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CGS-CIMB and DBS remain positive over Hongkong Land

The Edge Singapore
The Edge Singapore3/7/2022 05:17 PM GMT+08  • 2 min read
CGS-CIMB and DBS remain positive over Hongkong Land
In contrast to mainland Chinese developers, Hongkong Land has sped up its landbanking activities in China.
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Analysts have largely kept their calls and target prices on Hongkong Land, with a common view that the developer’s on-going share buyback will be a support for its share price despite mixed signals of recovery in its core businesses.

Thus far, notes DBS Group Research’s Jeff Yau, Hongkong Land has spent some US$272 million to buy back 50.5 million shares as of end of last month.

Last September Hongkong Land had announced a US$500 million buy back programme by end of 2022.

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