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02-10-2019, 09:31 PM
(This post was last modified: 08-10-2019, 10:30 PM by dreamybear.)
Thanks karlmarx.
I went to take a quick look at HKL's AR, and yeah, it owns quality prime assets(with the likes of JPM, HKEX, LVMH Grp, etc as tenants) & is related to MCL / Jardine Matheson - I must have been a bear living in a well all these years. I think investing is a journey much like the Asian education system - start young, if not there won't be enuff time to gather knowledge.
That aside, yeah, the discount to NAV is pretty attractive - according to shareinvestor, Price(USD) 5.5 vs NAV(USD) 16.5. One thing I don't like(personally) is the forex part.
According to AR2018, HKL has a significant amt of investment properties of USD32,740.9m in HK/Macau. Once the great "reset" or HK lease expiry comes in 2047(and assuming no extension or "SERS" / "VERS" type of policy), does anyone know what it means in actual accounting ? Will it mean all properties become 0 value like our HDB flats after the lease expire ?
Regarding HK retail sales, it seems that even though everyone knows the HK numbers will be bad, jewellery/watch counters like LK(590.HK), OW(0398.HK), CTK(1929.HK) are still some way off their 5 year lows(Yr 2016). Cld it be perhaps reflecting that most of their sales are derived from mainland China(either in China itself - CTK or chinese tourists buy in HK - OW/LK) ?
--------------------------- Other news --------------------
Hong Kong's August retail sales worst on record as protests escalate
Updated: 02 Oct 2019 06:50PM
..................Sales of jewellery, watches, clocks and valuable gifts plunged 47.4 per cent on-year in August, data showed, after a revised 24.3 per cent drop in July.
Medicines and cosmetics fell 30 per cent in August, compared with revised 16.5 per cent fall in July. Department store sales dropped 29.9 per cent in August, against a 10.4 per cent fall in July.
Hong Kong-based skin care and cosmetics chain operator Sa Sa International posted 32 per cent year-on-year drop in its sales in Hong Kong and Macau in August, and expected its performance in September to remain "very weak".......
Read more at https://www.channelnewsasia.com/news/asi...d-11963286
I went to take a quick look at HKL's AR, and yeah, it owns quality prime assets(with the likes of JPM, HKEX, LVMH Grp, etc as tenants) & is related to MCL / Jardine Matheson - I must have been a bear living in a well all these years. I think investing is a journey much like the Asian education system - start young, if not there won't be enuff time to gather knowledge.
That aside, yeah, the discount to NAV is pretty attractive - according to shareinvestor, Price(USD) 5.5 vs NAV(USD) 16.5. One thing I don't like(personally) is the forex part.
According to AR2018, HKL has a significant amt of investment properties of USD32,740.9m in HK/Macau. Once the great "reset" or HK lease expiry comes in 2047(and assuming no extension or "SERS" / "VERS" type of policy), does anyone know what it means in actual accounting ? Will it mean all properties become 0 value like our HDB flats after the lease expire ?
Regarding HK retail sales, it seems that even though everyone knows the HK numbers will be bad, jewellery/watch counters like LK(590.HK), OW(0398.HK), CTK(1929.HK) are still some way off their 5 year lows(Yr 2016). Cld it be perhaps reflecting that most of their sales are derived from mainland China(either in China itself - CTK or chinese tourists buy in HK - OW/LK) ?
--------------------------- Other news --------------------
Hong Kong's August retail sales worst on record as protests escalate
Updated: 02 Oct 2019 06:50PM
..................Sales of jewellery, watches, clocks and valuable gifts plunged 47.4 per cent on-year in August, data showed, after a revised 24.3 per cent drop in July.
Medicines and cosmetics fell 30 per cent in August, compared with revised 16.5 per cent fall in July. Department store sales dropped 29.9 per cent in August, against a 10.4 per cent fall in July.
Hong Kong-based skin care and cosmetics chain operator Sa Sa International posted 32 per cent year-on-year drop in its sales in Hong Kong and Macau in August, and expected its performance in September to remain "very weak".......
Read more at https://www.channelnewsasia.com/news/asi...d-11963286