SYF RESOURCES BHD

KLSE (MYR): SYF (7082)

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Last Price

0.265

Today's Change

+0.01 (3.92%)

Day's Change

0.26 - 0.27

Trading Volume

358,200

Overview

Market Cap

152 Million

NOSH

574 Million

Avg Volume (4 weeks)

917,652

4 Weeks Range

0.25 - 0.305

4 Weeks Price Volatility (%)

27.27%

52 Weeks Range

0.25 - 0.46

52 Weeks Price Volatility (%)

7.14%

Previous Close

0.265

Open

0.26

Bid

0.265 x 208,000

Ask

0.27 x 188,300

Day's Range

0.26 - 0.27

Trading Volume

358,200

Financial Highlight

Latest Quarter | Ann. Date

30-Apr-2022 [#3] | 23-Jun-2022

Next QR | Est. Ann. Date

31-Jul-2022 | 28-Sep-2022

T4Q P/E | EY

-5.64 | -17.73%

T4Q DY | Payout %

0.00% | 0.00%

T4Q NAPS | P/NAPS

0.33 | 0.81

T4Q NP Margin | ROE

-32.68% | -14.37%

Company Profile

Sector: CONSUMER PRODUCTS & SERVICES

Sector: CONSUMER PRODUCTS & SERVICES

Subsector: HOUSEHOLD GOODS

Subsector: HOUSEHOLD GOODS

Description:

SYF Resources Bhd is an investment holding company. It specializes in the production of dining furniture, bedroom furniture, kiln dry sawn timber and lamination board, among others. The company's segments include Rubberwood furniture, Boards, Property development and construction, and Others. The Rubberwood furniture segment is engaged in manufacturing and trading of rubberwood furniture and component parts. The Boards segment is engaged in manufacturing and trading of particle board and medium-density fiberboard. The Property development and construction segment include property development and construction. The Others segment includes investment holding and others. Its geographical segments include Malaysia, Asia Pacific and other Asian countries, Europe and North America.

Discussions
6 people like this. Showing 50 of 3,111 comments

stockraider

U all must understand huge dilution of NAV to only 15 sen after issuance of massive more than 1 billion shares to insas mah!

Basically u get about par value investment in M&A after dividend & capital repayment loh!

As investment prospect at PE 12x is reasonable despite comparison with affin & kenanga loh!

U need to bear in mind there is a corporate exercice with RI & special issue to staffs at 14 sen mah!

Also u need to take note the current fd rates is only around 2% pa whereas m&a earnings yield is 8.3% pa and most likely the dividend yield will exceed 2% pa mah!

With growth opportunity for m&a....this is a good speculative play...with high chance of succeed loh!

They will goreng the share way above the RI & share issue price loh!
There will probably be several times to stir interest. Could be a favourable article/write-up before SC approval, immediately after SC approval, in the run up to the EGM, immediately after EGM approval, before rights ex-date etc. etc.


Posted by TheContrarian > Oct 8, 2021 10:37 PM | Report Abuse

I think downside is limited but there's greater upside. Can't go down much but at the right time it can rocket up.



Posted by mhanaS > Oct 12, 2021 4:05 AM | Report Abuse

Bought in at 33sen. So that means cost will be 15sen. Plus additional 14sen new shares means total cost will be 14.6sen. Seems okay. Of course if price drops to 32sen all the better!


Posted by TheMerchant > Oct 11, 2021 7:53 PM | Report Abuse

High valuation for M&A Securities
TheEdge Mon, Oct 11, 2021 01:30pm - 6 hours ago

Insas Bhd’s plan for M&A Securities Sdn Bhd to assume the listing status of SYF Resources Bhd in a RM222 million reverse takeover exercise deal has received muted response from investors, judging from the two companies’ share price performance.

The deal values M&A Securities at a price-earnings ratio of 11.8 times and price-to-book (P/B) ratio of 1.2 times, based on its net earnings and net asset value for the financial year ended June 30, 2021 (FY2021).

The valuation of M&A Securities is even higher than that of the local banks, whose average P/B ratio is only 0.9 times. Currently, smaller banks such as Affin Bank Bhd and Malaysia Building Society Bhd are trading at only 0.4 and 0.5 times respectively.

Also, the P/B ratios of other stockbroking firms such as Kenanga Investment Bank Bhd and Apex Equity Holdings Bhd come in lower at 0.9 and 0.6 times respectively.

Thus, the deal to inject M&A into SYF Resources — which will subsequently lead to a name change to M&A Capital — may look expensive.

Upon completion of the backdoor listing, Insas will hold 75.9% of SYF Resources as the disposal sum will be satisfied via the issuance of new shares in SYF Resources.

From the financial performance perspective, while M&A Securities saw a strong jump in its net profit — from RM9.22 million in FY2020 to RM18.81 million in FY2021 — using a three- or five-year average could have been a better benchmark. Note that in FY2019, its net profit was a mere RM6.62 million.

The exceptionally robust earnings were primarily boosted by active share trading among retail investors, driven by loan moratoriums as well as strong market interest in healthcare, technology and penny stocks. At the same time, M&A Securities also acted as principal advisers and successfully listed six companies on the ACE Market in FY21.

As retail participation eases, stockbroking firms may see more normalised earnings, and this will be reflected in the upcoming results.

2021-10-12 08:14

B4b4

What happen if the Proposal isn't approved by Bursa?

2021-10-12 10:19

yleng83

0.315 NOW. CAN IT GO LOWER THAN 0.300

2021-10-12 11:38

Raiz368

Still under selling pressure...wait for reversal to enter. lowest will go maybe around 30 cent.

2021-10-12 14:04

Raiz368

Waiting drop below 30 cent to buy SYF

2021-10-12 21:49

charlie chia

The edge commented yesterday that RTO M

2021-10-12 22:17

mhanaS

The dividend and capital repayment proposal is 18sen. The new share issue is 14sen. Add the two together and you wonder why would anyone sell at 31½sen or below?
Add in the rights issue as well as potential upside that the new business brings, one could sum up that collecting the counter now seems like a no-brainer.

2021-10-12 22:32

stockraider

Go for it!

A potential corporate Play mah!

2021-10-13 08:22

mhanaS

Looks good. Tomorrow seems promising by the look of things today.

2021-10-13 18:05

firehawk

After the special dividend and capital repayment, total 18 sen .... market price must be higher than 14sen, otherwise people can buy from the market rather than subscribe the RI !!

2021-10-14 09:55

TheContrarian

32.5 sen - 18 sen = 14.5 sen effective cost.

2021-10-14 21:34

mhanaS

32sen. Perfect.

2021-10-21 17:41

firehawk

why he purposely makes the vol high high?

2021-10-25 10:49

firehawk

non-stop playing himself @0.325 ......

2021-10-25 11:04

mhanaS

Are the IBs trying to short SYF??

2021-10-26 08:09

charlie chia

Being stabled around 32-33 Cts
Time to go in before rebound

2021-10-27 22:43

Rich_Trader

Post removed.Why?

2021-10-27 22:48

CIO888

Post removed.Why?

2021-10-27 22:55

mhanaS

Well, 31½ seems to be the realistic price, so I'd just hodl

2021-11-01 22:42

charlie chia

Yes good price to collect it

2021-11-01 23:13

thesteward

Wah so many retailers

2021-11-02 14:16

thesteward

:-( believe many retailers sangkut at 44-32 . Hope can rebound soon

2021-11-03 10:46

Bettyem

不急于购买,只是尚未获得有关部门批准的提案?

2021-11-07 09:34

charlie chia

Waiting now is the East wind to blow up

2021-11-07 10:54

thesteward

Must not break 27.5 if break 27.5 many retailers might cut

2021-11-08 11:22

Bettyem

许多人在孵化前数鸡蛋……如果提案未获批准怎么办?

2021-11-08 11:42

thesteward

Many retailers thot 31.5/32 Low enough but :-(

2021-11-09 20:25

mhanaS

Well the assumption on the initial calculations was as such.

2021-11-15 18:36

taitaumau

I wonder whether valuation of RI at 0.14 is 2 high?

2021-11-19 06:07

Risk Trader

Slowly down to 20 cent and below...

2021-11-22 22:50

thesteward

Ya seems like you could be right .
Many retailers stuck between 44 sen to 30 sen . Many thot 32/30 was low enough di.

2021-11-24 10:55

thesteward

Gosh I just realised last year July august syf only 13 sen gosh gai

2021-11-27 09:35

thesteward

Pls lo don’t break lo 27.5

2021-11-29 11:05

TheContrarian

18 sen special dividend/capital repayment to be undertaken prior to rights issue.

2021-12-01 19:34

Risk Trader

Wow...very bad QR, tomorrow sure will sell down again to below 20 cent

2021-12-16 23:50

mf

Dow Jones 35,365.441 -532.20 1.48%
Nasdaq 15,169.68 -10.753 0.07%

2021-12-20 08:34

TheContrarian

Bought at 29.5 sen today.

2022-01-20 21:50

risktoreward

Actually SYF at this price is about right.
New NOSH is 2.1/2.2 billion, 11.5 cents after capital repayment means valuing MnA at circa 250mil

2022-01-21 16:03

TheContrarian

18 sen special dividend/capital repayment.

2022-02-14 15:06

Lpc1225

Has the date been announced?

2022-02-14 15:52

TheContrarian

Not yet, EGM yet to convene.

2022-02-14 16:34

TheContrarian

Bought at 28.5 sen today.

2022-03-15 11:21

TheContrarian

Go, go, go SYF.

2 months ago

charlie chia

Already long neck
Fast faster move

2 months ago

TheContrarian

Go, go, go long neck SYF.

2 months ago

TheContrarian

Take some profit at 33.5 sen.

2 months ago

TheContrarian

Bought at 29.5 sen today.

1 month ago

firehawk

dragging too long .... some people cut loss @0.26

3 days ago

firehawk

margin call? even @0.25

3 days ago

firehawk

From Q3 report,
In conjunction with the amendments/variations to the SSPA, the Board had on 2 December 2021 also announced that the Company proposes to distribute: -
RM0.07 per SYF Share on an entitlement date to be determined and announced at a later date immediately after the completion of the Proposed Disposal of Furniture Business.
The said distribution of RM0.07 per SYF Share or RM39,821,111 in total (calculated based on 568,873,012 existing SYF Shares (excluding treasury shares)) will be undertaken by way of a special dividend or capital repayment or a combination of both and funded from the proceeds of the Proposed Disposal of Furniture Business; and The Proposed Acquisition, Proposed Rights Issue, Proposed Restricted Issue, Proposed Exemption and Proposed Change of Name are conditional upon the completion of the Proposed Disposals. The Proposed Special Dividend and/or Capital Repayment including the Proposed Special Dividend and/or Capital Repayment 2 is conditional upon the completion of the Proposed Disposal of Furniture Business, and again, upon the completion of Proposed Disposal of Freehold Land, but it is not conditional upon the Proposed Acquisition, Proposed Rights Issue, Proposed Restricted Issue, Proposed Exemption and Proposed Change of Name.

The remaining RM0.11 per SYF Share on an entitlement date to be determined and announced at a later date after the completion of the Proposed Disposal of Freehold Land.
The said distribution of RM0.11 per SYF Share or RM62,576,031 in total (calculated based on 568,873,012 existing SYF Shares (excluding treasury shares)) will be undertaken by way of a special dividend or capital repayment or a combination of both and funded from the proceeds of the Proposed Disposal of Freehold Land and internal generated funds of SYF (“Proposed Special Dividend and/or Capital Repayment 2”).

3 days ago

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