one thing i learn from the stock market - this is a bear market - take your time....don't rush

@ nemesis - in the last quarter end results, they said - this sales revenue should come up next quarter given that the TWY and a couple other projects have come online...and management has asserted that some of these projects have good take up rate.

how come SymLife can spike up suddenly?

nowadays, i develop a strong rule to preserve my sanity - that is don't listen to GHOST STORIES. At the Tambun Indah forum, somebody posted this:

"Penang property sector braces for rush as GST looms" - http://www.themalaysianinsider.com/business/article/penang-property-sector-braces-for-rush-as-gst-looms

So, the question is who is right and who is wrong???

@ apini,
really like the way you put it....
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What I care most is the company is still doing well and they pay us more dividend as promised . let's pray they declare some dividend this quarter, then we can spend with our family and live well.
my investment strategy is buy a good share at a good price, dividend is mine , capital gain/loss is my children's. think simple and made it simple why so stressful?
if you are young you still have a lot of time to earn big, if you are old, then it should be "dividend is mine , capital gain/loss is my children's." up my children make money, down my children lose money, give dividend , I make money. but you must invest carefully and wisely so that at the end it is WIN-WIN.
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Month end, when salary masuk and if the price stays below RM1.40, i will gasak Gadang.

Me too - long time GOB supporter...please wake up from your coma....

ought to be glad though....the whole market is expected to decline sharply this coming weeks given that Petronas boss just came out and say - they will be slashing OPEX this time....

Hi all, just wanna ask. Noticed something funny in my i-trade. The rights shares have been deposited into my account but at zero cost. Does not make sense because i paid RM0.50 for each rights shares.

market will stay irrational longer than we stay solvent.

bcom holdings is actually the construction company within SymLife group for their projects in Melaka.

please correct me if i am wrong here.....most likely, it is due to short term traders taking advantage to dispose off the free warrants and the mother share as well.....

By the way, as a consolation, the excess is over subscribed.

just call up ShareWorks Registrar - attention: MR Liew - to ask for the status of the rights issue. Mine went through.

@ hardrock - i second your opinion.

@ JN88, you maybe right - trading volume is just 45K.

@ hardrock, the shares seem to be illiquid - it seems it is the retailers selling to one another. I am wondering whether the funds are interested in collecting this counter?

this counter can surely test your nerve....all other counters are rising fast....but this counter is in a deep coma~! Even that apa nama GOB is slowly taking off liaw...this counter prefer to sleep....

@ SongFu, i have no choice but to agree with you. There is nothing for me to disagree to agree.

just in my humble opinion, even if you miss this boat, there is plenty of opportunity for accumulation next year .... market will be volatile next year.

anyone got any update about Sungai Long project?

this is one company that really cannot die - and can still run high....can sleep well owning this company :-)

those who buy at current price stands to win...nothing to lose....huge, huge freaking margin of safety

sharp rebound~!!!

yes...still holding to SymLife. What is your average cost?

@JN88, do you still hold SymLife?

@ JN88, just asking, why the big sharks dump this share? and how they make profit by dumping this share so low?

importantly, why management does not engage in shares buyback ? this price is considered lelong price

Icon8888 vs Optimuss (Prime) = clash of the two titans !!!

@ JN88, then, how do you explain for other counters like Gadang, Tambun INdah and PLenitude which increase abit dee?

i support Icon8888. By the way, i am a chartered accountant and i find what icon8888 said in his posting about GOB makes alot of sense. By the way, i am not his lackey.

something is wrong with this counter. Today - other counters like Plenitude and Tambun - all rise very fast - but this bugger is still stuck.

@ JN88, do you have news update about the proposed state acquisition on the Sungai Long land?

Hi guys, total newbie here. Just wanna ask a few questions before catching the falling knife.
(1): Since Gadang is in the construction industry, is there any risk of bad debts? I think Gadang is actually taking projects from the government and not from independent third party?
(2): Who is the subcontractor for Gadang's property division? I think given that Gadang is a contractor / it maybe building its own properties rather than finding a sub-contractor to build its own properties?

to be fair, other good companies like Tambun INdah and Plenitude is also experiencing free falls in their shares.
If we want to worry - let us not worry about share price but rather on the market segment that this company serves. SymLife seems to be serving the premium market which is expected to be badly hit by 2015.

Not so worried about SymLife because their net assets per share stands at RM2.00 per the latest quarterly results. If we exclude the "soft" assets and just test the hard assets - like their PPE, property development costs, land, trade receivables, cash and deduct that against their total liabilities, net assets per share still stand at about RM1.50. This is lower than my average cost of RM1.16. This has not even include their revaluation gains. So, this counter is quite safe in my humble opinion.

Furthermore, if management decided not to launch any new projects and just sell off their shares in their JVs (and leave their land intact), this will still cover their operating expenses/ fixed overheads for the next 2 years.

@ JN88, well - what you said may be right. Hahaha :-)

Anyway, i am planning to head down to KL in 2015 to visit SymLife's properties. Sometimes, hitting the road and looking at the real thing on the ground is very important. That is how we validate the qualities of the companies we invest in.

By the way, i expect the price for SymLife will stay in the oversold region for these coming months. So, no hurries to shoot down to KL during Dec'14.

Come and think about it, if the qualities of SymLife deliverables is so bad, why the forumers at Lowyat do not want to form an action group to complain SymLife to consumers association/ housing board/ print it in the press/ sue SYmLife as these are the avenues allowed by the law? Especially house buyers are protected by the HDA laws.

I mean if i am going to buy a RM700K to RM1.0M lemon, this is what i will do. Definitely will not go down without a fight.

I mean taking it out on Lowyat is utterly pointless.

Hi Icon8888, thanks for your feedback. You have been very kind to me. I know that i maybe a pain in the ass...Being new in the share market, i went through your articles (from part 1 to 12) and your postings (as well as James70 posting) about GOB many times and have about 80% of what you said (in the few postings above) covered when applying for GOB's rights issue.


Except for the corporate governance part.
"I spoke to some investment bankers. They ruled out Malton merger with GOB. This is because Desmond is not the only strong shareholders. There are few other strong shareholders. There is check and balance in place. Desmond doesn't really have a free hand to abuse the company."

That is why when Optimuss drop a bomb about the asset stripping, i nearly shit in my pants. But it is better to be thought as a fool than to keep quiet. Sometimes, it is the things that we do not know that kill us.



A few more questions before calling it a night.
I noticed from the Analysis of Shareholdings, about 60% of the shares are at the hands of the retailers. Why this is not a tightly held company? Do you think this will change post rights issue? Whereby the investment banks who underwrite these rights will keep a portion for their own investments? Also, why investment banks will not underwrite a company if they think it is full of shit? I mean do investment banks owe the prospective rights applicants a duty of care? Or it is just a reputation risk to them?

Sorry for asking so many questions.

If not mistaken, Patrick's demise is mainly due to the failure of PGCC (Penang GLobal city center) during the last 2x GEs. Thereafter, he sold Equine to the new shareholders - of which the market rumours that Desmond Lim is a substantial shareholder but his name does not appear on records. He maybe holding it via nominees. Equine is then renamed to Global Oriental Berhad as we know now.

But you are right.
Why want to hide behind a veil? Also, it seems there are business transactions between GOB and Malton - things like Malton selling the Sungai Long land to GOB and the contractors for Da'Mein is Domain Resources ( a company owned by Malton). It seems both GOB and Malton is inextricably related and sometimes, one wonders whether the transactions are done at arm's length or tilting in favour of Malton.

I am just afraid if Malton gets into trouble, Malton may "force" GOB to buy assets from Malton at unreasonable prices. Or this may lead to GOB being coerced into swapping its crown jewel, the Batu Kawan land to Malton based on very unfavourable terms to GOB.

Also, it seems Wee Beng Aun (formerly from Malton) is seen as the "director" of GOB whilst the chairman appears more like a figurehead.

I maybe thinking too much now...but these things are playing at the back of my head all this while....just that your previous comments really surface my fears~!

It is better to know both good news and bad news...rumour can be very revealing sometimes.....
Anyway, i apologise again if i hurt your feelings with the dumb posting i made just now - both of which i have promptly deleted.

I think it is better to have more friends who will show the way - than to have enemies.

I apologise again. Thanks for bring up the possibility of asset stripping. I will definitely be on the look out for such signs....

Sorry Optimuss. I am really sorry for appearing rude/ sarcastic - because i felt kind of angry that the market turn the other way. Now that there is a possibility of asset stripping from GOB, i have just gone crazy.... at the spur of the moment, i have written stupid things that i have promptly deleted.

If this is true...then, this whole thing is just a wayang kulit....

I will never ever buy any shares for the rest of my life~!!

@ Optimuss...please correct me if i am wrong here.
Equine is due to Patrick Lim. Besides, GOB is currently applying for approval from MPPP Penang to approve their Batu Kawan phase (i don't know which phase) for sales launches early next year. Why bother to apply for approval and then strip the land later?

Just to reconfirm - i will drive down to Batu Kawan sales office to validate by this Saturday (20th Dec 2014). Just to be safe, will go up to Penang city council to check on the approval status for GOB Batu Kawan.

Times like this, better hit the ground to check the facts.

Besides, Malton have their own JV running at Batu Kawan (300 acres). Why Malton wants GOB's land (350 acres) for Batu Kawan? I don't think Malton has the capacity to develop over 600 acres of land.

Any reason why you said such as thing about asset striping ?

Thanks for the heads up.

@ Optimuss/ Icon8888, between sitting on paper losses for a few years versus company sinking under the weight of its own debt, i rather choose paper losses....

@ Optimuss - why do you say so?

@ Optimuss....regret about GOB? Depends regret about what? Regret i bought at RM1.07? Yes. Could have bought lower. Indeed, market gave me a few times of opportunities to average down but i do not take it. Regret that i subscribe to GOB's rights issue? No.

But now, just scared about GOB's level of debt - sitting at about quarter of a Million. Scared the level of debt is not sustainable.

By the way, i believe in Batu Kawan. The US MNC that i work in (cannot tell you the name) recently invest RM1.0B at Batu Kawan and GOB's land is just 5KM from the new plant.

@ Icon8888, By the way, what do you think of GOB's debt? I am afraid it may go to Holland....the debt level is at a quarter of a million...

Hi Icon8888, for GOB - it seems the mother price is priced at RM0.50 - which is the same as the rights issue price. We live in very interesting time now.... :-)

By the way, i went through your Gadang article. It seems you are very interested about Capital 21 and does not mention anything about Gadang's construction order book. Why is that so?

look at this lowyat forum...
https://forum.lowyat.net/topic/1517542/+1640

i bloody hope SymLife will buy up their own shares...if i am going to ride out this storm....please give me some treasury shares to compensate.....

Hi Icon8888. Just asking, why people is equating 2015 to 1997 financial crisis? This is very worrying...

@ JN88, it seems you are a seasoned investor. Can you help to check out the quality of deliverables for SymLife?