CK Asset (former Cheung Kong Property) 1113

Re: Cheung Kong Property Holdings 1113

Postby winston » Fri Aug 12, 2016 3:42 pm

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<Post Result>Brokers' Latest Ratings & TPs on CK PROPERTY (01113.HK) (Table)

CK PROPERTY (01113.HK) announced the interim result of 2016 on 11 August (yesterday).

During the period, the net profit rose 24.9% yearly to $8.606 billion;

EPS was $2.23; interim dividend of 38 cents was declared, as compared to 35 cents a year ago.

During the period, the profit before investment property revaluation rose 50.6% yearly to $8.339 billion, higher than the market expectation.

The company said with a major focus on the property businesses, the group will also pursue other global investments to extend its reach to new business areas. The stock plunged 2.6% this morning to $55.55.

7 brokers listed their ratings and target prices, with 2 lifting target prices:

Broker/ Ratings/ Target prices (HK$)
JPMorgan/ Overweight/ 72.6
Goldman Sachs/ Buy/ 70->72
Daiwa/ Buy/ 71
UBS/ Buy/ 70.07
Credit Suisse/ Outperform/ 62.2->65.9
Bank of America Merrill Lynch/ Buy/ 61->65
Morgan Stanley/ Overweight/ 61

Source: AAStocks Financial News
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Re: Cheung Kong Property Holdings 1113

Postby winston » Fri Aug 12, 2016 3:44 pm

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<Research Report>CK PROPERTY (01113.HK) Rated at Outperform with Target Raised to $65.9 by C Suisse

Credit Suisse, in its report, said the only disappointing thing in the result announcement of CK PROPERTY (01113.HK) was the interim dividend, which only rose 8.6% yearly to $0.38, below the broker's estimates of $.04.

The management said the interim dividend payout ratio will no be the full-year target, and its plan to keep on raising dividend has not changed.

The broker lifted the target price of CK Property from $62.2 to $65.9 with rating Outperform, and adjusted the 2016/17/18 EPS by +6.4%/-0.4%/-3.1%.

NAV per share expected to rise to $108.91, due to strong property sales in China and earlier launch of Hong Kong projects.

Source: AAStocks Financial News
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Re: Cheung Kong Property Holdings 1113

Postby winston » Fri Aug 12, 2016 3:45 pm

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<Research Report>BofAML Rates CK PROPERTY (01113.HK) at Buy with Target Lifted to $65

Bank of America Merrill Lynch, in its report, maintained the rating Buy on CK PROPERTY (01113.HK) after its result announcement, with target price lifted 8% to $65, on higher NAV.

The company has decided to pursue steady non-real-estate investment, and has hinted this in March, but this was neglected by some investors.

The broker believed the company has professional knowledge regarding areas outside of real estate, and such investment is to bide time for land price adjustment.

The company also intended to buy back shares, thus underpinning the share price.

Source: AAStocks Financial News
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Re: Cheung Kong Property Holdings 1113

Postby winston » Wed Aug 24, 2016 6:46 am

Cheung Kong puts The Center up for sale as Li Ka-shing trims Hong Kong assets

The 73-storey office building in Central is being offered for sale at a price of HK$35 billion; deep-pocketed mainland Chinese companies bidding

Source: SCMP

http://www.scmp.com/business/china-busi ... -hong-kong
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Re: Cheung Kong Property Holdings 1113

Postby winston » Tue Sep 06, 2016 1:26 pm

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CK PROPERTY Launches Shops at Yuccie Square; To Cash in Over $1.755B if Fully Sold

CK PROPERTY (01113.HK) has recently launched shops at base level of the four residential buildings of Yuccie Square, according to market information.

37 shops have areas of 299-3,494 sq.ft. with the intended prices per sq.ft. ranging $22,000-$37,000.

Entry fee is $300 million.

If fully sold out, over $1.755 billion cash will be raised.

Source: AAStocks Financial News
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Re: Cheung Kong Property Holdings 1113

Postby winston » Thu Oct 27, 2016 12:59 pm

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<Research Report>JPM Expects CK PROPERTY (01113.HK) Continuous Sales of Assets to Favor Share Price

JPMorgan issued a research report, saying that CK PROPERTY (01113.HK) announced the sale of a mainland property, which will help increase its net asset value per share by $3.

The research house believed the property developer will have more asset disposal plans in future.

Under low-rate environment, asset disposal will shore up the share price of the company.

Coupled with valuation lower than peers, the company was kept at Overweight with target of $72.6.

CK PROPERTY announced yesterday the sale of Century Link at $23 billion with a profit of $6.22 billion. The transaction was expected to be completed in 2017-2018.

Source: AAStocks Financial News
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Re: Cheung Kong Property Holdings 1113

Postby behappyalways » Fri Oct 28, 2016 12:52 pm

李嘉誠再減持內地資產
長實擬230億賣滬商廈
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Re: Cheung Kong Property Holdings 1113

Postby winston » Mon Oct 31, 2016 11:56 am

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CK Property Soars 3%: Close To Selling Hong Kong Center For Record $4.5B

By Shuli Ren

Cheung Kong Property (1113.Hong Kong) soared 3.1%, the biggest winner on the benchmark Hang Seng Index today, after local media reported that CK Property was close to selling an office building in Hong Kong’s central business district.

Hong Kong-based Economic Journal reported that CK Property is close to selling 75% of its stake in The Center for 35.7 billion Hong Kong dollars ($4.58 billion) to investors from mainland China.

If CK Property could seal this deal, it would create a new record.

Late last year, China’s Evergrande Real Estate bought Mass Mutual Tower in Hong Kong’s Wanchai area for HK$12.5 billion ($1.6 billion).

The Center has better location than Mass Mutual Tower. It’s the fifth tallest skyscraper in Hong Kong and is close to many restaurants and other entertainment facilities.

Source: Barron's Asia

http://blogs.barrons.com/asiastocks/201 ... cord-4-5b/
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Re: Cheung Kong Property Holdings 1113

Postby winston » Mon Oct 31, 2016 1:46 pm

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Oct 28, 2016

<Research Report>Daiwa Raises CK PROPERTY (01113.HK) Target to $75.6; Kept Buy

Daiwa, in its report, said earlier, CK PROPERTY (01113.HK) announced plans to sell its Century Link Complex in Pudong, Shanghai for RMB20 billion.

Daiwa estimated that the sales price would give a gross rental yield of about 4%, which is attractive to the broker, thus reiterated Buy with target price lifted from $71 to $75.6, based on a 30% discount applied to end-2017 NAV estimate.

The deal would bring HK$6.22 billion of profits to CK PROPERTY to be recognised in FY17 or FY18, depending on the timing of full completion of the deal.

Daiwa suggested that CK PROPERTY is lly to defer the profit recognition for some of its upcoming property sales projects, thus the broker maintained its EPS forecasts at this stage.

Source: AAStocks Financial News
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Re: Cheung Kong Property Holdings 1113

Postby behappyalways » Tue Nov 01, 2016 11:33 am

傳長實357億向中資售中環中心
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