Hopefully, can hot RM0.90 by this month

I heard Gadang stands to win not one, but two MRT packages !

When gonna break $0.90?

Malton = goreng stock...owner love to goreng and give shitty dividend...
SymLife = dividend
2014 = $0.05
2015 = $0.04
2016 = $0.02
2017 = ?? maybe $0.06

Hopefully, Symlife can breach RM0.90 this week

Hopefully, Symlife can breach RM0.80 this week

RM2 is my expected TP price

@ nemesis, beware of Desmond Lim ...he has no respect for the share price of his own companies ...

@ azlan 88_ long time no see...are you still holding on to Symlife ?

Amazing set of results

@ nemesis, hope you are right for both of our sake.

Quarterly results have not yet been released ....mmm...maybe they have got something to hide ??

apa macam itu punya quarterly results belum keluar lagi?

can't wait for the quarterly results

very the kin-cheong...tomorrow is Quarterly Results releae...

i suspect this mini run up is a precursor to winning the MRT project...

selling pressure

Good close...good close....

welcome aboard, Mr Charles T.
The main contributor for the RM1,0B unbilled sales come from The Star project in KLCC. The average land cost pqsf for The Star project is slightly lesser than RM500 psqf. Now, they are selling at about RM1800 pqsf. In addition, The Star project is a super high dense project whereby each Retail Tower packs more than 300 units. This means extremely high revenue from selling these "show boxed" condo. Hence, you can imagine how much is the profit margin for this project.

Just remember that the take up rate for The Star Tower 2 is hitting 70%. It is the ONLY project in KLCC that is still selling like hot cakes. For RT3, they are in the early stages of discussion with a service operator to take up 50% of RT3.

Then, you have Union Suites with GDV of RM400M. Tan Sri has always mention that he will only launch a project when he is confident the take up rate will hit 80%. So far, he is correct for TWY Mont Kiara and Star Residences.

Being a Chartered Accountant by profession, I like Tan Sri's style as an aggressive yet prudent manager.

where got? still stuck at RM0.72....

@ nemesis ....the unbilled sales of $1.3B does not include the RT3 of Star Residences . during the AGM , it was mentioned that SymLife is arranging with a service operator to sell 50% of RT3. If you include RT3 inside SymLife' billed sales, it should be RM1.8B....assuming both Union Suite and RT3 is fully sold...

Dunno when they will launch Union Suites ....if assuming 90% take up rate, hence unbilled sales can easily hit RM1.3B

Hopefully lar...

Slowly coming from the dead ...

with an unbilled sales of RM1B - assuming a net profit margin of 20% realized over 4 years, each year, net profit will be RM50M.

This is already 25% of today's market cap (at share price of RM0.65).
Significantly undervalued !!

Let us talk facts here .... If directors dispose, they need to make announcement in Bursa ...

Got announcement meh ??

Gadang forum becomes a market place

@ jazzlee, never mind lar....can use tongue mah ....ever heard of cunninglingus?? Also, can use finger ....

@ stockmanny - time to cut your Xiao di di....don't eat your words leh....

Actually, if Gadang can team up with Symphony Life to co-develop Sungai Long, then it will be a marriage made in heaven .

Qtr results should be out either Wed or Thurs ...

Qtr results when released ?? Adui....I think next year liaw ...

walau....when will they release the quarterly results? tengah suspense ni..

aiyohh....but next week is CNY lar...I think either tomorrow or Fri.

Hi all; when will Gadang release the quarterly results?

volume keeps on going up...

Refer to my posting....if you are willing to wait for one to years, the price can easily scale RM1.20

I don't need to pray....data is all at my side

Icon8888, ...you got buy back ? I thought you have transfer all in to AirAsia

@ TKSW sifu....you want Stockmanmy to cut his kukuchai or his two balls ??

@Stockmanmy....hey ..be a REAL man...get ready to cut to your kukuchai as you have promised ....hahahha...eunuch

@ Si Min Tan, the reason it cannot be billed is because both TWY and Star Residences (both projects contribute significantly to the unbilled sales) are just about 20-30% completed. Sales are progressively recognized based on stage of completion.

Cut off your kuku bird ?

Bean counters really lack imagination ...

when will they release Q2'17 results?

Unbilled sales is an important indicator of the health of property construction company.

now is the best time to access management's ability to deliver sales.

Extract from Q2'17 for Union Suites:
We intend to launch Union Suites@Sunway, with a projected GDV of RM400 million. This development consists of over 600 units of mainly small fully-furnished apartments targeted for students' accommodation and investors due to its proximity to several established universities, colleges and medical centres in the Sunway area. We are confident that despite the soft market, this development will be well received.

So, let us wait and see if they can achieve 80% sales - as implied by Datuk Azman Yahya during 2016 AGM. So far, he has delivered on both counts - TWY and Star Resi. Waiting for Union Suites.... :-)

currently, this counter is extremely undervalued from both P&L and balance sheet perspective. A lot has been said about the ridiculously low net book value for Sungai Long land and how the NTA will shoot through the roof once Sungai Long has been revalued. Hence, I will not reinvent the wheel.

These guys have written well about SymLife:
http://equitydiary.blogspot.my/2015/09/symphony-life-deeper-look-into-its-deep.html
http://bonescythe.blogspot.my/2014/04/symlife-symphony-of-life.html
http://www.symphonylife.my/wp-content/uploads/2016/12/PDF-Symlife-August-2016-AGM-COVERAGE.pdf

Let us talk from the P&L perspective:

The main game changer here is the Star Residences project at KLCC. Profit margin is kick ass given that the land cost is ridiculously low at RM500 per sqf. I believe even with a high sales commission paid to attract overseas buyers, margin is somehow preserved at the high twenties owing to the extraordinarily low land cost.

Let us take a look at RT2 and how it impacts unbilled sales.
According to Q2'17, unbilled sales hovers at about $950M (close to $1B). This is based on 50% take up rate at RT2. According to
http://star-residences.com/assets/img/news/starnews-03.pdf
sales for RT2 has achieved more than 70%. With this announcement, I believe that unbilled sales will easily increase by additional $45M to $995M.
(Why $45M? = 300 units per Retail Tower x RM1.5M each (cheapest unit @ RM1.5M and max @ RM3M for penthouse units - being conservative, we take RM1.5M across the board) x 20% delta (between 50% vs 70% take up rate) / 2 due to 50%-50% JV) = $45M).

Of course, if they finished selling RT2 - then, unbilled sales should increase by a whopping $67.5M (same calculation per above), thus bringing it to $1.06B.

To keep things simple, unbilled sales can easily surpass $1B mark once RT2 is completely sold.

Well, can management achieved this feat? Well, they just raised the selling price at Sep'16. When a developer raised the selling price especially in such a soft market, they are confident they can complete selling the remaining units for RT2. If not, it is just suicide.

During AGM2016, management has revealed there are in the initial stages of discussion with a service operator to sell 70% of RT3. Of course, this deal is still shrouded with uncertainties. What is certain is that RT2 is now 70% sold and I am confident they can finish selling RT2 by the middle of 2017. Then, unbilled sales should hit RM1.06B.

Now, the next project in the pipeline is Union Suites with a GDV of RM0.4B. One of the takeaways from AGM2016 is that Datuk Azman Yahya has hinted that he is pretty confident the sales for Union Suites will easily surpass 80%. Why is this important? Datuk Azman Yahya has emphasized that for a project to be cashflow neutral, sales need to surpass 80% and they will not launch if he is NOT confident if sales cannot hit 80%. Now, whether his team can deliver those numbers? This is a big question mark.

Assuming if he can, then, total unbilled sales can easily hit RM1.4B (a very conservative number) for 2017. This has a big impact on share price. Assuming if Star Residences, TWY and Union Suites takes about 4 years to complete, then,

RM1.4B (unbilled sales) / 4 years x 20% net profit margin = $70M net profit / 310M shares = $0.22 EPS.
Assuming if a conversative P/E of 5 is applied = 5 x $0.22 = RM1.10.

We should be looking at a share price of RM1.00 (to be conservative).

Hence, from the current share price of $0.65, there is a potential gain of 50%.

To all Gadang loyal supporters, happy new year 2017!! Huat arr..