Hongkong Land

Analysts cut TPs on Hongkong Land, highlight attractive valuation for investors willing to look beyond industry downturn - THE EDGE SINGAPORE

Broker's Calls

Analysts cut TPs on Hongkong Land, highlight attractive valuation for investors willing to look beyond industry downturn

All eyes are currently on the strategic review which is expected to be completed before end-2024.

Results

Provisions in China Development Properties leads to Hongkong Land’s US$7 mil underlying loss in 1HFY2024

Excluding the impact of the non-cash provision, underlying profit attributable to shareholders was US$288 million, 32% lower y-o-y

Broker's Calls

CGS International lowers TP to $3.30 for HongKong Land following challenging near-term outlook

In FY2024, the analysts estimate a higher impairment provision for the group’s China development properties business.

Corporate moves

Hongkong Land reimagines Landmark

Hongkong Land has a billion-dollar plan to transform its largest property in the SAR
Is Hongkong Land a value trap or undervalued? - THE EDGE SINGAPORE

Property

Is Hongkong Land a value trap or undervalued?

We think that Hongkong Land is fairly valued at current prices and fundamentals.
Hongkong Land and 10 tenants commit over US$1 bil to redevelop Landmark - THE EDGE SINGAPORE

Corporate moves

Hongkong Land and 10 tenants commit over US$1 bil to redevelop Landmark

Hongkong Land and its tenants will spend US$1 bil to redevelop Landmark.

Global Economy

Briefs: Yen poised for big swings; London Metal Exchange looks to set up warehouse in HK; Amazon hits US$2 tril in value

In other news this week, companies accused of "climate-washing" are increasingly finding themselves the target of litigants.
Hongkong Land and tenants to invest over US$1 bil to transform The Landmark - THE EDGE SINGAPORE

Company in the news

Hongkong Land and tenants to invest over US$1 bil to transform The Landmark

Mainboard-listed Hongkong Land will invest over US$400 million to expand and upgrade its retail portfolio at The Landmark.
Hedge fund firm Dymon Asia Capital signs lease for office in Hongkong Land’s Edinburgh Tower - THE EDGE SINGAPORE

Company in the news

Hedge fund firm Dymon Asia Capital signs lease for office in Hongkong Land’s Edinburgh Tower

The office expansion comes at a time when Hong Kong is seeing record premium office vacancies and declining rental rates.
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