Aug 26, 2010
Press Release

Ying Li Signs Strategic Alliance Agreement with Standard Chartered Bank

• Bank credit facilities of US$200million for project developments and site acquisitions.

Singapore Exchange (SGX) Mainboard listed Ying Li International Real Estate Limited (“Ying Li” or the “Company”, and together with its subsidiaries, the “Group”), is pleased to announce today the signing of a strategic alliance agreement (the “Agreement”) with Standard Chartered Bank (China) Limited (“SCB”).

The Agreement consists of credit facilities of up to US$200million to fuel growth for the company, such as site acquisitions and project development purposes when the opportunities arise for the funds to be deployed. In the Agreement, if required, SCB shall also provide banking services such as syndicated loan, foreign currency commercial loan, bridging loan, guarantees, trade and project financing (included but not limited to real estate development loan, commercial property lending), global market business (included but not limited to foreign exchange, interest rate-related risk management and asset management business).

Commenting on the signing of the Agreement, Mr. Fang Ming, CEO of Ying Li, said: “Following the successful issuance of the S$200 million convertible bonds offering earlier this year, this alliance further serves as a testament of confidence we receive both from the banking and investment community. With the ability to secure funding through debts and equity, we are able to further pursue our growth strategy and strengthen our leadership position as the largest commercial property developer in the core CBDs of Chongqing.”