CK Asset (former Cheung Kong Property) 1113

Re: Cheung Kong Property Holdings 1113

Postby winston » Wed Apr 06, 2016 1:09 pm

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<Research Report>G Sachs: Bullish on CK PROPERTY's Higher Recurring Income, Active Capital Management

Goldman Sachs, in its report, considered CK PROPERTY (01113.HK)'s repurchase of shares at $632 million provides potential support for the share price, registering the beginning of active asset management of the company.

With low leverage amid continued strong cash flow from property sales and recurring income, the research house believed the company's balance sheet has sufficient capacity to support its mergers and acquisitions and asset management measures, including repurchase and dividend increase.

With the support of ex-Hutchison Group assets, in addition to positive adjustment of rental of its core offices, Goldman Sachs was of the view that CK PROPERTY will have higher recurring income in 2016E of $2.09/share, up 39.3% year on year.

The research house considered that CK PROPERTY, after posting a nearly record high of $56 billion contracted sales from last year, will have contracted sales of $43 billion this year, which was believed to generate net cash for CK PROPERTY.

The research house also commented that FORTUNE REIT (00778.HK), of which 28% interest is held by CK PROPERTY, will enable higher flexibility for CK PROPERTY when considering asset injections. The research house maintained CK PROPERTY at Buy with target price of $70.

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

Postby winston » Tue May 24, 2016 1:06 pm

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CK PROPERTY Buys Back $29.2M Shares Yesterday

CK PROPERTY (01113.HK) disclosed that the company has repurchased 0.6455 million shares with $29.2 million yesterday (23 May), representing 0.0168% of issued share capital.

The shares ranged from $45.15 to $45.3.

The real estate developer repurchased 11.525 million and 2.01 million shares on 18 March and 21 March 2016 earlier, which involved a total of $632 million.

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

Postby winston » Thu Jun 02, 2016 6:26 am

CK Prop posts $10b sales

by Dominique Nguy

Cheung Kong Property (1113) has so far sold HK$10 billion worth of flats in Hong Kong and in the mainland, with mainland sales accounting for HK$7 billion, executive director Justin Chiu Kwok-hung said yesterday.

He expressed confidence that mainland sales will reach the HK$10 billion target.

CKP has so far sold only HK$3 billion worth of flats in Hong Kong as its local sales target has been adversely affected by slow progress in acquiring pre-sale consent for its projects, he said.

The company aims to launch 3,000 flats to the market this year and it has set a local sales target of between HK$20 billion and HK$30 billion.

Chiu said home prices have already dropped by 10 percent from last year. He predicts home prices this year is unlikely to dip more than 10 percent. With demand from Hongkongers still solid, more buyers are expected to enter the market once it stabilizes, he said.

CKP has launched summer promotions to boost interest in its Harbourfront Horizon Suites and Harbourview Horizon Suites serviced apartment projects in Hung Hom.

It is is offering a promotional rate to customers who will rent apartments for six to 12 months and a 4 percent rebate to clients who will make a one-time payment for 12 months' rent.

Chiu said CKP's four serviced apartment projects in Hong Kong provide a total of 4,833 suites and it targets long- term tenants. Last year, CKP's serviced apartments generated total rental income of around HK$950 million.

The group's serviced apartments have not been adversely affected by volatility in the home market. More people have decided to rent out flats and more and more are taking a wait-and-see stance, said Chiu.

He expects CKP's rental income this year to exceed HK$1 billion.


Source: The Standardd
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Re: Cheung Kong Property Holdings 1113

Postby winston » Thu Jul 07, 2016 8:34 am

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CK PROPERTY 1H16 Sales at RMB7.5B in China

William Kwok Tsz-wai, director at CK PROPERTY (01113.HK) 0.000 (0.000%) Short selling $22.46M; Ratio 11.440% , said in the first half of 2016, the company has achieved sales of RMB7.5 billion in mainland China, representing a significant rise compared to over RMB3 billion a year ago.

Kwok said he is bullish on the real estate market in Beijing and Shanghai.

As RMB devaluation continues, there is a long-term investment demand for capital.

He expected the property prices in Shanghai will rise 5% more in 2H16, and rise about 10% for full year of 2016.

As for Beijing, the rise in 2016 will be about 10-15%.

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

Postby winston » Mon Aug 08, 2016 12:53 pm

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<Research Report>BofAML Raises CK PROPERTY Target to $61; Expects Interim Core Profit $6.1B

Bank of America Merrill Lynch, in its report, maintained CK PROPERTY (01113.HK) at Buy, mainly attributed to its current 47% discount to NAV, which meant the assets value outside Hong Kong has not yet been fully factored in.

The research house lifted the target price to $61 from $60.

The research house said given lack of new property launch, the developer was expected to post sales of only $3.3 billion in 1H16, plunging from $21 billion in a year-ago period.

However, with China's sales up 100% yearly to RMB18 billion, the group FY2016 contracted sales target of $40 billion was expected to be achieved.

Bank of America Merrill Lynch predicted the interim core profit to be $6.094 billion, up 10% yearly; core profit per share equaled $1.58 with estimated dividend $0.385 per share (up 10% yearly).

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

Postby winston » Tue Aug 09, 2016 9:18 am

<Research Report>Ratings & Target Prices on CK PROPERTY (Table)

CK PROPERTY (01113.HK) will announce interim results this Thursday (11 August).

Two brokers predicted the core net profit excluding revaluation on investment properties in 1H16 to range $6.094-8.032 billion, up 10-45% yearly from $5.536 billion in the year-ago period.

12 brokers' ratings and target prices are listed as follows:

Brokers/ Ratings/ Target prices (HK$)

HSBC/Buy/78
JP Morgan/Overweight/72.6
Daiwa/Buy/71
UBS/Buy/70.07
Goldman Sachs/Buy(Conviction Buy)/70
Macquarie/Outperform/66.34
Credit Suisse/Outperform/62.2
Bank of America Merrill Lynch/Buy/61
Morgan Stanley/Overweight/61
Citigroup/Buy/59.6
Deutsche Bank/Buy/53.5

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

Postby winston » Tue Aug 09, 2016 12:07 pm

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<Research Report>JPM Expects CK PROPERTY 1H Underlying Profit Up 35%; Interim Div Rises to 45 Cents

JPMorgan, in its report, expected the 1H underlying profit of CK PROPERTY (01113.HK) to rise 35% yearly to $7.5 billion, mainly driven by the contribution from the previous Hutch?s stake in China property and Hong Kong rental income.

The broker expected the company's interim dividend to increase from $0.35 to $0.45 in 1H16.

With a 37% dividend payout assumption, CK Property is yielding about 3.2% which is in line with SHK PPT (00016.HK).

The increasing valuation of FORTUNE REIT (00778.HK) is providing a golden opportunity for acquisition. CKP might inject some of the commercial properties into Fortune, and the broker identified nine properties within CKP's portfolio which are suitable for such injection.

The REIT currently has debt headroom before breaching the 45% gearing cap. JPMorgan believed it is now an appropriate timing to consider equity issuance to fund the acquisition.

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

Postby winston » Thu Aug 11, 2016 3:32 pm

<Research Report>Ratings & Target Prices on CK PROPERTY (Table) (Update)

CK PROPERTY (01113.HK) will announce interim results today (11 August).

4 brokers predicted the core net profit excluding revaluation on investment properties in 1H16 to range $6.094-8.032 billion, up 10-45% yearly. Median was $6.8355 billion, up 23.5% yearly.

12 brokers' ratings and target prices are listed as follows:

Brokers/ Ratings/ Target prices (HK$)

HSBC/Buy/78
JP Morgan/Overweight/72.6
Daiwa/Buy/71
UBS/Buy/70.07
Goldman Sachs/Buy(Conviction Buy)/70
Macquarie/Outperform/66.34
Credit Suisse/Outperform/62.2
Bank of America Merrill Lynch/Buy/61
Morgan Stanley/Overweight/61
Citigroup/Buy/59.6
DBS Vickers/Buy/56.9
Deutsche Bank/Buy/53.5

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

Postby winston » Fri Aug 12, 2016 9:10 am

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<Blue Chip Result>CK PROPERTY Half Year Net Profit Up 24.91% to $8.606B; Interim Div $0.38

CK PROPERTY (01113.HK) announced the interim result of 2016.

During the period, the net profit rose 24.91% 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 upper limit of the market expectation (brokers' estimates covered on AASTOCKS.com from $6.094-8.032 billion).

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

Postby behappyalways » Fri Aug 12, 2016 2:21 pm

Cheung Kong’s Victor Li Says Open to Sale of City Buildings
http://www.bloomberg.com/news/articles/ ... -buildings
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