Sim Lian

Sim Lian launching 184units of KL Trillion luxury serviced apartments.

405 SGD psf. Considered cheap?



http://infopub.sgx.com/Apps?A=COW_Corpor...dences.pdf

Location quite prime. Near KLCC and Embassy area. I passed by there last week..
But Trillion location is more like Grange rather Orchard Rd.

Another wing tai project just opposite Suria KLCC mall.

Got another one looks like orchard residences clone nearby.

KLCC area shaping up. Not bad

Sim Lian eyes more land in Msia:
http://www.theedgemalaysia.com/property/...aysia.html

The project is in the final phase and expected to be completed by 2015. Is it safe to buy a unit there as this is a Singapore company and would be much safer and will not have any tricks/delays?

Johor condo delays upset S'pore buyers:
http://www.stproperty.sg/articles-proper...s/a/124355

INCORPORATION OF A WHOLLY-OWNED SUBSIDIARY – SIM LIAN (QUEST) PTE.
LTD. http://infopub.sgx.com/Apps?A=COW_Corpor....Quest.pdf

Name of company : Sim Lian (Quest) Pte. Ltd.
Date and country of incorporation : 11 July 2013, Singapore
Issued share capital : S$1
Principal activity : Investment Holding

Something coming?

Sim Lian full year results out. Profits dropped slightly.
Dividends declared for the year at 4.6c. At current prices, still a decent 5%+ yield.

Net debts has gone down significantly from 63m to 4.5m.

I have written an article about Sim Lian on NextInsight. Please read it and give some comments about the company.

http://www.nextinsight.com.sg/index.php/...3-sim-lian-

While Sim Lian is in my watchlist, my money is with another.

Sim Lian's Venture Avenue among projects to get URA nod

The Jurong project that won URA's provisional nod in Q3 is Sim Lian's project in Venture Avenue in Jurong Gateway to build about 625,500 sq ft of offices and 69,500 sq ft of retail space. Talk in the market is that Sim Lian is looking to strata title the office component for sale; a launch is expected in first half next year. BT understands it has yet to decide whether to keep the retail component for rental income or sell it as well. Jurong Gateway and Lakeside are the two zones that make up Jurong Lake District.

Apparently it seems like Sim Lian is waiting for the URA Masterplan to be out before making any decisions about Venture Avenue.

<vested>

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_Corpor...140224.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)

Cannot fault them for searching for new business to park their hard earned $.

However, they should return excess $ and let investors decide on what they prefer to do.

If you really prefer to invest in neighbourhood malls, Shopping Centre Australasia will be the listed REIT spinoff from Woolworths for direct considerations:

http://www.scaproperty.com.au/

Vested
Odd Lots

(24-02-2014, 09:31 PM)stilicon Wrote: 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_Corpor...140224.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)