- Midea Real Estate (3990.HK)’s recent move to spin-off and privatise its development business at ~0.3x P/B indicates that the market is placing an overly steep discount on this segment. Yanlord Land Group (SGX:Z25), which currently trades at an even lower ~0.13x P/B with a controlling shareholder with solid financial position, decent concentration of shareholding and manageable near-term debt repayment profile, could be a viable candidate to consider similar options.
Peer Midea’s strategic reorganisation hints at an overly steep discount placed on the development business.
- - Read this at SGinvestors.io -
- - Read this at SGinvestors.io -
Key criteria for developers to meet when considering a similar strategic reorganisation
- Read more at SGinvestors.io.
Above is the excerpt from report by DBS Group Research.
Clients of DBS may access the full report in PDF @ https://www.dbs.com/insightsdirect/.
Jason LAM DBS Group Research | Dexter Chun DBS Research | Ben Wong DBS Research | https://www.dbs.com/insightsdirect/ 2024-07-24
Read also DBS's most recent report:
2024-10-14 Yanlord Land Group - Improved Sentiment Priced In; Downgrade To HOLD.
Previous report by DBS:
2024-08-15 Yanlord Land - Stays In Defensive Mode.
Price targets by other brokers at Yanlord Target Prices.
Listing of research reports at Yanlord Analyst Reports.
Relevant links:
Yanlord Share Price History,
Yanlord Announcements,
Yanlord Dividends & Corporate Actions,
Yanlord News Articles
