Yanlord Land

[winston]

Not vested.

DJ MARKET TALK: RBS Starts Yanlord Land At Buy, S$2.76 Target

0118 GMT [Dow Jones] STOCK CALL: Royal Bank of Scotland starts Yanlord Land (Z25.SG) at Buy with S$2.76 target price. Says developer is best proxy for Singapore investors looking for exposure to China's rapidly growing residential property market, with share price expected to track physical market transaction volumes, average selling prices in China.

( Why can a Singaporean buy the Chinese listed properties counter in HK ? )

Notes Yanlord's strong cash position - with S$597 million raised from recent sale of new shares, convertible bonds boosting cash balance to S$1.85 billion - allows it to buy more land; "we believe Yanlord's quality products will continue to attract premium prices outside Shanghai".

Source: Dow Jones Newswire

[millionairemind]

Published December 17, 2009

Yanlord in talks for syndicated US$350m loan
It has hired HSBC, Stanchart, RBS to arrange the 3-year loan, says a source

(SINGAPORE) Yanlord Land Group Ltd, a property developer in China, hired HSBC Holdings, Standard Chartered and Royal Bank of Scotland Group to help it borrow US$350 million, according to a person familiar with the matter.

Singapore-based Yanlord told the UK banks that it may pay interest of 3.23 percentage points more than the London interbank offered rate for a three-year loan, said the person, who asked not to be identified as the talks are private.

The three-month Libor for dollars was last at 0.2543 per cent, according to data compiled by Bloomberg.

Yanlord has ventures in eight Chinese cities including Shanghai, Tianjin and Chengdu.

Its residential buildings are typically large-scale projects which are aimed at affluent buyers, according to information on its website.

The company has $338 million of bonds maturing in 2012 and a further $375 million in 2014, Bloomberg data show.

'The syndicated loan hasn't been finalised yet,' Yanlord spokeswoman Alice Xin Ye said in an e-mailed response to questions from Bloomberg News yesterday. She did not elaborate. -- Bloomberg

[winston]

Not vested.

YANLORD LAND - Chinese developer Yanlord said on Friday it bought a prime residential site in the southwestern city of Chengdu for 1.96 billion yuan.

Yanlord also said it has signed a three-year $400 million syndicated term loan agreement to get working capital and fund its expansion plans.

Source: Reuters

[winston]

Not vested.

DJ MARKET TALK: Yanlord Down 0.9%; New Loan More Expensive - JPM

0240 GMT [Dow Jones] Yanlord Land (Z25.SG) slips after announcing new loan at higher interest cost; shares down 0.9% at S$2.26 vs FTSE ST All Share index +0.1% with support tipped at last week's low of S$2.18.

China-based property developer signs 3-year US$400 million loan facility to refinance existing loan, fund general corporate activities including land purchase. Also announces it has acquired residential site in Chengdu for CNY1.96 billion.

But JPMorgan notes new facility interest margin is 280 bps above LIBOR/HIBOR vs 150 bps margin for previous term loan. "Whilst we acknowledge the increase in margin over the last 2 years and hence the greater margin, we are surprised by the early refinancing of the 3-year term loan."

Maintains Neutral rating and S$2.90 target price. "Whilst we believe that valuation is undemanding at the current level, share price performance is likely to be dominated by sector newsflow and colored by the uncertain outlook in the near term in our view."

Source: Dow Jones Newswire

[winston]

JPM selling Yanlord. Stake down to 4.95% now.

[millionairemind]

This ticker kena hammered today.

January 13, 2010, 6.14 pm (Singapore time)

Yanlord buys China land for $309 mln

SINGAPORE - Singapore-listed developer Yanlord said on Wednesday it has bought two adjacent land parcels in Hainan, China for 2.11 billion yuan (US$309.1 million).

It bought the land, which has been slated for development of a five-star hotel and serviced residences, through a joint venture with Singapore-based Jing Hope Holdings. -- REUTERS

[winston]

Not vested. Agree that RMB 13,600 per sq m is not cheap and competition is intensifying in Sanya.

DJ MARKET TALK: Yanlord Land +0.9%; Hainan Land Cost "Rich" - JPM

0153 GMT [Dow Jones] Yanlord Land (Z25.SG) +0.9% at S$2.14, tracking broad market gains. News of developer's venture into hospitality business doing little to generate interest as volume mere fraction of yesterday's 21.3 million shares.

Yanlord plans to build 5-star hotel, serviced residences in Hainan's Sanya region after buying two adjacent sites for CNY2.1 billion, or CNY13,600/sq m. JPMorgan, which has Neutral call with S$2.90 target, says land cost of CNY13,600/sq m "relatively rich", not expected to boost NAV estimate much; "in addition, we see potential intense competition for high-end hospitality sector in Sanya as more hotels open in the next few years."

Near-term share price upside expected to be minimal given lingering concerns over impact of China's monetary tightening measures on property market. Resistance tipped at 20-day moving average, last at S$2.18.

Source: Dow Jones Newswire

[winston]

Not vested.

DJ MARKET TALK: RBS Raises Yanlord Target To S$3.00 From S$2.76

0701 GMT [Dow Jones] STOCK CALL: Royal Bank of Scotland raises Yanlord Land (Z25.SG) target price to S$3.00 from S$2.76 after increasing FY10, FY11 earnings forecasts by 13%, 12%, respectively, due to higher selling price assumptions following better than expected pricing for recent project launches, and addition of new projects. Keeps at Buy.

Says stock offers good way for investors to get exposure to China property sector; "we believe Yanlord is the best proxy for Singapore investors looking for exposure to China's rapidly growing residential property market." Notes Yanlord's revenue, net profit growth forecast to grow faster than Singapore property sector average over next 2 years.

But adds, stock price will likely be much more volatile than other Singapore developers due to recent China policy swings and credit tightening. Shares +2.3% at S$1.76.


Source: Dow Jones Neswire

[LenaHuat]

Yanlord and Ho Bee, through a 60:40 equity ownership respectively, jointly acquired a 13.69 hectares residential development site in Qingpu area, Shanghai for RMB3.82 billion. The site can generate 246,487 sqm of residential GFA.

This is RMB15,500 sqm

[millionairemind]

This was the news LH was referring to.

February 17, 2010, 3.18 pm (Singapore time)

Ho Bee, Yanlord to buy Shanghai site for US$559 million

By LYNETTE KHOO

Yanlord Land Group and Ho Bee Investment have made a joint acquisition of a 13.69-hectare prime residential site in Qingpu District, Shanghai for 3.82 billion yuan (US$559 million) in a public land auction.

With a total planned gross floor area of about 246,487 sqm, the average purchase price works out to be 15,498 yuan per sqm.

Yanlord, through its subsidiary Shanghai Yanlord Yangpu Property Co, will have an equity ownership of 60 per cent of the project while Ho Bee will have 40 per cent.

'The latest acquisition of the Qingpu land parcel reflects our continued confidence in the potential of Shanghai's real estate sector and presents a unique opportunity for investment in large-scale high-end residential developments amidst the growing scarcity of sizable prime residential development sites within Shanghai's city centre,' said Zhong Sheng Jian, Yanlord chairman and chief executive officer.

'With the continued development of Shanghai as a metropolitan city and the sustained extension of its influence as the centre of development for the Yangtze River Delta Region, we are confident that this latest acquisition will contribute significantly to our future growth,' he added.
http://www.businesstimes.com.sg/sub/lat ... 83,00.html?