SINGAPORE (May 14): DBS Group Research says Hongkong Land’s rental income expansion from Central’s office market should benefit from sustained demand from Chinese firms, tight vacancy and limited new supply.
On April 9, Hongkong Land repurchased 12.3 million shares at US$7 ($9.33) each in the open market, marking its first share repurchase in more than 15 years.
“This signals the strong embedded value of the stock,” says lead analyst Jeff Yau in a May 10 report.
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