Yanlord Land Group

Closing Price on 26-Sep2011 = $0.72

Aberdeen Group now holding 99.547m shares(5.1082%)
and I believe a sizable chunk of these 99.5m shrs were purchased within last few months alone.


1. Date of change of Interest 22-09-2011
2. Name of Substantial Shareholder * Aberdeen Asset Management

4. Information relating to shares held in the name of the Registered Holder
No. of Shares held before the change 97,047,000
As a percentage of issued share capital 4.9799 %

No. of Shares which are subject of this notice 2,500,000
As a percentage of issued share capital 0.1282 %

Amount of consideration (excluding brokerage and stamp duties) per share paid or received 0.8001

No. of Shares held after the change 99,547,000
As a percentage of issued share capital 5.1082 %

Vested, the only SChip that I have parked in a substantial sum... recently.

Interesting.. Aberdeen is onboard.

From reuters..

Offshore high-yield bonds of China property names were down by 4-10 cents on the dollar, with Country Garden bonds due 2018 indicated at 87.5/89.5, Evergrande <3333.HK> 2015 at 80/82 and Yanlord Land at 75/79.

Yields on these bonds are already bearing equity like returns as Country Garden 2018 yields around 14 percent while Yanlord yields 17 percent.

Does anyone here hold Yanlord bonds?

Yanlord got a few
- i belie at least one remaining CBs & two non-convertible notes
they are not for retail consumption - restricted to institutional & accredited investors.

the s$ bond - minimum board size is s$250,000
the non-converible notes - suppose to trade in mini board size of us$200,000

(27-09-2011, 01:09 PM)yeokiwi Wrote: Interesting.. Aberdeen is onboard.

From reuters..

Offshore high-yield bonds of China property names were down by 4-10 cents on the dollar, with Country Garden bonds due 2018 indicated at 87.5/89.5, Evergrande <3333.HK> 2015 at 80/82 and Yanlord Land at 75/79.

Yields on these bonds are already bearing equity like returns as Country Garden 2018 yields around 14 percent while Yanlord yields 17 percent.

Does anyone here hold Yanlord bonds?

Independent director Ng Ser Miang has been buying...

Yes I am also on board. It is at 08 distressed pricing.

but the situation in China is much worse than 2008, especially the prospects in the next few years. There is not going to be a 4-trillion stimulus package any more.

the inventory level in China is just terrible.

(28-09-2011, 10:11 AM)freedom Wrote: but the situation in China is much worse than 2008, especially the prospects in the next few years. There is not going to be a 4-trillion stimulus package any more.

the inventory level in China is just terrible.

ya... but if everything is fine and rosy, it will not be selling at this level. Obviously, the weaker property developers have to be eliminated from the eco-system.
Properties and lands, in the long term, are a good hedge against inflation. Especially, those properties that are in 1st tier cities.
A bet on full recovery in 1-2 years may not be high. But, if the period is extended to 5-10 years, it is actually quite a good bet. Unless, we believe that china is going to spiral down all the way.

Besides that, the china regulators may get cold feet if the properties drop too much. The citizens will not be too happy to see their money vaporize.

The driving factor is due to the tap drying from bank financing.

If the situation gets worse, the bank tap likely to release, because people will then want to buy properties as affordability will then increase.

And Yanlord is a good developer and picks the good locations.


but the situation in China is much worse than 2008, especially the prospects in the next few years. There is not going to be a 4-trillion stimulus package any more.

the inventory level in China is just terrible.

[/quote]

ya... but if everything is fine and rosy, it will not be selling at this level. Obviously, the weaker property developers have to be eliminated from the eco-system.

Properties and lands, in the long term, are a good hedge against inflation. Especially, those properties that are in 1st tier cities.
A bet on full recovery in 1-2 years may not be high. But, if the period is extended to 5-10 years, it is actually quite a good bet. Unless, we believe that china is going to spiral down all the way.

Besides that, the china regulators may get cold feet if the properties drop too much. The citizens will not be too happy to see their money vaporize.


[/quote]

(28-09-2011, 10:30 AM)yeokiwi Wrote:

(28-09-2011, 10:11 AM)freedom Wrote: but the situation in China is much worse than 2008, especially the prospects in the next few years. There is not going to be a 4-trillion stimulus package any more.

the inventory level in China is just terrible.

ya... but if everything is fine and rosy, it will not be selling at this level. Obviously, the weaker property developers have to be eliminated from the eco-system.
Properties and lands, in the long term, are a good hedge against inflation. Especially, those properties that are in 1st tier cities.
A bet on full recovery in 1-2 years may not be high. But, if the period is extended to 5-10 years, it is actually quite a good bet. Unless, we believe that china is going to spiral down all the way.

Besides that, the china regulators may get cold feet if the properties drop too much. The citizens will not be too happy to see their money vaporize.

what I am trying to say is that probably there will be more downside ahead and probably the bear for Yanlord will last very long. the 1990's property bust in China lasted more than a decade.

It's a surprising 50% rebound from the 4 oct lows...

Wee Ee Chao and Peter Lim are now SSH holding 5.01% and 6.03% stake respectively.

(Not Vested)