Yanlord Land

[winston]

Not vested

RESEARCH ALERT-RBS cuts Yanlord Land to hold from buy, target S$1.46

SINGAPORE, May 26 (Reuters) - RBS has cut its rating for Singapore-listed Chinese property developer Yanlord Land to hold from buy and lowered its target price to S$1.46 from S$2.07.

STATEMENT: RBS said that Yanlord Land could fall short of its full-year sales target of 11 billion yuan by launching only prime, high-end projects for the rest of the year, due to purchase limits set by the Chinese government.

The brokerage also expects Yanlord to record a low gross margin of 35 percent, but a net gearing of 71 percent by the end of the year which is relatively high for Chinese property developers.

At 0300 GMT, shares of Yanlord Land were flat at S$1.33, and have plunged 20.8 percent since the start of the year.

Source: Reuters

[LenaHuat]

I have lost touch with this ticker. Just realized that it has gone over the cliff .Chinese credit is going to be further squeezed.

[Aspellian]

I have lost touch with this ticker. Just realized that it has gone over the cliff .Chinese credit is going to be further squeezed.

but overall i think Yanlord still a good counter; similar to capitaland (my feel) - but probably the share price will be depressed for a while - hope to pick this up on the cheap too.

any bad news now will be severely dealt with by the market....

[LenaHuat]

Hi Aspellian
Look at the pile of debts, the interest payable on them, the pile of convertible bonds.
Maybe at $0.50.

[Aspellian]

Hi Aspellian
Look at the pile of debts, the interest payable on them, the pile of convertible bonds.
Maybe at $0.50.

Hi LenaJie,

tks for pointing this... i remembered last financial crisis, quite a few counters with convertible bonds imploded (remember celestial nutrifoods and biotreat)... will be careful on this counter unless the "margin of safety" is wide.

[winston]

Not vested.

Singapore-listed Chinese property developer Yanlord said on Wednesday it had sold 155, or 60.3 percent, of the 257 apartment units on the first day of launch at its Yanlord Sunland Gardens project in Shanghai, China.

The company achieved 1.7 billion yuan ($266.6 million) in pre-sales of the units, it said.

Source: Reuters

[winston]

Not vested

RESEARCH ALERT-JPMorgan cuts Yanlord target to S$1.40

SINGAPORE, Sept 6 (Reuters) - JPMorgan has lowered its target price on Singapore-listed Chinese property developer Yanlord Land to S$1.40 from S$2.20 but maintained its overweight rating.

STATEMENT: JPMorgan said it had reduced Yanlord's core earnings estimates by 8 percent for 2011 fiscal year and by 13 percent for 2012 to take into account the slow rate of sales and a potential delay in revenue recognition.

However, the bank said Yanlord's valuation was undemanding.

The stock was trading at 0.7 times historical book, six times 2011 earnings estimate and 67 percent discount to revised net asset value forecast, JPMorgan said.

It added that Yanlord's gearing was currently at 45 percent, with 5.4 billion yuan ($845.6 million) cash on hand. It estimated that gearing for the group is likely to peak this year at 67 percent, but this is still a reasonable level, it said.

At 0144 GMT, Yanlord shares were down 1.7 percent at S$0.865. The stock has fallen around 49 percent so far this year.


Source: Reuters

[winston]

not vested

Singapore-listed Chinese developer Yanlord said on Wednesday, its third-quarter net profit plunged 99 percent to 6.5 million yuan ($1 million) from a year earlier, hurt by lower gross floor area delivered to customers and average selling price per square metre, as well as greater net foreign exchange loss.

Source: Reuters

[winston]

by behappyalways :-


In case you missed this announcement

http://info.sgx.com/webcorannc.nsf/Anno ... endocument

Peter Lim increased his stake from 4.96% to 5.24%

[winston]

Not vested

Wee Ee Chao also raised his stake from 4.92% to 5.01%

Hmmm..... why are all the BBs revealing their stake now ?