Totally right...better run away fm company tat has high borrowings before it is too late cos tat portion of debts belong to shareholders, it is our burden...Maintain Sell Symlife!!!
Just like a lot of property developer companies, Symphony Life is also currently trading at a very undemanding valuation. Currently the company is trading at a mere PE of around 4x and PB of only 0.3x.
The difference between Symlife with other property developer companies is that their main project, Star Residence (which is the main profit contributor) has a very high take up rate. Star Residence Tower 1 @ 97% take up rate, Tower 2 @ 84% and Retail units @ 89%. Tower 3 will be based on residence and service apartment concept that will be manage by Ascott.
Given the advance stage of the development, investors should see higher profit contribution (under JV result) to grow further in the coming quarters. Refer to this video on the development of Star Residence as of Mar 19. https://www.youtube.com/watch?v=tu1F6aBtCvk . Star Residence project is expected to continue contributing to the group profit until FY21.
After that the company profit should comes from the Lembah Ledang Project covering 19 acres area in Damansara Height located next to Istana Negara. Projected GDV is RM7bil. Symlife portion in the project which is parked under Jakel Land Sdn Bhd is 33%. Other partners are Jakel Group and PNB. The project is expected to be launch in FY21 ( at the tail end of Star Residence project). This will ensure continue profit (assuming a high take up rate) to the group post completion of Star Residence.
Other catalyst would be the progress development of TWY Mont Kiara project which has a take up rate of 98%. The project faced delays from the initial main contractors but Symlife has decided to appoint a new contractor that will help ensure the steady progress of the project.
4Q19 (ending march) will highly likely show an exponential improvement vs 4Q18 result. Hopefully the profit to shareholder will manage to stay above the RM15mil level.
Assuming a target profit of RM60mil in FY20, at the current share price the company is only being valued at a PE of 4.2x and PB of only 0.3x.
Result is actually quite good. The much delayed TWY Mont Kiara has already stated to pick up back pace which means investors could expect a steady revenue and profit from the project for FY20 and 21. Star residence also is on schedule in its construction (result under JV)
In terms of valuation this company is only trading at a mere 3x PE and PB of only 0.3x. Currently its actually the cheapest company in my portfolio. Hopefully the market will notice its very low value .
No good...Symlife still saddled with huge debts nn very high Gearing...how they gonna repay all the borrowings? Another Right Issue? Tis is a great concern...
A company tat has to rely on huge borrowings to bring in profits n revenue can't be considered a good and strong company...no point having a profitable company but also having a damaged balance sheet tat is gonna hurt investors one day...Right Issue is the greatest Red flag tat investors should detect and run away...A wise management should avoid RI at all cost...Right Issue indicates tat a company's balance sheet n cash flow is shaky n we should never buy it no matter what...
Symphony Life: Rights issue undersubscribed by 9.46%. Symphony Life's proposed 1-for-1 rights issue to raise up to RM146.1m was undersubscribed by 9.46%. it said it received total valid acceptances and excess applications for 280.3m rights shares or a subscription rate of 90.5%, compared with the 309.6m made available for subscription under the rights issue. (StarBiz)
Symlife boss was ex khazanah director , member of special economy committee of pm , umno economy advisor , the most beneficial person in changing government. Watchup on tansri azman yahya counter.
PE ratio 1.85 counter mana mahu cari. Lagipun 2 tahun berturut-turut growth double digits. TP 2.10 based on PE 10. Very big room for the share price to up.
You both are right kindred spirit !! This is really a gem . Sud be able to go to 50 once ffund comes it. Nta is easily 4 times currently price or more.
PUMP AND DUMP detected. look at the debt!! so many prop companies cash rich and trading below book value, why pick this one with high debt??? beware of cash call
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
nemesis
3,832 posts
Posted by nemesis > 2019-02-28 08:45 | Report Abuse
Totally right...better run away fm company tat has high borrowings before it is too late cos tat portion of debts belong to shareholders, it is our burden...Maintain Sell Symlife!!!