hehehe - RM1.20 is also my TP price - and I compute this solely based on Star project WITHOUT consideration of their other projects.

@ Charles T, what is your TP?

@ Tamizy; the most important thing is confirmed sales - i.e.; signed SnP and not just pay booking fees nia...
According to the sales staff, the ones who booked is about 70%, but they do expect 50% drop out rate (out of this 70% who booked). Hence, we should be looking at 30% who signed the SnP.

Even if you signed the SnP, there is a provision under the HDA that states you just need to forfeit the first 10% to cancel the house purchase.

By the way, where the hell is Sungai Long land? Can someone please tell me....??

But then, next quarter, the profit for Symlife will increase again. This is mainly due to both TWY and Star Residences project will start to contribute in a very significant way. In Malaysia, property developers employ progressive billings whereby sales is matched against costs based on progressive billings - resulting in profit to be recognised during the quarter. Currently, the risks facing many high rise projects is that there is not sufficient sales. Hence, the property development costs (expenses) cannot be offset against sales - since there is insufficient sales - and therefore goes through the balance sheet as inventories. Alot of property developers may report higher and better balance sheet due to inventories (unsold houses) pile up and this will increase your NTA. However, don't be fooled by higher and better NTA. There will be a liquidity crunch because contractors and bankers need to get paid. Alot of property developers folded during 1997 Asian Financial Crisis due to cash flow or liquidity issue.

During the AGM 2016, Tan Sri Az,am Yahya has emphasised this point. Twice actually - if you attended AGM 2015 as well. It was his experience cleaning up debt laden property developers during his time at Danaharta that point to this important lesson. Even the CFO is from Danaharta which gives me sufficient assurance that the CFO is alligned to Tan Sri's thinking. To Tan Sri, cash flows is more important than profit for a property developer. That is why he is reluctant to launch a project if the project cannot achieve more than 80% sales. In other words, the project cannot turn into a positive cashflow. However, i think the real test for SymLife is not the share price this coming quarter or the next. It is the upcoming Union Suites RM400M GDV.

For Union Suites, management has reiterated over and over again that they are confident they can successfully sell at least 80%. The proof in the pudding is in the eating. If i do not hold any SymLife shares, i will definitely stand at the sideline wating for Union Suites. Just spend a weekend visiting their sales gallery will confirm the sales status for Union Suites. Hopefully, SymLife can sell more than 80% of Union Suites (and i think they probably will - given Tan Sri's stand). I do not doubt Tam Sri's ability because one of the projects - Desiran Bayu- is actually a BTS. The project is a huge sell out - i think they have sold about 90% of Desiran Bayu in a very tough market last 2 years. Another project was TWY - also a huge sellout in a tough market.

The reason why i favour SHL is because they are a proven developer - compared to SymLife - who employs BTS. If i can choose all over again, i will definitely invest in SHL because at the current low price (lowest for the whole year), the price is a hedge against unforeseen risk. But if you have bought SymLife at RM0.70, then there is nothing to worry :-) About SHL being expensive, expensive is a relative term. I think the correct answer is whether SHL is undervalued at this price. If yes, then it is a steal.

Actually, if i can choose again, i will invest in SHL. Seriously !!

By the way, Sungai Long land is just slightly more than 300+ acres. Not 600+ acres. Don't forget - they dispose the 300+ acres to pay for conversion fees from quarry land to residential land.

Gadang will drop ...

@ Darren Liew, actually where is Symlife Sungai Long land ?Is it considered strategic location ?

Next quarter results will be extremely good for Symlife...then, it jwll break RM0.90/

Hahaha...nooobieee is screaming chicken little

this counter gonna drop

This article is old news. But then, Symlife has followed through with whatever plans it had laid out before the nediia.

https://www.sumhouse.com.my/index.php?option=com_content&view=article&id=3715&catid=296&Itemid=97

Symlife is currently building their corporate HQ at Jalan Semangat.

@ Charles T - this stock was once at RM1.20 (2014) and then, it drops to RM0.60 and now, it rises to RM0.80 (2017).

Hahaha....of course, those who have bought this stock way back in 2014 would have abandon ship and run away.

mmm... I don't know if SymLife is a goreng stock. But SymLife does have its fundamentals - like its unbilled sales of RM1B and its Sungai Long township. So, it does not seem to be like a penny stock.

If counters like Sumatec goes up to RM0.50, then yes - beware - it is a goreng stock.

SymLife fair value should be conservatively valued at RM1.20.

for SHL...it has about 400+ acres of undeveloped land. SHL profit margin is on the high side. So, SHL has got plenty of room to grow. But if you invest in such a counter, be prepared that price appreciation is relatively capped because the public spread is relatively low. However, you can sleep soundly at night. SHL is like a family run business - a lot of the major shareholders share the same surname. I suspect they are all related. That is why dividend is very good.

For SymLife, the next hurdle is their Union Suites. Hopefully, it is a sellout like TWY.

If both Tower 3 and Union Suites is a sell out, then, unbilled sales will be around RM2B. Then, I admit - it is a new growth chapter for SymLife.

Skng Keong - you are right about SHL. Hahaha....SHL is a red brick developer who adopts the BTS model = builds, then sell (BTS) that many developers do not have the cash flow strength to replicate. The free cash flow finds its way as dividends to shareholders.

But one thing I don't like about SHL is that it is like a family run company. A lot of the shareholders belong to the same family. The public spread is very low. So, if you buy for dividend, it is good. But for capital appreciation, have to wait. Still, it is a safer bet than SymLife.

spot on where?

Sungai Long is near to where? Can anyone please educate me?

@ Ricky Kiat...when is the re-rating?

come on---- break RM0.90

Upcoming projects in the future

Cyberjaya Hospital project ....this is sure confirmed because The Star newspaper also pointed out that this is highly likely to be one of the project wins

Maybe one of the LRT3 package

Maybe the last remaining package for MRT

SYMLife - no more steam

woo hoo....breaking the sound barrier

@ maxmax....you sure boh...?

Problem with Malton is that they will not retain the shopping mall within Malton to collect collect he recurring income. Very likely the shopping mall will be injected into Pavillion REIT at terms favourable to Pavillion REIT. Just look at what happen to Damein at USJ .

Current unbilled sales RM1B + remaining of Tower 2 + Tower 3 + Union Suites : RM2B for 2017

Hehehe....if Union Suites can achieve 90% sales, then unbilled sales will swelled to RM2B !

@ Azlan88, please call up Star Residences sales gallery and share your findings here.. :-)

looking forward for your good news...:-)

rise - you stupid SymLife

rise ---- you stupid Gadang !

Star Retail :buy and leaseback for a period of 3 to 5 years to ensure Symlife has the control over managing of Star Retail

The Wharf: from The Edge, it us meant to be an investment property

Aiyoh azlan88, you are a smart man. Please call the Star Residences sales gallery office to enquire about Tower 3 and the Star Retail.

This is what I know from my cold call to the sales office :
(1): Tower 2 is already 80% sold,
(2): Tower 3 is already 50% sold via an agreement with Esort Hotel. .maybe I got the spelling wrong but heck, all I care is about the sales figure,
(3): Star retail managed to root in a new tenant of internal prestige (Madam Tussuad, if i am not mistaken) will take about 10 shop lots...

Please share your findings. The sales office is opened over the weekend .

currently, looking forward to
- cyberjaya hospital project win, and
- if possible, MRT2 (last remaining package) + LRT.

@ sosfinance, well said !

@ Charles T & Nemesis,

Previously i did buy GOB - whereby market rumors linked it to Tan Sri Desmond Lim. Indeed, we are thinking great things will happen especially GOB has got huge tracts of land at Batu Kawan (the next metropolis in Penang). Alot of the lieutenants from GOB is actually from Malton. Well, GOB did a rights issue at 2014, on the verge of the property market slowdown. After the rights issue, the share price drops from RM0.80 to its lowest point at RM0.35. Well, the common explanation given by the directors was that the property market was not doing well. But then, the directors fall short of explaining things they did to destroy shareholder's value. And bear in mind - all of this is after the company has done a cash call.
(1): entering into F&B business (Grandmama/ GrandHarbour) - and making significant losses. They even diversify to China and then, make losses there and then close the business. The funny part was that these F&B outlets was opened at Pavillion stores.
(2): sell off their Batu Kawan land - at pittance on the dollar (to a JV controlled by Malton).
(3): selling their Da'mein shopping center to Pavillion REIT (at terms which is extremely unfavourable to GOB).

Well, this speaks volume about the integrity of GOB's management (all of which are from Malton). Per the rights prospectus, the rights call was done to develop their land at Batu Kawan! I got burnt at GOB but was lucky enough to cover all my losses at Gadang. Hence, i never got interested when Malton's boss bought up WCT. Buying shares is like entering into a marriage relationship with the directors - for better or for worst. Hence, management's integrity is extremely important when investing.

@ FAIRnREASONABLE , better to buy a good company at a higher price than a sampah company at a cheap price ...

Come on baby, break 90 cents for daddy ...

@ equity diary....it is Esort Hotel ....something like that....
For more information, you can pose as a customer and call The Star Residences sales gallery. Ask for the status of Tower 3.
50% of Tower 3 sold dee....fuyoh...

@ Ya Hoo - yes, 50% of Tower 3 already sold to service operator.

I thought Tan Sri has made it clear that Gadang's days for Penggerang is over ...

I thought that Gadang will no longer get any jobs from Penggerang ...

Hopefully, it will break RM1 soon....

Mr OTB...just asking, do you conduct any courses ?

If you wanna make a quick buck buying and selling, then GOB can deliver within this window period. But then, if you wanna hold long term, might as well forget it!

Well said...GOB is riding on the current bull market surrounding properties sector. But then, what is fundamentally so good about GOB ? Absolutely nothing. Incompetent management! What a stupid way to do business ? Raised rights issue and then venture into loss making F&B business. Destroy shareholders wealth. And then, sell off half of Batu Kawan land at pittance on the dollar.

Well...from this news alone..., unbilled sales will baloon up to RM1.25B.

Tower 3 GDV RM1B x 50% sold x 50% share of JV to Symlife : add RM0.25B for unbilled sales.

Now, the remaining of Tower 3 will be launched this July'17. Assuming if Tower 3 and Union Suites is fully sold, we are looking at RM2B unbilled sales for calendar year 2017...

Good news. I just called the Star Residences sales gallery and being informed that Tower 2 has been almost 80% sold out. And here comes the kicker!! This news will appear in the Star Residences issue #3 but for the benefit of all the "Heng Tai"s here... I will spill the beans first.

Here comes the spoiler.

From some of you who attended AGM2016, Tan Sri has mentioned that there is an ongoing negotiation to dispose 50% of Tower 3 to a service apartment / condo operator. Well...Tan Dri followed up with that " promise" and SymLife has inked that agreement with the service operator. 50% of Tower 3 has been sold!

This means 80% of Tower 2 has been sold and 50% of Tower 3 has been sold . In view of this, Tower 3's selling price will increase to RM2500 per square feet.

Hope Gadang wins the last MRT2 package !

Hope Gadang wins the last MRT package !