Hongkong Land

[winston]

not vested

Our Views

HOLD with US$5.07 TP.

The stock is trading at a 54% discount to our appraised current NAV, after the recent share price appreciation.

In view of current headwinds in the Central office sector, we foresee no short-term catalyst to narrow the NAV discount further.

Source: DBS

https://www.dbs.com.sg/treasures/aics/s ... HKL_SP.xml

[winston]

not vested

Continue to ‘add’ Hongkong Land despite lower underlying profit for FY20: CGS-CIMB

by Atiqah Mokhtar

CGS-CIMB Research is maintaining its ‘add’ rating on Hongkong Land Holdings with a higher target price of US$5.70 ($7.67) from $5.30 previously after the company announced its FY2020 results ended December 2020 on March 11.

Despite Hongkong Land’s underlying profit for FY2020 declining by 11% y-o-y to US$960 million due to Covid-19 impacting development property delivery, CGS-CIMB analyst Raymond Cheng notes that it exceeded his estimates, while dividend per share for the period was maintained at 22 US cents, similar to the last two years.

While vacancies for its Hong Kong office portfolio rose from 2.9% to 6.3% in FY2020, Cheng points out that average monthly rent remained flat at HK$120 ($20.79) per square foot.

Source: The Edge

https://www.theedgesingapore.com/capita ... 0-cgs-cimb

[winston]

not vested

Hongkong Land Holdings says Covid-19 will have impact on its full-year performance

by Felicia Tan

Rental reversions in its Hong Kong Central office portfolio were negative, although its committed vacancy improved 0.9 percentage points q-o-q to 6.8% as at March 31.

In Development Properties, Hongkong Land’s attributable interest in contracted sales in China improved nearly four times y-o-y to US$410 million ($547.3 million) in the 1QFY2021 from US$107 million due to the pandemic-related suspensions of sales and development activities in 1QFY2020.

Source: The Edge

https://www.theedgesingapore.com/capita ... erformance

[behappyalways]

Hongkong Land 1HFY2021 US$865 million in the red, on further revaluation losses
https://www.theedgesingapore.com/capita ... ion-losses

[behappyalways]

Hongkong Land narrows FY2021 loss to US$349 mil, maintains dividend
https://www.theedgesingapore.com/capita ... s-dividend

[behappyalways]

Hongkong Land reverses to profitability with US$292 mil earnings for 1HFY2022
https://www.theedgesingapore.com/capita ... s-1hfy2022

[behappyalways]

Hongkong Land says underlying profit for 1QFY2023 lower y-o-y
https://www.theedgesingapore.com/capita ... ower-y-o-y

[behappyalways]

Hongkong Land reports US$333 mil loss for 1HFY2023; underlying earnings down 1% y-o-y to US$422 mil
https://www.theedgesingapore.com/capita ... -o-y-us422

[behappyalways]

Hongkong Land takes writedown on office properties, incurs US$582 million loss for FY2023
https://www.theedgesingapore.com/capita ... oss-fy2023