SINGAPORE (Dec 3): Zhong Sheng Jian, chairman of China-based, Singapore-listed developer Yanlord Land Group, is happy for the buyers of his projects. “The longer they sleep in it, the richer they become,” Zhong tells The Edge Singapore, referring to the appreciation of the properties’ value.

He feels apologetic towards Yanlord shareholders, though. “They wonder why the share price never goes up. I feel that I owe them something, but that’s beyond my control. What I can do is to run the company properly,” he says.

On Nov 13, the company announced that, at RMB3.29 billion ($651 million), earnings for the nine months ended Sept 30 had already overtaken full-year earnings of RMB3.21 billion for FY2017. Earnings for 3QFY2018 were RMB1 billion, up 61.3% y-o-y, while revenue in the same period, driven by higher average selling price and even higher sales, grew 57.1% y-o-y to RMB5.7 billion.

To continue reading,

Sign in to access this Premium article.

Subscription entitlements:

Less than $9 per month
3 Simultaneous logins across all devices
Unlimited access to latest and premium articles
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook