$1.06-YLLG.SI
• Share transactions reported yesterday by 3 well-known local personalities (Peter Lim, Kuok Khoon Hong and Wee Ee Chao) are worth noting, although somewhat confusing:
o Lim bought 15.364 mln shares on Nov 11th (price not disclosed), lifting his deemed interest to 117.4 mln shares or 6.03% (he had first crossed 5% on Nov 4th).
o Kuok crossed 5% on Nov 11th with the purchase of 1.274 mln shares at $1.01 each, lifting his deemed interest (held through various names including Terzetto Capital) to 97.58 mln shares. (Lim also has interest in Terzetto.)
o Wee crossed 5% on Nov 14th with the purchase of 1,815,000 shares at $1.03 each, lifting his deemed interest to 97.54 mln shares.
• Yanlord is a Chinese property developer, controlled by Zhong Sheng Jian, a Chinese national who has become a Singaporean.
• Like all Chinese property companies, Yanlord’s share price had suffered greatly in the past 2 years, falling from $2.84 in Aug’09 to recent low of 70.5 cents. It was listed in Jun’06 and peaked at $4.22 in Oct’07.
• We have not previously made a call on Yanlord, except when they issued Senior Notes with coupon exceeding 10% in April this year, which we had thought offered more “protection” than ordinary shares.
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