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MarketScreener Homepage  >  Equities  >  Hong Kong Stock Exchange  >  Henderson Land Development Company Limited    12   HK0012000102

HENDERSON LAND DEVELOPMENT COMPANY LIMITED

(12)
  Report
End-of-day quote. End-of-day quote Hong Kong Stock Exchange - 11/26
32.25 HKD   -1.07%
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09/10HENDERSON LAND DEVELOPMENT : Interim report 2020
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Hong Kong property developers cut retail rents in February amid virus battle

02/13/2020 | 12:18am EST

Major shopping mall landlords in Hong Kong are offering cuts in February rent by as much as 60% to help tenants ride out the effects of the coronavirus outbreak.

Hong Kong's retail sector, battered by months of often violent anti-government protests, is likely to suffer in the coming months as the outbreak in mainland China has emptied shopping centres and closed down tourist attractions.

Henderson Land said it will cut February rent by 20% to 60% for its small- to medium-size tenants in retail, food and beverage, as well as education businesses following similar moves by its peers.

"Hong Kong's retail and food and beverage businesses have been greatly affected since February due to the outbreak of the novel coronavirus outbreak," Henderson Land said in an emailed statement on Thursday.

The city's largest property developer by value, Sun Hung Kai Properties, which owns major district malls that host international fashion brands ranging from Coach to Zara, said on Wednesday it would reduce February rent by 30% to 50% for most of its tenants.

New World Development, whose tenants include many luxury brands, also said it would reduce the February rent, while MTR Corp, which runs malls on top some of its subway stations, said it would adjust rent for small-medium sized companies.

MTR also said it would launch relief measures for its chain and international brand tenants after collecting their sales data.

Link Real Estate Investment Trust has set up a HK$80 million ($10.30 million) relief scheme for its community malls, including measures like allowing rent payment by instalments, waiving off late payment interest and service charges, granting rent-free periods and reducing rents.

Separately, Sun Hung Kai Properties said home sales and hotel occupancy rates have been affected by the epidemic.

Hong Kong's economy contracted for the first time in a decade in 2019 and the worst yet to come, with no end in sight to the protests in the Chinese-ruled city and the virus outbreak in mainland China.

Hong Kong, which has confirmed 50 coronavirus cases and one death so far, has taken measures to reduce the number of visitors from China. The city's retail and tourism sectors rely heavily on spenders from the Chinese mainland.

The Chinese province of Hubei, which is at the epicentre of the virus, reported a record 14,840 new cases on Thursday under a new method for diagnosing cases.

(Reporting by Clare Jim; Editing by Louise Heavens and Amy Caren Daniel)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
HENDERSON LAND DEVELOPMENT COMPANY LIMITED -1.07% 32.25 End-of-day quote.-15.69%
INDUSTRIA DE DISEÑO TEXTIL, S.A. -0.32% 28.01 Delayed Quote.-10.65%
LAND CO., LTD. 0.00% 9 End-of-day quote.-25.00%
LINE CORPORATION 0.19% 5380 End-of-day quote.0.56%
LINK REAL ESTATE INVESTMENT TRUST 0.66% 68.8 End-of-day quote.-16.61%
MTR CORPORATION LIMITED -0.94% 42.15 End-of-day quote.-8.47%
NEW WORLD DEVELOPMENT COMPANY LIMITED -1.09% 40.8 End-of-day quote.-4.49%
RETAIL FOOD GROUP LIMITED -1.14% 0.087 End-of-day quote.-17.14%
SUN HUNG KAI & CO. LIMITED 0.88% 3.43 End-of-day quote.-7.55%
SUN HUNG KAI PROPERTIES LIMITED -2.06% 104.8 End-of-day quote.-12.15%
WORLD CO., LTD. -0.97% 1324 End-of-day quote.-50.80%
ZARA INVESTMENT HOLDING COMPANY 2.70% 0.38 End-of-day quote.-37.70%
All news about HENDERSON LAND DEVELOPMENT COMPANY LIMITED
11/24Hong Kong's Lam says restoring 'political system from chaos' is priority
RE
09/29Some of Hong Kong's poor finally feel at home in 290 sq ft modules
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09/10HENDERSON LAND DEVELOPMENT : Interim report 2020
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09/02HENDERSON LAND DEVELOPMENT COMPANY L : Ex-dividend day for interim dividend
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08/20HENDERSON LAND DEVELOPMENT : First-Half Net Profit Fell Despite Higher Revenue
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08/20HENDERSON LAND DEVELOPMENT COMPANY L : Half-year results
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08/17HENDERSON LAND DEVELOPMENT COMPANY L : half-yearly earnings release
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06/10HENDERSON LAND DEVELOPMENT COMPANY L : Ex-dividend day for final dividend
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04/03HONG KONG AND CHINA GAS : Towngas and Henderson Land Jointly Introduce 5G Techno..
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More news
Financials
Sales 2020 23 757 M 3 065 M 3 065 M
Net income 2020 14 444 M 1 864 M 1 864 M
Net Debt 2020 75 650 M 9 760 M 9 760 M
P/E ratio 2020 10,8x
Yield 2020 5,61%
Capitalization 156 B 20 144 M 20 145 M
EV / Sales 2020 9,76x
EV / Sales 2021 8,32x
Nbr of Employees 9 114
Free-Float 27,1%
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Technical analysis trends HENDERSON LAND DEVELOPMENT COMPANY LIMITED
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 16
Average target price 35,25 HKD
Last Close Price 32,25 HKD
Spread / Highest target 48,8%
Spread / Average Target 9,30%
Spread / Lowest Target -27,4%
EPS Revisions
Managers
NameTitle
Ka Kit Lee Co-Chairman & Co-Managing Director
Ka Shing Lee Co-Chairman & Co-Managing Director
Andrew Fung Chief Financial Officer & Executive Director
Tak Cheung Kum GM-Information Technology Department
Ying Chee Yip Executive Director