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(f) Strategic Plan
Sycal’s local construction base in Perak has full of potential with over 5 million
acre of land and 10 administrative district covering various industry and
communities. Under Perbadanan Kemajuan Negeri Perak (PKNP), upcoming
development in the state will focus in creating integrated township and
develop plan with the ultimate goal of raising overall socio-economic
values in the area.
Cygal Development Sdn Bhd had owned approx RM 69 million, which will see
periodic repayment starting from year 2014 to 2016. The huge cash coming in
might bring an opportunity for Sycal to finally reward the patient
shareholder with a possible dividend.
Sycal might look up into the opportunity of having more jobs in the future when
Pullman Hotel (in Bangsar) starts to expand for their next spot where they
had a 12 year contract running until 2022.
With on-going projects from Sitiawan, Cheras, Ipoh and Taiping, with their
upcoming launch in it's 5.37 acre of land in Johor, Sycal will be looking to see
it's properties development activities to gain up significant portion of profit
contribution in the next 5 to 10 years with potential total GDV of RM1.2
Summary of Opportunities:
- Repayment of RM 69m from 2014 to 2016, boosting company cash
position, and also putting up chances for a dividend for shareholder.
- Cygal Development Sdn Bhd had a 12 year contract with Pullman Hotel
until 2022, which puts up opportunity for Sycal for more jobs in the coming
days when Pullman Hotel starts to expand for their next spot.
- Looking to see it's properties development activities to snap up significant
portion of profit contribution in the next 5 to 10 years with on going
projects from Cheras, Sitiawan, Taiping and Ipoh
- Progress billing on existing construction book order of RM 500 million, as
well as potential RM 1.2 billion GDV in future township development in
The near term prospects is expected to remain challenging for the domestic
construction and property industries in view of the weakness in the local
currency, effect of GST and strict lending policies by banks
Downtrend towards the first half of the year 2016
Picture (Annual Report 2015) indicates that the Group obtains new borrowings
and tried to sell off their assets to reduce it but is unable to cover up the total
amount of borrowings.
Sycal acquired plant and equipment by hire purchase, term loan, and cash
payments where RM86,000 is used under term loan.
Sycal had broken away from the down trend chart recently after a strong
rebound on the floor price at the range of RM 0.31. This indicates a new
trend in the making.
Even when Sycal had a significant of debts, it’s positive cash flow and careful
management overcomes the amount of debts.
- Maintain flow of strong volume in the trend chart after being hit in the
range of RM 0.31.
- Sycal next resistant should sit at RM 0.40.
- Going through the current local currency, effect of GST and strict lending
Figure 1 http://www.sharetisfy.com/2016/07/sycal-9717-sycal-point-of-perak.html