Listed Real Estate Asia, KT Capital Group

Jacob Cheng

Listed Real Estate Asia

KT Capital Group

Principal investments and advisory firm that focuses on connecting the CIS countries with East Asia.

Principal investments and advisory firm

Equity Bottom-Up

Sun Hung Kai Properties / Equity Bottom-Up

<ul>
<li>In this insight, we conducted fundamental analysis for SHKP, which is a proxy for Hong Kong given 70% of its GAV comes from Hong Kong</li>
<li>SHKP has well diversified businesses in residential, retail and office in Hong Kong and China, and there are a lot of share price drivers</li>
<li>We would recommend a BUY as long as the stock trades below HKD100, as the stock has a trading range of HKD100 to HKD 130</li>
</ul>


In this insight, we conducted fundamental analysis for SHKP, which is a proxy for Hong Kong given 70% of its GAV comes from Hong Kong
SHKP has well diversified businesses in residential, retail and office in Hong Kong and China, and there are a lot of share price drivers
We would recommend a BUY as long as the stock trades below HKD100, as the stock has a trading range of HKD100 to HKD 130


Sun Hung Kai Properties (16 HK): A Proxy for Hong Kong and Diversified Play – a Value Trade

<ul>
<li>On July 7, HKMA announced measures to ease property based lending. The major changes involve relaxation of LTVs, according to property values</li>
<li>We see these policies target the up-graders and will support the residential market. Housing price has been on a decline trend since early 2022</li>
<li>Residential developers are trading at attractive valuation.  In particular, we see a lot of upside for 17 HK NWD and 101 HK HLP</li>
</ul>


On July 7, HKMA announced measures to ease property based lending. The major changes involve relaxation of LTVs, according to property values
We see these policies target the up-graders and will support the residential market. Housing price has been on a decline trend since early 2022
Residential developers are trading at attractive valuation.  In particular, we see a lot of upside for 17 HK NWD and 101 HK HLP


Short Note: HK RE – Supportive Mortgage Policy, Resi Developers Are Trading at Trough Valuation

Hong Kong

Sun Hung Kai Properties Limited develops and invests in properties. The Company operates and manages hotels, properties, car parking, and transportation infrastructures. Sun Hung Kai Properties serves customers in Hong Kong.

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Sun Hung Kai Properties (16 HK)