If we look at the 2014 annual report, their focus right now is to finish DaMen(44% completed), Galleria(12% completed) and Springville Residence(21% completed). These 3 projects with a GDV of RM1.54B and Gross Development Cost of RM1.285B are in the initial to mid stages and will complete by 2015 save for the Galleria. My thoughts on the delay of the Batu Kawan project launch is so that they can conserve their limited capital and wait for further land bank price to appreciate. Once the groundbreaking ceremony for IKEA commences, GOB will channel their focus here.

http://www.bursamalaysia.com/market/listed-companies/company-announcements/1698941

What a pleasant surprise. I thought they had fully disposed off their stake in CESB. With this additional sale, the total one off gain amounts to RM26.4M or 9.3sen/share. Furthermore Symlife's balance sheet is furtter enhanced by RM63.8M resulting in a lower net gearing of 17% from 28% previously.

Excellent run today. The later OLH announces his plans the better it is for PJDev since they will be registering record earnings from the 2 one off transactions and also better progressive collection from the property development.

Looks like it is going to run a lot higher. The stock shows steady accumulation by big guys.

Frankly, I was a little disappointed with the quality of the article. It basically tells about OLH's plan to consolidate his property assets under 1 vehicle probably OSK by taking over PJDev and OSKProp after selling his stake in RHBCap which is already known to most.

What most people would like to know is how will he go about accomplishing it with his different % stake in all 3 companies. How much will he offer each target company to be successful? All these were not addressed.

Not a bad deal for Symlife. Selling a 15.81% stake in a jointly controlled entity for RM56.2M. So this would further beef up their coffers and reduce their gearing to 18%. From the profit standpoint, this would yield them a RM23.2m profit or +8.2sen in the EPS.

Firebird2, as it is Symlife has lots of potential and is deemed rather under valued. I hope PublicInvest Research will come out with a write up on it soon as it did for SAB. The latter's price skyrocketed once they started covering it.

SHL's Sg Long land is worth RM130/sqft per the writeup below. Now, weren't we just discussing using the RM88/sqft benchmark. At RM130/sqft, you do the math. No wonder PublicInvest did highlight to buy some smallcaps like Symlife.

Read this http://klse.i3investor.com/blogs/PublicInvest/56371.jsp

160-acre golf course land in Bdr. Sg. Long. The group owns about 433 acres landbank (for property development purpose) in Selangor, Negeri Sembilan spanning across Bdr. Sg Long (48 acres), Semenyih (118 acres), Alam Budiman, (20 acres), Rawang, (10 acres), Batang Kali (88 acres), Serendah (48 acres) and Parit Tinggi (101 acres). However, the most interesting part is its 160-acre golf course land in Bdr. Sg. Long, sitting on a book value of RM18 psf. Management has earlier hinted its interest of redeveloping and monetizing the golf course one day. Based on the market value of RM130 psf, we believe this piece of land could be worth at least RM900m given the matured township status in Bdr. Sg Long. We also understand that its limited memberships would make it easier for the company to redevelop the golf course land anytime in the future. Currently, we think its land bank and properties stand at a market value of not less than RM1bn and could potentially double to RM2bn (if the redevelopment plan starts to kick in), which is a far cry as compared to its current market capitalization of RM561m.

http://www.thesundaily.my/news/1120158

The FBM Mid70 laggards; YTL Power International Bhd, Mudajaya Group Bhd, Kossan Rubber Industries, DRB-Hicom Bhd, Pos Malaysia Bhd and Air Asia X Bhd, and amongst the FBM Small Cap laggards; Can-One Bhd, Eversendai Corp Bhd, Cypark Resources Bhd, ECM Libra Financial Group Bhd, Symphony Life Bhd and Puncak Niaga Holdings Bhd.

The going price is RM300/sqft for Cheras commercial land. Symlife owns a 10.6acre parcel valued at only RM9.03M which is about RM19.6/sqft. At RM300/sqft, this piece is valued in the region of RM138.5M but it could higher because of the proximity to Tesco or RM0.45sen/share.

From RHB stock trading outlook:

Symphony Life may trend higher after its latest climb above the MYR1.07 levels. A bullish bias may be present if the stock holds above the MYR1.07 level, whereby traders may buy. The target price is set at MYR1.19, followed by MYR1.30. Failure to maintain above the MYR1.07 level may see the stock fall back to its sideways trend. Support may be found at MYR1.02, whereby traders may cut
losses upon a breach on closing.

I think the interest is coming from the SYF transaction for the Sg Long Cheras land in which they will pay RM31.08m to the landowners for the 8.09375 acre 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.

You can see why Symlife is generating some interest.

PJD investing in more projects (from the Business Times)
7 July 2014 @ 11:52 PM

PJ Development Holdings Bhd (PJD), in which veteran stockbroker Tan Sri Ong Leong Huat has a majority stake, is actively scaling up its property investment portfolio to boost recurring income.

The property group is working on seven projects comprising hotels and residences, with gross development value of more than RM1.2 billion.

PJD is building Swiss-Garden Residences Sungai Karang and Damai Laut Sea Villa, both in Kuantan, Pahang; D’Majestic serviced apartments in Kuala Lumpur; Swiss-Inn Johor Bahru; and Swiss-Garden Hotel & Residences Cameron Highlands, which it will wholly own.

It will also operate Swiss-Garden Hotel & Residences Malacca and Pavilion-Garden Suites in Kota Baru, Kelantan, under a management contract for third parties.

All the properties, when completed, will be parked under Swiss-Garden International Hotels, Resorts & Inns, the leisure division of PJD.

According to Swiss Garden International general manager, Jimmy Chow, the leisure division will have 3,300 rooms by the middle of next year, 50 per cent more than the current level.

The additional rooms will come with the opening of the properties in Sungai Karang, Pudu, Johor Baru and Malacca within the next six to nine months.

Chow said in the next five years, the division will add 1,500 rooms, bringing the total number of rooms to 4,800.

This is from the opening of Swiss-Garden Hotel & Residences Cameron Highlands, Damai Laut Sea Villa and Pavilion-Garden Suites in Kota Baru.

“We are still in the league and will keep on growing and expanding,” Chow told Business Times, in an interview, here, recently.

Swiss Garden International currently owns and operates nine hotels and resorts in Kuala Lumpur, Perak, Pahang, Kedah and Australia.

It also has two such assets under management contracts in Penang.

Chow said all the properties are profitable and contributing positively to the earnings of PJD.

For the nine months to March 31 this year, PJD recorded a net profit of RM75.86 million on revenue of RM705.5 million.

The leisure division recorded a net profit of RM10.45 million on revenue of RM93.96 million.

PJD investing in more projects (from the Business Times)
7 July 2014 @ 11:52 PM

PJ Development Holdings Bhd (PJD), in which veteran stockbroker Tan Sri Ong Leong Huat has a majority stake, is actively scaling up its property investment portfolio to boost recurring income.

The property group is working on seven projects comprising hotels and residences, with gross development value of more than RM1.2 billion.

PJD is building Swiss-Garden Residences Sungai Karang and Damai Laut Sea Villa, both in Kuantan, Pahang; D’Majestic serviced apartments in Kuala Lumpur; Swiss-Inn Johor Bahru; and Swiss-Garden Hotel & Residences Cameron Highlands, which it will wholly own.

It will also operate Swiss-Garden Hotel & Residences Malacca and Pavilion-Garden Suites in Kota Baru, Kelantan, under a management contract for third parties.

All the properties, when completed, will be parked under Swiss-Garden International Hotels, Resorts & Inns, the leisure division of PJD.

According to Swiss Garden International general manager, Jimmy Chow, the leisure division will have 3,300 rooms by the middle of next year, 50 per cent more than the current level.

The additional rooms will come with the opening of the properties in Sungai Karang, Pudu, Johor Baru and Malacca within the next six to nine months.

Chow said in the next five years, the division will add 1,500 rooms, bringing the total number of rooms to 4,800.

This is from the opening of Swiss-Garden Hotel & Residences Cameron Highlands, Damai Laut Sea Villa and Pavilion-Garden Suites in Kota Baru.

“We are still in the league and will keep on growing and expanding,” Chow told Business Times, in an interview, here, recently.

Swiss Garden International currently owns and operates nine hotels and resorts in Kuala Lumpur, Perak, Pahang, Kedah and Australia.

It also has two such assets under management contracts in Penang.

Chow said all the properties are profitable and contributing positively to the earnings of PJD.

For the nine months to March 31 this year, PJD recorded a net profit of RM75.86 million on revenue of RM705.5 million.

The leisure division recorded a net profit of RM10.45 million on revenue of RM93.96 million.

Good luck to you on your purchase. Hope all shareholders will prosper.

You're welcome.

From the looks of it, it appears very likely that PJDev will be privatized. Most of these major shareholders have only 1 thing in mind which is how to maximize their gains. By taking PJDev private, he will be able to consolidate all the property businesses under one umbrella and float it again later as IOIProp did. He will be able to make money this way. He will also be able to float the cable business which is profitable.

Now what is the premium for this exercise? Your guess is as good as mine but looking at the past trends in his offer for OSKVI and OSK, the premium is < 5% of the prevailing market price. But since he only has 30% of PJDev, the likelihood of successfully taking PJDev private is rather slim. So perhaps a generous offer for the remaining 70% is about to be launched. A 20% premium to the current mother share say at RM2.10 will propel the warrants to RM1.10. So good times ahead for warrant holders.

OSK to sell RHBCap to CIMB and use the proceeds to privatise PJDev? Looking at how both shares are moving, this could be the case.

OSK to sell RHBCap to CIMB and use the proceeds to privatise PJDev? Looking at how both shares are moving, this could be the case.

OSK to sell RHBCap to CIMB and use the proceeds to privatise PJDev? Looking at how both shares are moving, this could be the case.

EcoWorld story in the Star bagi Ecoboost to Malton and GOB.

Probably some fund exiting. Sunway is somehow not highly regarded by the investment banking community with the higher discounts assigned to its fair value.

Sunway is launching their 1st phase of Iskandar township next month. http://www.todayonline.com/business/iskandar-reaching-critical-mass-investments-rise

Hmmm.. we seem to have earnings lift off. Countdown to share price lift off malfunctioned. :P

We have lift off!

Agreed Icon. This does not even account for the PJT guaranteed profit and future launches of Batu Kawan. Looks like it is going to be a pricey rights issue.

excellent! unbelievable!

OneMillion = rich_trader = pro_trader = Icon888 = Icon88888 = jamess70

I agree. In the long run, Pantech should have no problem surpassing the RM1.50 mark.

Pantech has a very bright future with Pengerang going full steam ahead. I have yet to take a position but will soon. Over the weekend, there was a nice writeup in the Star and today RHB has issued a glowing report on Pantech.

He is the owner of his actions. When he sows hatred and spreads malicious lies, it will boomerang and hit him when he least expects it.

i actually know who this fella is. He used to go by the name OneMillion. They when he got found out he changed nick to Rich_Trader. When I exposed him, he changed his nick to all the james70 permutations. His latest nick is pro_trader.

Very nice upward movement this morning. Looks like it is heading to the RM1.17 target per http://klse.i3investor.com/blogs/trendfollowingmalaysia/52287.jsp

Many thanks for your generous offer to the I3 members.

From the accumulation distribution chart, it appears that they are going to seriously push up the shares.

thanks Icon. Will forego getting it.

AhMoi, refer to my previous replies stating that the warrants are valued in the region of RM0.25-RM0.35 when it is listed. So I am vindicated.

Icon, how much is written on it?

Congrats to those who bought the AZRB-or all the way to 35sen and exercised it (73sen*2+30.5sen-35sen*2-50sen*2=6.5sen). If you had bought the AZRB-or at 24sen, you are now sitting on a bigger profit of 28.5sen. I foresee the warrant touching 35sen this afternoon.

you are the owner of your actions rich_trader=OneMillion and ultimately your karma. you'll reap what you sow.

you are the owner of your actions rich_trader=OneMillion and ultimately your karma. you'll reap what you sow.

The LMC homes obligation have been fulfilled as I understand having spoken to the sales person when I visited the gallery on 12Apr. Those homes are not the flats and apartments you are referring to.

GOB was completing the low cost component of the Batu Kawan projects which could explain the poor or negative margin in 2012.

Domain Resources, a wholly owned sub of Malton was appointed the contractor for DaMen. Refer to the 2 ARs.

I just came across these numbers from the 2012 and 2013 Malton AR. Profit to be recognized is still not too shabby at RM112.5m. But the interest expense is a lot higher now at RM14.25m vs RM7.7m projected initially.

RM297m is for the superstructure. RM128m for the foundation and base structure.

Likewise Icon. Investing is long term. So to know what you are putting your money in is important. I must admit my knowledge has increased a lot after reading your posted articles. Thanks and Cheers!

The foundation and substructure works on DaMen was only recently completed(end 2013). According to the contractor Domain Resources, DaMen will only complete by Q3 2015. The total cost of this contract is RM297m. As discussed with Icon earlier, it is unlikely that GOB will book such a high profit at one go. As they progress the construction, they will be paid and book that as a profit. As of today, they have completed 3-4 storeys of the building. I think we can look forward to increased revenue and profit in the coming quarters.

Rich trader = OneMillion. He was the scaremonger saying GOB with the rights issue and par value reduction, GOB share price will also drop significantly. When all the facts came out to prove he was wrong, he deleted his messages. He changed his nick to Rich trader and stopped using OneMillion.

hi OneMillion, back at GOB now?

PJDev-WC is my current largest holding. Thanks for the writeup.

I bought more after I visited their sales gallery at Batu Kawan on 12Apr. That coincided with the RHB report. The buy and hold strategy for this will be handsomely rewarded.