<div class=newsTextDataWrapInner><p>This article first appeared in <em>The Edge Financial Daily,</em> on December 22, 2015.</p></div>

<div class=newsTextDataWrapInner><p>&nbsp;</p></div>

<div class=newsTextDataWrapInner><p><strong>SYF Resources Bhd (-ve)</strong></p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>WOOD furniture and board manufacturer cum property developer SYF (Fundamental: 1.1/3, Valuation: 1.1/3) has gained 6.1% to a 1-year high of 61 sen since announcing its 1QFYJul2016 results last Wednesday.&nbsp;</p></div>

<div class=newsTextDataWrapInner><p>For 1QFY2016, revenue surged 58.1% y-y to RM94.9 million while net profit jumped 110.2% to RM10.8 million. This was mainly due to higher property sales and, to a lesser extent, rubberwood furniture exports.&nbsp;</p></div>

<div class=newsTextDataWrapInner><p>In FY2015, furniture and board segments accounted for 71% of its revenue with the balance from property development projects in Sungai Long and Semenyih. In terms of earnings, furniture and property development each contributed roughly half of its FY2015 net profits.&nbsp;</p></div>

<div class=newsTextDataWrapInner><p>According to The Edge Financial Daily, the company expects to achieve a double-digit growth in FY2016 and may introduce a dividend payout policy in FY2017. SYF expects to launch a RM160 million joint venture residential development in Sungai Long and its second board manufacturing plant to commence operations in FY2016.&nbsp;</p></div>

<div class=newsTextDataWrapInner><p><img alt="syf_swm_fd221215_theedgemarkets" src="http://edgemarkets.s3-ap-southeast-1.amazonaws.com/pictures/syf_swm_fd221215_theedgemarkets.png" style="height:869px; width:666px" /></p></div>


This article first appeared in The Edge Financial Daily, on December 22, 2015.

 

SYF Resources Bhd (-ve)

WOOD furniture and board manufacturer cum property developer SYF (Fundamental: 1.1/3, Valuation: 1.1/3) has gained 6.1% to a 1-year...

Stock With Momentum: SYF Resources

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