So many rich MLCC goes to ainan for oliday, it will be the awaii of the east, the critical mass is there now, so I think ainan is a strategic location, keep long long is what I plan.CN is not gonna bubbled up as there is a big brother beind the red curtain to manipulate in case of over heading/inflating, so I see property is CN is "sure sure cant die" pardon my Singlish.
Yanlord is being played at the moment, fundamental is strong, ignore the noise and do value investment, my tea leaves at the bottom of the cup tells me it will suddenly shoot up and hold there for a long time (BB shift up the gear). Wait for this pattern to happen again. Land bought, so when property built and sold then RMB comes in. I am expecting the profit to jump in the next round of result.
HAINAN is a poor island invested with GANSTERISM....
Property Prices are lowest in CHINA....
GOOD to stay there with CHEAP PROPERTY and CHEAP PRICES especially for RETIREMENT....
chriscyng ( Date: 14-Jan-2010 23:34) Posted:
• Moving into Hainan and Hospitality: Yanlord announced today thatit, together with Jing Hope Holdings, had jointly acquired two adjacentland parcels with a total planned GFA of 155,268sqm in Hai TangBay, Sanya, Hainan province for Rmb2.11billion, or Rmb13,600 psm,through a public land auction. The combined sites will be developedinto a 5-star hotel and serviced residences. Note that Yanlord currentlyowns a serviced apartment in Nanjin operated by Frasers Suites. Postall recently announced acquisitions, gearing for the group will be about40%, on our estimates.
• Limited RNAV accretion, in our view: We believe that the land costof Rmb13,600 psm is relatively rich for Hainan. Applying the averagevaluation used for Franshion Properties’ (817 HK; OW; HK2.66;covered by Lucia Kwong) two hotels, Ritz Carlton and Hilton, inSanya of Rmb28,000 psm, the accretion to our current RNAV estimateof S$2.80/share is likely to be minimal. In addition, we see potentialintense competition for high-end hospitality sector in Sanya as morehotels open in the next few years.
•
Two projects to be launched this week: According to a local website(www.soufun.com), Yanlord will launch Tianjin Haihe Plaza Phase 1on 14 Jan and Yanlord Riverside City Phase 3 on 16 Jan. Asking priceaccording to the website is Rmb20,000 psm and Rmb53,000 psmrespectively, which represents a 15-20% increase from the last batchthat was sold in 2H09. Given the rather fragile sentiment at themoment, the success of the launches and the actual pricing will becrucial for Yanlord’s share price performance, in our view.
• Moving into Hainan and Hospitality: Yanlord announced today thatit, together with Jing Hope Holdings, had jointly acquired two adjacentland parcels with a total planned GFA of 155,268sqm in Hai TangBay, Sanya, Hainan province for Rmb2.11billion, or Rmb13,600 psm,through a public land auction. The combined sites will be developedinto a 5-star hotel and serviced residences. Note that Yanlord currentlyowns a serviced apartment in Nanjin operated by Frasers Suites. Postall recently announced acquisitions, gearing for the group will be about40%, on our estimates.
• Limited RNAV accretion, in our view: We believe that the land costof Rmb13,600 psm is relatively rich for Hainan. Applying the averagevaluation used for Franshion Properties’ (817 HK; OW; HK2.66;covered by Lucia Kwong) two hotels, Ritz Carlton and Hilton, inSanya of Rmb28,000 psm, the accretion to our current RNAV estimateof S$2.80/share is likely to be minimal. In addition, we see potentialintense competition for high-end hospitality sector in Sanya as morehotels open in the next few years.
•
Two projects to be launched this week: According to a local website(www.soufun.com), Yanlord will launch Tianjin Haihe Plaza Phase 1on 14 Jan and Yanlord Riverside City Phase 3 on 16 Jan. Asking priceaccording to the website is Rmb20,000 psm and Rmb53,000 psmrespectively, which represents a 15-20% increase from the last batchthat was sold in 2H09. Given the rather fragile sentiment at themoment, the success of the launches and the actual pricing will becrucial for Yanlord’s share price performance, in our view.
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