New World China 0917

New World China 0917

Postby winston » Thu Jun 19, 2014 11:48 am

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NEW WORLD CHINA's privatization plan vetoed; Henry Cheng: Game rule not reasonable
Jun 17, 2014

NEW WORLD CHINA (00917.HK)'s Chairman Henry Cheng Kar Shun said the privatization plan get vetoed mainly because the rule of the game is not reasonable, but he will respect the results.

In addition, Cheng said the proceeds of over $13 billion raised by NEW WORLD DEV (00017.HK) earlier for the privatization of NEW WORLD CHINA will now be used for the development of the latter.

Meanwhile, the company will also seek investment opportunities in Mainland and Hong Kong to increase its land reserves.

Source: AAStocks Financial News
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Re: New World China 0917

Postby winston » Thu Jun 19, 2014 11:50 am

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<Research Report>NEW WORLD DEV (00017.HK) target cut to $9.1, kept Neutral - UBS
Jun 17, 2014

The privatization resolution of NEW WORLD DEV (00017.HK) was rejected by shareholders yesterday.

According to the latest research report by UBS, the turn down of the privatization shall be a good news to NEW WORLD DEV, since it can be more concentrated on real property development in Hong Kong.

The bank pointed out the property market in HK should provide more advantages to the developer, thanks to the strong market demands.

Target price was reduced from $9.3 to $9.1, and rating was retained at Neutral.

Source: AAStocks Financial News
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Re: New World China 0917

Postby winston » Thu Jun 19, 2014 11:51 am

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<Research Report>M Stanley 'Underweight' NEW WORLD DEV after privatization fails
Jun 17, 2014

In the latest research report, Morgan Stanley commented that though the privatization for NEW WORLD CHINA (00917.HK) was rejected, NEW WORLD DEV (00017.HK)'s balance sheet has been improved after the rights issue.

Meanwhile, the new property market has resumed its strength, benefiting its project Grand Austin, in cooperation with Wheelock.

Morgan Stanley noted that after the rights issue, New World Dev's gearing ratio was cut from 35% in late 2013 to 26%, which may be further reduced after the launch of Grand Austin.

The low gearing ratio can help the development, as well as the participation in land auctions by the Group.

However, the valuation of New World China may continue pressured, limiting the upside potential of New World Dev. The Underweight rating is set for the latter.

Source: AAStocks Financial News
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Re: New World China 0917

Postby winston » Thu Jun 19, 2014 11:52 am

Cheng Kar Shun: No plan to raise privatization offer of NEW WORLD CHINA (00917.HK)
May 22, 2014

NEW WORLD DEV (00017.HK) Chairman Cheng Kar Shun stressed the group has no plan to raise the privatization offer of NEW WORLD CHINA (00917.HK), although its valuation was lifted.

Besides, Cheng explained NWS HOLDINGS (00659.HK) had decided to dispose its equity interest in CEM, since the buyer had proposed a satisfactory offer.

Source: AAStocks Financial News
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Re: New World China 0917

Postby winston » Thu Jun 19, 2014 11:53 am

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Privatization offer of NEW WORLD CHINA (00917.HK) represents 32.5% NAV discount
May 19, 2014

NEW WORLD DEV (00017.HK) issued a notice regarding the potential privatization of NEW WORLD CHINA (00917.HK) last Friday.

According to the notice, NAV of NEW WORLD CHINA had increased 50.7% to $87.38 billion as at the end of 2013, after revaluation and adjustments.

NAV per share rose from $6.68 to $10.07.

As such, the privatization offer of $6.8 per share represents approx. 32.5% discount to NAV per share.

Independent financial adviser Quam Capital commented the offer is reasonable.

Source: AAStocks Financial News
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Re: New World China 0917

Postby winston » Thu Jun 19, 2014 11:54 am

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<Research Report>NEW WORLD DEV (00017.HK) rated Neutral, target lowered to $9.5 - G Sachs
Apr 15, 2014

In the latest research report, Goldman Sachs lowered NEW WORLD DEV (00017.HK) 2014-16 EPS forecast by 11.7%, 21.1% and 22.5%, and reduced the NAV forecast to reflect the dilution effect from the rights issue announced in March.

New World Dev's target price was cut from $12.38 (after rights issue) to $9.5, with Neutral rating remained.

JP Morgan said the Mainland economy is seeing hidden worries, and the Company did not reveal any special strategy relating to the privatization of NEW WORLD CHINA (00917.HK), adding uncertainties.

Source: AAStocks Financial News
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Re: New World China 0917

Postby winston » Thu Jun 19, 2014 2:08 pm

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Investment Action

The privatization failure of New World China Land caused some damage to the company's shareholders, but it had limited effect on the company's operation.

We think that its performance growth is orderly and progressive, the multi-business development and the financial soundness ensured the company's higher safety margin while its lower financing cost and scientific management framework highlighted its competitive advantages.

We rate New World China Land "Accumulate" with a 12-month target price of 5.5 HK Dollars, and the target price is equal to 8.5 times of the price earning ratio in 2015.


Source: Phillips
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Re: New World China 0917

Postby winston » Tue Sep 23, 2014 2:12 pm

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<Result Ann>NEW WORLD CHINA (00917.HK) FY net profit up 0.5%

NEW WORLD CHINA (00917.HK) announced results for the year ended 30 June 2014. Net profit amounted to $4.639 billion, up 0.48% yearly, which was mainly attributable to the effect of decline in foreign gain resulting from RMB depreciation by approximately 1.3%.

EPS was HK53.49 cents, with a final dividend of HK3 cents.

During the period, revenue surged 38.54% yearly to $22.38 billion; gross profit totaled 9.282 billion, up 37.34% as compared to a year ago.

Source: AAStocks Financial News
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Re: New World China 0917

Postby winston » Fri Dec 04, 2015 1:10 pm

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NEW WORLD CHINA Once Tumbles 11%; Earns Nearly $6.6B on Projects Disposal

JP Morgan set the target price of NEW WORLD CHINA (00917.HK) at $11.3 and Deutsche Bank determined the company's one-year target price at $13 after its gain of nearly $6.6 billion for disposal of three projects.

The stock snapped its seven-day rise this morning. It once sank below 50-day, 20-day and 10-day MA ($5.06, $5.13 and $5.16) on more cash-in orders, with a sharp correction of 11% at most.

It met resistance at $4.97 and last printed at $5.07, plunging 9.3%, on doubling volume to 9.82 million shares.

Source: AAStocks Financial News
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Re: New World China 0917

Postby winston » Fri Dec 04, 2015 1:12 pm

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Dec 3, 2015

<Research House>Macquarie Expects NEW WORLD CHINA (00917.HK) NAV per Share Up $0.67

Macquarie, in its report, rated NEW WORLD CHINA (00917.HK) at Neutral with a target price of $4.8 on the ground that the company disposed four projects to EVERGRANDE (03333.HK) at a consideration of RMB13.5 billion, representing 34% of the market capitalization of the company.

The share price responded positively to the news. The transaction was estimated to raise net annual value (NAV) per share by $0.67.

The net gain arising from the disposal would reach $6.6 billion for the financial year 2016.

The research house believed any further news regarding the disposal would become a booster to the share price.

If the company declared a special dividend, its holding company NEW WORLD DEV (00017.HK) would be benefited.

Source: AAStocks Financial News
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