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MarketScreener Homepage  >  Equities  >  Hong Kong Stock Connect  >  Wheelock and Company Limited    0020   HK0020000177

WHEELOCK AND COMPANY LIMITED

(0020)
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Sun Hung Kai Properties says to lend farmland for transitional housing

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01/10/2020 | 05:59am EST

Hong Kong's Sun Hung Kai Properties announced on Friday a plan to lease 300,000 square feet of land for HK$1 ($0.13) for housing, responding to government appeals for help to fix a housing crunch that has fuelled protests.

The Hong Kong and Chinese governments have asked developers to help address Hong Kong's housing shortage that has forced prices up to among the world's highest and frustrated generations of young people who can only dream of getting on the property ladder.

Officials say the frustration has contributed to months of anti-government protests and promised to address it.

Major property developers including New World Development, Henderson Land Development and Wheelock and Co Ltd have donated land for social and what the government calls transitional, or temporary, housing.

Sun Hung Kai Properties, the city's largest developer by value, said on Friday its 300,000 square foot project in rural Yuen Long is expected to provide 1,600 transitional housing units by early 2022. The lease will be for at least eight years.

It plans to lend two more smaller pieces of farmland. Together, all three plots would allow for the construction of 2,000 units.

Hong Kong aims to providing 10,000 transitional housing units in the next three years.

(Reporting by Clare Jim; Editing by Robert Birsel)

Stocks mentioned in the article
ChangeLast1st jan.
HENDERSON LAND DEVELOPMENT COMPANY LIMITED -1.49% 36.45 End-of-day quote.-2.28%
NEW WORLD DEVELOPMENT COMPANY LIMITED -1.17% 10.18 End-of-day quote.-1.17%
SQUARE, INC. -3.10% 82.8353 Delayed Quote.36.99%
SUN HUNG KAI & CO. LIMITED 0.82% 3.7 End-of-day quote.0.82%
SUN HUNG KAI PROPERTIES LIMITED -1.13% 113.7 End-of-day quote.-1.13%
WHEELOCK AND COMPANY LIMITED -0.62% 48.2 End-of-day quote.-1.13%
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Financials (HKD)
Sales 2019 51 089 M
EBIT 2019 25 893 M
Net income 2019 16 200 M
Debt 2019 100 B
Yield 2019 3,48%
P/E ratio 2019 6,01x
P/E ratio 2020 6,33x
EV / Sales2019 3,86x
EV / Sales2020 3,13x
Capitalization 96 997 M
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Technical analysis trends WHEELOCK AND COMPANY LIMIT
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Mean consensus OUTPERFORM
Number of Analysts 10
Average target price 61,41  HKD
Last Close Price 47,25  HKD
Spread / Highest target 48,7%
Spread / Average Target 30,0%
Spread / Lowest Target 19,2%
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Managers
NameTitle
Chun Kuen Woo Chairman, Chief Executive Officer & MD
Yiu Cheung Tsui Group Chief Financial Officer & Executive Director
Tin Hoi Ng Deputy Chairman
Woo Shou Ting Independent Non-Executive Director
Kwong Yiu Wong Executive Director