Posted by melanie181818 > 2018-06-02 07:37 | Report Abuse

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

Posted by nemesis > 2018-06-02 08:50 | Report Abuse

Thanks...So do you think we should subscribe for Symlife RI? Is it worth paying 0.35 for its future earnings which I think is volatile...The company stated it still has 930+++ mil unbilled sales but earnings still not tat robust as we think...So is it worth it to support Symlife since they might kick start the 7 bil Sg Long project one fine day...Will u subscribe the RI Melanie?

Posted by nemesis > 2018-06-02 08:56 | Report Abuse

But if less ppl subscribe, then who will swallow up all the unsubscribed RI? Will Tan Sri Azman Yahya swallow all...like tis he will sure enlarge his stake in Symlife...If he has a bigger stake in Symlife I will surely acquire more of Symlife as Tan Sri is very capable n prominent and management is superbly strong...what do you think?

Posted by nemesis > 2018-06-02 14:35 | Report Abuse

During tis property recession...not many Small Cap Developer like Symlife tat can achieved 940 mil unbilled sales...I guess only Symlife did tat!!!at least there is quaranteed 3 years of robust earning visibility ahead while waiting for its 7 bil Sg Long project to kick off...I ve decided to support and subscribe to the RI no matter what...

Posted by kancs3118 > 2018-06-02 22:55 | Report Abuse

But then, Elevia Residence 70% sold only ...after so many years......
Poor sales for Tijani Raja Dewa at Kelantan,
And poor sales for Union Suites...only 33% sold for units being offered for sales...
Inventories of RM100M
All of this....shoes danger

Posted by kancs3118 > 2018-06-02 22:55 | Report Abuse

Shows

Posted by nemesis > 2018-06-03 00:52 | Report Abuse

Not only Symlife facing tis high inventories...Even Mahsing n KSL facing the same problems...But 940 mil unbilled sales is good enough to maintain steady profits for the next 3 yrs to come...poor take up rate is normal during property recession...most developers are facing the same problem

Posted by melanie181818 > 2018-06-03 19:26 | Report Abuse

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.

Posted by melanie181818 > 2018-06-03 19:32 | Report Abuse

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.

Posted by melanie181818 > 2018-06-03 19:47 | Report Abuse

Regarding the RI, Azman only pledged to subscribe a portion of rights, not all, in case of under subscription. That's to raise 60M, which is around 40% assuming 441m rights, please check the announcement on RI for exact figures. The other rights not subscribed will expire and share price adjusted accordingly, maybe.
In fact, they should have cancelled the RI and do private placement instead. But this will only raise around 30M compared to minimum 60M. Judging from the current situation, they have no other choice but to continue with the RI to raise as much cash as possible to try fixing the problem with union and kotabahru..

Posted by melanie181818 > 2018-06-03 20:25 | Report Abuse

But gdv of these two projects is around 650M, so even if they raise 100M - 120M if RI is fully subscribed, it won't help much. Better pray that sales of these two projects improves significantly in the near future

Posted by melanie181818 > 2018-06-03 20:37 | Report Abuse

I think launching condo in Kota bahru and high end condo for students are not so smart of azman. Should have better insights of the market. A few years back I check properties in subang jaya, many condos in the range of 600k above, 2 3 rooms targeting student rental badly overhang. But I gave azman the benefit of doubt since they should be the expert. But I was so wrong.. if I were azman, common sense would have told me to go into affordable housing, lower margin and higher sales, guaranteed profits will be safer in the challenging environment. Should always take the initiative to change, don't be stubborn

Posted by nemesis > 2018-06-05 11:55 | Report Abuse

Don have to look so far...just focus on its 940 unbilled sales tat will sustain profit growth for the next 3 yrs... Dividend also quaranteed for 3 yrs...

Posted by melanie181818 > 2018-06-06 11:13 | Report Abuse

Without RI, it's a nice bet. But now you have to pay upfront through RI to enjoy the profits. It's a matter of worth or not since there are plenty of bargains in the market

Posted by melanie181818 > 2018-06-06 11:22 | Report Abuse

No offense, but I feel that it would've throwing good money on a laggard stock

Posted by nemesis > 2018-06-07 01:06 | Report Abuse

I don agree with you at all...I mean it is impossible for a small cap stock with just 310 mil shares outstanding to achieve tat kind of near 1 bil unbilled sales...they need to resort to high borrowings to fund operations to achieve tat huge unbilled sales since shareholders fund is small...So now they exercise RI to lower down the bank borrowings and it is beneficial to Us as well since we can participate in Symlife future growth with cheaper entry through RI n at the same time increase the liquidity of the shares in the future when it's shares base enlarged...All tis are expected to contribute positively to Symlife in the long term...

Posted by kancs3118 > 2018-06-07 12:30 | Report Abuse

@ nemesis....anything new other than bodek Symlife ?

Melanie's input seems to be very insightful

Posted by nemesis > 2018-06-07 13:38 | Report Abuse

I am talking facts here Kancs...If Symlife has weak earnings, then taking out extra money for RI is a very bad idea...BUT here we are supporting a company tat has close to 1 bil unbilled sales, at least for the next 3 yrs we don have to worry about its quarterly fin report...It is set to deliver steady profits as unbilled sales turns into net profit...In fact Symlife jewel in the crown most valuable asset is its 420 acres land bank in Sg Long...If we revalue tis land and all others landbank fm its balance sheet, then Symlife will have RNAV of at least 4.60...So not only u get a steady profit growth fm Symlife but u will also get a share of its 7 bil Sg Long(420acres) in the future at cheap valuation now...We just need to subscribe to tis RI to support its growth path...It is like u pay just 0.35 Sen to get back 1.00 value of growth moving fwd...

Posted by nemesis > 2018-06-07 13:44 | Report Abuse

In stock investment one should never focus on short term performance...we should have a long term horizon and see things in bigger picture..."In the interim the stock mkt is a voting machine, but in the long term it is a weighing machine" What counts in the long run is its intrinsic value tat will face with reality...

Posted by nemesis > 2018-06-07 13:56 | Report Abuse

Lets do a simple calculation here...Due to property slowdown we apply 70% discount to RNAV... RNAV 4.60 X 70% = 1.38 (fair Value)...
At 0.62 now, Symlife is trading at a massive discount to its RNAV n its fair value...RI might seems to be an ugly thing, but if we see the whole picture, then Symlife is a Crying BUY as it is deeply undervalued to its asset n profit growth

Posted by kancs3118 > 2018-06-07 14:32 | Report Abuse

Sungai Long project is very far away...Sungai Long land is a leasehold land...being amortised yearly and the value drops annually. Hence, if the development is to be pushed out by three years, the land may not be so valueable.

The watershed moment is how Union Suites going to perform. This is more important than that Sungai Long land.

Since you are living in KL, why not if you go and visit their Union Suites sales gallery ?

Posted by nemesis > 2018-06-07 14:38 | Report Abuse

Union Suite is a just a very small portion of the total GDV...It won't hurt if it doesn't sell well...As far as I know land value will never drop it will up and up as time goes by...Sg Long land will up n Up the longer it goes...

Posted by nemesis > 2018-06-07 14:53 | Report Abuse

SG Long development will be affordable housing project so it should sell well...If u still doubt about Symlife potential I suggest tat u Sell all Ur Symlife holdings Kancs to kill your worries and let others reap the future growth...

Posted by greddym3 > 2018-06-07 22:26 | Report Abuse

High rise development can generate higher profit than landed but the risk is higher because you have to build all the units regardless of the take up rate. What is dragging Symlife is their Union Suites and Tijani Raja Dewa projects which have very low take up rate.

Posted by Alvinkua > 2018-06-09 20:59 | Report Abuse

https://www.facebook.com/STARRESIDENCESKLCCOFFICAL/videos/1706281696114145/

Posted by nemesis > 2018-06-11 10:03 | Report Abuse

Really Amazing

Posted by kancs3118 > 2018-06-11 10:29 | Report Abuse

The build is really fast.....when they stacked up one floor by one floor....

Posted by melanie181818 > 2018-06-22 21:00 | Report Abuse

Did they announce the ex date of RI? This is shitty, the share price will be sluggish until they complete the exercise. I expect some ppl will dump the rights upon ex to cash out, only one week of trading, so dump as quickly as possible if you don't want to subscribe

Posted by nemesis > 2018-06-27 13:42 | Report Abuse

They said tis exercise will be completed by 4th qtr right?

Posted by uptrending > 2018-07-13 08:52 | Report Abuse

Hi nemesis,

Could you please highlight to me from where did you get info about the 420 acres of land Symlife is holding and the GDV of which is about RM 7billion?

I can't find it in the latest AR.

Thank you.

Posted by uptrending > 2018-07-13 09:08 | Report Abuse

Is it this piece in Ulu Langat district
397.30 acres of Quarry land, 99 years leasehold?

Posted by nemesis > 2018-07-13 12:27 | Report Abuse

Hi uptrending...yup tat is the land...estimated GDV about 7 billion...420 acres...if developed will surely keep the company busy for 10 yrs to come...

Posted by uptrending > 2018-07-13 14:17 | Report Abuse

nemesis

Thank you very much.

Posted by nemesis > 2018-07-13 18:32 | Report Abuse

So will you subscribe to the coming Right Issue Uptrending?

Posted by enid888 > 2018-07-22 16:37 | Report Abuse

Major shareholder usually makes the most money from privatisation. The following example shows very clearly about this. Symphony House was bought over by Tan Sri Azman at RM60mil in 2014 and sold at RM164.1mil to Boardroom 4 years later. He laughs all the way to the bank with RM104.1mil profits. Minorities are always on the losing side and victimised as many of them do not have the financial knowledge.

It is not surprising that Tan Sri will do the same for Symphony Life now at the current low price, way below its real value.

https://www.thestar.com.my/business/business-news/2014/03/27/azman-and...

Posted by RVI123 > 2018-08-06 00:39 | Report Abuse

Can someone let me know what will be the exercise price of Symlife-WB after the right issue?

Posted by Yael Jasper > 2018-08-06 11:28 | Report Abuse

Good stock

Posted by nemesis > 2018-08-06 14:22 | Report Abuse

Right Issue is good for the long term prospect of Symlife...At current price it is trading at a wide discount to its NTA of 2.25...A lot of new projects are in the pipeline for Symlife soon...Pls take tis opportunity to buy more at current low price b4 the Right Issue allotment exercise

Posted by nemesis > 2018-08-07 10:47 | Report Abuse

The are 2 main Catalyst to lift Symlife to greater height in the future...The proposed 7 billion Lembah Ledang Damansara project and the future 7 billion Sg Long project with a combined GDV of 14 bil tat will keep Symlife busy for the next 15 yrs to come with explosive growth...Now the only current problem they are facing is slight cashflow problem to deliver ongoing projects on time...Hence Right Issue exercise is significant to bring support to its business operations...I see deep intrinsic values to Symlife prospect to deliver sustainable explosive long term value to shareholders...7 bil Lembah Ledang project is the next growth story of Symlife with current unbilled sales stood at whopping 1 billion...

Posted by melanie181818 > 2018-08-26 12:04 | Report Abuse

At current price each right costs only 0.085.. not even worth selling.. gonna be worse when ex

Posted by melanie181818 > 2018-08-26 12:05 | Report Abuse

And sell down before qr, bad sign I think. Damn those insiders, need to report to sc

Posted by nemesis > 2018-08-27 14:47 | Report Abuse

Short term pain But long term gain...Symlife has every growth potential given its high unbilled sales n coming new developments...

Posted by melanie181818 > 2018-08-27 18:50 | Report Abuse

I bet this qr is not up to expectations, last few qr also same, selldown before qr, then qr out missed expectations

Posted by nemesis > 2018-08-28 19:29 | Report Abuse

Quarterly result better than expected...so far the highest QR...tomolo price should rebound!

Posted by FAIRnREASONABLE > 2018-08-29 19:00 | Report Abuse

Yes, good Q results. EPS - 5.46sens, NAPS - RM2.37.
Today closed at 56Sen. Right at 35sen.
Undervalued.

Posted by kancs3118 > 2018-08-30 18:02 | Report Abuse

Hi...anyone attended the AGM? Can share the updates ?

Posted by nemesis > 2018-08-31 08:28 | Report Abuse

Symlife VS Malton??? Which will you choose? Which is much better in terms of financial strength, profit n future growth??? Both have similar 1 bil unbilled sales...Share price at the moment is almost same currently...Total Net profit also similar of tis two companies almost same...Pls give Ur opinions....Symlife OR Malton?????????????????

Posted by nemesis > 2018-08-31 08:31 | Report Abuse

Symlife has Sky Residenses worth 3 GDV, Malton has Pavillion Bukit Jalil worth 4 bil GDV....

Posted by RVI123 > 2018-09-14 00:01 | Report Abuse

The exercise price of Symlife-WB is RM1.10. Anyone know what will be the exercise price after the right issue exercise? Will there be any additional right shares given to shareholders?

Posted by azman123 > 2018-09-19 22:33 | Report Abuse

at current price each OR costs only 8 cents when listed... by the end of the one week trading, i suppose only 1 or 2 cents.. if apply excess, maybe can get new shares for only 35 cents.. definitely cheaper than buying from the market