United Engineers (UE) on Friday morning said it has lost its free float and will be delisted after the close of Chinese developer Yanlord Land Group's mandatory conditional cash offer. As at 5pm on Thursday, Yanlord owned, controlled or has agreed to acquire about 90.27 per cent of UE's ordinary shares. That means that less than 10 per cent of UE shares are now held by the public. The...
Yanlord
Singapore-listed Chinese developer Yanlord Land Group has bought two adjacent residential sites in the southern Chinese city of Zhuhai for 3 billion yuan (S$598 million) together with Ho Bee Investment and Shanghai Youyou Group. The sites have a combined gross floor area of 499,329 sq m and were purchased at an average 6,000 yuan per sq m, Yanlord said yesterday. Yanlord will own 60 per cent of the joint...
Property developer Yanlord Land has appointed HSBC, JP Morgan and RBS as joint lead managers and bookrunners for its proposed US dollar bond offering. In a statement to the SGX on Wednesday, Yanlord said the issue was expected to be rated "Ba2" by ratings agency Moody's and "BB" by Standard & Poor's. The Singapore-listed company said the bonds would be guaranteed by certain subsidiaries of the...
Mainboard-listed Yanlord Group and Reco Yizhong have jointly acquired a residential land site in Tianjin Jinnan District in China. Yanlord is a property developer specialising in developing high-end commercial and residential projects in Chinese growth cities, while Reco Yizhong is an affiliate of the Government of Singapore Investment Corporation (GIC) Real Estate. Both parties acquired the prime...
Yanlord Land Group and Ho Bee Investment have acquired six prime residential development sites for 504.6 million yuan or S$102.9 million in Hebei's Tangshan Nanhu Eco-City in China. This works out to an average purchase price of 1,302 yuan or S$265.6 per square metres. The purchase was made through their new joint venture company Yanlord Ho Bee Investments. In a statement, Yanlord Ho Bee said the sites...
Mainboard-listed Yanlord Land Group is tying up with an affiliate of GIC Real Estate to develop and manage properties in China. Yanlord and Reco Yizhong have set up a subsidiary for this purpose with a registered capital of US$300 million ($416 million). The subsidiary, named Yanlord Real Estate (Chengdu), will manage the prime residential development site in Panchenggang, Jinjiang District, Chengdu. The...
Mainboard-listed Chinese developer Yanlord said today that its first quarter net profit fell by 23 per cent on-year to S$18.7 million. The decline in profit follows a 7 per cent drop in revenue from the year ago period to S$173.1 million. Yanlord says the decrease in revenue was mainly attributable to a reduction in the gross floor area delivered over the period. Other than seeing a fall in revenue, the...
Mainboard-listed Chinese property developer Yanlord Land has booked a 16 per cent drop in fourth quarter net profit to S$118.4 million. This came on the back of a 48 per cent fall in revenue to S$214 million. Yanlord said the decline in fourth quarter revenue was due to a decrease in gross floor area delivered. For all of 2009, net profit rose 44 per cent to S$325.3 million. Yanlord is proposing a...
Singapore-listed property developers Yanlord and Ho Bee have jointly acquired a 13.69 hectare prime residential development site in Shanghai's Qingpu District for around S$784 million. The site is situated a mere 5.5 km from the heart of the Hongqiao Commercial District which has been earmarked by the Shanghai municipal government to be the city's fully integrated financial, commercial and logistical hub...
Singapore developer Ho Bee said on Friday its unit has formed a joint venture company with China-based developer Yanlord Land. The newly formed subsidiary called HB Investments (China) is 80 per cent owned by Ho Bee and 20 per cent owned by Engro Corporation, a mainboard-listed producer of slag-cement. In turn, HB Investments and Yanlord Land will hold 50 per cent stake each in the JV investment holding...