Hongkong Land

Hongkong Land reports higher underlying profit for 3QFY2024 on greater build-to-sell completions  - THE EDGE SINGAPORE

Results

Hongkong Land reports higher underlying profit for 3QFY2024 on greater build-to-sell completions

In the group’s investment property segment, Hongkong Land’s central office portfolio vacancy stood at 7.6%, compared to 12.2% for the overall central district grade A office market.

Broker's Calls

Hongkong Land’s new strategy is positive for the long term but near-term earnings will remain volatile, says Morningstar

Shares in Hongkong Land closed 4 US cents lower or 0.84% down at US$4.75 on Nov 7.

Global Economy

Briefs: MAS appoints ex-MD Ravi Menon as chairman of new fintech group; Hongkong Land unveils new strategy

In other news, FHT says the risk of the potential loss of its MIT status has always been present and that the loss of status was beyond its control.

Broker's Calls

UOL, Hongkong Land, Guoco, Ho Bee stand to gain from portfolio restructuring amidst lower interest rate environment: DBS

DBS states that developers restructuring their investment property portfolio could unlock significant value.
Analysts cut TPs on Hongkong Land, highlight attractive valuation for investors willing to look beyond industry downturn - THE EDGE SINGAPORE

Broker's Calls

Analysts cut TPs on Hongkong Land, highlight attractive valuation for investors willing to look beyond industry downturn

All eyes are currently on the strategic review which is expected to be completed before end-2024.

Results

Provisions in China Development Properties leads to Hongkong Land’s US$7 mil underlying loss in 1HFY2024

Excluding the impact of the non-cash provision, underlying profit attributable to shareholders was US$288 million, 32% lower y-o-y

Broker's Calls

CGS International lowers TP to $3.30 for HongKong Land following challenging near-term outlook

In FY2024, the analysts estimate a higher impairment provision for the group’s China development properties business.

Corporate moves

Hongkong Land reimagines Landmark

Hongkong Land has a billion-dollar plan to transform its largest property in the SAR
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