0253 GMT [Dow Jones] Ying Li International Real Estate (5DM.SG) +7.8% at S$0.555 on above-average volume, with interest driven by several married deals done at around S$0.50. Interest in China-based commercial property developer has picked up substantially since company announced share placement late August to raise S$28.7 million for development of International Financial Centre in Chongqing city. "Before the placement, there wasn't much liquidity in the shares, but people are now starting to take notice," says local house analyst. Adds, Ying Li well-positioned to capture development projects as Chongqing government plans to demolish number of older commercial buildings, turn them into more modern office properties; "they will have some form of involvement in redevelopment, especially since they have a very strong working relationship with the government." Given Chongqing authorities' urban renewal drive, CIMB, which has no rating on stock, calls Ying Li's prospects strong, ideal for investors prepared to look beyond a year. Orderbook quotes suggest stock may head up to S$0.57. (FKH)
