ChinaNewTown

ChinaNewTown: Co has entered into a fixed assets loan agreement with China Minsheng Banking Corp for Rmb600m at 7.98% (floating rate of 20% on top of BOC 5 yr rate) and co has drawn down Rmb300m from the facility. Co is currently trading at P/B of 0.6x and P/E of 4.8x with net gearing of 0.24x. Most recently, co turned a 1Q profit of $74.6m.