浩9
2021-09-17

$YANGZIJIANG SHIPBLDG HLDGS LTD(BS6.SI)$

Evergrande debt implication on YZJ


YZJ has limited disclosure on its debt investments. So there is no information showing YZJ actually held Evergrande Debt

Analysis from public available information

Source: YZJ 1H Financial Result

Total Debt amortised at cost:

10,907,170+5,719,110=16,626,280


Debt investment as a percentages of total asset:

16,626,280/47,334,191 = 35%

This means that if all YZJ debt investment get wipe out, 35% of its assets will be gone


Concern about Real Estate debt default.

About 41% of its debt investments were from real estate sector.

0.41 x 16,626,280 = 6,816,774.8


Real estate debt investment as a percentage of total asset:

6,816,774.8/47,334,191 =14.4%

This means that if all YZJ real estate related debt investment get wipe out, 14.4%% of its assets will be gone.

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