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short ah!!! while it is hot...
Ｉｎ ｆａｃｔ， ｔｈｅ ｃａｐｐｉｎｇ ｏｆ Ｃｈｉｎａ ｉｎｖｅｓｔｏｒｓ ｆｕｎｄｓ ｂｙ ｇｏｖｅｒｎｍｅｎｔ／ｒｕｍｏｕｒ ｉｎｔｏ Ｓｉｎｇａｐｏｒｅ ｓｈａｒｅ ｍａｒｋｅｔ ｉｓ ｇｏｏｄ， ｓｏ ｔｈａｔ ｉｔ ｄｏｎ＇ｔ ｂｅｃｏｍｅ ｏｖｅｒｖａｌｕｅｄ ｉｎ ｓｕｃｈ ａ ｓｈｏｒｔ ｔｅｒｍ． Ｈｏｒｒａｙ！！！．．．．
ｉｆ ｙａｎｌｏｒｄ ｍａｋｉｎｇ ｎｅｔ ｍａｒｇｉｎ ｃｏｎｓｉｓｔｅｎｔｌｙ ｈｉｇｈ ｐｅｒｉｏｄｉｃａｌｌｙ， ｗｈｏ ｃａｒｅｓ ａｂｏｕ ｔｈｅ ｒｅｐｏｒｔ？？ ｉｔ ｗｉｌｌ ｊｕｓｔ ｃｈｅｏｎｇ ｗｈｅｎ ｔｉｍｅ ｃｏｍｅｓ．．
nothing can save the day, not even heavyweight banks' report. Anyway... citigroup lost a lot of creditibility already with their own internal mess. Perhaps under Rubin's stewardship, it can rebuild itself?
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| SINGAPORE (Thomson Financial) - Citigroup said Monday it has lifted its target
price on Yanlord Land Group Ltd, a Singapore-listed property developer in China, to 4.91 Singapore dollars a share from 3.97 dollars previously as it expects the company to post robust earnings for the full year despite weaker third-quarter results. Yanlord reported last week that net profit fell 11 percent to 34.6 million dollars in the third quarter from a year earlier as it has yet to book profits from residential projects already sold. The company generated 1.1 billion dollars in sales from pre-sold properties under development but the income will only be recognized from the fourth quarter onwards as project construction progresses. "In our view, the third-quarter results were not a meaningful benchmark for 2007 (results) as there was a significant mismatch between expenses booking and revenue recognition," Citigroup said. Citigroup expects Yanlord to report 2007 net profit of 263 million dollars compared to 171 million dollars in 2006. The net profit is expected to rise further to 365 million dollars next year and to 487 million dollars in 2009. At 11.20 am, Yanlord was down 14 cents or 4.1 percent at 3.30 dollars with 5.83 million shares traded. |
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DBS Vickers:
Presales crosses S$1bn mark
The group looks set to achieve our forecasts for the full year. As at 30
Sep 07, committed presales reached a high of S$1.097m, compared with S$860m
in 1H07. Of this, S$912m has been received and bulk of the proceeds will
be recognized in 4Q07.
Sales was down 28% to S$184.6m due to a lower number of properties
delivered in 3Q07. Gross profit fell by a corresponding 35% to S$65.7m.
Selling and admin expenses were higher due to increased headcount, bonuses
and marketing expenses needed to maintain its sales momentum. Interest exp
jumped from S$0.1m to S$14.8m. A fair value gain from its investment
properties of S$23.8m in 3Q06 caused a higher 56% drop in pretax profit.
However, net profit was down by a lesser 11% to S$34.6m due to 87% drop in
MI.
Presales crosses S$1bn mark
The group looks set to achieve our forecasts for the full year. As at 30
Sep 07, committed presales reached a high of S$1.097m, compared with S$860m
in 1H07. Of this, S$912m has been received and bulk of the proceeds will
be recognized in 4Q07.
Sales was down 28% to S$184.6m due to a lower number of properties
delivered in 3Q07. Gross profit fell by a corresponding 35% to S$65.7m.
Selling and admin expenses were higher due to increased headcount, bonuses
and marketing expenses needed to maintain its sales momentum. Interest exp
jumped from S$0.1m to S$14.8m. A fair value gain from its investment
properties of S$23.8m in 3Q06 caused a higher 56% drop in pretax profit.
However, net profit was down by a lesser 11% to S$34.6m due to 87% drop in
MI.
Yanlord Land rose after the Chinese property developer said it has bought a new land site in China.
Yanlord said in a statement that it bought a site in Jiangsu province in China for 640 million yuan to develop luxury apartments.
Goldman Sachs said in a client note that it estimates the company to generate a 44% gross margin from the acquisition.
"We think it demonstrates management's strong intention to further deepen its current foothold in Nanjing as well as its strong desire to expand its scale," said Goldman Sachs analyst Yi Wang.
Goldman Sachs retained its "buy" rating on the stock with a 12-month tp of $4.41.
seriously, i miss this boat this morning... sianz...
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16:56:30
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3.640
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15,000,000
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Buy Up
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5.46 million dollars in one transaction, could be the director buying up, shit... tomorrow sure rocket high again.. up to 4.00 agian??!
JPMorgan has raised its price target for Yanlord Land to $3.30 from $3.25 with an "overweight" recommendation, citing good execution and the prime location of its investment property portfolio under construction. But the company is also facing slow growth in its development pipeline, JPMorgan analysts Lucia Kwong and Joy Wang said in a research note.
"Timing of land acquisition is uncertain and share price may underperform the sector if there is no big acquisition news in the near-term," they said.
more BB plays.. playing BBs.. 2.87!..
another BB play?..
from 2.69 to 2.78...
buy on weakness... good entry point is 2.6-2.65...
china high end property looking gd!
risks : china bubble burst....
what a rush...close 2.77..some BB play gg on definitely!...
monday chiong again :)
DOWN market ..still can hold strong...
looks like the BBs are holding out this stock well!..
anyone vested?
yeah very likely..
somehow the name reminds me of YANLOR WANG..(KING OF HADES)...keke..
coming to $3.00 soon
Chiong ah!!!!!..now 2.72..
too late to grab liao..
The stock price is rising. Grab before it is too late.
Be careful, sometime bugs bunny's report is a bit ........! Just watch out .
LORD OF THE RINGS BABY!!...$3.33.......
YANLORD, smith barney put new rating BUY with target price $3.33
- Initiate with Buy/Low Risk Our S$3.33 target price is based on our forward-08 NAV. Our target price and 07E dividend yield of 2% implies total return of 33% in the coming 12 months. Yanlord is a high-growth developer with strong NAV upside, backed by its solid balance sheets and high-quality investment property portfolio. Listed in Singapore, the stock is under-researched, now at an attractive 22% discount.
- Strong brand value Yanlord is well known for its high product quality, and the company has consistently been able to price its properties at premiums of over 20% versus its competitors. Its strong brand identity also translates into low advertising expenses, which made up less than 1.5% of sales for the past four years ? about 300-400bps lower than that of its competitors.
- Strong growth potential Yanlord's current net cash position and its expected cash from property sales should provide ample ammunition for future landbank acquisitions. With its current landbank standing at a lower base of 3.2msm (2.4msm attributable), Yanlord's strong financial position should present it with faster growth than its peers.
- Investment properties Yanlord now has 700,000sqm of Grade-A investment properties under development. Once completed, they would form a solid base of recurrent rental income and cash flow, enhancing its earnings visibility and stability. And besides an expected growth in rental income, Yanlord should also benefit from continued cap rate compression in China.