China’s richest woman, Yang Huiyan, made US$2 billion

Source: 
http://www.scmp.com/magazines/style/people-events/article/2127612/chinas-richest-woman-yang-huiyan-made-us2-billion

China’s richest woman, Yang Huiyan, made US$2 billion in four days

A share surge at Country Garden Holdings sees Yang Huiyan’s wealth rise to US$25.6 billion, making her China’s richest woman

By Bloomberg

10 Jan 2018 / UPDATED ON 12 Jan 2018

A share surge at Country Garden Holdings, China’s largest developer by sales, has sent vice-chairman Yang Huiyan’s wealth up by US$2.1 billion – and that’s just in the first four trading days of the year.

Yang, controlling shareholder of Country Garden, saw her fortune soar to US$25.6 billion as of January 5 to rank as the fifth-richest person in the nation, according to the Bloomberg Billionaires Index. That’s before Country Garden’s shares rose another 7.4 per cent on Monday in Hong Kong trading, taking its year-to-date-gain to 17 per cent.

Related articles

United States

Ivanka Trump slammed after praising Oprah’s speech about sexual abuse despite father’s history

Sexual harassment

James Franco faces more sexual impropriety claims as ‘nude orgy’ actress comes forward

Fame and celebrity

Hollywood pay gap: Mark Wahlberg and Michelle Williams co-starred in Ridley Scott film but he got paid 1,500 times as much to reshoot scenes

Sexual harassment

‘I have always supported women’: actor Michael Douglas denies accusations of lewd behaviour – before they’ve even been made public

United States

Ivanka Trump slammed after praising Oprah’s speech about sexual abuse despite father’s history

Sexual harassment

James Franco faces more sexual impropriety claims as ‘nude orgy’ actress comes forward

The 36-year-old Yang is China’s richest woman and the nation’s youngest billionaire, according to the Bloomberg Index. In 2005, her father transferred his controlling stake to her “due to his intention to train Yang Huiyan as the successor of his family’s interest” in the group, Country Garden said.

Her father Yang Guoqiang, usually known by his Cantonese name Yeung Kwok-keung, co-founded Country Garden in 1992.

Country Garden has been one of the beneficiaries of a boom in China’s property market, which has led to buoyant earnings and soaring sales, especially for the nation’s largest developers. The company reported preliminary 2017 contracted sales of 550.8 billion yuan (HK$660.7 billion) on Friday, exceeding the 500 billion yuan target it provided in August.

.

EPF to INVEST RM8.8 Billion in London ?!

SOURCE:
https://a.msn.com/r/2/AAuSkYG?m=en-my

Reuters - Free Malaysia Today - Friday, 19 January, 2018


EPF to INVEST RM8.8 Billion in London ?!   

LONDON: The owners of Battersea Power Station, a huge industrial building in London currently being turned into homes, offices and shops by a Malaysian consortium, are in talks to sell it for £1.6 billion (RM8.8 billion), the redevelopers said on Thursday.

With its four giant chimneys, the disused electricity generating plant on the south bank of the River Thames was pictured on the cover of Pink Floyd’s album “Animals” and is one of the best-known silhouettes on the London skyline.

Built in the 1930s, the coal-fired power station stopped operating in 1983 and gradually fell into disrepair, with multiple attempts to redevelop it floundering due to costs and practical difficulties in converting the gigantic site.

It was eventually sold to a Malaysian consortium led by property developer SP Setia in 2012, for 400 million pounds, and since then has been undergoing construction work on a vast scale. The project is due to be completed in late 2020.

SP Setia said in an announcement to the Malaysian Stock Exchange that it was in discussions about a potential sale with Permodalan Nasional Berhad (PNB), a Malaysian government-linked investment firm, and the Employees Provident Fund Board (EPF), a state pension fund.


The proposal is to sell Phase 2 of the project, the building itself, but not the surrounding land which is also in the process of being redeveloped. Through their holdings in the current developers and through direct stakes, PNB and EPF already own about 70% of the project as a whole.

Battersea Power Station Development Company Ltd, the UK-based structure managing the project, described the proposed transaction as a re-organisation of the ownership of the building that would create a long-term asset management and ownership structure.

“Subject to further due diligence and negotiations, the transaction sum is estimated to be 1.6 billion pounds, which is contemplated to be paid in stages through the rest of the construction phase of the Power Station building,” it said in a statement.

Apple announced in September 2016 that it would be moving its London headquarters to the former central boiler house of the power station – a commercial and public relations success for the redevelopers.

London’s Evening Standard newspaper reported that the proposed sale came after the costs of transforming the brick structure doubled from an initial forecast of about 750 million pounds to around 1.5 billion.

It said the spiralling costs had meant the profit return on the scheme had been cut from 20% to 8.2%.
A spokesman for the Battersea Power Station Development Company denied that the transaction was in response to an increase in costs.

“Whilst there have been cost increases across the industry and at Battersea Power Station, this transaction is not in reaction to costs,” he said. “It is simply being concluded to create a long-term stable asset management and ownership platform going forward.”




.