Future Land (1030)

[winston]

vested

July 5, 2019

<Research Report>Nomura Downgrades FUTURE LAND (01030.HK) to Neutral with Target Cut to $7.5

Nomura downgraded FUTURE LAND (01030.HK) from Buy to Neutral, with target cut from $12 to $7.5 (-38%).

The downgrade was based on uncertainty from recent change of Chairman, which has brought no immediate negative impact yet.

However, the broker doubted FUTURE LAND's ability to maintain a high sales growth and land cost advantage.

As reputation and credibility are of paramount importance to securing financing and new landbank, FUTURE LAND will need some time to repair its reputational damage.

Source: AAStocks Financial News

[winston]

not vested

Lawyer calls for probe and class-action suit into Seazen's disclosure

Source: SCMP

https://www.scmp.com/business/companies ... disclosure

[winston]

not vested

Wang Zhenhua formally charged in child sexual abuse case

Rape = 5 to 10 years in jail
Molestation: maximum 5 years

Source: SCMP

https://www.scmp.com/news/china/society ... xual-abuse

[winston]

not vested

Joseph Lau buys into scandal-hit Future Land

by Tereza Cai

Billionaire Joseph Lau Luen Hung is said to be buying into Future Land (1030), whose price has slumped after controlling shareholder and former chairman Wang Zhenhua was arrested for child molestation.

Fair Eagle Securities, under Lau, bought 11.99 million shares of Future Land after it plunged by over 15 percent on July 4 below narrowing the decline to 10.57 percent and closing at HK$7.19 and then bought a further 3.68 million shares on July 5.

Future Land (1030) fell 0.14 percent to HK$7.02 yesterday, down 33.52 percent as compared with July 2 before the scandal broke.

Source: The Standard

http://www.thestandard.com.hk/section-n ... 0712&sid=2