Anyway, there might be some surprises with TH as significant shareholder, but this probability is low. Especially when TH has stopped buying even at the current price.

i will not subscribe. First, the market condition. There are many other stocks currently trading at more attractive valuations, blue chips to name a few. The probability of these blue chips to recover is very much higher than symlife.. secondly, the bad sales of union and Kota Bahru projects, the delay in launching sg long projects, significantly higher inventory etc, set off multiple red alerts. It could be challenging to replenish the unbilled sales. It is also difficult to understand why launch condo blocks in Kota bahru? Except in kl, selangor, and Penang, 8 out of 10 condo projects in other places are bound to fail. I wonder if they carried out market survey before launch. As for sg long project, unless they roped in some big names for jv, they should just sell the land, high capital and long gestation period. In short, short term outlook is clouded by RI, medium term and long term is unclear with the bad sales and capital intensive project.

No, I mean the price of each renouncable right upon listing is 0.125. You can sell off within a week if you do not plan to subscribe to a new share by paying another 0.35. But normally there'll be some selling pressure, so it should be trading between 0.10 to 0.12, if the ex kicks in at 0.60

Actually should cancel the RI and do private placement, market condition unfavorable

Before ex ald 0.60... at current price, each right costs around 0.125 and share price will be adjusted to 0.475 post RI, assuming 310M rights

I just ordered a container of eggs, keep until agm should be bad already. These directors need the eggies badly

Anyone going to the agm?

On the 24th, I bought 30k shares, the other 500k bought by LTH, another 500k on the 25th. Today continue fishing

Renounceable rights, you can sell off to other ppl once you get it if you don't intend to subscribe

Just kidding, LTH is buying low from those desperate sellers. LTH is not putting huge buy queue. But queuing small volume at lower price. Looks like LTH is playing it well this time

You ppl sell until LTH scared, don't dare to queue, wahaha

Some will sell the OR, but someone will buy it coz they only need 0.35 to get a new share, maybe LTH will

That's why I'm saying this RI is strange, it doesn't raise a lot of cash to cover the debt and capital that's needed in the next few years (only wanted to raise minimum 60M, but I guess they'll get 100M from 310M share base). At the same time, LTH is buying in aggressively at ABP close to 0.80

And RI is not something you can do one time, not enough? Do again. Still not enough? Do a few more times lo. Think behind the scene. Dare to dream, cheers

This is just my guess, but it's a bit strange to do an RI to raise a minimum 50-100M only. It's either they are very confident of making 200-300M in the next couple of years or they are expecting someone to pour money to them, or maybe both. Mind you, development of sg long's land need a lot of funds

Btw, LTH don't have to push up the price like someone said earlier. Simply do a joint venture, LTH put in money, symlife put in land, sama sama develop, the share price will shoot to the roof already

Looks like there are many other ppl who think like me - that the RI is a good deal

Even with rights issue, there have other parties acquiring along with LTH. You can see that LTH buys around 50-70% of daily volume. Some other ppl with deep pockets also willing to buy at current price and plus 0.35 to get a new share

This is one mf record volume. They really use this counter to raise election fund!!

1B unbilled sales will translate to net profit between 150 - 300M (current profit margin is 30%), which will be realized in the next two years. Conservatively, each year will realize 150/2 = 75M

Before rights
EPS = 75M/ 310M shares = 0.24
Assume PE8 1.92, PE6 1.44

After rights, most likely share base will double to 620M
EPS = 75M/ 620M shares = 0.12
Assume PE8 0.96, PE6 0.72
Compared to theoretical ex price 0.55 (based on 0.735), it's still cheap, more than 30% upside at PE6

If using 300M net profit, the figures above will double. So, it seems that potential profits from the unbilled sales can easily support the enlarged share base.

What's more interesting is the prospects after the completion of Star residences. If TH participates in the development of sg long's land, it will be a major up-rating for symlife

theoretical ex price 0.58 - rights subscription 0.35 = 0.23
TH most likely knew and supported this exercise beforehand. Azman cannot vote as an interested party, so other major shareholders will decide whether this proposal will go ahead. TH will be a deciding factor because it owns more than 6.3%, and most of the stakes were acquired at 0.80 in the past one month. If you find TH is still buying on 10th April, it suggests positive development in the near future

If upon ex symlife trades at 0.80, then each OR worth 0.23, which you can sell off. But until then there should be two QRs - May and Aug and the dividend. Both QRs should be very good. Buy or sell you decide

The ultimate goal of this exercise is to increase the share base for institutional participation, although it also raises some cash to improve the gearing. At only 0.35 per rights and the major shareholder committed to 40% of the rights, you can see that it is confident of the strong earnings in the coming QRs to pare down the debts