Sun Hung Kai Properties 0016

Re: Sun Hung Kai Properties 0016

Postby winston » Mon Jul 16, 2012 1:51 pm

vested

DJ MARKET TALK: Barclays Cuts SHKP Target To HK$87.50; Tips 3 Risks

0941 [Dow Jones] STOCK CALL: Barclays lowers SHK Properties (0016.HK) target price to HK$87.50 from HK$92.16 and keeps the stock at Underweight.

It says the charging of the developer's co-chairmen with bribery and public misconduct has three key implications:
1. it will significantly reduce the involvement of the co-chairmen in the company's running;
2. it raises further corporate governance issues; and
3. it opens the company to a potential fine.

Barclays adds, Sino Land (0083.HK), which outperformed the sector following the SHKP co-chairmen's arrests, is likely to be the main beneficiary.

SHKP is down 0.8% at HK$94.65 on resuming trade while Sino Land is up 1.3% at HK$12.74.


Source: Dow Jones Newswire
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Re: Sun Hung Kai Properties 0016

Postby winston » Tue Jul 17, 2012 6:47 am

SHKP shares fall 1pc over bribery case
Tuesday, July 17, 2012

Shares of Sun Hung Kai Properties (0016) fell just 1 percent on the first day of trading, after its co-chairmen were hit with bribery charges by the Independent Commission Against Corruption.

Most analysts said the charges were expected, but some urged the developer to clearly address concerns about who will run the company in the future and its management strategy.

Such questions are a major overhang on the stock, they said .

SHKP shares closed at HK$94.50 yesterday. Subsidiary SmarTone Telecom (0315) barely moved at HK$15.92, while GEM board-listed SunEvision (8008) lost 2 percent to HK$1.41.

SHKP reiterated the firm's revamped management team will maintain operations, despite the allegations against its chiefs, Thomas Kwok Ping-kwong and Raymond Kwok Ping-luen.

Merrill Lynch said it expects the case to take up to two years, based on how long it took the ICAC to prosecute Television Broadcast's (0511) former general manager Stephen Chan Chi-wan.

Meanwhile, Bank of East Asia (0023) and Wing Tai Properties (0369) said the charges against their respective board members, Thomas and Raymond Kwok, are not related to their companies.

http://www.thestandard.com.hk/news_deta ... 20717&fc=2
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Re: Sun Hung Kai Properties 0016

Postby winston » Tue Jul 17, 2012 11:20 am

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SHK PPT (00016) calms down fears during global investor conference

Last Friday, the Independent Commission Against Corruption charged the co-chairmen of SHK PPT (00016), Thomas Kwok and Raymond Kwok, with bribery.

The developer last night held its first-ever global investor telephone conference, during which it calmed down investor fears, in a bid to defend the company's image.

Patrick Chan, Executive Director and Chief Financial Officer of SHK PPT, chaired the conference and emphasized the group's operations are not affected by the probe of ICAC.

All the property projects of SHK PPT in China and Hong Kong will be developed as planned, Chan said.

The developer also kept its full-year sales target of HK$32 billion unchanged.

Source: AAStocks Financial News
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Re: Sun Hung Kai Properties 0016

Postby winston » Fri Jul 20, 2012 10:41 am

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SHK PPT (00016) restored Buy with target set at HK$121.4 by GS

Source: AAStocks Financial News
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Re: Sun Hung Kai Properties 0016

Postby winston » Fri Oct 12, 2012 11:36 am

Not vested

Appearing in court at 2.30pm
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Re: Sun Hung Kai Properties 0016

Postby winston » Fri Dec 19, 2014 8:07 pm

Hong Kong tycoon guilty of corruption

HONG KONG (CNN) - A billionaire who jointly controls Asia's biggest property development company and a former No. 2 official of Hong Kong were found guilty of conspiracy to commit misconduct in the city's biggest corruption trial.

The tycoon, Thomas Kwok, along with his younger brother, Raymond Kwok, were accused of bribing Rafael Hui, the government official, in offenses spanning nearly a decade. The Kwok brothers, who rank 86th on the 2014 Forbes list of the world's richest people, are co-chairs of the developer giant Sun Hung Kai, which is responsible for many of Hong Kong's most iconic skyscrapers.

The main question during their trial was whether they had bought the allegiance of Hui, Hong Kong's former chief secretary.

After five days of deliberation, a Hong Kong High Court jury found the older Kwok guilty of bribing Hui between 2005 and 2007. His younger brother was cleared of all charges.

Hui is the highest-ranking former official to face trial in Hong Kong. The court looked into whether Hui received monetary and housing benefits worth at least $4.3 million from the Kwoks in return for government decisions favorable to the company. The charges related to accepting rent-free apartments, unsecured loans and a consultancy agreement with the property company.

The jury found him guilty on three counts of misconduct in a public office, conspiracy to commit misconduct in public office and conspiracy to offer an advantage to a public servant.

The jury also found Thomas Chan, who was responsible for land acquisition at the company and Francis Kwan, a former Hong Kong Stock Exchange official, guilty for making a series of payments to Hui.

The sentencing hearing for the four who were convicted will be held Monday. Raymond Kwok was released from custody after his arrest in 2012.

As he left the court, Kwok said he had mixed feelings that he was free, but his brother had been found guilty.

The case caused a media frenzy in the city, where real estate is a local obsession. Sun Hung Kai, which helped to build some of the tallest buildings in the city's celebrated skyline, contributed to the Kwok brothers' estimated $18.3 billion fortune.

Hong Kong, a special administrative region of China, is considered to be one of the world's least corrupt territories. According to Transparency International's 2013 Corruptions Perceptions Index, Hong Kong is the 15th least corrupt territory in the world -- with the United States, by comparison, ranked 19th.

Source: CNN

http://www.click2houston.com/news/hong- ... n/30312078
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HK - Economic Data & News 02 (Oct 14 - Dec 15)

Postby behappyalways » Wed Dec 24, 2014 11:10 am

Billionaire Brothers’ Mom Brokered Sun Hung Kai Peace
http://www.bloomberg.com/news/2014-12-2 ... okers.html
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Re: Sun Hung Kai Properties 0016

Postby winston » Tue Oct 06, 2015 4:45 am

not vested

With a price-to-book ratio of 0.66 times and a 3.3 percent dividend yield the valuation of Sun Hung Kai Properties (0016) attracts.

It closed at HK$100.90 still 27 percent down from a four-year high in May.

Source: Dr Check, The Standard
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Re: Sun Hung Kai Properties 0016

Postby winston » Mon Mar 07, 2016 12:49 pm

SHKP sees gold as luxury retailers move out of Hong Kong’s tourist belt

by Sandy Li

Source: SCMP

http://www.scmp.com/property/article/19 ... urist-belt
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Re: Sun Hung Kai Properties 0016

Postby winston » Mon Mar 07, 2016 12:50 pm

SHKP sees gold as luxury retailers move out of Hong Kong’s tourist belt

by Sandy Li

Source: SCMP

http://www.scmp.com/property/article/19 ... urist-belt
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