Yanlord Land Group

Yanlord's offer for UE is not priced to attract acceptances — but what if it does?

SINGAPORE (Nov 4): On Oct 25, Yanlord Land Group announced that it had acquired the 51% in Yanlord-Perennial Investment (Singapore) that it did not own and renamed the company Yanlord Investment (Singapore). Of this 51%, 45% belonged to Perennial Real ­Estate Holdings, and 6% to Heng Yue Holdings. In the process, Yanlord took over the stakes of United Engineers owned by PREH and Heng Yue, raising Yanlord’s stakes in UE and WBL Corp to 35.27% and 29.9% respectively. (WBL is owned by UE.)

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Acceptance rate for Yanlord's general offer for United Engineers shares likely to be low, says OCBC

SINGAPORE (Oct 29): OCBC Investment Research believes Yanlord Land Group’s mandatory general offer for all the shares in United Engineers (UE) that it does not hold is “unlikely to gain many acceptances”.

China-based property developer Yanlord on Oct 25 had made a $2.60 per share offer to buy over UE, valuing the company at $1.66 billion.

Yanlord Land revives $2.60 per share offer to buy over United Engineers

SINGAPORE (Oct 25): Yanlord Land Group, the China-based property developer, has made an offer to pay $2.60 for each United Engineers share it does not own.

The deal values UE, one of Singapore's oldest companies with businesses in property and hospitality sectors, at $1.66 billion.

The offer price is at a discount 16.6% discount to UE’s net asset value (NAV) of $3.12 as at June 30.

Yanlord clinches top spot; Oxley leads in ROE, Bukit Sembawang in shareholder returns

SINGAPORE (Sept 16): The property sector, together with finance, logistics and manufacturing, is the pillar of any modern economy. Scale is critical to success, and those with the financial muscle can steadily lever up to become even bigger.

Thirteen companies qualified for the property sector of the Billion Dollar Club, each with a market value above the billion-dollar treshold. The only industry sector with a higher number of qualifying companies was real estate investment trusts — with a total of 24 qualifying companies.

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Dovish Fed hints at rate cuts ahead; Astrea V PE bonds not as popular as predecessor

SINGAPORE (June 24): As expected, the US Federal Reserve kept interest rates unchanged at between 2.25% and 2.5%, following the conclusion of the Federal Open Market Committee (FOMC) meeting on June 18 and 19. This came amid growing economic uncertainty and risks despite a largely robust US economy so far this year.

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Yanlord rakes in $265 mil in pre-sales from Shenzhen property launch

SINGAPORE (June 19): Real estate developer Yanlord Land Group has registered total pre-sales amounting to some RMB 1.34 billion ($265.2 million) from the inaugural launch of Yanlord Four Seasons Gardens in Shenzhen, China.

Yanlord sold 283 of the 323 apartment units launched during the opening weekend at an average selling price of approximately RMB 51,000 per square metre.

The total gross floor area of the 283 units sold amounted to some 26,300 sqm.

Yanlord downgraded by DBS amid continued sluggish presales performance

SINGAPORE (May 24): DBS Group Research is downgrading Yanlord Land Group to “hold” with a lower target price of $1.47, cutting its recommendation for the property developer from “buy” with a target price at $1.62 previously.

This comes as DBS slashes Yanlord’s earnings estimates for FY19F and FY20F by 30% and 9% respectively. This translates to price-to-earnings (PE) ratio valuations of 6.0 times for FY19F and 5.8% for FY20F, which the brokerage deems “no longer attractive”.

Yanlord Land kept at 'buy' by OCBC on improving Chinese property market

SINGAPORE (Apr 15): Yanlord Land Group is seen by OCBC Investment Research as a beneficiary of improved sentiment in the Chinese property market.

Since the start of the year, the easing credit environment and a dovish Fed have led to more conducive onshore and offshore funding options for developers, says OCBC.

The recent introduction of new hukou -- household registration -- reforms by NDRC (National Development and Reform Commission) was another positive development for the sector, the research house adds.

OCBC cuts FY19 estimates for Yanlord, cautious on high gearing & volatile market conditions

SINGAPORE (Mar 1): OCBC Investment Research is maintaining its “buy” call on Yanlord Land Group with a lower fair value of $1.75 compared to $2.04 previously, after rolling forward valuations and applying an unchanged P/E target peg of 5 times to core FY19 EPS forecasts.

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.

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