Ying Li's RMB3.3b deal: Time for a dividend?
With a pro forma gain of S$70 million from sale of Chongqing project, company could consider a payout to long-suffering minorities
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THE deal price might disappoint expectations, but it is just as well that Ying Li International Real Estate managed to sell one of its Chongqing commercial developments at a slight profit.
With vacancy rates well above 40 per cent in Chongqing's prime Grade A and Grade B office space, and significant upcoming supply, the market won't be improving anytime soon.
The market is unimpressed, however. Right after a unit of China Evergrande agreed to buy Ying Li's International Commercial Centre (ICC) project for a cool 3.29 billion yuan (S$672 million) in cash, Ying Li shares immediately shot up - then slowly grinded down.
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