CreditSights logo
Forgot Password?

Agile Property

Agile Group Holdings Limited ("Agile") is one of the major property developers in China, engaging in the development of large-scale residential projects that target the mid-to-high-end segment. The company had spun off its property management arm, A-Living Services, which listed on the Hong Kong Stock Exchange ("HKSE") in February 2018. As of 31 December 2017, the total land bank stood at 34.1 mn sqm. Agile had 115 projects located in Southern China (36.5% of total land bank), Hainan (18.6%), Yunnan (14.2%), Eastern China (14.6%), Western China & other regions (15.1%). Agile also has joint ventures (1.1%) in Kuala Lumpur, Malaysia and San Francisco. Agile is listed on the HKSE with a market capitalization of HKD 49.1 bn ($6.3 bn) as at 3 July 2018. Chen Zhuo Lin, the Chairman and founder of Agile, and his family hold 62.6% of the shares via Top Coast Investment. Other financial institutions hold 10.9%, while the public holds 26.5% of the shares. Chairman Chen had a brush with the Kunming City People's Procuratorate in Sep 2014, for alleged corruption. He eventually resumed his duties as the Chairman in Dec 2014, though no reasons were provided for the saga. (13 Jul 2018)

Search Results

Excerpts only. To access full content please login or request a free trial.

Focused

China Property 2019: Worse Before Getting Better

Sector Outlook: 13 Dec 2018, 10:30 PM ET - We think that the Chinese property sector is likely to slow down at a controlled pace next year. We maintain our defensive stance, and recommend investors to hold the Chinese BBB, BB, and selective single B, short-dated developers.
Focused

China Trip Notes Oct-18: What Is Great About It

Site Visits: 04 Dec 2018, 10:39 PM ET - Home prices across China’s Greater Bay Area have surged in recent years. We keep our recommendations on Agile, Cogard, Evergrande, KWG and Shimao unchanged after our recent trip to Shenzhen, Guangzhou, Foshan and Zhongshan.

Indonesia Property: 2019 Outlook

Sector Outlook: 04 Dec 2018, 5:19 AM ET - We take a look at the key drivers that would shape the course of Indonesian property heading into 2019. We provide the credit outlook for Indonesian property for 2019 and the recommendations for the individual companies.
Focused

Zhongshan Trip Notes Oct-18: Frothy Market

Site Visits: 03 Dec 2018, 4:10 AM ET - We visited some property projects recently in Zhongshan, a Tier-3 city. With an oversupply of homes, the Zhongshan property market looks frothy as speculators from other nearby cities made up a substantial portion of the home buyers. 
Focused

Asia Corporate Recommendations: December 2018

Asia Corporate Recommendations: 03 Dec 2018, 4:09 AM ET - New initiations this month include Agile 2020, KWG 2020, and China State Construction International perp with Market perform. Downgrades include Everre 6.25% 2021, H&H 2021 and Vedanta 2023 from Market perform to Underperform.

Asia High Yield Snapshot: 2018 Interim Edition

Asia High Yield Snapshot: 27 Nov 2018, 3:30 AM ET - The Asia High Yield Snapshot summarises the key credit metrics, cash flow trends, profitability and other financial indicators of Asian high yield $ bond issuers. This edition is updated for 2018 interim figures. 

Foshan Trip Notes October 2018: Spillover Demand

Site Visits: 25 Nov 2018, 11:57 PM ET - Compared to the other Tier-1 cities we visited, the housing and credit policies in Foshan were far more relaxed.  It is no wonder that some non-natives in Guangzhou have chosen to buy homes in Foshan instead. 
Focused

Guangzhou Trip Notes Oct-18: Understated Home Price

Site Visits: 22 Nov 2018, 3:35 AM ET - We think that homes in Guangzhou are less affordable than what the data from the NBS reflects, owing to the signing of dual sales contracts to skirt the price cap measures. The home demand-supply dynamics are healthy nonetheless.

Shenzhen Trip Notes October 2018: Too Expensive!

Site Visits: 21 Nov 2018, 5:01 AM ET - Shenzhen homes are extremely expensive.  The LTM Cost/Income multiple as of September 2018 was 43.2x (National average: 9.9x), indicating that new homes in Shenzhen are significantly less affordable than most places in China.
Focused

Asia Credit Calendar: Week of 19 November 2018

Strategy Analysis: 16 Nov 2018, 2:26 AM ET - Earnings from CAR Inc. and Parkson are due on Tuesday, while MIE Holdings will hold an EGM to approve its Canada disposal.  Economic releases from Australia, Malaysia, Singapore, South Korea and the United States are also due this week. 
Focused

Agile: Proposed 2-Yr $-Bond At IPT 9.5% Area

Worth Watching: 15 Nov 2018, 12:19 AM ET - Agile Group ("Agile"; Bond Rating: BB/Ba3) is returning to $-bond market for the third time this year. The company is seeking a new 2-year bond at an initial price target ("IPT") of 9.5% area. During the investor call this morning, Agile said i ..

China Property Sector: PBOC’s Take On Sector

Sector Analysis: 09 Nov 2018, 3:12 AM ET - Is the China property sector risky in the eyes of the People's Bank of China ("PBOC")?

Asia Corporate Recommendations: November 2018

Asia Corporate Recommendations: 01 Nov 2018, 4:38 AM ET - We lowered our recommendation on Anton Oilfield 2020 to Market perform. However, we upgraded our recommendations on a number of Chinese property bond issues and  initiated on the new Evergrande 2020 with an Outperform recommendation.

Guangzhou Trip Notes Oct-18: Aoyuan Lianfeng State

Site Visits: 23 Oct 2018, 4:28 AM ET - We visited Guangzhou Aoyuan Lianfeng State (广州奥园莲峰圣境) last week. 
Focused

China Property Navigator 3Q18: Macros in Pictures

China Property Navigator: 12 Oct 2018, 4:04 AM ET - This report marks the end of our China Property Navigator 3Q18 series. Developers appear to be shifting their land bank expansion focus to out of China's top 40 cities.
Focused

China Property Navigator 3Q18: Bond Supply

China Property Navigator: 11 Oct 2018, 3:23 AM ET - This report is part 4 of our 5-part 3Q18 China Property Navigator. The domestic public corporate bond market seems to be re-opening quietly. Supply risk from the China property sector is also expected to moderate in 4Q18.
Focused

China Property Navigator 3Q18: Relative Ranking

China Property Navigator: 10 Oct 2018, 12:38 AM ET - This is the 3rd part of our 5-part 3Q18 China Property Navigator. We ranked the 13 Chinese developers under our full coverage and upgraded our recommendations on a number of bond issues.

China Property Navigator 3Q18: 1H18 Results Wrap

China Property Navigator: 09 Oct 2018, 3:54 AM ET - We summarize the LTM to 1H18 results of the Chinese developers under our coverage in this report and highlight broad trends in 1H18. This report is the 2nd part of a 5-part series.

China Property Navigator 3Q18: Housing Policies

China Property Navigator: 08 Oct 2018, 1:55 AM ET - Local governments continued fine-tuning existing housing policies for their respective cities in 3Q18. Tighter resale restrictions and HPRs were rolled out even at the county-level.

Asia Corporate Recommendations: October 2018

Asia Corporate Recommendations: 01 Oct 2018, 4:59 AM ET - We assigned an Outperform recommendation to the CGN $ bond complex and Market perform recommendations to Country Garden's new 2022 and 2024 bonds. We also raised our recommendation on Baidu 2019 to Outperform. 

Request A Free Trial

CreditSights offers free trials to individuals in qualified institutions.

Sign up now >>

Sector

Refine Results