EPF IS PARCELLING OUT ITS KUWASA DAMANSARA LAND VIA J/Vs TO 20 DEVELOPERS. SYMLIFE CAN ADOPT THE SAME J/V METHOD TO EXPEDITE ITS DEVELOPMENT OF ITS SG LONG LANDBANK
@ AlvinKua, yalor...I fully agree with you on this point. SymLife has got many projects on-going now. Union Suites sales is doing well - about 50% sold - SnP signed and not sticker game.
@ max max, please enlighten me how next quarter's profit is going down? From my humble point of view, it is only going up. The key driver - Star Residences has been almost fully sold for both RT1 and RT2. RT3 is already 50% sold. Also, TWY is already 90% sold. INitially, i was skeptical about their performance for Union Suites. However, Union Suites is already 50% sold. So, next quarters results gonna be good...
kancs....TWY just commence billing....Tesco land sold ...wouldn't be in this quarter......next quarter will be ok....that is another 5 mpnths....come back at October will be the right timing
actually, TWY's unbilled sales will surface this quarter. That day, while driving through Mont Kiara, I can see TWY's construction hitting level 6 already. Both TWY and The Star Residences will contribute their unbilled sales in a meaningful way commencing this quarter.
If Union Suites indeed reach 50% sale, and the sale can catch up before 30 June + 50% enbloc sale to Ascott, then, upcoming Symlife unbilled could reach as high as RM 1.5 billion, it will be the highest ever record for small cap, symlife
NEAR TERM CATALYSTS:- 1) ANNOUNCEMENTS ON DATES FOR AGM AND DIVIDEND PAYMENT (IN THE 7 TO 10 DAYS) 2) 1Q RESULTS WHICH WILL BE GOOD/BETTER WITH HIGHER UNBILLED SALES AND IMPROVED PROGRESSIVE RECEIPTS ESPECIALLY FROM ITS SUCCESSFUL STAR RESIDENCES 3) MORE POSITIVE NEWS UPDATES ON ITS SG LONG LANDBANK
They intentionally push down the price fm 1.00 recently to current low for some parties to collect cheap and then lift it up again above 1.00 after dividend announced...Tis is the final chance to see Symlife below 1.00... By August it should touch 1.20 level...
there is a new resolution to be passed during the AGM...that is to enable the Company to increase the share capital by 10%. Probably, a private placement is in the cards...
After looking through the Annual Report, I find the high gearing to be very disturbing ....no doubt, the company has got close to RM1 Billion unbilled sales to convert to cash to pay off the loan. Yet, it makes me feel uncomfortable.
There is no mentioning that Ascott will buy half of Star Tower 3. It used the words...to manage ovrr 250 units at tower 3 but nothing to the effect of buying those 250 units...will use the AGM to clarify
Also, will use the AGM to clarify on how management view the sales of future projects such as Tijani Raja Dewa (GDV180M), Signal Hill @ Kota Kinabalu (GDVRM450M) nd MK2 (RM450M)...in view of the soft market especially for higher end spectrum of the market
@ equity diary ...I am quite concerned that the annual report does not explicitly mention that Ascott acquires half if Star Three....can you help and verify this ?
I think Tabung Haji is getting smarter nowadays. They increase their position in KSL, MMHE (pending announcement).
kancs3118, they mentioned Ascott in page 23. "RT1 has seen a take-up of more than 95% and RT2 has sales and bookings of about 80%. Star Residences also signed a management agreement with The Ascott Group, one of the world’s biggest service apartment operator to manage a minimum of 250 units in RT3, which will be named the Ascott Star Residences. We expect the demand for units in this tower to be high due to this association with Ascott when we launch RT3 in the third quarter of 2017. "
About Ascott: i thought the article in Focus Malaysia has stated Ascot is buying up 50% of Star Residences Tower 3. Weird...that is conflicting news....need to clarify in the AGM.
By the way who is Mr Ong Leong Huat?
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Posted by kancs3118 > 2017-07-05 00:17 | Report Abuse
Yawn. ....yawn....same old ....same old