Ying Li - Ying Li cut to Hold by Kim Eng; $0.43 target

Stock Name: Ying Li
Company Name: YING LI INTL REAL ESTATE LTD
Research House: Kim Eng

Kim Eng Securities downgrades Ying Li International (5DM.SG) to Hold from Buy, cuts target price to $0.43 from $0.62, pegged at 40% discount to RNAV estimate, says Dow Jones.



Changes based on lower rental, average selling price assumptions for China-based property developer. Says delay in launch of residential component of Ying Li’s Da Ping project to end-2011 from end-2010, due to design changes, was disappointing.



Adds take-up for retail space of company’s commercial project IFC seems slow. Shares now flat at $0.400.