Yanlord Land

[winston]

Not vested

DJ MARKET TALK: Goldman Sachs Ups Yanlord To Buy,But Trims Target

0154 GMT [Dow Jones] STOCK CALL: Goldman Sachs upgrades Yanlord Land (Z25.SG) to Buy from Neutral, citing favorable risk-reward profile after recent sharp price fall on concerns over impact of China's tightening measures on high-end developer's sales. Notes stock has corrected by 17% vs 8% fall by HK-listed China developers in past month.

Says Yanlord's solid management execution, well-diversified development pipeline could result in resilient earnings, margins in 2010; "we expect sufficient new project launch pipeline to provide good earnings growth visibility."

Still, trims target price to S$2.28 from S$2.56, based on 20% discount to 2010 NAV estimate vs 10% discount previously to reflect increased uncertainty arising from recent government macro tightening. Stock +1.7% at S$1.75.

Source: Dow Jones Newswire

[winston]

Not vested.

DJ MARKET TALK: Yanlord Down 1.1%; China Policy Risks Weigh

0258 GMT [Dow Jones] Yanlord Land (Z25.SG) last down 1.1% at S$1.75 on concerns future earnings may disappoint after China-based developer's FY09 performance falls short of analysts' expectations. Concerns compounded by Beijing's recent efforts to curb bank lending.

Net profit +44% at S$325.4 million on increased sales, average selling prices, revaluation gains on investment properties. But excluding S$121 million revaluation gains, CIMB says core earnings 12.4% below consensus estimates; "its substantial exposure to the high-end segment warrants a bigger RNAV discount than its peers as we expect higher policy risks for luxury segments."

Keeps Neutral call, cuts target to S$1.97 from S$2.19 based on 30% discount to NAV estimate vs 20% initially.

JPMorgan, which has Neutral call with S$2.90 target, says while Yanlord not concerned about tightening measures, "from past experience, sales would be relatively slow during a period of uncertainty." Support eyed at last week's low of S$1.70.

Source: Dow Jones Newswire

[winston]

Not vested.

DJ MARKET TALK: JPMorgan Upgrades Yanlord Land To Overweight

0645 GMT [Dow Jones] STOCK CALL: JPMorgan upgrades Yanlord Land (Z25.SG) to Overweight from Neutral as says valuation looks attractive following recent underperformance.

Broker notes stock has lagged STI by 7% year to date and by 19% in last 3 months, is currently trading at "undemanding valuation" on PE ratios and at 37% discount to net asset value (NAV).

"With policy risks largely priced in and contract sales year-to-date at a reasonable level, we see more risk to the upside." Broker prefers Yanlord over Singapore developers as thinks local developers are likely to de-rate as policy overhang persists amid worries of property market cooling measures.

But cuts target price to S$2.60 from S$2.90 to factor in discount to NAV. Shares down 1.0% at S$1.92. (KIG)

Source: Dow Jones Newswire

[millionairemind]

"With policy risks largely priced in and contract sales year-to-date at a reasonable level, we see more risk to the upside." Broker prefers Yanlord over Singapore developers as thinks local developers are likely to de-rate as policy overhang persists amid worries of property market cooling measures.

"MORE RISK TO THE UPSIDE"?? What an interesting way to phrase it.

[millionairemind]

DJ MARKET TALK: JPMorgan Upgrades Yanlord Land To Overweight

0645 GMT [Dow Jones] STOCK CALL: JPMorgan upgrades Yanlord Land (Z25.SG) to Overweight from Neutral as says valuation looks attractive following recent underperformance.

Broker notes stock has lagged STI by 7% year to date and by 19% in last 3 months, is currently trading at "undemanding valuation" on PE ratios and at 37% discount to net asset value (NAV).

"With policy risks largely priced in and contract sales year-to-date at a reasonable level, we see more risk to the upside." Broker prefers Yanlord over Singapore developers as thinks local developers are likely to de-rate as policy overhang persists amid worries of property market cooling measures.

But cuts target price to S$2.60 from S$2.90 to factor in discount to NAV. Shares down 1.0% at S$1.92. (KIG)

Source: Dow Jones Newswire

Ya right....

Profit drops 46%... looks like the Chinese gahmen anti speculative measures are beginning to take bite.

http://info.sgx.com/webcoranncatth.nsf/ ... esults.pdf

[Musicwhiz]

Brokers have a funny way of talking. I don't believe them 110% of the time.

[qxing78]

Since Shanghai market leads the world in stock market recovery since Oct 2008, and I remembered Yanlord also hit a bottom of around 50c in Oct2008, maybe it is worthwhile to watch Yanlord price.

[LenaHuat]

Hi qxing78

Yesterday's BT carried a full page advertisement of Yanlord's Zhuhai MarinaFront project. It looks really good :-
http://www.yanlordland.com/en/our_business2.asp?UnitID=29
Zhuhai has been earmarked to be the leisure/recreational region of the ZhuJiang economic zone. Have U tiptoed in to pick up this ticker?

[qxing78]

Not yet pick up, but definitely will be looking at Yanlord and Ying Li.
Also not forgetting Reit like Cap Retail China Trust or Metro.
Meanwhile, just be patient waiting.
Still in >80% Cash position now.

[LenaHuat]

Since Shanghai market leads the world in stock market recovery since Oct 2008, and I remembered Yanlord also hit a bottom of around 50c in Oct2008, maybe it is worthwhile to watch Yanlord price.

Thank QQ, qxing78. Since SSE led the world in stock market recovery since 2008, it's leading the world market into the bear's den . It's been correcting for some 10 months now.