Yanlord establishes two new companies in China

It invested a combined $61.5m capital.

Yanlord Land Group announced that Nanjing Renyuan Investment Co., a wholly-owned subsidiary, has set up two new companies engaged in property development in Suzhou, China.

The first one is Suzhou Renyuan Real Estate Co., with a registered capital of RMB100m or S$20.5m. The other is Suzhou Peninsula Yanlord Real Estate with a registered capital of RMB200m or S$41m.

The management guided that the above transactions are 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 2016.

None of the directors nor controlling shareholders of the Company has any interest, direct or indirect, in the above transactions, save for their respective interests, through their shareholdings and/or directorships, as the case may be, in the Company.