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Subject: (BN) China's March Property Prices Jump a Record 11.7% (Update2)
TIMES TO WATCH OUT FOR
YING LI
China's March Property Prices Jump a Record 11.7% (Update2)
2010-04-14 02:35:50.611 GMT
(Adds analyst's comments in the fourth paragraph, cities with
biggest price gains in sixth.)
By Chia-Peck Wong
April 14 (Bloomberg) -- China's property prices rose at a record
pace in March, indicating government efforts to stem gains aren't
working and more drastic measures may be needed amid concern of a bubble
in the nation's housing market.
Residential and commercial real-estate prices in 70 cities climbed
11.7 percent from a year earlier, the National Bureau of Statistics said
on its Web site. The data goes back to 2005.
China has raised mortgage rates and re-imposed a sales tax on homes
in the first two months of the year to reduce the risk of asset bubbles.
The government announced in March developers will have to pay a higher
deposit for land purchases and banned banks from lending to builders
found to be hoarding land or holding back home sales in anticipation of
higher prices.
"The property tax may come, and that would push some potential
buyers on the sideline," Lee Wee Liat, a Hong Kong- based analyst at
Nomura Holdings Inc., said before today's announcement. "If that's not
effective, they will impose some more measures."
China has passed a plan to impose a property tax on home purchases
and may start a trial in Beijing, Shanghai, Chongqing and Shenzhen,
Sina.com reported April 8, without saying where it got the information.
On the same day, the Shanghai Municipal Housing Support and Building
Administration Bureau said any study of a property tax in the city is
"entirely normal."
Haikou Leads Gains
Haikou, a city on the southern island of Hainan, had the biggest
price gain, with a 53.9 percent jump, the statistics bureau data showed.
Sanya, also in Hainan, followed with a 52.1 percent increase.
The property market in the world's third-biggest economy is in a
bubble that may burst by as early as this year, hedge fund manager James
Chanos said in an interview last week.
China is "on a treadmill to hell," according to Chanos, who said in
January the nation is Dubai times a thousand. "They can't afford to get
off this heroin of property development. It is the only thing keeping
the economic growth numbers growing."
Home prices in China may continue to rise between now and September
due to a shortage of supply, Nomura's Lee said.
"Last year, some developers were skeptical about the price
increases and cut back on construction starts until the fourth quarter,
so there's no supply in the market," he said.
"Whatever the developers are putting out, people are grabbing."
While home prices may cool in the fourth quarter, values may still
rise 15 percent for the full year, he said.
Sales Jump
Chinese developers have announced increases in first- quarter
sales. Evergrande Real Estate Group Ltd. said April 2 sales jumped 175
percent in the first three months of this year to 8.53 billion yuan
($1.25 billion). China Overseas Land & Investment Ltd., a Hong
Kong-traded builder controlled by the Chinese construction ministry,
said on April 8 sales rose 48.3 percent to HK$13.7 billion.
To damp speculation, the government in January re-imposed a tax on
homes sold within five years of their purchase, after having cut the
taxable period to two years in January 2009 to bolster a then flagging
market.
The People's Bank of China is targeting a drop of 22 percent in new
lending this year from 2009's record 9.59 trillion yuan and told banks
twice this year to set aside more cash as reserves. The first quarter
result is due on April 15.
For Related News and Information:
China real estate market statistics: CNRE <GO> Top real estate stories:
TOPR <GO> Most-read stories on China: MNI CHINA 1W <GO> Most-read China
economy stories:
TNI CHECO MOSTREAD BN <GO>
--With assistance from Li Yanping in Beijing. Editors: Andreea Papuc,
Malcolm Scott.
To contact the reporter on this story:
Chia-Peck Wong in Hong Kong at +852-2977-6532 or cpwong@bloomberg.net
To contact the editor responsible for this story:
Andreea Papuc at +852-2977-6641 or
apapuc1@bloomberg.net
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question what has that statement got to do with mei mei??
Singapore 2010 GDP revised from 3~4.5% to 7~9.0%
SINGAPORE 2010 GDP DOUBLE
Singapore is an ISLAND
Singapore business is EXPORT
Singapore business is SHIPPING BASED
SHIPPING will DOUBLE
Taken profit and run road...made enuff, curve still strong but not greedy
Tuesday: 13 APRIL 2010 CLOSING
17,526,000 S$0.555 -S$0.010
S$0.555 1,966,000 (30,000 BfS)
S$0.560 11,145,000 (6,153,000 BfS)
S$0.563 60,000 MiD
S$0.565 4,142,000 (3,066,000 BfS)
S$0.570 213,000 (213,000 BfS)
STRONG
underCurrent
S$0.565
Go West with this Niche Developer
Ying Li International Real Estate develops high-end commercial and retail properties in Chongqing’s urban areas
, and is the largest Western China property player listed on the SGX. Specialising in developing high-end commercial and retail properties in Chongqing’s busiest business districts, Ying Li has an established track record of having built some of the city’s most recognized skyscrapers.
Prominent projects in the pipeline, including Western China’s tallest building – the International Finance Centre.
Ying Li has a current land bank of nearly 1m sqm under development in Chongqing, most of it in the key CBD area of Yuzhong district including the 173,438 sqm International Finance Centre, which when completed in 2011, should be Western China’s tallest building. At the same time, Ying Li is developing other high-end properties for residential, retail and office uses up to 2013. Earnings for Ying Li should be driven by both higher rental incomes from its new developments as well as higher development sales.
Well positioned to benefit from Chongqing’s growth and the city’s massive urban renewal plan.
With Chongqing being groomed by the central government to be Western China’s leading light and financial centre, we expect its economy to continue to be growing at doubledigit space, driving demand for high-end property developments. Coupled with Chongqing’s plan to redevelop over 12m sqm of land area in its key districts, Ying Li is well positioned to acquire more land bank for future growth.
Initiate with a BUY, target price S$1.17,
which is based on 10% discount to our RNAV calculation of S$1.30 for Ying Li. There is also room for further upside if Ying Li can acquire more land bank and develop more value accretive projects. Key risks include project execution and the company being able to achieve its ASP and rental rate targets.pharoah88 ( Date: 13-Apr-2010 19:22) Posted:
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Singapore Company Focus
Ying Li International Real Estate
Bloomberg
DBS Group Research . Equity 29 September 2008
BUY S$0.875 STI : 2,906.07
(Initiating Coverage)
Price Target : 12-Month S$1.17
Reason for Report : Initiation of Coverage
Potential Catalyst: Completion and sales of property developments and
futher land bank acquisitions.
Analyst
Paul Yong CFA +86 21 6888 3372
paulyong@dbsvickers.com : YINGLI SP | Reuters: YING.SI |
|
Singapore Company Focus
Ying Li International Real Estate
Bloomberg
DBS Group Research . Equity 29 September 2008
BUY S$0.875
STI : 2,906.07
(Initiating Coverage)
Price Target : 12-Month S$1.17
Reason for Report : Initiation of Coverage
Potential Catalyst: Completion and sales of property developments and
futher land bank acquisitions.
Analyst
Paul Yong CFA +86 21 6888 3372
paulyong@dbsvickers.com
: YINGLI SP | Reuters: YING.SI
Current Projects under Development
Target GFA
Development Completed District (sqm)
San Ya Wan Phase 2 2009 Yubei 144,377
International Finance Centre 2010 Yuzhong 173,438
Jingong Restaurant Project 2011 Jiangbei 126,000
Luzu Temple Project 2012 Yuzhong 137,987
Yuzhong Residential/Retail Project 2013 Yuzhong 385,000
Source: Company, DBS Vickers
Completed Projects by Ying Li
Year GFA
Development Completed District (sqm)
Min Sheng Mansion 1997 Yuzhong 63,431
Zou Rong Plaza 2000 Yuzhong 102,489
Southland Garden 2005 Yuzhong 56,878
New York New York 2005 Yuzhong 41,337
Future International Building 2006 Jiangbei 133,540
B ashu Cambridge 2007 Yuzhong 42,782
Source: Company, DBS Vickers
http://www.channelnewsasia.com/stories/singaporebusinessnews/view/1018970/1/.html
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SINGAPORE: Mainboard-listed real estate firm Ying Li said on Wednesday it has successfully placed out 253.2 million new shares to raise about S$154 million.
Each new share was priced at 61 cents, which is a discount of about 15 per cent to the volume weighted average price of 72.17 cents.
Ying Li said the placement to institutional investors drew strong interest with participation from quality international funds. It added that the placement is expected to increase its trading liquidity.
Funds raised will be used mainly for the development of its Da Ping project and the balance will be used for general working capital purposes.
The Da Ping project is an integrated development site of over 303,000 square feet and is located in Chongqing's prime Yuzhong District.
It has a planned total gross floor area of some 4 million square feet, comprising high-end residential units, top-end retailers and potentially a high-end hotel or serviced residence operator.
The project is expected to be fully completed by 2013.
- 938LIVE/so
http://www.theedgesingapore.com/the-daily-edge/business/7943-city-dev-sia-ying-li-advances-as-at-trading-break.html
Ying Li International Real Estate (YINGLI SP), a property developer in China, advanced 4.6% to 68.5 cents.
The company said Oversea-Chinese Banking Corp. (OCBC SP), the smallest of the three Singapore banks, exercised its option to subscribe to 10 million new Ying Li shares.
Last Updated on Wednesday, 16 September 2009 13:37
| Written by Bloomberg |
| Wednesday, 16 September 2009 13:19 |
| Written by Bloomberg |
| Wednesday, 16 September 2009 13:19 |
| Written by Bloomberg |
| Wednesday, 16 September 2009 13:19 |
|
The Straits Times index advanced 1.3% to 2,672.29 at the 12:30 p.m. trading break in Singapore. All but four stocks on the 30-member gauge rose. The following shares were among the most active in the market.
Developers: Shares of property developers rebounded, following two days of losses triggered by the government’s plan to prevent excessive price swings in the housing market. UOB-Kay Hian Holdings said it is keeping its “overweight” rating on the property sector, because low interest rates will support housing demand.
CapitaLand (CAPL SP), Southeast Asia’s biggest developer, added 1.1% to $3.75. City Developments (CIT SP), the nation’s second-biggest developer, rose 3.2% to $10.36. Keppel Land (KPLD SP), partly owned by the world’s biggest builder of oil rigs, gained 2.7% to $2.67. Allgreen Properties (AG SP), a Singapore-based developer controlled by Malaysian billionaire Robert Kuok, added 1.8% to $1.16.
Hi-P International (HIP SP), an electronics manufacturer whose clients include Blackberry maker Research in Motion, gained 2.1% to 71.5 cents. DMG & Partners Securities Pte initiated coverage on the stock with a “buy” rating and share-price estimate of 87 cents.
Singapore Airlines (SIA SP), the world’s second-biggest carrier by market value, climbed 2.3% to $13.38. Citigroup Inc. said it raised the stock to “hold” from “sell,” saying the carrier’s “capacity cuts, cost controls and lower hedging losses may bring relief towards year-end.” SIA’s overall load factor in August was unchanged at 68.2% compared with the previous year after the airline cut its capacity, the company said yesterday.
Ying Li International Real Estate (YINGLI SP), a property developer in China, advanced 4.6% to 68.5 cents. The company said Oversea-Chinese Banking Corp. (OCBC SP), the smallest of the three Singapore banks, exercised its option to subscribe to 10 million new Ying Li shares.
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| Written by Bloomberg |
| Wednesday, 16 September 2009 13:19 |
|
The Straits Times index advanced 1.3% to 2,672.29 at the 12:30 p.m. trading break in Singapore. All but four stocks on the 30-member gauge rose. The following shares were among the most active in the market.
Developers: Shares of property developers rebounded, following two days of losses triggered by the government’s plan to prevent excessive price swings in the housing market. UOB-Kay Hian Holdings said it is keeping its “overweight” rating on the property sector, because low interest rates will support housing demand.
CapitaLand (CAPL SP), Southeast Asia’s biggest developer, added 1.1% to $3.75. City Developments (CIT SP), the nation’s second-biggest developer, rose 3.2% to $10.36. Keppel Land (KPLD SP), partly owned by the world’s biggest builder of oil rigs, gained 2.7% to $2.67. Allgreen Properties (AG SP), a Singapore-based developer controlled by Malaysian billionaire Robert Kuok, added 1.8% to $1.16.
Hi-P International (HIP SP), an electronics manufacturer whose clients include Blackberry maker Research in Motion, gained 2.1% to 71.5 cents. DMG & Partners Securities Pte initiated coverage on the stock with a “buy” rating and share-price estimate of 87 cents.
Singapore Airlines (SIA SP), the world’s second-biggest carrier by market value, climbed 2.3% to $13.38. Citigroup Inc. said it raised the stock to “hold” from “sell,” saying the carrier’s “capacity cuts, cost controls and lower hedging losses may bring relief towards year-end.” SIA’s overall load factor in August was unchanged at 68.2% compared with the previous year after the airline cut its capacity, the company said yesterday.
Ying Li International Real Estate (YINGLI SP), a property developer in China, advanced 4.6% to 68.5 cents. The company said Oversea-Chinese Banking Corp. (OCBC SP), the smallest of the three Singapore banks, exercised its option to subscribe to 10 million new Ying Li shares.
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Profit Taking Dips are
PERFECT TiMES
tO PiCK UP mOre gOOd shares
this advertisement
appeared at Share Junction site
erm u darn bored is it hahahaha
pharoah88 ( Date: 13-Apr-2010 12:24) Posted:
HEROINE ABSTRACT SENSUAL DANCE
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HEROINE ABSTRACT SENSUAL DANCE
CHONG QING is YING LI
YING LI is CHONG QING
yummygd ( Date: 12-Apr-2010 10:02) Posted:
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this is a gOOd CHiP
Hulumas ( Date: 12-Apr-2010 23:18) Posted:
I keep holding this S-chip.
risktaker ( Date: 12-Apr-2010 21:24) Posted:
| I think some Funds are buying up :) |
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| Time |
Last |
Vol |
| 10:53:41 |
0.565 |
199000 |
| 10:43:24 |
0.565 |
1001000 |
wahhh scarry much??
doubt mei mei will move at all today.. might even drop a little.. den tom will move more den next day drop a little... mei mei always like that.
I keep holding this S-chip.
risktaker ( Date: 12-Apr-2010 21:24) Posted:
| I think some Funds are buying up :) |
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