27 December 2013

Sim Lian 2014Q1 Result Summary - December 2013

Please allow me to post a summary of Sim Liang 2014Q1 Result although it has been released since last month. Below is the screen shot from my worksheet, and I hope that it could give you some highlight on the performance compared to FY2013.

Income Statement Comparison
Balance Sheet Comparison (Part 1)

Balance Sheet Comparison - Part 2
Cash Flow Statement Comparison - Part 1

Cash Flow Statement Comparison - Part 2

Management Comment on Market Outlook FY2014


  1. Refer to note 8 of balance sheet of Q1 announcement, the increase in trade and other payables is mainly due to progress billings received in advance for several development projects which revenue and related expenses are accounted for using the completion of contract method (“COC”).

  2. Earnings will be lumpy as projects will be accounted for using the COC method. And FYI, Waterview EC will be getting TOP within this 2 weeks = lump sum profit

  3. Your method of analysis is not very good. You do not need to analyse every single detail in the financial statements.
    The key figures such as ROE, ROA, P/FCF are instead missing. These simple to calculate ratios will help explain more of the story.

    On a side note, I am still waiting to hear any announcement from SL about the land at Venture Ave. I believe it will be a good catalyst for exposure of the company to the general public.

    1. Thank you for your comments. I will improve it further. :) To me, I had been monitoring it closely and may further average down if the price could be at, say 70c and below range.

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