Henderson Land 0012 / Lee Shau Kee

Henderson Land 0012 / Lee Shau Kee

Postby winston » Wed Nov 05, 2008 8:14 am

Lee reduces his China Life stake in portfolio rejig by Mandy Lo

Tycoon Lee Shau-kee has reshuffled his investment portfolio amid the volatile equity market and reduced his stake in one of his favorite companies.

The billionaire, who realized HK$616.9 million from selling 31.82 million shares of China Life Insurance (2628) on October 30, said he bought 1.25 million shares in Bank of East Asia (0023) yesterday for HK$20 million.

The chairman of Henderson Land Development (0012) said this was a portfolio adjustment, locking in profit on China Life shares he bought five years ago at HK$3.625 each.

Lee gained HK$501.5 million from the share disposal - six times the original investment. According to Hong Kong Exchanges and Clearing, the billionaire sold the stake at an average HK$19.387 per share for a total HK$616 million.

The sale reduced the number of China Life shares held by various Lee companies to 351.54 million. He bought about 435 million shares when China's largest insurer listed in 2003.

Meanwhile, Lee bought about 14.26 million units in Sunlight Real Estate Investment Trust (0435) at HK$1.903 per unit last Thursday for a total HK$27.13 million. He now owns a 30.21 percent stake in Sunlight REIT, from 29.56 percent.

Lee had intimated plans to change his investment portfolio in September but declined to reveal details.

Shares of China Life have plunged 48 percent from HK$39.85 on January 2 to HK$20.75 at yesterday's close. BEA shares have sunk 69.5 percent to HK$16.20, from HK$53.10, while the price of Sunlight REIT has dived 51 percent to HK$1.14, from HK$2.34 at the start of the year.

Source: The Standard HK
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Re: Lee Shau Kee

Postby winston » Mon Dec 08, 2008 7:30 am

Lee exudes optimism amid gloom by Mandy Lo

Henderson Land (0012) employees will receive an extra month's salary as bonus this year as they have in the past and will get a pay rise of between 1 to 2 percent next year, while the developer has no plan to slash staff, chairman Lee Shau-kee said.

Lee said Henderson will not stop any construction projects and will not cut investment in the mainland. Instead, it may even consider acquiring land if the price in China drops too low.

He said the Hong Kong share market may hopefully leap above 14,000 soon and climb 2,000 to 3,000 points next year. "Hong Kong people wish for a good stock market. It may rise above 14,000 next time, then everyone will be happy."

Lee said he will continue a defensive strategy of stock investment to keep his portfolio on hold because this is not a suitable time to be aggressive. He expects the Hong Kong economy to take less than two years to recover from the financial turmoil, although he said he cannot see when the worst time is or when the recession will end.

Henderson plans to buy its shares back and has been in discussions with the Securities and Futures Commission for more than two months. Lee said there has not been much progress owing to the complicated procedure.

He said the slight decline in the local home market is normal after the stock market slumped by 50 percent. But he pointed out that property prices did not fall as much as share prices did.

He expects the property market to rebound in the second half of next year.


Lee said his Christmas and New Year wish is for the flat sales to improve, as home trades of counterpart Sun Hung Kai Properties (0016) are also favorable.

Instead of monitoring the stock market closely, Lee said he plans to travel with family to Europe and Japan.

Source: The Standard HK
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Henderson Land 0012

Postby winston » Mon Apr 20, 2009 3:44 pm

DJ MARKET TALK:Henderson Land +3.6%;Chmn Ups Stake,HK$40 Cap-ICEA

1159 [Dow Jones] Henderson Land (0012.HK) +3.6% at HK$37.00, outperforming vs Hang Seng Property Subindex (+2.2%), after Chairman Lee Shau Kee raises holding in company. Exchange disclosure shows Lee has raised his stake on April 9, 14 and 15, buying total of 1.43 million shares at HK$48.7 million; his holding raised to 53.82% vs 53.75% previously.

ICEA's Ernie Hon tips psychological HK$40 as a short-term cap for Henderson Land. "The chairman's stake increase offers an immediate reason for the strong performance for Henderson Land, but I prefer Cheung Kong (0001.HK), as its current level looks more attractive," says Hon. CK +14.8% month-to-date, vs Hang Seng Property Subindex's 18.2% gain, Henderson Land's 21.0% rise, Sun Hung Kai Properties' (0016.HK) 23.1% rally during same period. Hon tips CK may see 10% more upside vs current level near-term. CK +3.3% at HK$79.15, SHKP +0.2% at HK$85.60
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Re: Henderson Land 0012

Postby winston » Mon Apr 27, 2009 7:59 am

Henderson has high hopes in the mainland by Mandy Lo, The Standard

Henderson Land (0012) has set a long- term target of reaping 3 billion yuan (HK$3.41 billion) annually from its mainland property projects, according to executive director John Yip Ying-chee.

Henderson plans to launch residential projects in September and October.

"Another price war in the mainland home market is unlikely as China's property inventory was reduced after the market consolidated last year," Yip told Sing Tao Daily, sister paper of The Standard.

"We may accelerate development if satisfying sales are reported. We expect to complete development of 10 million square feet in gross floor area in 2010 and 12 million to 15 million sq ft in 2011," Yip said.

The sale of housing units in eight major cities, including Beijing, Guangzhou and Chengdu, jumped at least 35 percent in the first quarter while Shanghai recorded a 6 percent year-on-year growth, data from JPMorgan show.

"Despite current home prices, the development of the existing land bank should enjoy a profit margin of 30 to 40 percent as the land was acquired years ago, before prices rallied," Yip said.

He expects income from mainland property sales to reach at least 900 million yuan in the long term if completed units are sold on a 30 percent profit margin.

Investment properties are tipped to fetch 1 billion yuan in rental income after five years, Yip said.

Henderson aims to lease 30 million sq ft of its land bank in the mainland and 100 million to 120 million sq ft for development and sales.

The developer has a mainland land bank of 116.9 million sq ft in developable gross floor area, with 77 percent earmarked for residential projects, 11 percent for offices, 9 percent for commercial use and the remaining 3 percent for community facilities.
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Re: Lee Shau Kee

Postby winston » Wed Apr 29, 2009 6:50 am

Lee calls the bottom by Alfred Liu and Benjamin Scent, The Standard HK

Investment guru Lee Shau-kee yesterday sought to calm investors' nerves, saying he expects local stocks to improve in the second half of the year.

He also hopes the Hang Seng Index will reach 20,000 points when confidence returns to the banking sector.

Investors may want to jump back into the market when the blue-chip measure falls to 12,000 points, Lee added.

The Henderson Land (0012) chairman said swine flu will not have a big impact on the market and attributed recent declines to psychological factors.

"The market is at the bottom of a U shape now," he said. "I believe it will perform better in the second half."

Lee, who said he has not been trading aggressively, sees shares of major Chinese firms as a good buy and favors the Australian dollar as a foreign-exchange investment.

But he is not paying attention to initial public offerings this year as they are not profitable enough for investment.

The portfolio of his private investment vehicle, Shau Kee Financial Enterprises, has fallen 40 percent from its HK$200 billion peak in early 2008.

Lee also expects the government to soon finalize the land premium on Henderson's Wu Kai Sha residential project, saying less than HK$2,000 per square foot would be reasonable.

Hong Kong stocks were battered again yesterday, reversing early gains to fall 1.9 percent, after the World Health Organization flagged an increased risk of swine flu erupting into a pandemic.

The Hang Seng Index fell 285.31 points to close at 14,555.11. Shares worth HK$56.24 billion changed hands, up from HK$53 billion on Monday.
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Re: Lee Shau Kee

Postby winston » Fri May 15, 2009 8:29 am

Lee urges exit at 20,000 by Alfred Liu, The Standard

Investment guru Lee Shau-kee advises investors to grab profits when the stock market breaches the 20,000 mark, saying hot money would be flowing out from the SAR soon.

Hong Kong shares slipped below 17,000 points yesterday following the sharp recent rally and an unexpected drop in US retail sales. The benchmark Hang Seng Index was down 3.04 percent, or 517.93, to close at 16,541.69.

Main board turnover was HK$63.65 billion, down 56.7 percent from HK$146.62 billion on Wednesday.

However, a level of 17,000 is normal and reasonable as the stock market also saw the the same level when US investment bank Lehman Brothers collapsed last year, Lee told reporters yesterday.

"Foreign investment [firms] are speculating ridiculously and they will go when the market is driven up," said the chairman of Henderson Land (0012).

The huge inflow of funds into Hong Kong continues as the aggregate balance, a measure of liquidity in the local banking system, will rise to a new record of HK$253.095 billion on Monday. The Hong Kong Monetary Authority injected HK$3.875 billion into the money market yesterday to defend the currency peg.

Lee, known as Uncle Four, said he intends to take profits when the market reaches 20,000 by selling some stocks he bought at a level between 12,000 and 14,000. "Don't hold shares tight until the end," he said.

The billionaire investor predicts the stock market will perform better in the second half of this year as confidence of banks for lending between each other is expected to come back by then.

Lee said he has been keeping informed, receiving information from bankers and other financial firms.

( Somebody should tell him about Huatopedia :P )

However, the tycoon warned of a resurgence of inflation soon as the United States continues to print money, and because of lower interest rates in the wake of severe deficits.

When inflation comes, Lee will sell some of his shares to buy Hong Kong and mainland property stocks and energy stocks, including metal, oil and coal companies.

Lee said hot money is not likely to flow into the property market as it is relatively hard to quit.

He also expects the mainland to maintain economic growth at 8 percent and said he appreciated the country's measures, including stimulating domestic sales, to boost the economy.

China is the best among countries in the emerging market, Lee said.
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Re: Lee Shau Kee

Postby winston » Wed May 20, 2009 4:31 pm

From eauyong with thanks..

Lee calls Citic Pacific his worst investment by Denise Tsang

Henderson Land Development chairman Lee Shau-kee says he is sitting on paper losses of "hundreds of millions of dollars" after the collapse of troubled Citic Pacific's share price.

Mr Lee yesterday said Citic Pacific was his "worst investment at present".

Police are investigating the blue-chip infrastructure firm's wrong-way bets on the Australian dollar which led to the resignations of chairman Larry Yung Chi-kin and managing director Henry Fan Hung-ling.

Mr Lee, who did not say how many Citic Pacific shares he bought and at what price, still holds the stock.

Citic Pacific shares hit a record high of HK$50.45 in October 2007 before plunging to HK$3.55 in October last year. They closed at HK$14.18 yesterday.

"The Australian dollar has gone back up so the company was a hero in picking it," said Mr Lee. "However, the pick was ill-fated as it didn't cover the shortfall in the contracts when the currency depreciated sharply in October last year."

Mr Lee is the first tycoon exposed to Citic Pacific to publicly comment on the troubled conglomerate, which analysts say faces as much as US$2 billion in losses from the currency bets.

Fearing the prospect of inflation "soon", Mr Lee said he was buying stocks related to mineral resources, oil production, coal mining, energy and real estate. He saw signs of "hot money" flowing into the stock market, which had pushed the Hang Seng Index above 17,000 points recently.

"The 17,000 level is reasonable," he said after chairing the annual meeting of Hong Kong and China Gas. "Take profit when it goes to 20,000 points."

Source: South China Morning Post
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Re: Lee Shau Kee

Postby winston » Fri Jul 24, 2009 2:42 pm

He was asking people to sell when it reach 20,000. Wonder what he's doing now ?
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Re: Lee Shau Kee

Postby eauyong » Fri Jul 31, 2009 4:56 pm

Stick to his words.

Lee Shau-kee begins cutting equity holdings
16:27
Infocast

(Infocast News) Following the recent rally of the Hang Seng Index to above the 20000 level, Henderson Land (00012) chairman Lee Shau-kee has sold some of the Hong Kong shares he held, Commercial Radio Hong Kong reports.

As the HSI is still below the first target level of 21000, the shares he has sold only amounted to 2-3% of his share holding, Lee said.

Lee also said he will adhere to his original plan of selling 10% of his shares for every 1000 points of rise above the 20000 level, until he had sold 50% of his shares.

Lee believes that the market's worry about credit tightening in mainland China has diminished and that the HSI will be hovering up and down for the near term under continued support.
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Re: Lee Shau Kee

Postby winston » Fri Jul 31, 2009 5:09 pm

No, he did not stick to his words. From the various articles above, he said sell when the HSI reach 20,000 ..

Hmmm... Maybe this could be the catalyst to bring HK down :? :P

And he sold China Life too early.

Wonder whether he's 100% invested. Sounds like it ..

However, I still think it will be Shanghai that will bring HK down. Let's see ...
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