Yanlord Land forms new Nanjing property development company

With RMB 1.8 billion in registered capital.

Yanlord Land Group Limited announced that its wholly-owned subsidiaries, Yanlord Land Pte. Ltd. and Nanjing Renyuan Investment Co., Ltd. (Nanjing Renyuan), have set up a new company in Nanjing, the People’s Republic of China.

Nanjing Yanlord Jiangzhou Property Development Co., Ltd. will have registered capital of RMB1,800,000,000, and will primarily engage in property development & management and other related activities.

Yanlord Land Pte. Ltd. will hold 58.33% shareholding interest in the new company with Nanjing Renyuan holding the remaining 41.67%.

Yanlord Land Group said the above transaction is not expected to have any material impact on the net tangible asset or earnings per share of the Company for the financial year ending 31 December 2013.