Hi Azlan88, how are you?
Great to see you are back at Symlife.

Anyway, the profits arising from Star Residences are shared on a 50-50 basis. Not all belongs to Symlife.

Will be great if you confirm otherwise...

Errr..just to confirm with you... I think that the treasury shares that you mention amounting to 388329 has already been distributed last year 2014.

please show some respect to abang Apini... I think that guy is in the market for a very time...

@ Brother Apini,
Then, what makes the share price moves?

@where you get this infor above?

about share treasury distribution ~ i don't place too much hope on it...the whole FY15, it only purchased 10,000 of its shares back despite lower share price....hahaha - what a joke~!!!

@ Brother Apini,
Actually, Gadang constitute a very small % of my portfolio...
SymLife = 60%
GOB = 45%
Gadang = 5%

Don't know why the price for both SymLife + GOB never really recover.
If think about it logically,
both SymLife + GOB has got undervalued landbanks.
If they sell those land at market price (instead of developing them but rather just sell them outright), their profit is more or less guaranteed
and these EPS from outright sale is more than their current share price.

The profitability of these type of businesses are very transparent.

But don't know why the market does not "reward" these type of counters.

Now, i kena stuck in the market. I only thank GOD that i don't borrow.

And now, i keep on buying Gadang on a monthly basis with leftovers that i have.

there are things that i have done - that i regretted deeply...words cannot express my frustration and my regrets...

Wait for this feeding frenzy session to be over....then, the price should drop and we will patiently wait and pick up at a low price...

then, continue waiting for....

hehehe...drop more...hopefully on 28th May 2015, it will drop to RM1.50
where i patiently await

......PS: hopefully, i do not offend anyone here.....

wow...today is Apini's show....

Please gap down... I wanna buy more....

i will take that with a huge pinch of salt....too many false starts for GOB

dear all brothers, to those who missed buying Gadang....don't worry...the market sentiment is still bearish .
normally, i don't advocate looking at the macro trends....but i will make an exception this round.
Look at the declining oil price , GST (6%) and the ultimate of the ultimate....1MDB (1 Malaysia Dalam Bencana). This will exert a downward pressure on Gadang...thus allowing us to do bottom fishing for GADANG....i am planning to load up more at RM1.50....

i think you can refer to the postings by James70.

he has written alot about SymLife.

http://klse.i3investor.com/servlets/cube/james70.jsp

@ Darren Liew, i am not contesting the fact that SymLife is restructuring its business to focus on property development. As rightly pointed out by your goodself, this will strengthen its balance sheet. But then, it will come to a point whereby there is no more non-core businesses/ assets to sell. At that point in time, it all boils down to its property development business.

What i am trying to highlight is how well can SymLife monetise its assets? As an investor, i want to see strong gross profit margin and strong net profit margin from its core business ~ which is property development and how well this translates to its operating cash flows.

At this point in time, i cannot find the evidence that SymLife is achieving the above ~ maybe to the extent it can rival TamBun Indah (a Penang based property development company). It may achieve the above sometime in the future, but NOT now. Hence, the future brings with it certain amount of risk.

But if your entry price is at RM0,84, then i think you are well guarded against this risk since this entry price has build in a huge margin of safety relative to the market price or even the cost price of the landbanks.

@ Darren Liew, just checked the annual report 2014. I hereby confirmed that SymLife does not have any landbank in Penang.

if you look at Q2'15 earnings, SymLife is actually making a loss in that quarter but this is masked by selling off one of its subsidiaries. The reason for the losses in Q2'15 is due to the delays in getting permits from the authorities and this caused a delay in launching the projects. This point to gaps in its project execution.

No doubt SymLife has alot of undervalued assets, by virtue of its parcels of landbanks in and around Selangor. However, its execution ability is NOT top notch. In the long run, a company is judged by its operating profits from its core businesses (in this case, property development) and how well it translates the operating profits into operating cash flows. By right, we should only buy into SymLife when the P&L is showing healthy gross and net profits and this translates into positive operating cash flows (at least for a few quarters). You maybe paying more at that point in time as compared to now.

Having said the above, i admit that SymLife is in the best position to achieve the above judging by her cheap landbank and selling off at prevailing market prices. This almost guaranteed high profit margin.

Unfortunately, SymLife has not yet proved the above hypothesis and therefore this may not be an appropriate entry point to buy SymLife.

However, i admit this is an appropriate entry price, since buying at current price ~ RM0.84 is considered having a huge margin of safety relative to its landbanks.

i cannot deny that SymLife is asset rich - and its current assets (alone) is able to cover its total liabilities and the excess when divided by 310.0M shares is about the current market price. In addition to the Sungai Long land, SymLife has various parcels of lands bought long ago at cheap price but now is valued at many folds of its original purchase price.

You can check out the postings by James70 - about the lands that SymLife has.

However, do note that the EPS for this year factors in the disposal of some of its non-core assets. Hence, profits from main operating activities is just average only (nothing to shout about).

Write a comment..Brother Apini.... Trust yourself...concentrate all your firepower at Gadang... Also, I think your are a very smart man...you will trade Gadang...taking advantage of price appreciation and correction to lower your cost.

@ Darren, symlife's maiden project in Penang is Surin. The project has since been completed. Other than that, I am not aware they have land in Penang. If yes, how big is it? If it is just a few acres, then there is nothing to shout about.

By the way, symlife has about 20% of symhouse shares. This explains why they have a loss from other investing operations in their quarterly reports as the shares are marked to market and symhouse shares are not doing well....

The reason why I ask us because symhouse is supposed to have a RTO with Ranhill...and there is not much news until now....

B the way, Datum A man Yahya got paid about RM4.0M in directors fees....makes you wonder whether he is treating symlife as a personal piggy bank?

Other than the points highlighted above, I agree that symlife is VERY undervalued at this price point...especially taking into consideration their Sungai Long land...

Sorry that I am quite sceptical about things...just the way I am....

Hi DarrenLiew, SymLife does not have land at Penang ~ but they have about 200++ acres in Kedah...besides the above, anything else you have found out about SymLife?

Datuk Azman Yahyah is carrying about 20%++ of Symphony House shares in SymLife. Up to now, i do not know whether it is good or bad? Mind to advice on this?

sigh....my portfolio:
SymLife = 50%
GOB = 40%
Gadang = 10%

Both Symlife + GOB is considered asset rich - got more assets than Gadang (in terms of net assets per share and i am talking about hard tangible assets - not those funny funny accounting valuations)...but don't know why both is stuck in the mud whilst Gadang is flying...walau.....

talk about heartache....and headache...really combo kau kau~!!!

good for you Brother Apini,
I sincerely mean what i say - i am happy for you...

After dwelling in the share market, i don't know why i am happy when others is doing good....

last time, before dwelling in the share market....i used to be a kiasu guy - when others are doing good...i am pissed off....but now, i am a changed leaf....

Happy for you mate....

Hopefully, my day will come when SymLife and GOB is flying... but don't know when...

Hi Icon8888 brother... How about GOB? When is it going to fly? Please share with did I if you sell liaw.....

park it at Gadang...as what Icon8888 has mentioned, next quarter may have dividends being declared.

nasihat tok bomoh 1 Malaysia amat cun....
today - Gadang will breach RM1.50...

but my fingers itchy to launch tomahawk missiles...
straight away enter launch codes....missiles away....
bomb GADANG at RM1.51...

yah - tambah makan @ RM1.51 -
GADANG = enak + lazat + kenyang + berkhasiat....

hehehe...maybe tengah hari boleh dapat RM1.50...since whole bursa is red...

today - Gadang share price is going to drop - i can feel it in the air .....i can feel it in my spit.....

you see...tok bomoh very accurate...now, Gadang coming down to RM1.53...later, tok bomoh used his 10 days underwear...jampi jampi and throw at Gadang...it will come down even more...to RM1.50...where i patiently await...and happily collects....

mmm....after consulting with Tok Bomoh 1Malaysia, he looked into the future using his magic teropong made out of 100 years old bamboo tree ,,,,he told me...given the bearish sentiment underpinning the KLCI, if Gadang does not go up, then, it will come down...

Tok Bomoh 1Malaysia has spoken....

damn... i wanna Gadang to come down - not go up~!!!

today is the day for Gadang to drop and for the patient ones to buy ...i can feel it in the air.....hahaha

@ apini, thanks for your advice. It seems you have vast experience in the market.

Care to share what is the meaning of invest with the right attitude?

RM1.45 to RM1.50 is plausible

With the bearish market sentiment, price is expected to drop....patiently waiting at the sidelines...

Hi Icon8888, just asking...why GOB seems like no power? There are so many false starts...

coming down... My advice is to continue waiting until the middle of this month...let everyone forget about the good quarterly results...

No offence here...but Gadang will recede back to RM1.45 to RM1.50 - thus opening up an opportunity for long term investors like us to load more....

Hi Icon8888, nice to see you here...,,,
That GOB not enough power...cannot vroom vroom...really wait until my neck long long liaw...

good to hear that

semakin turn,.....jampi Pak Bomoh 1 Malaysia amat berkesan......akan turun ke paras RM1.4x....membuka peluang untuk kita beli...

Just found the Pak Bomoh 1Malaysia - he used his magical bakul and trap Gadang at RM1.40 to RM1.50 price range....his mumbo jumbo jampi jampi will expire at the end of this year...using his magical bamboo binocolurs - he peek into the future...ahhh - the price will fly to new high of RM2.00 starting of next calendar year.....

Hence, my friends...use this time until the end of the year to buy up Gadang..

Targeting RM1.45 to RM1.50.....

waiting for the selling pressure to dissipate.... Then, it is time to buy again....

....hehehe....if want fast money - go to Genting ...one big one small....settle

@ probably, tomorrow - market is not open lar....

@ probably,
Just my 2 cents. I am not the real expert here...but Apini and Icon8888 is the undisputed champion.

Please correct me if i am wrong....just like you - i am also learning....

When people invest, people invest based on their expectation of the company's future earnings. Some call it a theme. This is especially true for Capital 21 whereby their profit is already locked in (guaranteed profits) and spread across a few years. Meaning that if you buy at RM1.45 to RM1.50, you know that for these few years, you are actually buying into Capital 21's guaranteed profit and nothing else. The profit attributed by their construction, plantation and power generation division is just a bonus. The JV is very similar to HoHup and Malton's JV for their Pusat Bandar Damansara. At the end of Capital 21, the plantation and power generation division will provide the recurring income in place of Capital 21. But this is still a few years away.

If you ask me, Gadang's Q3 is very solid....especially the property division. Look at their segmental results. Property division does not contribute much to sales revenue but then, contribute just as much profit as their construction division. This is attributable to Capital 21 to a large extent. You also need to look into Gadang's future property projects and Capital 21 to a large extent, is still in its teenage stage. About the slew of property projects that is coming online. It is well distributed between high end and affordable market segment. Don't forget that Gadang is a construction company. They do not need to outsourced their construction of properties to others. Everything is done in-house and this saves costs.

Hence, with this in mind...why bother if Gadang missed their year end target of RM75.0M? If your holding time horizon is for 2 years, then, you are still assured that Capital 21 is still online and contributing. At that time, both the plantation and the power generation divisions is up full swing providing recurring income. IN terms of the construction business, it may clinch a few projects (this bit is speculative though). With this logic, even if the year's PBT comes in at RM70.0M (RM75.0M), i will still gladly hold on to Gadang because of all the above.

Also, look at their operating cash flows...it is positive operating cash flows and this is no doubt - contributed by Capital 21.

And not to mention the possibility of Gadang wining construction contracts. In the last press by Dato, they are actively bidding for contracts worth a few billions.

As Gadang's fundamentals keep on improving, the "cap/ lid" on its share price at RM1.50 will eventually burst.

For me, i will buy as long as it is trading at RM1.45 to RM1.50. So, in my case, i will patiently wait on the sidelines. I believe the buying pressure will dissipate after this quarterly result announcement. Now, everybody is busy buying - but who is motivated to keep it in a freezer? Except for Apini, Bluefun, Dingdong and Icon8888.,...

Now, i am just worried the share price may soar too high.. Thus making this share too unaffordable to buy.