[ET Net News Agency, 15 July 2019] Daiwa Research said Hang Lung Properties
(HLP)(00101) has revamped most of its malls outside Shanghai and is well placed to ride
the rise of luxury and middle-class consumption in China, particularly by the younger
generation.
The research house looks for a sustained rise in HLP's dividend starting from 2020, or
earlier, and expects an acceleration in the growth of its China rental income in 1H.
Meanwhile, HLP has confirmed that it plans to sell some of its serviced apartment GFA in
China as luxury residential units, and Daiwa expects that it will dispose of non-core
properties in Hong Kong. Such moves could potentially enable HLP to pay down all its debt,
which would underpin its ability to deliver a sustained rise in dividend.
Daiwa reiterated its "buy" rating and a target price of HK$25.7. (KL)
|
|
|
|
|
|
|
|
|
|
Super Quote | Detail Quote | Interactive Chart | Transaction | Related News | Related Securities | Company Information | Dividend Records | Short Sell
00101 HANG LUNG PPT
Nominal 
6.010 +0.110 (+1.864%) Others
15/07/2019 11:35
[I-bank focus]Hang Lung seen to deliver sustainable yield
| Remark: | Real time quote last updated: 25/09/2024 18:00 |
| Real-time basic market prices of Hong Kong securities are provided by HKEx; a Designated Website authorized by the HKEx Group to provide the Service |