 10% PROFIT OR RM50M CAN ADD 10.1 SEN TO ITS FULL YEAR PROFITS. THIS ADDITIONAL 10.1 SEN EPS WILL BE PURELY FROM OPERATING ACTIVITIES (HOUSING DEVELOPMENT)

THE 4Q RESULTS DUE OUT THIS WEEK WILL PROVIDE INTERESTING INSIGHTS INTO ITS ACTUAL BUSINESS PERFORMANCS AS WELL AS IT BUSINESS DIRECTION.

SYMLIFE & SG LONG & 4Q RESULTS EXPECTATIONS
============================================

READ SOME COMMENTS ON SYMLIFE WHICH PROMPTED ME TO ADD IN A FEW LINES WHILE AWAITING ITS 4Q RESULTS TO BE OUT BY NEXT WEEK.
Its 3Q report indicated a plan to focus more on affordable housing to be line with current demand. A financial blog said Symlife do have a plan to cater for more affordable housing in its intergrated township to be developed in its 412 acres Sg Long land and had already paid the premium to convert it to residential & commercial. However this project was held back by the govt's intention to acquire a portion of it for its Langat 2 water treatment plant and to build a new MMR2 access. Hence Symlife really want to do more affordable housing but the Water Restructuring Master Plan delayed it. Now it can proceed and this will enhance Symlife's business prospects.
The financial blog also cited Symlife's unbilled sales of RM500M which will be reflected in its upcoming 4Q results. It estimated that if just 10% of this is turned into profits, the 4Q/Full year profits could be :-
YTD 9 months EPS 14.3 sen
ADD 4Q contribution est.@ 10%xRM500M divided by 310m shares 16.1 sen
-----------------------------------------------------------------------------------------------------------
= TOTAL (estimated ) EPS FOR THE FULL YEAR 2014 30.3 SEN
==========================================================

EVEN IF WE FACTOR IN SOME IMPAIRMENT OF 5 SEN, WE MAY GET EPS OF 25.3 SEN.

POSSIBLE?

Let's wait for its 4Q results to be released in the next few days and see.

CURRENTLY TROPICANA IS FACING THE NEGATIVE NEWS ON ITS SYARIAH STATUS + EXPOSURE TO THE HOUSING SUPPLY GLUT RISKS IN ISKANDAR. HENCE ITS SHARE PRICE WILL ENCOUNTER THESE HEADWINDS AND NEEDS SOME TIME TO CONSOLIDATE AGAINST PROFIT TAKING SELLING PRESSURE.

Saturday, 23 May 2015 18:52
INEVITABLE GLUT in Johor's Iskandar, where there are more homes than in all of S'pore
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INEVITABLE GLUT in Johor's Iskandar, where there are more homes than in all of S'pore
KUALA LUMPUR - Frenzied construction by developers hoping to tap the real estate potential of the Iskandar region is ironically leading to a glut that is depressing property value in the southern economic development corridor.

According to a report by the Financial Times, the Monetary Authority of Singapore (MAS) has already sounded a warning over the 336,000 private residential units either built or being built in Iskandar to target buyers from the republic.

The figure exceeds the total of all completed private homes on the market in the island state, said the MAS, illustrating the margin with which supply will exceed demand in Iskandar.

The development in Iskandar also far outstrips any that are meant for local buyers in the rest of Johor, which official figures put as 38,000 under construction and a further 48,000 in the planning stage.

Worryingly for the primarily China-based developers is that most of these projects are already in progress even as demand is tapering off.

One such developer, Country Garden, has 45 condominium towers with a combined total of 9,500 units set to come online in 2017, but has received bookings for less than a third some two years after construction began in 2013.

This excess supply is also hitting builders such as Guangzhou R&F Properties that has sold just half of its 1,400 luxury home units in the region; another, Greenland Group, is planning another 2,000.

Aside from the obvious glut, other factors depressing sales in the region are the prices that have ballooned to levels comparable to the national capital of Kuala Lumpur and property controls that limit foreigners to buying property priced at no less than RM1 million.

According to data by Asean Confidential, the effects on property value growth in Iskandar is already palpable.

Going into 2012, it began climbing steadily to eventually outstrip the national average, before peaking at 25 per cent in annual appreciation. But it began falling almost immediately, plunging to 10 per cent last year, less than a percentage point over the rest of the country.





Full article: http://www.malaysia-chronicle.com/index.php?option=com_k2&view=item&id=517941:inevitable-glut-in-johors-iskandar-where-there-are-more-homes-than-in-all-of-spore&Itemid=3#ixzz3b0MsYqDk
Follow us: @MsiaChronicle on Twitter

TO ME, PRIORITISING THE DEVELOPMENT OF SG. LONG LAND OVER THE OTHER 4 PLANNED BUT NOT YET LAUNCHED PROJECTS OF THE HIGHER END SEGMENT OF THE PROPERTY MARKET IS PRUDENT TWEAKING OF THEIR DEVELOPMENT STRATEGIES TO FOLLOW AND MEET THE RIGHT/CURRENT CUSTOMERS' DEMAND. AFFORDABLE HOUSING IS THE RIGHT PRODUCT NOWADAYS. LOGICALLY, SYMLIFE SHOULD DO THIS FOR THE REASON:
SG LONG LAND'S LOCATION IS NOT PRIME COMPARED TO KLCC OR MONT KIARA BUT ITS STILL QUITE GOOD BEING IN THE KAJANG/CHERAS AREA. IT WILL NOT BE A "WASTE" TO DEVELOP IT FOR AFFORDABLE HOUSING. SYMLIFE CAN STILL MAKE A COMFORTABLE PROFIT MARGIN DUE TO ITS LAND COST HOLDINDS BEING VERY LOW (OWNED LONG AGO UNDER BOLTON'S TIME) 412 ACRES IS HUGE AND SYMLIFE CAN BUILD AFFORDABLE HOUSES NOW FOR FASTER MONETISING OF THIS UNDERVALUED LANDBANK AND GENERATE FASTER CASH INFLOWS AND RESERVE SOME PORTION OF IT FOR MORE HIGH END DEVELOPMENT WHEN MARKET DEMAND FOR THE LATTER RETURNS.

WE WILL GET A CLEARER PICTURE FROM THEIR 4Q REPORTS WHICH SHOULD BE RELEASED NEXT WEEK.

DID SOME RESEARCH. PERSONALLY, THE OVERALL FINDINGS ARE STILL POSITIVE AFTER TAKING INTO AC THE CURRENT SOFTER PROPERTY MARKET CONDITIONS. SOME INDICATIONS ON ITS ON-GOING PROJECTS (including those planned to be launched in the 2nd half of 2015):
1) ELEVIA RESIDENCES. (more than 60% sold as at 30/9/2014 per its 3Q results report)
2) STAR RESIDENCES@KLCC (50:50 J/V with UMLAND. More than 80% sold as recently reported. Its very prime location near the Iconic Petronas Twin Towers attracted good excellent demand/sales)
3) THE WHARF RESIDENCES @TOWER28 (villas + 1 block of 25 storey condo at Tmn Tasik Prima, Puchong. don't have news on its take up rate. However location is said to be good)
THE OTHER 4 PROJECTS listed as "on-going" are planned to be launched in the 2nd half of 2015 (per its 2nd Q report). In view of the softer market for high end houses and the higher demand for affordable housing, i believe the D'tors may reschedule their launches if their own research warrants such a business strategy.
AS I HAD EARLIER OPINED. SYMLIFE GOT LUCK. AND I BELIEVE IT WILL TAKE ADVANTAGE OF THE LUCKY BREAK IN GETTING THE GREENLIGHT TO PROCEED WITH ITS RM8B SG. LONG PROJECT (which was delayed by the stalemate in the water restructuring master plan but now agreed to be implemented within 60 days). Its 412 acres in the Kajang/Cheras district is huge and owned long ago at very low costs. This location is non-prime but still good and very suitable for AFFORDABLE HOUSING.
HENCE I BELIEVE A REPLANNING BY SYMLIFE IN GIVING PRIORITY TO THE SG LONG PROJECT AND REVISE THE LAUNCHING OF ITS YET TO BE LAUNCHED 4 PROJECTS WILL BE
GOOD BUSINESS STRATEGY WHICH WILL BE WELL RECEIVED BY INVESTORS.

(NB. READ IN ITS 3Q FINANCIAL REPORTS THAT SYMLIFE SOLD SOME NON-CORE ASSETS AND BROUGHT IN A CASH INFLOW OF RM63M TOGETHER WITH A CAPITAL GAIN OF RM26.5M. Positive news.)

LOOKING FROM A POSITIVE PERSPECTIVE, SYMLIFE'S BUSINESS PROSPECTS SHOULD BE OK. THEY HAD THE FORTUNE OF GOOD TIMING FOR HAVING SUCCESSFULLY LAUNCHED ITS 7 HIGH END PROJECTS CATERING FOR THE PREMIUM MARKET SEGMENT BEFORE THE SOFTER SENTIMENTS SETS IN. THE HIGH TAKE UP RATES IN ALL THESE ONGOING PROJECTS WILL PROVIDE SUPPORT IN TERMS OF GDV, PROFITABILITY AND CASH FLOWS.

SYMLIFE IS ALSO LIKELY TO CONTINUE IN ITS FORTUITIOUS PATH. kancs3118 said "in their last quarterly report, they are going to shift to affordable housing". I THINK SYMLIFE'S
DIRECTORS ACTUALLY HAVE GOOD FORESIGHT AND BUSINESS ACUMEN. THEY HAD CORRECTLY FORESEEN THE LIKELY CHANGE IN THE FUTURE OF PROPERTY DEVELOPMENT IN THE NEXT FEW YEARS AND ARE ACTUALLY PREPARING FOR THE SHIFT TO AFFORDABLE HOUSING TO STRENTHEN THEIR BUSINESS FUNDAMENTALS. THEY ALSO HAVE THE LUCKY BREAK FROM THE JUST ANNOUNCED 60 DAYS FEDERAL/SELANGOR STATE GOVT COMPLETION TIMELINE FOR THE "WATER RESTRUCTURING FOR SELANGOR". SYMLIFE'S SG LONG'S RM8B GDV PROJECT IN ITS 412 ACRES WAS HELD BACK BYTHE NEED OF THE STATE GOVT TO ACQUIRE PART OF SG LONG'S LAND FOR THE LANGAT2 WATER PLANT AND THE PROPOSED NEW HIGHWAY THERE. SYMLIFE CAN NOW PROCEED AND ITS 412 ACRES IS HUGE AND THIS IS WHERE SYMLIFE CAN NOW "shift to its preplanned affordable housing there.Its 412 acres is big and therefore able to accomodate it in its mixed housing strategy. SG LONG'S LOCATION IN THE KAJANG/CHERAS DISTRICTS (NON PRIME AS IN ITS KLCC, MONT KIARA) IS ALSO SUITABLE FOR AFFORDABLE HOUSING. SYMLIFE ALSO HAS THE HUGE COST ADVANTAGE IN THAT IT OWNS SG LONG LAND AT VERY VERY LOW COSTS ( INHERITED FROM ITS PREDECESSOR'S TIME (BOLTON). HENCE WILL STILL HAVE A COMFORTABLE PROFIT MARGIN

FULLY AGREED THAT WHILE LOOKING FOR SHARES WITH GOOD INVESTMENT RETURNS LIKE CAPITAL GAINS, DIVIDEND YIELDS, RISK MANAGEMENT ESPCIALLY ITS SAFETY MARGIN IS ALSO IMPORTANT IN THE PRESERVATION OF OUR CAPITAL FUNDS

kancs3118 The fact is that Symlife is very strongly backed by tangible assets in the form of its valuable and sizeable landbank. Its audited NTA is already 2.10. Some estimated its RNAV @ RM9.00 per share if its landbank is revalued benchmarked against recent land transactions in areas where Symlife owns significant acreages. Most importantly Symlfe's Directors are competently and diligently unlocking the value of its landbank by developing it, thus creating value for its shareholders. It had already successfully launched 7 high value projects the last 2 years and has another 3 in the pipeline. To all these will soon be added its next big one at Sg Long (now that the Water Restructuring Master Plan especially Langat2 is going to be implemented within 2 months, thus clearing the way for development of Sg Long).
U directed me to gather more info on Symlife from James70. One particular comment from there impressed me deeply " those who invest in Symlife shares will be rewarded with a very tidy profit". Many thanks kancs3118.

kancs3118. hi, no details yet on the size of the land acquisition for Langat2. The portion required for waterworks normally are not much n as a percentage to Sym's Sg Long landbank size, it will not be significant. Luckily Symlife's landbank at Sg Long with 460 acres is big and can accomodate the requirement without hampering the development of the rest of the land.
The 2 month timeline to implement the water restructuring Master Plan is reasonable. THhe process to develop Sg Long's landbank can proceed without further delay.

The relevant law on land acquisition by the Govt will follow the the current/prevailing market valuation Already in practice for some time. The exact terms of Govt compensation is not known yet.

GREAT FOR SYMLIFE. GOOD NEWS ON SELANGOR WATER RESTRUCTURING, IMPLEMENTATION OF LANGAT 2, AND HENCE VERY POSITIVE FOR THE DEVELOPMENT OF SYMLIFE'S SG LONG LANDBANK. ITS GDV WORTH RM8B IS HUGE AND IT COMES WITH BIG PROFIT MARGETS DUE TO ITS VERY LOW HOLDING COSTS AND HIGH CURRENT MARKET VALUATION OF LANDS THERE. SYMLIFE'S 460 ACRES IS HUGE.HENCE ANY LAND ACQUISITION WILL BE RELATIVELY MINOR IN PROPORTION AND THE COMPENSATION WILL BE BASED ON CURRENT MARKET VALUATION. IN ADDITION A NEW EXPRESSWAY IS BEING PROPOSED THROUGH THE LANDBANK. MORE ACQUISITION CASH TO BE RECEIVED WHILLE ALSO BOOSTING THE MARKET VALUES OF THE REMAINING LANDBANK WHICH WILL STILL BE LARGE. MOST IMPORTANTLY,THE DEVELOPMENT OF ITS SG LONG LAND WILL BE EPEDITED.

THE NEWS RELEASE IS ATTACHED HEREUNDER:

Master agreement on water restructuring to be revived
May 20, 2015
PUTRAJAYA: The Federal and Selangor governments have agreed to complete the restructuring exercise of the Selangor water supply industry within 60 days by reviving the Master Agreement.

“We both also agreed to complete the restructuring exercise within 60 days,” he said in a statement today.
Ongkili said with this latest commitment of the menteri besar, the Selangor government also promised to honour all the commitments made earlier to expedite the issuance of necessary approvals for permits and land required for the Langat 2 Water Treatment Plant and its distribution system.

kancs3118. AGREE WITH YOUR POINTS ON THE CURRENT SOFTER PROPERTY MARKET ESPECIALLY FOR HIGHEND SUB SECTORS. NEVERTHELESS, MY OPTIMISM IS BASED ON THE SUCCESSFUL LAUNCHES OF THE 7 ONGOING PROJECTS, ALL OF WHICH WERE REPORTED TO HAVE ACHIEVED THEIR HIGH TAKE UP RATES MAINLY DUE TO THEIR PRIME LOCATIONS AND THE GOOD TIMING OF THE LAUNCHES (BEFORE THE CURRENTSOFTER DEMAND CONDITIONS) THE SUCCESS OF THESE ONGOING 7 HIGH VALUE PROJECTS WILL STAND IN GOOD STEAD FOR SYMLIFE'S PERFORMANCES FOR THE NEXT FEW YEARS. EG, STAR RESIDENCES@KLCC LAUNCHED SEVERAL MONTHS BACK HAD ALREADY ACHIEVED ITS 80% TAKE UP RATE. IT BEEN LOCATED IN THE CITY CENTRE AND ITS PROXIMITY TO THE PRIME ICONIC KLCC PETRONAS TWIN TOWERS WILL HELP IT TO BE SUCCESSFUL IN THE LAUNCH OF PHASE TWO OF THE STAR RESIDENCES.

THE OTHER PLUS FACTORS SUPPORTING THE PROSPECTS AND CONTINUING PROFITABILITY OF SYMLIFE ARE ANCHORED IN THE FACT THAT ALMOST ALL ITS LARGE LANDBANK WERE OWNED AT VERY LOW COSTS COMPARED TO THEIR CURRENT MARKET VALUES. THEY THUS HAVE VERY FAT PROFIT MARGINS TO CUSHION THEM IN ANY SLOWDOWN IN THE PROPERTY MARKET.

HI AGAIN. HA HA. LOOKED INTO ITS BALANCE SHEET AS AT 31/12/2014 AND CONFIRMED U WERE RIGHT, I.E. THE TREASURY SHARES HAD ALREADY BEEN DISTRIBUTED EARLIER.

NEVERTHELESS, ITS RETAINED PROFITS AS AT 31/12/14 IS HUGE AT RM306.3 MILLIONS AND WILL BE HIGHER AFTER ADDING IN THE PROFITS FOR THE 4Q ENDING 31/3/2015. CAN I BE OPTIMISTIC FOR A BUMPER CASH DIVIDEND OR THE SAME 4 SEN LIKE LAST YEAR BUT SWEETENED WITH AN ADDITIONAL SPECIAL DIVIDEND OR EVEN A BONUS ISSUE TO REWARD SHAREHOLDERS ON ITS 50TH YEAR ANNIVERSARY!!!. IT WILL BE WONDERFUL AND THEY CAN AFFORD ALL THESE (NTA 2.10 + RETAINED PROFITS RM306M.

WHEN I SUGGESTED A POSITIVE CAPITAL MANAGEMENT (eg bonus issue ) EARLIER ON, I WAS OF THE OPINION THAT IT COULD BE AN EFFECTIVE CORPORATE ACTION PLAN TO EXPAND ITS SHARE CAPITAL BASE FROM ITS PRESENT RELATIVELY SMALLISH 310M (PAR RM1) TO ENHANCE THE LIQUIDITY OF ITS SHARES TO ATTRACT INSTITUTIONAL INVESTORS. WHEN LOCAL AND FOREIGN FUND MANAGERS LOOK FOR STOCKS TO INVEST IN, THEY ALWAYS CONSIDER ITS SHARE LIQUIDITY AS IMPORTANT. INSTITUTIONAL INVESTORS WILL ENHANCE THE CORPORATE IMAGE AND THE BRAND NAME OF SYMLIFE. IT DESERVES IT. THIS CAN PROPEL SYMLIFE TO JOIN THE FAMILY OF TOP PROPERTY DEVELOPERS.

hi, did i obtain the correct info?
but the following announcment + the 10,000 bgt in 2015 will add up to 398,329 retained as Treasury shares.


Notice of Shares Buy Back by a Company pursuant to Form 28A

SYMPHONY LIFE BERHAD

Date of buy back from

01/12/2014
Date of buy back to 01/12/2014
Currency Malaysian Ringgit (MYR)
Total number of shares purchased (units) 10,000
Minimum price paid for each share purchased ($$) 0.970
Maximum price paid for each share purchased ($$) 0.970
Total amount paid for shares purchased ($$) 9,752.91
The name of the stock exchange through which the shares were purchased Bursa Malaysia Securities Berhad
Number of shares purchased retained in treasury (units) 10,000
Total number of shares retained in treasury (units) 388,329
Number of shares purchased which were cancelled (units) 0
Total issued capital as diminished 0
Date lodged with registrar of companies 08/12/2014

LIKELY POSITIVE CATALYSTS TO DRIVE UP SYMLIFE'S SHARE PRICE AS IT DESERVES A MORE REALISTIC/FAIRER FAIR SHARE VALUE vis -a-vis ITS FUNDAMENTALS eg, CURRENT NTA 2.10, 9MTH PROFIT 39M, EPS 14.3 SEN, DEEPLY UNDERVALUED LANDBANKS.
SUCH CATALYSTS SHOULD INCLUDE :
1) A BETTER 4Q AND FULL YEAR RESULTS
2) HIGHER CASH DIVIDENDS + TREASURY SHARE DISTRIBUTION + POSITIVE CAPITAL MANAGEMENT LIKE BONUS ISSUE. LIKELIHOOD TO CELEBRATE ITS 50TH YEAR ANNIVERSARY.
3) ACTIVE AND PROGRESSIVE UNLOCKING THE VALUE OF ITS DEEPLY UNDERVALUED LANDBANK ASSETS.VIA ITS ONGOING AND UPCOMING PROPERTY DEVELOPMENT PROJECTS. GOT 7 ONGOING PROJECTS INCLUDING THE STAR RESIDENCES@KLCC, TWY@MONT KIARA, THE WHARF RESIDENCES TOWER28. ITS 3 UP COMING PROJECTS INCLUDE THE WHARF-RETAIL MALL, TAMAN TASIK PRIMA, PUCHONG, AND 51G K, SIGNAL HILL KK.
THESE DEVELOPMENTS WILL MONETISE ITS VALUABLE BUT DEEPLY UNDERVALUED LANDBANKS (I.E. TURN THEM INTO CASH PROFITSTO BRING UP THE MARKET VALUE OF ITS SHARES THEREBY REWARDING ITS SHAREHOLDERS

kancs3118. Will get more views n info from james70. thanks

Agreed. Warren Buffet, the world's most successful stock market investor advised against "timing the market". Difficult to accomplish. Hence after ascertaining its strong fundamentals, buying it when its share price is still low (undervalued relative to its present NTA 2.10 which is conservative based on the fact that many of its landbank assets in prime locations have not been revalued at all)can be the appropriate "entry price "investment strategy.
Read that it's huge and valuable land in Sg Long, KL/SELANGOR,is ready as it had recently paid the land conversion premium. Will get more details for sharing.

SYMLIFE . My positive views : the extraordinary gains on its disposals of non-core assets/businesses is a good strategy as it raised cash resources (to support its core business ops), reduced its gearing (thus saving interest costs), Will increase profitability, EPS and enhance its ROE, thus strengthening its financial fundamentals on top of its strong assets fundamentals (valuable landbanks which are (very undervalued.
All the right strategies supporting its sound financial & asset fundamentals.
Waiting for the CATALYSTS to rally its share price.I believe it has many potential catalysts.

SORRY . U DID MENTIONED THE 20 % SHARE HOLDINGS.
NEVERTHELESS, MAYBE WE CAN NOW LOOK AT THE POSITIVE SIDE OF CROSSHOLDING OF SHARES. HENCEFORTH THERE MAY NOT BE ANY MORE IMPACT OF ANY MARK TO MARKET ON THE BOTTOM LINE OF SYMLIFE (ALREADY DONE IN PREVIOUS QUARTERS' RESULTS AND SYMPHONY HOUSE'S SHARE PRICE HAS NOT VARIED MUCH NOR HAS ANY SIGNIFICANT DOWNSIDE. ON THE OTHER HAND, THE PRICE OF SYMPHONY HOUSE CAN RALLY ON ANY PROGRESS OF THE RTO FOR RANHILL (MORE FOR ITS WATER ASSETS).

SYMPHONY HOUSE'S FUNDAMENTALS ARE ALSO SOUND/STRONG AS INDICATED BELOW:


Symphony will be a very interesting share to be monitor in the coming days due to
- RTO process to Ranhill Energy & Resources Berhad
- Net cash position of RM 40m, and a possibly RM 65million after the sale of Symphony HRS
- Possible special dividend payout to shareholder
- Current cash value being 40% of the share price at RM 0.15
- Huge accumulation at the range of RM 0.20 and above


(BASED ON THE ABOVE, THERE ARE ALSO GOOD/POSITIVE UPSIDES FOR SYMLIFE'S SHAREHOLDINGS IN SYMYHONY HOUSE. SYMLIFE WILL BENEFIT A LOT IF SYMPHONY GIVES ITS SPECIAL DIVIDENDS. ALSO, ANY NEWS OF PROGRESS ON THE RTO WILL RALLY UP BOTH SYMLIFE'S AND SYMPHONY HOUSE'S SHARE PRICES.

ALL IN ALL, I REMAIN POSITIVE ON SYMLIFE WITH ALL ITS VERY UNDERVALUED LAND ASSETS IN PRIME LOCATIONS (NTA ALREADY 2.10 BEFORE REVALUATION), CONTINUING PROFITABLE RESULTS, MANY ON GOING PROJECTS, IT BEING GENEROUS IN REWARDING SHAREHOLDERS. LET'S BE OPTIMISTIC IN ITS UPCOMING 4Q/FULL YEAR RESULTS ANNOUNCEMENTS.

TQ

COMING BACK TO SHAREHOLDINGS. DO SYMLIFE OWN ANY SHARES IN SYMPHONY HOUSE?

HI, CANCS3118,
NICE TO EXCHANGE INFO TO SHARE OUT WHAT EVER WE CAN ONTAIN FROM MARKET SOURCES.
I ALSO BELIEVE THE PENANG PROJECT IN SURIN IS AN OLD PROJECT. BASED ON THE INFO I GOT IN APRIL 2014, THEY HAVE A 3.41 ACRES FREEHOLD LAND IN TANJUNG BUNGAH PULAU PINANG. (WILL TRY TO FORWARD THE DETAILS )

Changes in Sub. S-hldr's Int. (29B)

SYMPHONY LIFE BERHAD

Particulars of substantial Securities Holder

Name

Tan Sri Mohamed Azman bin Yahya
Address No. 1, Jalan Setiabakti 2
Damansara Heights
50490 Kuala Lumpur
NRIC/Passport No/Company No. 640108-03-5797
Nationality/Country of incorporation Malaysian
Descriptions (Class & nominal value) Ordinary Shares of RM1.00 each
Name & address of registered holder Gajahrimau Capital Sdn. Bhd. of Level 1, Symphony House, Pusat Dagangan Dana 1, Jalan PJU 1A/46, 47301 Petaling Jaya, Selangor Darul Ehsan
Details of changes

Currency: Malaysian Ringgit (MYR)

Type of transaction Date of change
No of securities
Price Transacted (RM)
Acquired 31/07/2013
50,000
1.150
Acquired 31/07/2013
25,000
1.160

Circumstances by reason of which change has occurred Acquired in the open market
Nature of interest Deemed Interest
Direct (units) 8,300,000
Direct (%) 2.81
Indirect/deemed interest (units) 57,300,000
Indirect/deemed interest (%) 19.43
Total no of securities after change 65,600,000
Date of notice 31/07/2013

Remarks :
The shareholdings after the change are as follows:-

Direct Interest:-
Tan Sri Mohamed Azman bin Yahya - 8,300,000 (2.81%)

Indirect Interest:-
Gajahrimau Capital Sdn. Bhd. - 57,300,000 (19.43%)

Notification was received by the Company on 31 July 2013.

Announcement Info
Company Name SYMPHONY LIFE BERHAD
Stock Name SYMLIFE
Date Announced 31 Jul 2013
Category Changes in Substantial Shareholder's Interest Pursuant to Form 29B of the Companies Act. 1965
Reference No SL-130731-21229

HI, DOUBLED CHECKED. I THINK THERE IS A MISCONCEPTION THAT SYMPHONY HOUSE OWNS SHARES IN SYMLIFE.(HENCE THE ERRONEOUS NEGATIVE IMPLICATIONS OF SYMPHONY HOUSE'S CURRENT RTO PROBLEMS) THIS IS INCORRECT. SYMHONY HOUSE DO NOT OWN ANY SHARES IN SYMLIFE. TAN SRI OWNS 65.6M (22.24%)SHARES IN SYMLIFE AND ARE BEEN HELD AS : 8.3M (DIRECT) + 57.6M (INDIRECT/DEEMED INTEREST HELD VIA GAJAHRIMAU CAPITAL S/B AS BENEFICAIL OWNER. SYMPHONY HOUSE IS ONLY THE REGISTERED ADDRESS OF GAJAHRIMAU CAPITAL.. I HAD VERIFIED THIS FACT FROM ITS ANNOUNCEMENTS TO BURSA.
HOPEFULLY THIS WILL HELP TO BOOST THE INVESTORS' CONFIDENCE IN SYMLIFE. ( I WILL TRY TO FORWARD THE CORRECT SHAREHOLDINGS TO SHARE OUT THE INFO)

HI, KANCS3118,

SYMLIFE DO HAVE A VALUABLE PIECE OF FREEHOLD LAND IN THE PRIME LOCATION OF TANJUNG BUNGAG, PENANG ISLAND ITSELF. WILL PROVIDE DETAILS OF IT LATER.ON MY RETRIEVAL.

MEANWHILE PLSE CLARIFY IF SYMPHONY HOUSE ITSELF IS HOLDING 20% SYMLIFE'S SHARES AND THIS 20% IS BENEFICIALLY OWNED BY DATO AZMAN YAHYA.. TQ

SYMLIFE AT THE CURRENT PRICE OF 0.84 IS VERY UNDERVALUED. Bonescythe.blogspot.com gave a very good/bullish analysis on 17 April 2014(can access therein for details). good fundamentals with good earnings (9 mth RM39m or EPS 14.3 SEN), low P.E.(SINGLE DIGIT), Solid NTA of 2.10, and has a good track record of rewading shareholders with bonus, treasury shares and cash dividends. Lots of undervalued landed assets in good/prime locations in the Klang Valley and Penang.+ many ongoing projects. Its share price could be poised to run up when they announce its 4Q/full year results in the next 2 weeks.Will be good if they also announce some capital management plans (like bonus/treasury shares distribution+ cash dividends to reward shareholders ) to unlock its value and enhance the market liquidity of its shares (small capital base of only 310m shares of RM1 par vaue.)

TRUE. DEVELOPERS WITH DIVERSIFIED LAND ASSETS,( ESPECIALLY IN THE 2 TOP PROPERTY LOCATIONS, KL/KLANG VALLEY AND PENANG,) WILL BE MORE RESILIENT THAN THOSE PURE ISKANDAR PLAYERS. BUT INVESTORS' SENTIMENTS ARE STILL BEING AFFECTED DUE TO THEIR SIGNIFICANT EXPOREURES IN ISKANDAR. LESS AFFECTED BUT STILL AFFECTED AS INDICATED BY THE 2 BANK ANALYSTS' REPORTS CITED ABOVE.

THE RECENT SERIES OF REPORTS ON THE PROPERTY GLUT CONTINUES TO AFFECT INVESTORS' SENTIMENTS FOR PROPERTY SHARES WITH EXPOSURE TO ISKANDAR JOHOR:-


Fundamentals of UEM Sunrise intact despite foreign selldown: MIDF 14 MAY 2015 @ 5:39 PM KUALA LUMPUR: MIDF Amanah Investment Bank (MIDF Investment) believes UEM Sunrise Bhd’s fundamentals remain intact, despite a recent selldown by foreign investors to rebalance their investment portfolio. At 11.51 am, shares of the company declined five sen to RM1.22 with 9.77 million changing hands. MIDF Investment in a research note today said the selldown is believed to be related to concerns over the challenging property market outlook in Johor. It said due to the selldown by foreign investors, UEM Sunrise had been removed from the MSCI Malaysia Index, the benchmark index for measuring investment performance by international investors. However, it said the fundamentals of UEM Sunrise remained strong with unbilled sales of RM3.9 billion as of end-financial year 2014, which would provide more than two years of earnings visibility and hence, support the company’s financial year 2015 net profit. As for new sales, the research house is keeping its estimate of RM1.95 billion for financial year 2015, lower than UEM Sunrise management’s target of between RM2 billion and RM2.4 billion, and maintained the net profit forecast of RM491 million. MIDF Investment is “neutral” on UEM Sunrise with an unchanged target price of RM1.35. – Bernama RECOMMENDED Thousands volunteer to scour satellite images of Nepal quake Inmates need a second chance Mt. Everest height unchanged Mother of death row Australian says he’ll be executed at 1700 GMT PROMOTED STORIES Where do your government tax dollars go? (EY) How a Sydney grad became an ICBC leader (The Naked CEO) What does your body language say about you? (The Naked CEO) 5 Top Restaurants Malaysians Queued Up For In 2014 (HungryGoWhere) Ringgit Now Asia’s Worst Performing Currency (Imoney) How Early Retirement Feels Like - (Doctor Wealth)

Read More : http://www.nst.com.my/node/84274

NEGATIVE REPORTS ON HOUSING GLUT ON ISKANDAR CAN DAMPEN INVESTORS' APPETITE FOR SHARES/COUNTERS WITH EXPOSURES IN THIS REGION:

Thursday, 14 May 2015 16:59
NO GLUT? Johor's Forest City could house up to 700,000 - developer
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NO GLUT? Johor's Forest City could house up to 700,000 - developer
THE master developer for the 1,400ha reclaimed land in Johor near Tuas said that over the next 20 or 30 years, homes may be built that can house as many as 700,000 people.
The homes being built in the Forest City project would add to the nearly 336,000 new residential units that are in the pipeline for the rest of Johor state.
The large number of new homes coming up in Johor has raised concerns in Singapore.
Minister for Culture, Community and Youth Lawrence Wong, who is a board member of the Monetary Authority of Singapore, told Parliament on Monday that the nearly 336,000 new private residential units are more than the total number of private homes in Singapore.
He said the figure, derived from official Malaysian statistics, does not include homes being built on the Forest City reclaimed land.
Johor had 719,421 existing homes at the end of last year, according to Malaysia's National Property Information Centre, a unit under its Ministry of Finance.
"There is indeed a real concern about future oversupply in the property market there and hence the potential decline in value of homes," Mr Wong said in reply to an MP's question about Singaporeans buying in southern Johor's Iskandar Malaysia region.

Johor Menteri Besar Mohamed Khaled Nordin, when asked last week about concerns in Singapore over a property glut in Iskandar, said: "Investments in Johor are not only confined to property."
The reclaimed Forest City project consists of four man-made islands being raised by a company partly owned by the Sultan of Johor.
Forest City will offer wealthy international buyers luxury homes by the Strait of Johor, its developer has said.
The four islands will have a total land area of 1,386ha - about three times the size of Sentosa island. Forest City's master developer is Country Garden Pacificview (CGPV). - Asiaone

COULD BE AFFECTED BY NEGATIVE REPORTS OF GLUT OF HOUSES IN ISKANDAR, JOHOR. SUCH BEARISH REPORTS CAN DAMPEN INVERTORS' SENTIMENTS FOR PROPERTY SHARES WITH HIGH EXPOSURE TO ISKANDER AREA. EG,

Valuation
We reiterate our MARKET PERFORM call on TROP with an unchanged Target Price of RM1.10 based on 72.0% discount (one of the steepest discounts applied under our coverage) to its FD RNAV of RM3.91, due to its large risk exposure in Johor, and larger higher-end high-rise components in their developments. At this juncture, downside risks are limited given the steep discount rate, whilst near term re-rating catalyst is lacking.

Risks to Our Call
Weaker-than-expected property sales

Higher-than-expected sales and administrative costs

Negative real estate policies

Tighter lending environments

i think 91 is NOT a fraction. Hence u will get your 91 share as dividend. but if u have 7100 shares your entitlement is computed to be 92.3, then u will get only 92 shares bcos the 0.2 of 1 share is a fraction.

WE ARE OPTIMISTIC FOR EURO'S PROSPECTS BASED ON :-
(1) EXPECTED BETTER 1Q RESULTS FOR 1Q TO BE ANNOUNCED THIS MONTH
(2) FAST TRACKING OF ITS MULTIPLE PROPOSALS ESPECIALLY ITS 2 FOR 1 BONUS ISSUE i.e. 1 shares becomes 3 shares + ITS PRIVATE PLACEMENTS OF SHARES.(SPEEDY SUBMISSION WITHIN 1 WEEK OF THE ANNOUNCED PROPOSALS)


(COLLECTIVELY REFERRED TO AS THE "PROPOSALS")
We refer to the announcement dated 29 April 2015 in relation to the Proposals (“Announcement”). Unless otherwise defined, the definitions set out in the Announcement shall apply herein.

On behalf of the Board, TA Securities wishes to announce that the additional listing application for the Proposals has been submitted to Bursa Securities on 7 May 2015.

This announcement is dated 7 May 2015.

(3) ITS MAIDEN PROPERTY DEVT PROJECT IN CHERAS IS VERY PROMISING. BASED ON ITS 322 APARTMENT WITH AN EST. GDV OF RM165M MEANS ITS AVERAGE SELLING PRICE IS A ATTRACTIVE RM512K PER UNIT. FREEHOLD TITLES. SHOULD BE SALEABLE AND TO BE ABLE TO GENERATE AN EST PROFIT OF RM25M IS COMMENDABLE. THIS IS FEASIBLE DUE TO THE CHEAP LAND COST (4.031 ACRES ACQUIRED IN 2011 FOR RM7M ONLY)
(4) THE PROSPECTS OF MORE PROPERTY DEVT PROJECTS
(5) OVERALL THE PROSPECTS FOR EURO CAN ONLY BE POSITIVE

FROM THEIR OFFICIAL ANNOUNCEMENTS VIA BURSA PLUS ANALYSTS' COMMENTARIES VIA VARIOUS FINANCE BLOGS. EURO HAD JUST RELEASED THE :-
Type Announcement
Subject MULTIPLE PROPOSALS
Description EURO HOLDINGS BERHAD ("EURO" OR THE "COMPANY")

(I) PROPOSED PAR VALUE REDUCTION;
(II) PROPOSED BONUS ISSUE OF SHARES;
(III) PROPOSED PRIVATE PLACEMENT; AND
(IV) PROPOSED AMENDMENT

(COLLECTIVELY REFERRED TO AS THE "PROPOSALS")
We refer to the announcement dated 29 April 2015 in relation to the Proposals (“Announcement”). Unless otherwise defined, the definitions set out in the Announcement shall apply herein.

On behalf of the Board, TA Securities wishes to announce that the additional listing application for the Proposals has been submitted to Bursa Securities on 7 May 2015.

This announcement is dated 7 May 2015.

THE BOARD HAS SHOWN ITSELF TO BE COMPETENT IN THE IMPLEMENTATION OF THEIR MULTIPLE PROPOSALS. WHEN THEY ACTIVATED THEIR CORPORATE PLANS TO DIVERSIFY INTO PROPERTY DEVT. ON 29/4/15, THEY INDICATED THEY WILL SUBMIT THEIR PROPOSALS WITHIN A MONTH, I.E. BY 29/5/13. BUT THEY HAD ALREADY DONE DONE THE ABOVE TODAY.

MEANWHILE WE HOPE TO RECEIVE FURTHER GOOD NEWS IN THE FORM OF BETTER 1Q RESULTS DUE TO BE OUT THIS MONTH (BASED ON THEIR EXISTING FURNITURE MANUFACTURING & EXPORT BUSINESS).

CHEERS!!!

We are presently focussed on the current multiple proposals.
The housing project in Cheras is almost ready to take off (just waiting for the land conversion approval) It was indicated that the project is to be launched in the 2H of this year.

At the moment we are NOT including the prime 300 acres freehold lands in Beverly Heights Properties S/B (inclusive of the 19 acres Pepper Estate) in North Eastern Region of Penang (owned by the 2 dtors/major shareholders. Hopefully this will feature in any FUTURE corporate action plans of Euro.

Property devt needs medium to long term business strategies. It is a profitable business which can help Euro to evolve into a HIGH GROWTH COMPANY.This is what we looking for when investing.

While the practical concerns raised in developing Pepper Estate are valid, we should also note that the current Directors are already very experienced in property devt & construction.There is also a business tie up with OXLEY Holdings,(Spore SGX Main Board listed). Euro's directors should have the technical competencies and experience to manage/overcome any concerns that may be encountered. However these are only relevant after Beverly Heights Properties are included in any Future Corporate Agenda by Euro's Board. We can discuss this when it happens.

These are facts :-

(1)the required Development Order for the housing project in Cheras had already been approved/obtained on 22/1/2015
(2)The est. gross devt value of RM165M and its total est.devt costs of RM140M are the LATEST figures provided by Eoro's Management as announced. These figures would be based on the CURRENT market conditions/benchmarks
(3) The 3 year gestation period for any housing project is the norm. Investors are aware of this

TQ

ECOWORLD BECAME A GREAT GROWTH STOCK BY DIVERSIFYING INTO PROPERTY DEVT.

EURO IS FOLLOWING ECOWORLD'S WAY.
EURO WILL ALSO HAVE ITS DAY WITH MORE PROPERTY PROJECTS (BY WAY OF BOTH ORGANIC GROWTH THROGH ITS OWN LANDED ASSETS WHICH HAVE NOT BEEN REVALUED AND ACQUISITIONS/MERGERS)

IMPORTANT TO NOTE :-
(I) For avoidance of doubt, the Proposed Par Value Reduction will not result in any adjustment by Bursa Malaysia Securities Berhad (“Bursa Securities”) to the Share price or the number of Shares held by shareholders of the Company.
(2)that the Proposed Private Placement will enable the Group to raise funds without incurring interest cost as opposed to bank borrowings. In addition, the Proposed Private Placement will further strengthen the capital base on the Company.
(3)Euro's profit in 2014 was RM2.3M. Its maiden property project wil generate a profit of RM25M.
(This incremental profit is 10 times more last's year's profit)

ALL THE RIGHT MOVES BY EURO'S MANAGEMENT

(diversification into property devt to turn Euro into a GROWTH STOCK)

MY OWN CONCLUSIONS ON EURO'S MULTIPLE PROPOSALS:

POSITIVE BASED ON :
SHAREHOLDERS ARE BEING REWARDED WITH BONUS SHARES

TOGETHER WITH ITS PROPOSED PRIVATE SHARE PLACEMENT TO QUALITY INVESTORS, ITS CAPITAL BASE WILL BE FURTHER STRENGTHENED

EURO SHARES WILL BECOME MORE LIQUID, THUS ATTRACTING MORE INVESTORS, PARTICULARLY INSTITUTIONAL INVESTORS WHOSE PRIME INVESTING CRITERIA ARE THE LISTED COMPANY'S VALUE/POTENTIAL ENTERPRISE VALUE AND ITS SHARE LIQIUDITY IN THE STOCK MARKET.

EURO IS DEFINITELY ON TRACK IN ITS DIVERSIFICATION INTO PROPERTY DEVELOPMENT WHICH WILL ENABLE IT TO SIGNIFICANTLY ENHANCE ITS REVENUES AND PROFITS.

THE ENHANCED LIQUIDITY OF ITS SHARES WILL STRENGTHEN ITS CAPACITY TO ISSUE ITS SHARES FOR ANY FUTURE CORPORATE PROPOSALS (EG ACQUISITIONS)

EURO: MULTIPLE PROPOSALS: EXTRACTS OF SALIENT POINTS
=====================================================
The Proposed Par Value Reduction will give rise to a credit of RM32,400,000 after taking into consideration the existing issued and paid-up share capital of RM40,500,000 comprising 81,000,000 Euro Shares as at 28 April 2015, being the latest practicable date prior to this announcement (“LPD”). The total credit arising from the Proposed Par Value Reduction will be credited to the share premium of the Company and may be utilised in such manner as the Board deems fit and as permitted by relevant and applicable laws such as paying up unissued shares to be issued to the shareholders of the Company as fully paid bonus shares. The Proposed
Par Value Reduction is not intended to offset any accumulated losses of the Company. As at 31 December 2014, the Company had audited retained earnings and share premium of approximately RM3.76 million and RM3.84 million, respectively. For avoidance of doubt, the Proposed Par Value Reduction will not result in any adjustment by Bursa Malaysia Securities Berhad (“Bursa Securities”) to the Share price or the number of Shares held by shareholders of the Company.

Proposed Bonus Issue of Shares
of 162,000,000 new Euro Shares (“Bonus Shares”) on the basis of two (2) Bonus Shares for every one (1) existing Euro Share held at an entitlement date to be determined later after the Proposed Par Value Reduction

After due consideration, the Board is of the view that the Proposed Bonus Issue of Shares is the most appropriate avenue of rewarding the existing shareholders of the Company as the Proposed Bonus Issue of Shares will: (i) reward the existing shareholders of the Company for their loyalty and continuing support; 7 (ii) increase the number of Euro Shares held by the Company’s existing shareholders, whilst maintaining their percentage of equity interest; and (iii) be able to encourage the trading liquidity of Euro Shares on Bursa Securities via a greater participation by investors with the increase in the number of shares.

Placement arrangement
After due consideration of the various methods of fund raising available for the purposes as stated in Section 2.3.6 above, the Board is of the opinion that the Proposed Private Placement is currently an appropriate avenue of fund raising as it will enable the Group to raise funds without incurring interest cost as opposed to bank borrowings. In addition, the Proposed Private Placement will further strengthen the capital base on the Company.

In addition, the independent third party investors shall be persons who qualify under Schedules 6 or 7 of the Capital Markets and Services Act, 2007, which include interalia, the issuance of the Placement Shares to each of them for a consideration of not less than RM250,000 or the issuance is made to high net worth individuals whose net personal assets exceed RM3,000,000 or corporations with net assets exceeding RM10,000,000.
The proceeds for the working capital will be utilised to fund the Group’s property development activities such as payment to sub-contractors, relevant professional and marketing fees (if any). The Company had on 27 June 2011 obtained the approval from its shareholders to diversify into the property development business. On 18 May 2011, Euroland & Development Sdn Bhd (“Euroland”), a wholly-owned subsidiary of the Company entered into a sale and purchase agreement to acquire a piece of freehold land held under G.M 974, Lot No. 2223, Mukim of Cheras, District of Hulu Langat, State of Selangor measuring approximately 1.6314 hectare or 4.031 acres (“Land”) from Yap Tong Feng for a cash consideration of RM7.0 million (“Acquisition”) with a plan to develop the Land into a residential development. The Acquisition was completed on 26 September 2011. The residential development is expected to comprise a block of 322 units of apartment (“Project”). The estimated gross development value and total estimated development cost for the Project is approximately RM165.0 million and RM140.0 million respectively. Euroland had on 22 January 2015 obtained the development order from Jabatan Perancangan Bandar Majlis Perbandaran Kajang for the Project and had in April 2015 submitted an application to Jabatan Perancangan Bandar Majlis Perbandaran Kajang for the conversion of land for the Project from “agriculture” to “building” and is pending for approval as at the LPD.

(gross development value RM165M less total est. development cost of the project RM140M = est. profit RM25M)
============================================================
(READERS WILL BE ABLE TO OBTAIN THE COMPLETE VERSION OF EURO'S MULTIPLE PROPOSALS FROM ANNOUNCEMENT VIA BURSA)

GIVING BONUS SHARES TO SHAREHOLDERS IS PART OF THE ANNOUNCED MULTIPLE PROPOSALS.(ITEM 2)
THE DECLARATION OF BONUS SHARE ISSUE IS POSITIVE. NEVERTHELESS THE DAILY MOVEMENTS OF SHARE PRICES ARE INFLUENCED BY MANY FACTORS, INCLUDING THE COMPANY ANNOUNCEMENTS, MARKET NEWS, THE CONDITION OF THE STOCK MARKET ON ANY PARTICULAR DAY. YESTERDAY'S EURO'S PRICE WAS DOWN DESPITE ITS POSITIVE PROPOSALS. BUT BURSA WAS ALSO DOWN A LOT (-25 PTS OR 1.4%) ON THE SAME DAY.

THE MULTIPLE PROPOSALS ARE POSITIVE, WITH ITS FINANCIALS/FUNDAMENTALS REMAINING INTACT AND IN FACT STRENTHENED BY SUCH CAPITAL MANAGEMENT, I AM OPTIMISTIC EURO IS ON TRACK IN ITS BUSINESS DIVERSIFICATION PLANS INTO PROPERTY DEVELOPMENT.
I EXPECT ITS 1Q RESULTS (TO BE RELEASED THIS MONTH) TO BE BETTER. I AM ALSO LOOKING FORWARD TO THE LAUNCHING OF ITS MAIDEN PROPERTY PROJECT IN CHERAS SOON (TO BE FOLLOWED BY MORE PROPERTY DEVT RELATED NEWS IN FUTURE)
I BELIEVE SOUND BUSINESS GROWTH PLUS INCREASING PROFITABILITY WILL ENHANCE THE VALUE OF EURO AND HENCE ITS SHARE PRICE..