Sim Lian Group

Re: Sim Lian Group

Postby winston » Wed Feb 09, 2011 6:45 pm

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Sim Lian Q2 net profit up 75% to $53.7m By WINSTON CHAI

Construction and property -related Sim Lian Group Limited on Wednesday reported net profit for the fiscal second quarter rose 75 per cent to S$53.7 million, up from S$30.6 million a year ago.

Revenue was up 3 per cent at S$172 million, from S$166.5 million in 2010.

The group expects to achieve a set of profitable operating results for FY2011.

http://www.businesstimes.com.sg/sub/lat ... 96,00.html?
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
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Re: Sim Lian Group

Postby winston » Mon Dec 05, 2011 8:49 am

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SIM LIAN GROUP LTD - Sim Lian Group said its wholly-owned subsidiaries have been jointly awarded the tender for a land
parcel in Singapore with a site area of 18,954.5 square metres for commercial and residential development.

Source: Reuters
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Re: Sim Lian Group

Postby winston » Tue Feb 07, 2012 8:28 am

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Singapore property development and construction firm Sim Lian said on Monday 32 of its 48 penthouses in Tampines, eastern Singapore, were sold over the first weekend.

Prices start from S$1.1 million ($880,200) for the penthouses.

Source: Reuters
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Re: Sim Lian Group

Postby iam802 » Tue Feb 07, 2012 9:10 am

I assume that is for Trilliant EC?
1. Always wait for the setup. NO SETUP; NO TRADE

2. The trend will END but I don't know WHEN.

TA and Options stuffs on InvestIdeas:
The Ichimoku Thread | Option Strategies Thread | Japanese Candlesticks Thread
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Re: Sim Lian Group

Postby winston » Tue Mar 13, 2012 11:59 am

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Sim Lian Group is trading at 7.9% yield, 2.6x FY11P/E and 0.9x P/B.

Balance sheet has strengthened over the years, with net gearing ratio dropping from 3.3x in FY08 to 1.1x in FY11.

The company recorded 110% YoY jump in earnings in 1HFY12 to $139m.

Source: AmFraser
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Re: Sim Lian Group

Postby stilicon » Tue Aug 27, 2013 7:34 pm

FY2013 results : http://infopub.sgx.com/Apps?A=COW_CorporateAnnouncement_Content&B=AnnouncementToday&F=901529&fileId=FY2013_FS.and.Dividend.pdf

Results can be lumpy for those building companies.

However, over the last 4 years, the NAV (or bvps) increased from S$0,381 to S$0,854. (i.e. about +22% cagr).

Over the last 3 years, div were 4,6c (FY13) + 7,5c (FY12) + 4,8c (FY11) i.e. about 16,9c in all, representing in average 26% of net income (patmi) and 22% of op. cash flows (ocf).
FCFY was about 27%, and (FCFY - gross div Yield) a bit higher than 20%.

Today,
- the div yield is about 5%,
- valorisation is fairly reasonable/low (P/B 1,07 ; P/E(2013) 5,5 ; Ev/Nopat 6,1)
- net gearing is about nil,
- ROE (over last 3 FY) is about 29%.

One of the few investments lines, I intend to keep throughout the coming storm. Is it wise ? Time will tell !
(vested).
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Re: Sim Lian Group

Postby stilicon » Tue Feb 11, 2014 9:46 pm

results for 1H14 are in : http://infopub.sgx.com/Apps?A=COW_CorporateAnnouncement_Content&B=AnnouncementTodayByCompanyNameAndCategory&F=1061143&fileId=2QFY2014.pdf

over 6 months vs LY :
- revenue : -10% at 358 kSGD,
- patmi : +10% at 93 kSGD,
- OCF : -62% at 81 kSGD.

- NAV : SGD 0,90 vs 0,85 at 30/6/2013 (+6% in 6 months).
- Average 4Years shareholder's yield : 19,5% (ie div + ∆NAV).
- You could buy it at SGD 0,77 today (i.e. P/B : 0,86).

Builders are not trendy today. Yet, it is not the end of the world.

One of the most overlooked SMEs in Singapore, from my point of view.

(vested).
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Re: Sim Lian Group

Postby stilicon » Mon Feb 24, 2014 9:21 pm

PORTFOLIO ACQUISITION IN AUSTRALIA

An interesting development : Sim Lian buys 5 small local shopping centers, anchored with Woolworths supermarkets.

http://infopub.sgx.com/Apps?A=COW_CorporateAnnouncement_Content&B=AnnouncementToday&F=1062620&fileId=Announcementportfolioacquistion20140224.pdf

- 4 are operating, 1 is in construction.
- overall acquisition is A$133 millions, ie about 16-17% of market capitalization.
- no immediate impact on NTA or NAV.
- financing : cash + debt (Sim Lian had until now very little debt ; net gearing on 30/6/2013 was close to nil.) On 31/12/2013, the Company had about S$260 millions in cash.
- the document emitted by the Company speaks of a net profit before tax of S$ 7 millions (with only the current 4 operating centers ? Or is it an estimation for the 5, after the fifth is operating ?). That is about A$ 6,15 millions. 6,15/133 gives something like 4,6%. Not huge.

-> I think that
- diversification is wise ;
- Australia is now attractive ;
- this move confirms my understanding that the optic of the directors is patrimonial over a medium term.

-> I subscribe to the move. (vested)
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Re: Sim Lian Group

Postby behappyalways » Sat Jun 13, 2015 7:25 pm

Another group of new homeowners complain about defects in flats
http://www.theonlinecitizen.com/2015/06 ... -in-flats/
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Re: Sim Lian Group

Postby behappyalways » Fri Oct 23, 2015 10:15 am

血要热 头脑要冷 骨头要硬
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