Yanlord Land Group

KGI Securities has initiated coverage on China-based property developer Yanlord Land Group Limited with an “outperform” recommendation and a target price of $1.30.

SINGAPORE (May 14): China-based real estate developer Yanlord Group posted a 27.5% increase in its total contracted pre-sales to RMB11.64 billion (S$2.33 billion) on contracted gross floor area (GFA) of 336,520 sqm for the four months ended April 30.

SINGAPORE (Dec 30): Yanlord Investment (Singapore) announced Monday it is extending the closing date of its mandatory conditional cash offer for United Engineers’ (UEL) shares to 5.30pm on Jan 20, 2020.

SINGAPORE (Dec 27): Yanlord Investment (Singapore), a wholly-owned subsidiary of China-based property developer Yanlord Land Group, announced Friday that it now owns, controls or has agreed to acquire 90.27% of United Engineers (UEL) as at 5pm on Dec 26.

The local property market — which was subjected to cooling measures and experienced oversupply in the past decade — may be small, but in the 2020s, a home-grown developer will rank among global real estate companies such as Brookfield Asset Management

SINGAPORE (Dec 17): Yanlord Land Group said it will delist United Engineers Ltd (UEL) should its free float fall below the listing threshold.

SINGAPORE (Nov 25): Oxley Holdings has thrown in the towel in its bid for a stronger say in United Engineers, ceding ground to Yanlord Land Group, which has gained tighter control as a result.

SINGAPORE (Nov 4): On Oct 25, Yanlord Land Group announced that it had acquired the 51% in Yanlord-Perennial Investment (Singapore) that it did not own and renamed the company Yanlord Investment (Singapore). Of this 51%, 45% belonged to Perennial Real ­E

SINGAPORE (Oct 29): OCBC Investment Research believes Yanlord Land Group’s mandatory general offer for all the shares in United Engineers (UE) that it does not hold is “unlikely to gain many acceptances”.