We should not be too worry abt famous personality moving and joining a competitor...it happens everywhere and is quite common.
We are sure that competition will bring out all that is best from both SEH and EM, they will set high standards for themselves and live up to that, both are listed company and have reputation to uphold.

well said..

In fact I dun see EM and SEH is competitor in this context, due to the location, they are suppose to work together towrds a great and successful new township...

This post has been edited by samkps: May 1 2014, 10:25 PM

Sime darby, UEM sunrise, iNP all are GLC....do u see any failure in their projects?


As a matter of fact, being part of GLC, got more advantage to get approval to built highways, infrastructure for their projects......

Yeah, that's true...

Not only that, in terms of taking loan from the bank also have better advantage, since Maybank also under PNB mah...

Ermm..Can't take Sime Darby as a group for comparison to SPS because SD has income from plantation. Should look at Sime Darby Properties only as comparison.

I did both... for easier and more comprehensive comparison...

If compare property division only, SPS still lose to Sime Darby for 1 million...

This post has been edited by samkps: May 1 2014, 10:38 PM

You must compared their GDV amount.
Cannot just look at the profit for the year

Pardon me, I am not from construction field.

If not mistaken, GDV is for a development project, but not for company, right? Let's say for battlesea project, its GDV is expected to be about RM 40 billion, right?

Where can we find the GDV for a company? What it represents?

As a share investor, the first thing I will do is to check the company past 5 years profits as well as the NTA. Of course this may not serve as the absolute, but it gives an indication on the past performance, correct?

This post has been edited by samkps: May 1 2014, 11:00 PM

For developers, to justify their position. You must look at their land held for development and GDV = Gross Development Value.

Revenue recognition is only based on % of completion during the year which drill downs to their profit.

In layman words, is that means the value of the projects in hand for that particular company, correct?

Every company has different land banks in hand, different projects running, different GDV values, etc.. How we would be able to to obtain such information for comparison?

Just my humble opinion, value of the projects for is something tangible and not absolute. Can we have a project which has high GDV, but turn out only 50% sold? How this affect the position then?

As a matter of fact, the profit before tax for SD in the past 5 years also slightly higher than SPS, except in year 2012. Thus, it seems like both SPS and SD are almost equally good... no??



This post has been edited by samkps: May 1 2014, 11:10 PM

Thanks Cav gor for enlightening.

Finally found some values of GDV and total landbank for both SP Setia and Sime Darby:

SP Setia:
Remaining land banks: 4782 acres
GDV value: 71 billion

http://www.spsetia.com.my/corporate/corpor...resentation.asp (slide for group land bank and GDV)

Sime Darby:
Remaining land banks: 19,000 acres
GDV value: 70 billion

http://www.simedarby.com/downloads/pdfs/SD...2013_Lowres.pdf (page 143)

So in terms of GDV value, SPS setia lead Sime Darby by 1 billion, but land bank size for Sime Darby is about 4 times higher than SP Setia.

Is that means Sime Darby owns a lot more lands, but the land value is cheaper than those belong to SP Setia?

Anyhow, both seems like equally good to me, even it is different, also not different much nia..

This post has been edited by samkps: May 1 2014, 11:40 PM

For me, as long as it is financially strong, then it is okay for me.

I would rather refer to the yearly developer ranking done by The Edge. It is more meaningful that comparing their financial performance which excluded the qualitative aspect of the development.

SD own a lot of land due to its plantation division which can be develop, and merger with Guthrie before. GDV only measures those that have a development plan, not including land bank that have no development plans yet.

Okay... The Edge property award for 2013.. Oh no, IJM is missing from the list, this ranking credible or not..

1st - SP Setia
2nd - Sunway
3rd - Sime Darby
4th - UEM Sunrise
5th - IGB Corp
6th - Bandar Utama City Corp
7th - UOA Development
8th - Gamuda
9th - I&P
10th - Mah Sing

http://www.theedgemalaysia.com/property/25...l-the-show.html


As a matter of fact, both Sime Darby and I&P are under PNB..

Be frankly, SP Setia and Sime Darby personally for me is not that much distinctly different though...


In the recent Putra brand awards, both SP Setia and Sime Darby grab the gold medal in Property, followed by Sunway Silver, IJM and MahSing Bronze.

http://www.aaaa.org.my/index.php/activitie...esults-unveiled

This post has been edited by samkps: May 2 2014, 12:32 AM

Sam gor,

As a share investor, I will check the company's EPS and PE ratio as well as the consistency of the EPS. If EPS is increasing from year to year, it means that the company is performing very well. When EPS is increasing, the PE ratio will be decreased, and therefore the stock that you are buying is more valuable.

I&P, Sime Darby - they are the good developer for building the house but not converting the township into the wong areas buzzed with commercial activities similar to Setia Alam. If we goes to Bdr Bukit Raja, Denai Alam, Alam Impian....we can feel the township is pretty much desert although the location is good.

I visit Denai Alam sales office once before and noticed lots of unsold units in the chart, the SA told me that all those are the bumi units...70% to bumi and 30% to non-bumi... they are not going to convert the bumi lot to non bumi in future although it seem to me they problem to clear the stocks.

I&P - being to their sales office, the salesman just sitting there chit chatting among themselvies and never bother to entertain their walk in customers... really respect their tidak apa attitude.

After taking over by GLC, the developers and company direction is definite not the same anymore.

This post has been edited by KOHTT: May 2 2014, 12:00 AM

Top Gun gor..

True, got net profit earning, baru ada EPS, got EPS baru ada improvement on NTA and PE...

So the root cause still how much net profit for this company make in the past 5 years loh...

Yes, in terms of township development and planning, SP Setia is the frontier and always the best. That's why SEH 1 actually has been planned by these group of people, the planning for houses, infra, amenities, landscape all being done by the SP Setia. Masterplan have been set accordingly and currently is waiting for the execution.

Be frankly, I can't think of any problem why Sime Darby (if they take over SP Setia) don't have the capability to execute it. As a matter of fact, I believe the finishing quality for Sime Darby and I&P is even better than SP Setia..

Personal perception on a company sometimes is hard to be used as an effective tool to evaluate the real situation. The person you deal with maybe different compare to others. Anyhow, what will happen to Setia Ecohill 1 we canwill see in 1.5 years time. Any prediction now still prediction, and really can't know what is final outcome.

This post has been edited by samkps: May 2 2014, 12:22 AM

Okay, so that's mean if Sime Darby really push on the land bank for development, the GDV for SD will much higher than SP Setia?

Theriotically yes. But of cause unrealistic.