Henderson Land 0012 / Lee Shau Kee

Re: Lee Shau Kee

Postby winston » Thu Sep 10, 2009 9:56 am

LSK expects the HSI to reach 25,000 by year end :?
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
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Re: Lee Shau Kee

Postby winston » Wed Oct 07, 2009 6:36 am

Offerings blow grazes Lee by Mandy Lo, The Standard HK

Billionaire Lee Shau-kee has shrugged off reports he was badly burned because recent initial public offerings in which he invested have performed badly.

Lee's statement came after his IPO top pick - China Resources Cement (1313) - closed at its offer price on its trading debut yesterday.

"I didn't lose as much as others claimed. It [his portfolio] was just slightly scratched," the tycoon said.

The Henderson Land Development (0012) chairman is estimated to have posted a paper loss of HK$3.04 million from his investment in CR Cement, China South City (1668), Sinopharm Group (1099) and Metallurgical Corp of China (1618).

Lee said he was alloted US$5 million (HK$39 million) worth of CR Cement shares. He spent HK$3 million on China South City shares.

He also invested in China Vanadium Titano-Magnetite Mining, which he described as "good stuff" but did not reveal the number of shares he held. China VTM will debut tomorrow, together with Yingde Gases and Ausnutria Dairy Corp.

"I expect China VTM and Yingde Gases to be dark horses and will at least maintain their offer prices because of their specialized businesses," said Bright Smart Securities general manager Nelson Chan Kai-fung.

http://www.thestandard.com.hk/news_deta ... 91007&fc=4
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Re: Lee Shau Kee

Postby winston » Fri Oct 30, 2009 7:26 am

Lee Shau-Kee Sells Shares to Purchase Hong Kong Land for Homes Share Business
By Chia-Peck Wong

Oct. 30 (Bloomberg) -- Billionaire Lee Shau-kee said he’s sold as much as 30 percent of his Hong Kong stock to buy land for homes, anticipating that the city’s efforts to damp prices won’t work.

Lee’s Henderson Land Development Co. and partner New World Development Co. will pay HK$9.6 billion ($1.24 billion) for a building site, he said at a press briefing in Hong Kong yesterday. Henderson is also spending more than HK$10 billion buying old buildings for redevelopment.

Hong Kong luxury home prices rose 28 percent in the first nine months of this year, according to Colliers International, while the benchmark Hang Seng Index almost doubled. The city’s government is trying to cool the increase by tightening downpayment requirements for luxury homes and suspending mortgage insurance for rental property. On Oct. 14, city Chief Executive Donald Tsang expressed concern that a property bubble may be forming.

“The new mortgage measures are not going to have much impact on luxury home prices,” said Lee, 81. “Most of those buyers are tycoons and don’t need to take up mortgages to buy.” The increase in luxury prices hasn’t affected the mid- segment market, he said. An apartment larger than 1,000 square feet (93 square meters) is categorized as luxury under local industry standards.

The Hong Kong dollar is pegged to the U.S. currency, so a decline in the U.S. dollar makes the city’s assets cheaper for non-residents, boosting demand further.

“With the depreciation in the dollar, if you don’t buy fixed assets, you will lose money,” Lee said. He said his company spent HK$20 billion on land, without specifying a time frame.

Record Price

Henderson said Oct. 14 it sold a luxury duplex at its 39 Conduit Road project for a world-record of HK$88,000 a square foot, excluding areas shared by all residents.

Values of homes of at least 160 square meters have broken a previous record set in the third quarter of 1997, the Hong Kong Monetary Authority, the city’s de facto central bank, said in an Oct. 23 statement to banks when it tightened downpayment requirements.

Henderson and New World agreed to buy an agricultural site from the government and convert it to residential use, with an allowed 2.95 million square feet of floor area, Henderson said in a Hong Kong stock exchange statement yesterday. The premium paid to convert the land to residential use was reported earlier by the Hong Kong Economic Times.

The average price is HK$3,253 per square foot, according to the statement. Henderson units will pay HK$6.53 billion. Of that, HK$5.45 billion will be paid by the company, with outside shareholders in the units paying the balance.

Wu Kai Sha

The project at Wu Kai Sha, in the northern part of Hong Kong, will produce more than 3,000 housing units, Lee said, adding that he hopes to start selling the apartments late next year.

The conversion is “positive” for Henderson and New World, Deutsche Bank AG analyst Ken Yeung said in a report yesterday. “Developers with huge farmland reserves will benefit from recent debates for the government to increase land supply in Hong Kong.”
Henderson owned 32.4 million square feet of agricultural land in Hong Kong as of June 30, the biggest among the city’s developers, the company said in August.

The developer also has paid HK$4.2 billion for nine old buildings it bought to redevelop in Hong Kong, and expects to pay another HK$6 billion for similar acquisitions, it said in the statement.

Lee ranked third in Forbes Magazine’s list of Hong Kong’s wealthiest people published in March. His worth was estimated at $9 billion, behind Li Ka-shing and the Kwok family of Sun Hung Kai Properties Ltd.

http://www.bloomberg.com/apps/news?pid= ... ZhQfBZu8f4
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Re: Lee Shau Kee

Postby winston » Fri Dec 04, 2009 11:13 am

Lee to trim holdings if HSI at 24,750 by Mandy Lo, The Standard HK

Henderson Land Development (0012) chairman Lee Shau-kee has fine-tuned his investment strategy, saying he will cut his stock exposure if the Hang Seng Index climbs to 24,750 points, but will buy should the benchmark plunge to 20,250.

"Take 22,500 as the middle range, I will sell some if the index rises 10 percent," Lee said yesterday.

"If it goes down 10 percent then I will buy."

In October, the tycoon said he would reduce his portfolio by 10 percent for each 1,000-point rise in the benchmark.

Lee said Henderson has confidence in the property market and plans to invest HK$25 billion on development in coming months.

"The funds raised from reducing our stock portfolio was mainly put in property. We expect to invest HK$15 billion on property projects and HK$10 billion as payment for land in the New Territories," he said.

Hong Kong's home market is not yet overheated and may rise another 10 percent next year, he said.

"People pay much less on mortgages because of the low interest rate."

Lee said Henderson plans to bid for two Tai Po sites which go on auction on December 28. He expects the bid price to reach HK$7,000 per square foot for each site after opening bids of HK$3.604 billion, or HK$5,055 psf.

He expects the land premium of a Tai Tong project in Yuen Long to exceed HK$2,000 per square foot, which is above Henderson's target price of HK$1,600.

"I thought the price in Yuen Long should be lower, but the government may set the land premium at HK$2,000. We may not accept this."

Lee said government moves to scrap concessions to developers in return for incorporating "green features" will be at the expense of homebuyers.

He said he "missed the boat" because he did not invest in gold. The Australian dollar remains his favorite currency investment.

As for Dubai World's debt woes, Lee said: "The [Hong Kong] market recovered after losing 1,000 points, showing that it is not a big deal."

http://www.thestandard.com.hk/news_deta ... 91204&fc=8
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Re: Henderson Land 0012

Postby millionairemind » Mon Jun 28, 2010 8:21 am

Published June 28, 2010

HK police get in the act over cancelled flat sales

(HONG KONG) Police are probing the controversial sale of luxury flats that fell through months after its developer said that one of them had set a world-record price, a report said yesterday.

The Sunday Morning Post, citing a Transport and Housing Bureau document, said that police had joined the probe into the sale after the government launched an investigation into the deal earlier this month.

A police spokesman could not be immediately reached for comment.

Property giant Henderson Land Development reported this month that the sale of as many as 20 out of 24 units at its exclusive 39 Conduit Road towers in the city's Mid-Levels residential area had been cancelled. The scrapped deals included what was supposed to be the world's most expensive apartment, a 6,158-square-foot duplex that Henderson said in October had sold for US$56.6 million.

Critics demanded a probe and asked why the cancellations came to light only eight months after the sales announcement, which helped hike prices for luxury residential flats in Hong Kong and stoked concerns about a property bubble.

Henderson has also been condemned for selectively numbering the floors on the 46-storey building as a ploy to attract Chinese buyers. The supposed 68th-floor duplex that snatched world-record price was actually on the 43rd and 44th floors, according to reports. It was so numbered because '68' sounds like 'continuing fortune' in Chinese and is considered lucky.

A Henderson official could not be immediately reached yesterday, but a spokeswoman told the Post that the company would cooperate with any police probe. -- AFP
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Re: Henderson Land 0012

Postby LenaHuat » Mon Jun 28, 2010 5:12 pm

HL officials have been hauled up for questioning 7 times and now the authority is calling in the police.
I suppose it's the HK CAD.
Wonder what our Marlboro Tan can learn from HK?
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Re: Lee Shau Kee

Postby winston » Wed Jun 22, 2011 6:05 pm

Hong Kong tycoon pays $2 mn bonus over baby joy

HONG KONG — One of Hong Kong's richest property tycoons will hand out a bonus worth $2 million to his 1,500 staff after his actress daughter-in-law gave birth to his sixth grandchild, his firm said Wednesday.

Lee Shau-kee, chairman of the leading property group Henderson Land Development, announced the windfall of HK$10,000 ($1,285) for employees to celebrate the baby boy who was born last week, said spokeswoman Bonnie Ngan.

"We will receive the money at the end of this month," a cheerful Ngan told AFP. The 83-year-old Lee, ranked 28th on the Forbes' list of billionaires and estimated to be worth $19 billion, has five children. The latest family addition comes from his youngest son, Martin, who is married to actress Cathy Chui. The boy's name is not yet known.

The couple already have two daughters.

It's not the first time that Lee has announced such a bonus for staff. In October he handed out HK$10,000 bonus to employees when his eldest son Peter, a bachelor, gave him triplet grandsons through a surrogate mother.

Male successors are important to Hong Kong's tycoons, some of whom have seen high-profile disputes break out among family members over their vast wealth.

Source: AFP
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Re: Lee Shau Kee

Postby kennynah » Wed Jun 22, 2011 9:09 pm

i was more interested to see who this starlet cathy chui is..

Image

so, you see..the universal norm is this...

rich fellas marry pretty SYTs...and pretty SYTs marry for money....simple concept
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Re: Lee Shau Kee

Postby Chinaman » Wed Jun 22, 2011 9:29 pm

WOW bro, swee man...who is this pretty gal....I got chance or not....me also million hairs.
oldman marry her sure die early 1, why leh? take too much 'tong kar ali' die c**k standing.


btw, SYTs stand for wat?
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Re: Lee Shau Kee

Postby LenaHuat » Wed Jun 22, 2011 9:44 pm

I don't believe Chairman :D does not know Sweet Young Thing (SYT) :lol:
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