Sysma Holdings *Official* (SGX:5UO)

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king2penn

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Anyone else holding?
I'm slowly accumulating at close to 10 cents level

Great value - 0.60 PB, 4.50 PE, 12 cents cash for every share on hand (more than current share price of 0.103)
Used to be valued at more than triple its current market cap 3 years ago (27m vs 85m)
Debt has been pared down progressively over these few years and remaining debt can be paid off within 2 or 3 quarters worth of operating cash flow
Revenue from its development business is lumpy but construction business is solid and growing
Property sales wise it should be improved by the next quarter with the general uptick in the property market

Management seems prudent =:p
 
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bobbytkc

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king2penn said:
nope construction & property development firm specialising in private housing
Click to expand...


I think this one looks good. Maybe I will spend my next salary on this. The fact that their cash is almost their total debt should mean they are quite safe. Any other opinions?
 
Asphodeli

Asphodeli

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Looks interesting but earnings are volatile. Retained earnings aren't high enough to cover debt and potential loss of profits, but it looks like on a recovery path. Dividend payout isn't consistent also. However, compared to other property developers which have already run up, this looks pretty cheap.

Watchlisted.
 
wahkao3

wahkao3

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Sysma Holdings 5UO

as of 5th Jan 2017,
low risk mid return

construction company,property sales is the key
 
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sandwicher

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king2penn said:
Anyone else holding?
I'm slowly accumulating at close to 10 cents level

Great value - 0.60 PB, 4.50 PE, 12 cents cash for every share on hand (more than current share price of 0.103)
Used to be valued at more than triple its current market cap 3 years ago (27m vs 85m)
Debt has been pared down progressively over these few years and remaining debt can be paid off within 2 or 3 quarters worth of operating cash flow
Revenue from its development business is lumpy but construction business is solid and growing
Property sales wise it should be improved by the next quarter with the general uptick in the property market

Management seems prudent =:p
Click to expand...

I think we should look at net cash (minus off bank loans). Given such, they've more loan than cash.

I'll pass
 
Perisher

Perisher

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Rose 60% in a year, profits up so much.
 
Perisher

Perisher

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bsp7Yj6.jpg
 
Perisher

Perisher

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Source: Sysma Annual Report

The Group reported a net profit of S$7.9 million in FY2017, which was approximately 214.8% higher than the net profit of S$2.5 million recorded in the previous financial year ended 31 July 2016 (“FY2016”). The significant improvement was primarily due to stronger sales in the property development business which generated a write back of a net provision of foreseeable losses of approximately S$4.3 million in FY2017, as well as overall lower cost of sales which decreased by approximately 32.4% year-on-year.

Consequently, the Group registered an increase in gross profit margin from 7.1% in FY2016 to 18.4% in FY2017, while gross profit doubled to S$17.9 million year-on-year.

The Group also recorded higher operating expenses, administrative expenses, finance costs and income tax, which were offset by higher other income.

For FY2017, earnings per share improved to 3.19 Singapore cents, compared to 0.65 Singapore cents a year ago. In addition, net asset value as at 31 July 2017 rose to 19.54 Singapore cents per share, up from 16.35 Singapore cents per share as at 31 July 2016.

With financial prudence as a cornerstone for the Group’s growth over the years, we have continued to maintain a healthy balance sheet and stable operating cash flow in FY2017. Net cash from operating activities amounted to S$53.7 million, while cash and cash equivalents at end of year was S$54.4 million.

In line with the Group’s improved performance and to reward shareholders, the Board of Directors has recommended a dividend of 0.5 Singapore cents per share for FY2017.

The Group’s revenue of S$97.2 million in FY2017 was approximately 23.0% lower than the revenue of S$126.2million recorded in FY2016, mainly due to lower contribution from the three property development projects which have been substantially sold. However, the decrease was partially offset by higher contribution from the construction business.

In the second half of FY2017, we also secured three new contracts worth more than S$14 million to erect or reconstruct detached dwelling houses in Singapore. Following the timely delivery of existing projects and the addition of these new contracts, the Group has approximately S$38 million of outstanding order book as at 31 July 2017.
 
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