CK Asset (former Cheung Kong Property) 1113

Re: Cheung Kong Property Holdings 1113

Postby winston » Wed Aug 26, 2015 5:06 pm

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<Research Report>Citi Maintains CK PROPERTY(01113.HK) at Buy with Target Cut to $81.6

Citigroup said in a report that CK PROPERTY(01113.HK)'s valuation is attractive with three positive catalysts including
1. upside potential from asset enhancement which is mainly from redevelopment or disposals of the old Hutch IP portfolio, such as Hutchison House, Whampoa shopping mall and Aberdeen Centre;
2. China property sales rebounding; and
3. continuous strong launch property sales in Hong Kong.

Nevertheless, CK Property's rating was kept unchanged at Buy.

The target price was cut from $83.3 to $81.6.

Source: AAStocks Financial News
Web Site: www.aastocks.co
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Re: Cheung Kong Property Holdings 1113

Postby winston » Wed Aug 26, 2015 5:08 pm

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<Research Report>BofA Merrill Lynch Maintains CK PROPERTY(01113.HK) at Buy with Target Cut to $76

BofA Merrill Lynch, in its report, said that while it is difficult to evaluate CK PROPERTY(01113.HK)'s 1H15 performance, its solid China contracted sales complemented its solid Hong Kong performance YTD.

The research house maintained the stock at Buy given its attractive valuation (46% discount to NAV), a low cost landbank that provides cushion for a downturn and reasonable leverage to take advantage of land acquisition opportunities.

The target price was cut to $76 from $80.

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

Postby winston » Tue Jan 12, 2016 6:33 am

Developer cashes in

Cheung Kong Property (1113) cashed in 3.5 billion yuan (HK$4.13 billion) from property sales in Beijing and Shanghai last year and said revenue will more than double this year.

But its shares dropped 3.63 percent to HK$46.50 yesterday.

The developer controlled by tycoon Li Ka-shing sold 500 units, mainly villas, at its two projects in Beijing and Shanghai, bringing in 2 billion yuan and 1.5 billion yuan a five-year high.

The company will roll out at least 1,000 units in the two cities this year, targeting revenue of more than 7 billion yuan, real estate investment director William Kwok Tsz-wai said.

The market will be supported by a 6.5 percent economic growth rate, estimated cuts in interest rates and reserve ratio and devaluing yuan, Kwok said, adding there would not be a repeat of the 20 percent price hike in Shenzhen for other cities.

Home prices in Shanghai are expected to rise 10 percent this year and remain stable in Beijing, Kwok said.

Source: The Standard
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Re: Cheung Kong Property Holdings 1113

Postby winston » Wed Jan 27, 2016 7:06 pm

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G Sachs Cuts CK PROPERTY (01113.HK) Target to $70; Rated Buy

Goldman Sachs, in its report, lifted CK PROPERTY (01113.HK) +0.300 (+0.772%) Short selling $82.86M; Ratio 24.782% 's EPS forecast in 2015 by 4.1% but lowered that in 2016/17 by 0.1% and 1.5% respectively in order to reflect the group's latest development.

The overall investment theme remained unchanged but the target price was trimmed from $72.5 to $70, with a rating of Buy.

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

Postby winston » Mon Feb 15, 2016 11:49 am

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CK PROPERTY to Launch 7 New Projects This Year; Expects Sales to Reach About $25-30B

Justin Chiu, executive director of CK PROPERTY (01113.HK), said the group will focus on developing properties in medium size, serving flat-for-flat purpose and luxury in nature in view of nearly saturated market of low-priced properties.

He expected the group to launch 7 new properties this year with a saleable area of around 3-4 million sq.ft. and value of $25-30 billion.

Mr. Chiu said he remains a forecast of +/- 10% in this year's property prices. He believed the near-term downward adjustment of rents in the second-hand market is attributable to relatively more properties with occupancy during the same period.

Yet, he anticipated that to remain steady in long term and rents in regions with more new properties to drop due to oversupply. He foresaw the first-hand market to continue outperforming the second-hand market this year.

On the other hand, he said residential market will slack this year compared to last year and the group is not ruling out the possibility of disposing its non-core properties, such as shopping centers and Grade B office premises.

He anticipated the low interest rate environment in Hong Kong to sustain, which provides more good buying opportunities for its subsidiaries FORTUNE REIT (00778.HK) and PROSPERITY REIT (00808.HK).

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

Postby winston » Thu Mar 17, 2016 4:56 pm

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DIVIDEND

The Directors recommend the payment of a final dividend of HK$1.05 per share in respect of 2015 to shareholders whose names appear on the Register of Members of the Company at the close of business on Thursday, 19 May 2016.

This together with the interim dividend of HK$0.35 per share paid on 6 October 2015 gives a total of HK$1.40 per share for the year.

The proposed final dividend will be paid on Wednesday, 1 June 2016 following approval at the 2016 Annual General Meeting.

http://www.hkexnews.hk/listedco/listcon ... 317199.pdf
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Re: Cheung Kong Property Holdings 1113

Postby winston » Fri Mar 18, 2016 7:09 am

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CK Property posted stable profit last year, with earnings per share at HK$4.43.

It proposed a final dividend of HK$1.05 per share, bringing the total to HK$1.40.

Profit from property sales surged 83 percent to HK$15.52 billion last year.

Revenue from property rental rose 1.2 times to HK$4.513 billion, while revenue from hotels and serviced suites rose 39 percent to HK$4.005 billion.

The elder Li said CK Property will be cautious in acquiring land. "Developers are not in a hurry to sell off their stock," he said, adding "from what I know they are in good shape financially."

Source" The Standard
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Re: Cheung Kong Property Holdings 1113

Postby winston » Fri Mar 18, 2016 12:55 pm

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<Research Report>BofAML Cuts CK PROPERTY (01113.HK) Target to $62; Rated Buy

Bank of America Merrill Lynch stated that CK PROPERTY (01113.HK)'s FY15 results highlighted its strong contracted sales, HoH margin recovery and the $15.6 billion core earnings, which were higher than the broker's expectations by 21%. That was mainly driven by more bookings in China.

However, the broker believed that the investors may be disappointed that management remained non-committal regarding more capital management actions to unlock value, and is awaiting land replenishment opportunities.

The broker believed the company's valuation is attractive and maintained CK PROPERTY at Buy. Its target price was lowered to $62 from $64.

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

Postby winston » Mon Mar 21, 2016 11:50 am

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Cheung Kong Property Rises to Two-Month High After Share Buyback

by Frederik Balfour

Source: Bloomberg

Developer buys 0.3% of outstanding shares for HK$536 million

Company trades at 50% discount to asset value, analyst says

http://www.bloomberg.com/news/articles/ ... re-buyback
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Re: Cheung Kong Property Holdings 1113

Postby winston » Tue Mar 22, 2016 3:15 pm

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<Research Report>G Sachs: CK PROPERTY Repurchases Shares First Time after Results Announcement; Reiterated Buy

According to HKEX disclosure, CK PROPERTY (01113.HK) repurchased 11.525 million shares at an average price of $46.52 per share on 18 March in an amount of $536 million.

Goldman Sachs reiterated the company at Buy, with a target price maintained at $70.

The target price was set at 25% discount to $92.93 2016 NAV.

This is the first ever share buyback conducted by the Cheung Kong group. In the past decades, only major shareholders of Cheung Kong raised stakes.

In the results analyst briefing, the company's management said that they are open to initiatives in capital management, as long as such initiatives could enhance shareholders' value.

The broker views the share buyback as an attempt by the management to signal that current valuation is appealing and is in line with the above guidance.

This buyback could be the beginning of a more active capital management by the company.

Source: AAStocks Financial News
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