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MarketScreener Homepage  >  Equities  >  Hong Kong Stock Exchange  >  Sun Hung Kai Properties Limited    16   HK0016000132

SUN HUNG KAI PROPERTIES LIMITED

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Hong Kong's Sun Hung Kai Properties cuts February rent by up to 50% for most retail tenants

02/12/2020 | 05:55am EST

Some shopping mall landlords in Hong Kong, including Sun Hung Kai Properties, the city's largest property developer by value, are offering relief measures such as rental concession to their tenants during the coronavirus outbreak.

Sun Hung Kai Properties, who owns major malls in some of the local districts that host international fashion brands ranging from Coach to Zara, said on Wednesday it would reduce February rent by 30-50% for most of its tenants, in an effort to stabilize economy and protect employment.

MTR Corp, who runs malls on top some of its subway stations, said it will adjust rent for small-medium companies. For its chain and international brand tenants, it will launch relief measures after collecting their sales data.

Link Real Estate Investment Trust, whose tenants are mostly small to medium businesses, also said it has set up a HK$80 million relief scheme, which includes allowing rent payment by instalments, waiving late payment interest and service charges, granting rent-free periods and reducing rents.

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

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

(Reporting by Clare Jim; Editing by Louise Heavens)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
INDUSTRIA DE DISEÑO TEXTIL, S.A. 0.96% 28.28 Delayed Quote.-10.94%
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%
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%
ZARA INVESTMENT HOLDING COMPANY 2.70% 0.38 End-of-day quote.-37.70%
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Financials
Sales 2021 90 724 M 11 706 M 11 706 M
Net income 2021 30 689 M 3 960 M 3 960 M
Net Debt 2021 73 972 M 9 544 M 9 544 M
P/E ratio 2021 9,67x
Yield 2021 4,79%
Capitalization 304 B 39 181 M 39 183 M
EV / Sales 2021 4,16x
EV / Sales 2022 3,79x
Nbr of Employees 39 500
Free-Float 48,8%
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Technical analysis trends SUN HUNG KAI PROPERTIES LIMITED
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TrendsBullishBullishNeutral
Income Statement Evolution
Consensus
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Mean consensus BUY
Number of Analysts 16
Average target price 129,98 HKD
Last Close Price 104,80 HKD
Spread / Highest target 49,6%
Spread / Average Target 24,0%
Spread / Lowest Target 14,0%
EPS Revisions
Managers
NameTitle
Ping Luen Kwok Chairman & Managing Director
Di Qi Ye Independent Non-Executive Director
Yue Chim Wong Independent Non-Executive Director
Kwok Lun Fung Independent Non-Executive Director
Shau Kee Lee Vice Chairman