Developers praise "bold" initiative
Article Abstract:
The Hong Kong government measures to stabilise property market are welcomed by major developers and property analysts. Vice-chairman of Sun Hung Kai Properties Raymond Kwok said the government measures would benefit 1.2 mn households owning private residential units and restore consumers' confidence. Chi Cheung Property director of research Ivan Lo said property prices could rebound 5-8% in the near future. However, sharp rises were unlikely because large number of flats would be launched in 1998. *
Comment:
Hong K: Government measures to stabilize property market are welcomed by major developers & property analysts
Publication Name: HK Standard
Subject: Business, international
ISSN:
Year: 1998
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wharf interim down 38.9% to $1.36 bn
Article Abstract:
Wharf Holdings saw turnover grew 10.61% to HK$5.27 bn, with net profit down 38.97% to HK$1.36 bn in the first half 1998. The downturn of business performance was due to rising debt to HK$27 bn and increasing interest spending to HK$550 mn in the first half 1998. The company expected its full year profit would be HK$1.8 bn. It plans to put more effort on property investment. The Gateway II, a retail podium, will be finished in 1999. The rental revenue will reach HK$5 bn a year. *
Comment:
Expects its full year profit would be HK$1.8 bil for 1998
Publication Name: HK Standard
Subject: Business, international
ISSN:
Year: 1998
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shkp worns big provisions will eat into bottom line
Article Abstract:
Sun Hung Kai Properties (SHKP) is expected to make large provisions between HK$2.5 bn and HK$4 bn for the price drop of its Ma Wan development and Shui Wing Steel Mill redevelopment project in Tseung Kwan O. The could affect its earnings. In addition, SHKP has issued a joint card with Citibank. The credit card will be issued to all 45,000 SHKP club members. The card can be used for making property downpayment, managment fees for some SHKP estates, shopping discounts. *
Comment:
Expects to make provisions between HK$2.5 bil & HK$4 bil for price drop of Ma Wan dvlpmt & Shui Wing Steel Mill redvlpmt project
Publication Name: HK Standard
Subject: Business, international
ISSN:
Year: 1998
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