Hangzhou

How EC World REIT presents attractive opportunities beyond its high yield

SINGAPORE (Oct 24): RHB Research likes EC World REIT for its strategic market positioning and favourable logistics outlook, post a recent visit to the REIT’s assets in Hangzhou that mainly cater to the e-commerce, logistics and supply-chain segments.

In an unrated report on Wednesday, analyst Vijay Natarajan highlights that the majority (80%) of EC World REIT’s tenants operate to service these sectors, which have been growing at a fast pace. The REIT’s seven assets in China – six in Hangzhou and one in Wuhan – are valued at $1.4 billion.

Sapphire Corp secures $87.2 mil engineering & construction contract in Hangzhou

SINGAPORE (Sept 17): Sapphire Corporation has secured a contract valued at RMB 436 million ($87.2 million) for the engineering and construction of core infrastructure structures for an urban subway system in Hangzhou, China.

The project involves the construction of a subway station and two intervals, including underground passenger pathways access in an urban environment.

As the highlight of the project, this showcases the Sapphire’s multi-disciplinary engineering and project management capabilities, says the group in a filing on Monday.

Yanlord acquires prime residential development site in Hangzhou for $600.5 mil

SINGAPORE (July 9): Yanlord Land Group announced that its wholly-owned subsidiary, Hangzhou Renyuan Property Development, has acquired a prime residential development site in Hangzhou, China for about RMB 2.94 billion ($600.5 million).

The site has a gross floor area (GFA) of 154,500 sqm and was acquired through a public land auction.

Located within the Zhijiang Resort Centre of Xihu District, the site has a plot ratio of up to 2.0 times and benefits from local government’s initiatives to develop the area into a key cultural and lifestyle centre in Zhejiang Province.

EC World REIT started at 'buy' as prime beneficiary of Hangzhou logistics boom

SINGAPORE (Apr 16): Soochow CSSD Capital Markets is starting coverage of EC World REIT at “buy” with a price target of 88 cents on the belief that the trust is well-positioned to benefit from China’s growing e-commerce market, to which its currently has about a 29% exposure.

In an initiation report on Monday, analyst Tan Cheng Wee highlights the trust as a prime beneficiary of Hangzhou’s ongoing logistics boom with its rising exposure to the e-commerce sector, as well as yield anchored by steady master-leased assets.

CWG International buys Hangzhou land for $234 mil

SINGAPORE (Jan 15): CWG International continues to build up its land bank in China.

Indirect subsidiary, Suzhou Chiway Jingcheng Real Estate Co., has put in the winning bid in an auction for the land use rights of a land parcel located in Yuhang District, Hangzhou city, Zhejiang province, China,

The land parcel will be used for residential and commercial purposes, and comprises a site area of 47,683 sqm with a plot ratio of 2. The maximum gross floor area is 95,366 sqm.

The total consideration for the land parcel is RMB 1.14 million ($234 million).

Alibaba prepares a grand retail experiment for Singles' Day

HONG KONG (Nov 9): Jack Ma beat Jeff Bezos into grocery stores. Now China’s richest man is again showing his rival the way by targeting 6 million mom-and-pop shops, the biggest test yet of a vision to reinvent physical retail.

Best World posts 36.4% growth in 3Q earnings to $12.2 mil on lower expenses

SINGAPORE (Nov 8): Direct-seller Best World International has announced a 36.4% rise in earnings of $12.2 million for the three months ended Sept, up from $8.9 million a year ago on lower expenses.

Revenue for 3Q17 came in 10.3% lower at $46.8 million compared to $52.2 million in the previous year, due to lower contribution from Taiwan and on the back of sustained export growth to China.

Alibaba to open research labs in Singapore and other countries with launch of DAMO Academy

SINGAPORE (Oct 11): Chinese e-commerce giant Alibaba Group Holding will be opening a research lab in Singapore as part of its newly-launched global technology research program, Alibaba DAMO Academy.

The group expects to invest over US$15 billion ($20.4 billion) in research and development over the next three years through this new initiative.

New China developments to boost CapitaLand’s earnings this year, and beyond

SINGAPORE (July 5): Maybank Kim Eng Research is maintaining its “hold” call on property developer CapitaLand at an unchanged target price of $3.75, while noting that valuations appear fair following its strong rally in the year to date.

This follows the research team’s recent visit to three newly-completed integrated developments, two shopping malls, and one office building owned by CapitaLand, which are worth a combined RMB24.6 billion ($4.9 billion) and located in the Chinese cities of Wuhan, Shenzhen, Hangzhou and Shanghai.

Growth opportunities abound for Best World beyond China

SINGAPORE (May 22): DBS Vickers Securities continues to rate Best World International at “buy” with an adjusted target price of $1.65 after hosting the developer, manufacturer and distributor of skincare and wellness products’ non-deal roadshow (NDR) in Hong Kong over May 18-19 last week.

In a Monday report, analyst Ling Lee Keng recalls that most funds at the roadshow were new to Best World, although some were already familiar with the industry and operating environment.

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