CK Asset (former Cheung Kong Property) 1113

Re: Cheung Kong Property Holdings 1113

Postby winston » Tue May 16, 2017 8:28 pm

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Cheung Kong Property Price Target Lifted 9%: Offers 15% Upside

By Robert Guy

Brokerage CIMB has lifted its price target on Hong Kong's Cheung Kong Property Holdings (1113.HK) by 9% after the acquisition of Australian utility DUET.

The acquisition of a 40% stake in Duet, combined with other previous acquisitions like aircraft leasing, could lift recurring income from HKD8.6 billion in 2016 to between HKD10 billion to HKD12 billion for the 2017 to 2019 financial years.

Cheung Kong Property's share price has been supported by a buyback. The company has bought HKD5 billion of stock year-to-date, which accounts for around a third of daily trading volume.

We revise up our FY17-19F core profit by 4.5-9.8% after factoring in Duet’s contribution and the share buyback YTD.

We raise our TP to HK$66 with a narrower discount to NAV of 40% (45% previously) to reflect the better sentiment in the Central office market.

CKP is currently trading at a 48% discount to NAV, which is attractive, in our view.


Source: Barron's Asia

http://www.barrons.com/articles/cheung- ... 1494921151
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Re: Cheung Kong Property Holdings 1113

Postby winston » Thu Jun 15, 2017 11:37 am

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<Research Report>M Stanley: CK PROPERTY Most Preferred Pick among Local Developers; Rated Overweight

Morgan Stanley, in its report, said CK PROPERTY (01113.HK) (CKP) is its most preferred pick among local developers, as CKP offers about 40% EPS growth, the highest capital return, and re-rating potential.

The broker's base case target price $73 was based on 25% discount to NAV $98, maintaining at Overweight. The broker's bull case target price is $112.

The broker said CKP's dividend and buyback in 2016 translate into a 5.5% yield, highest among Hong Kong property stocks (higher than NEW WORLD DEV (000017.HK) and KERRY PPT (00683.HK) - both 4%; SINO LAND (00083.HK) - 3.7%; HANG LUNG PPT (00101.HK) - 3.6% and SHK PPT (00016.HK) - 3.2%). DPS and buybacks could grow 10% per annum between 2016 and 2019, the broker suggested.

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

Postby winston » Mon Jul 17, 2017 10:51 am

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Cheung Kong Property Plans Name Change to Cheung Kong Asset
By Daniel Shane

What’s in a name? A lot, according to Li Ka-shing’s Cheung Kong Property (1113.HK).

The property developer, spun off from the Hong Kong tycoon’s Cheung Kong conglomerate in 2015, announced it plans to change its name to Cheung Kong Asset.

That comes as CK Property has increasingly diversified away from its main business of building flats for Hong Kongers into areas including aircraft leasing and infrastructure.

Last year CK Property paid almost HK8 billion to acquire an aircraft leasing business from CK Hutchison (1.HK), another company controlled by Li.

The company also took part in the joint acquisition of Australian utility Duet alongside another two Li businesses for USD5.6 billion.

In a statement to the Hong Kong bourse CK Property said the name change was subject to shareholder approval.

Meanwhile, the company announced that it was offloading 25% of its stake in a Canadian home services company to affiliate Cheung Kong Infrastructure (1038.HK) for USD565 million.

Shares in CK Property are up 30% year-to-date as sky-high prices in the Hong Kong property market show little sign of soothing

Source: Barron's Asia

http://www.barrons.com/articles/cheung- ... 1500256989
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Re: Cheung Kong Property Holdings 1113

Postby winston » Fri Aug 04, 2017 2:07 pm

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


CK PROPERTY (01113.HK) announced the result for the six months ended 30 June 2017.

During the period, net profit amounted to $14.41 billion, representing a yearly increase of 67.44%; EPS amounted to $3.82.

Interim dividend of $0.42 was declared.

During the period, profit before investment property revaluation rose 13.7% to $9.48 billion, better than 4 brokers' estimate ($8.525 billion to $9.213 billion).

The share price of CK PROPERTY fared well this morning.

13 brokers updated their ratings and target prices:

Brokers/ Ratings/ Target prices ($)

HSBC Global Research/ Buy/ 78->79
Goldman Sachs/ Buy (CL-Buy)/ 76.1->77.9
Nomura/ Buy/ 65.3->76.6
Daiwa/ Buy/ 75.6
Credit Suisse/ Neutral->Outperform/ 54->75.3
UBS/ Buy/ 69.69->74
Morgan Stanley/ Overweight/ 73
JPMorgan/ Overweight/ 72.7
Bank of America Merrill Lynch/ Neutral/ 64->71
UOB Kay Hian/ Buy/ 70.28
Deutsche Bank/ Buy/ 66.1->68.6
Citigroup/ Neutral/ 61->66.8


Source; AAStocks Financial News
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Re: CK Asset (former Cheung Kong Property) 1113

Postby winston » Wed Apr 18, 2018 1:48 pm

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Apr 17, 2018

Li Ka-shing, Li Tzar-kuoi Add Stake in CK ASSET with Over $600M

CK ASSET (01113.HK)'s Chairman Li Ka-shing and Li Tzar-kuoi together declared that they increased 2.206 million, 3.281 million, 2.775 million and 950,500 shares (9.2125 million shares in total) during 10-13 April, according to the information of the Stock Exchange, involving approximately $610 million.

Source: AAStocks Financial News
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Re: CK Asset (former Cheung Kong Property) 1113

Postby winston » Wed Apr 18, 2018 1:51 pm

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March 20, 2018

<Research Report>C Suisse Raises CK ASSET (01113.HK) Target to $82.4; Rated Outperform

Credit Suisse in a research report said that CK ASSET (01113.HK)'s 2017 underlying profit amounted to $20.32 billion, up 13% year on year, with the EPS growth of 16% due to share buyback.

CK ASSET's target price was lifted from $81.9 to $82.4, with the rating maintained at Outperform.

Source: AAStocks Financial News
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Re: CK Asset (former Cheung Kong Property) 1113

Postby winston » Wed Apr 18, 2018 1:53 pm

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March 19, 2018

<Research Report>Citi Lifts CK ASSET (01113.HK) Target to $73.7; 2018E Sales Growth to Ease

Citigroup mentioned in its report that CK ASSET (01113.HK)'s 2017 core EPS equaled HK$5.44, up 16% yearly and higher than the estimates.

The 2017 contracted sales amounted to $55 billion.

However, the broker expected a slower sales in 2018 due to the decrease of salable resources.

CK ASSET was rated Neutral at the target price of $73.7, up from $73.1.

Source: AAStocks Financial News
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Re: CK Asset (former Cheung Kong Property) 1113

Postby winston » Wed Apr 18, 2018 1:55 pm

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March 19, 2018

<Post-Result>Brokers' Latest Ratings, TPs on CK ASSET (01113.HK) (Table)

Brokers?Ratings?Target prices (HK$)
Nomura?Buy?88.7->87.1
Daiwa?Buy?85.2
UBS?Buy?83.8->84.75
HSBC Global Research?Buy?82.9
Credit Suisse?Outperform?81.9->82.4
Goldman Sachs?Neutral?80.5->82.4
Deutsche Bank?Buy?79.5->82
Morgan Stanley?Overweight?81
JP Morgan?Overweight?77
Bank of America Merrill Lynch?Neutral?77

Source: AAStocks Financial News
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Re: CK Asset (former Cheung Kong Property) 1113

Postby winston » Wed Apr 18, 2018 1:56 pm

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19 Mar, 2018

<Research Report>M Stanley: CK ASSET (01113.HK) 2017 Results In Line; 2018 Profit Growth Resilient

Morgan Stanley mentioned in its report that CK ASSET (01113.HK)'s EPS and DPS yearly growth of 16% to $5.4 and 11% to $1.7 were in-line with its expectation.

The broker also foresaw resilient profit gain and potential growth from the disposal of Century Link and The Center and expansion of the fleet.

CK ASSET was maintained at Overweight at the target price of $81.

Source: AAStocks Financial News
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Re: CK Asset (former Cheung Kong Property) 1113

Postby winston » Thu Apr 19, 2018 8:15 am

Li Ka-shing raises CK Asset stake to 31.72pc

Li Ka-shing has spent HK$740 million on buying shares in his companies.

Billionaire Li Ka-shing who has continued to buy shares in CK Asset Holdings (1113) for two straight days this week, has raised his stake in the company to 31.72 percent through the Li Ka Shing Foundation.

Li started buying CK Asset shares on Monday, and continued yesterday, buying 1.95 million shares in total, at an average price of HK$66.63 per share. He bought shares worth HK$130 million.

He has already spent HK$610 million to snap up 9.21 million shares in CK Asset last week, from April 10 to April 13. So far, the city’s wealthiest man has spent about HK$740 million on the trades.

Source: The Standard

http://www.thestandard.com.hk/breaking- ... 0418&sid=2
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