Yanlord Land reports 11.2% rise in 3Q earnings to $128 mil on higher margins

Yanlord Land reports 11.2% rise in 3Q earnings to $128 mil on higher margins

By: 
PC Lee
13/11/17, 10:25 pm

SINGAPORE (Nov 13): Yanlord Land Group, the developer focusing on developing high-end integrated property projects in high-growth China cities, reported 3Q earnings rose 11.2% to RMB627.5 million ($128.6 million) from RMB564.2 million a year ago.

Revenue for the period declined to RMB3.764 billion in 3Q17 from RMB5.505 billion in 3Q16, in line with the group’s delivery schedule whereby a lower GFA was delivered in 3Q17. Despite the lower revenue of the group, the delivery of higher margin residential units and car parks helped propel gross profit margin to 41.8% in 3Q17 from 27.2% in 3Q16.

Consequently, gross profit rose 4.9% to RMB1.57 billion in 3Q 2017 as compared to RMB1.5 billion in 3Q 2016.

As at Sept 30, cash and cash equivalents stood at RMB16.417 billion. Underscored by the group’s land acquisition strategy in 9M17, net debt to total equity gearing ratio stood at 70.1%.

Looking ahead, the group will continue to launch a new project and new batches of its existing projects in 4Q17 namely, Oasis New Island Gardens Phase 3 in Nanjing, Yanlord on the Park in Shanghai and Riverbay Gardens in Suzhou.

Shares in Yanlord closed at $1.72 on Monday.

ThaiBev’s ops performance to pick up in FY19; issues debentures

SINGAPORE (Sept 20): ThaiBev announced that it had issued THB77 billion ($3.3 billion) in debentures after the company last month announced it was looking to issue debentures to replace its short-term debts. This refinancing move and fixing of coupon rates should allay investors' concerns on the group’s exposure in light of the rising interest rate environment, say analysts. “We estimate that the group will be able to deleverage its balance sheet progressively over time given its strong operating cashflows,” says DBS Group Research analyst Andy Sim in a Thursday report. Looking ....
Read More >>

Najib looking at 21 charges in third arrest this year

SINGAPORE (Sept 20): Former Malaysian prime minister Najib Razak will be looking a total of 21 charges against him involving US$681 million ($932.8 million) transferred into his personal bank account, said Malaysian Deputy Inspector-General of police Tan Sri Noor Rashid Ibrahim in a statement today. See: Najib to be charged tomorrow for RM2.6 bil in accounts The US Department of Justice (DoJ) has alleged that the money was transferred into Najib’s account from the scandal ridden state fund 1Malaysia Development Berhad (1MDB). The charges include nine counts of receiving illegal proc....
Read More >>

Singapore and Russia ink MOUs to foster closer collaboration between startup ecosystems

SINGAPORE (Sept 20): Singapore yesterday signed two memorandum of understanding (MOU), at the High Level Russia-Singapore Inter-Governmental Commission meeting. These MOU were signed to encourage collaboration between the two countries to co-create innovative tech solutions and products, as Enterprise Singapore sees potential for Singapore companies and startups to collaborate with Russia’s strong science and technology capabilities, and established research and innovation culture. Enterprise Singapore signed the first MOU with the Russian Export Centre, Skolkovo Foundation and Sistema....
Read More >>