CK Asset (former Cheung Kong Property) 1113

Re: Cheung Kong Property Holdings 1113

Postby winston » Fri Nov 11, 2016 12:04 pm

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CK PROPERTY Pays 15% Stamp Duty for Some Buyers of The Zumurud

Last week, the government lifted the ad valorem stamp duty (AVD) on property transactions for non-first-time buyers uniformly to 15%.

The Zumurud, the project jointly developed by CK PROPERTY (01113.HK) and Empire Group, had made corresponding measures.

The developers provided further discount by paying the 15% AVD for the buyers directly, with the home price and discount unchanged.

If the buyer does not need the developers to pay any AVD, the buyers can get 15% rebates of the total transaction amount.

Such promotions will be effective next Monday (14 November).

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

Postby winston » Tue Nov 29, 2016 2:12 pm

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Justin Chiu: CK PROPERTY Can Hardly Achieve Home Sales Target in HK This Year

Justin Chiu, executive director of CK PROPERTY (01113.HK), who was interviewed after the forum, said that the group has not yet received approval from the authorities, hence the remaining saleable inventories of the group only amount to about 300 units, the least among major property developers.

He also expected the group cannot achieve the sales target of 3,000 units set at early this year; but in China, sales were more than RMB50 billion.

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

Postby winston » Sat Dec 03, 2016 7:37 am

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Cheung Kong to pay HK$7.6b for CK Hutchison’s aircraft leasing business

Developer plans to purchase CK Capital, which owns a fleet of 43 planes


For a month, the developer will absorb a 15 per cent stamp duty for second-home buyers at The Zumurud luxury apartments
Cheung Kong offers a tax salve to attract buyers back to Hong Kong’s property market

After this disposal, CK Property owns at least six more commercial buildings on the mainland, each valued at more than 1 billion yuan, according to the Post’s calculations

Li Ka-shing sells Shanghai complex for US$2.95 billion while yuan takes a tumble

Cheung Kong Property Holdings, controlled by Asia’s second richest man Li Ka-shing, has agreed to pay HK$7.6 billion to buy an aircraft leasing unit from CK Hutchison, another firm owned by Li, as the property giant looks to expand into new business areas.

The developer plans to purchase CK Capital, which owns a fleet of 43 planes and the transaction is expected to be completed within two months.

The buyout was part of the efforts made by the real estate tycoon to scout for new business opportunities given the challenges it faced in identifying investments with reasonable returns on the current cyclical stage in the property market.

During the second half of the year, Cheung Kong Property has already purchased or agreed to purchase a total of 36 aircraft, which included 30 Airbus narrow body passenger aircraft and six Boeing narrow body passenger aircraft.


Source: SCMP

http://www.scmp.com/business/companies/ ... ft-leasing
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Re: Cheung Kong Property Holdings 1113

Postby winston » Mon Dec 12, 2016 9:59 am

CK PROPERTY(1113)

Analysis:

In 1H2016, CK Property`s revenue has increased 45% to HK$27.56Bn, which property development segment contributes about 77% of it.

Net profit increased 25% to HK$8.61Bn.

CK Property has strong operating cash flow. In 1H2016, the operating cashflow was HK$16.7Bn and the current ratio was 5.5x.

However, total debt only contributes to 18% of the total capital employed.

CK Property has several property development projects, which will be completed in 2H2016.

Moreover, CK Property announced that they will acquire CKH Holdings`s aircraft leasing business, which has 65 aircrafts in total. These are expected to expand the revenue sources of the company.

CK Property has recently launched share repurchase and this is expected to bring support to the stock price.

Strategy:
Buy-in Price: $52.50, Target Price: $56.10, Cut Loss Price: $50.15

Source: Phillips
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Re: Cheung Kong Property Holdings 1113

Postby winston » Mon Dec 19, 2016 2:29 pm

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Chiu Kwok-hung: Home Sales of CK PROPERTY May Hit Record High

Attending an opening ceremony, CK PROPERTY (01113.HK) executive director Chiu Kwok-hung said the group sold more shop and car spaces (worth a total of about $3 billion), as residential flat sales require pre-sale consent.

The projects waiting for approvals this year should get approvals early next year, so Chiu expected the overall home sales to rise, and may even break the group's record.

Chiu expected that the rate hike pace in the US will not be too fast next year, projecting 1-2 rate hike(s).

Also, he expected the Hong Kong home market to remain steady next year, with a price fluctuating range of about 10%.

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

Postby winston » Mon Jan 16, 2017 2:00 pm

<Research Report>JPM Expects CK PROPERTY Acquisition May Put Pressure on Share Price; May Buy on Dips

JP Morgan, in its report, said CK PROPERTY(01113.HK), CKI HOLDINGS(01038.HK) and POWER ASSETS(00006.HK) jointly announced that they acquired the Australia-listed DUET Group through forming a consortium.

If the transaction is approved by the independent shareholders of CKI HOLDINGS and POWER ASSETS, the three parties will hold 40%, 40% and 20% of the equity interest of the consortium respectively.

The maximum consideration may reach AUD7.53 billion (over HK$40 billion). The research house said that the acquisition may cast selling pressure on the near-term share price of CK PROPERTY, yet offer an entry point for the stock.

Although JP Morgan has long not regarded CK PROPERTY as a pure real estate company, but an integrated enterprise with sustained and stable profitability, CK PROPERTY' share price is seemingly too low.

The research house maintained CK PROPERTY at Overweight with a target price of $59.6, and estimated that its major shareholder, Li Ka-shing, will be interested in increasing his stake by repurchasing his own shares through the company.

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

Postby winston » Wed Jan 25, 2017 7:18 am

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CK Property buys back own shares

by Esther Yu

Cheung Kong Property (1113) bought HK$1.22 billion worth of its own shares last week and analysts say the company may further resort to shares buybacks after it announces its annual results in March.

As of January 20, the firm has undertaken buybacks for five days in a row at an average price of HK$51.17 for 23.8 million shares.

It has now entered a blackout period which bars it from buying or selling its shares ahead of its upcoming annual results announcement.

While the buybacks will stop for now, market watchers believe they are "highly likely" to continue after it announces its annual results.

CK Property yesterday closed 0.2 percent lower at HK$50.35.

Meanwhile, Australia's new infrastructure oversight body is fueling concerns Cheung Kong Infrastructure Holdings' US$5.5 billion (HK$42.9 billion) bid for DUET Group will be blocked or modified, pushing shares in the energy firm lower.

Australia on Monday announced the formation of the Critical Infrastructure Center, which will check whether foreign-led bids for key assets, including power grids and ports, pose any national security risks.

Three investment bankers with experience in the infrastructure sector said they believed the new body increased the prospect the DUET deal was unlikely to be given the green light from the Australian government in its current form.

They said that at a minimum, local ownership requirements were likely to be imposed on some of the assets.

"People do feel a bit nationalistic about this type of thing," Morningstar analyst Adrian Atkins said.

Source: The Standard

http://www.thestandard.com.hk/section-n ... 0125&sid=2
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Re: Cheung Kong Property Holdings 1113

Postby winston » Tue Mar 21, 2017 3:37 pm

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<Research Report>G Sachs Expects CK PROPERTY (01113.HK) 2016 Underlying Profit Up 9% to $17B

Goldman Sachs, in its report, said the 2016 results of CK PROPERTY (01113.HK) will be announced tomorrow (22 March).

The broker projected 5.8% revenue growth, 9% underlying profit to $17 billion and a 10.7% DPS hike to $1.55, implying 35% payout on underlying profit.

The broker reiterated CL-Buy with target price of $73.2, based on 25% discount to FY17 NAV (estimate).

Goldman Sachs expected consolidated development profit to fall 2.2% yearly in 2016; consolidated rental income growing 54.4% due to continuing strength in its HK central office portfolio.

Key focus should be further disclosure on the pending Duet Group acquisition; discussion on opportunities for investment property securitization; guidance on upcoming launches in HK and China; and guidance on dividend payout and potential share buyback in FY17.

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

Postby winston » Wed Apr 26, 2017 10:49 am

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<Research Report>JPM: Prefers CK PROPERTY Share Buyback Than Land Purchase; Expects Re-rating from Market

JP Morgan, in its report, said that CK PROPERTY (01113.HK) was the only developer that has conducted meaningful and continuous share repurchases, which led to its recent outperformance than peers.

With intensive competition among Hong Kong developers, it is believed that CK PROPERTY will adopt more active capital management which should be appreciated by the market.

Since cap rates are not going to remain at a low level, the real estate developer will monetize its assets.

Being the cheapest large-cap developer in Hong Kong, CK PROPERTY is trading at 52% discount to NAV, which is expected to be re-rated by market due to capital allocation.

The rating was kept at Overweight and the target price was $65.

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

Postby winston » Thu May 04, 2017 3:37 pm

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<Research Report>Nomura Lifts CK PROPERTY Target to $65.3; Sees At Least 3 Catalysts This Month

Nomura, in its report, said CK PROPERTY (01113.HK) has at least three catalysts this month, enabling it to catch up peers in terms of share price.

The stock is now trading at a 54% discount to the broker's FY17 NAV estimate. Kept at Buy, the broker lifted the share price from $63.4 to $65.3.

The broker said Murray Road site tender result, which will be announced mid-May, will benefit the company.

Ocean Pride, the company's new project in Tsuen Wan, will be the largest launch in 2Q17 with 42% profit margin.

The DUET acquisition has obtained approvals and should be concluded later this month, enhancing FY18 EPS (estimate) by 4%.

Source: AAStocks Financial News
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