6) Sun Hung Kai Properties Ltd (read
here)
Good results
For 1H FY2016 vs 1H FY2015
- Revenue increased 8.75% yoy.
- Profit attributable to the Company’s shareholders increased 9.9% yoy (Excluding the effect of fair value changes on investment properties net of deferred taxation and non-controlling interests).
Hong Kong developer outperforming rivals amid market slump (read here)
SHKP may cut sales target by up to 15 per cent as demand for homes weakens (read here)
Sun Hung Kai reported a net gearing ratio of 11% for fiscal 2014, lower than Cheung Kong’s 34% and Kerry’s 25%, according to the rating agency.
“Sun Hung Kai would have the strongest buffer in case of a downturn,” said Standard & Poor’s credit analyst Esther Liu. “Our base case is given a further 50% drop in [property] prices, it will have enough buffer against a downgrade action.”
Future outlook:
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