|Bid||10.100 x 0|
|Ask||10.120 x 0|
|Day's Range||10.040 - 10.300|
|52 Week Range||7.710 - 13.560|
|Beta (3Y Monthly)||1.68|
|PE Ratio (TTM)||5.52|
|Earnings Date||Aug 19, 2019 - Aug 23, 2019|
|Forward Dividend & Yield||0.51 (4.93%)|
|1y Target Est||14.54|
China's property investment grew at its fastest pace in four months in August, a boon for the economy as other sectors weaken from the Sino-U.S. trade war and consumer demand slows. Sales growth accelerated to the highest in more than a year but a surge in demand could be concerning for policymakers who want to reduce high household debt and manage potentital bubble risk. Property investment is a significant contributor to growth in the world's second-largest economy.
It looks like Country Garden Holdings Company Limited (HKG:2007) is about to go ex-dividend in the next 3 days. You...
(Bloomberg Opinion) -- There's a lot working against China's most indebted property firm. China Evergrande Group is sitting on $113.7 billion in debt and its core profit fell 45% in the first half of the year. Real-estate growth is slowing, with banks under orders to curb home loans. President Xi Jinping’s refrain that houses are for living in, not speculation, has been cropping up more frequently. Time to rein things in, right? Not Evergrande. The company, whose portfolio already includes theme parks and a football club, now wants to become the world’s biggest electric-vehicle maker in the next three to five years. It’s burning through precious cash – 160 billion yuan ($22 billion) – to build factories in Guangzhou. Investors are voting on this folly with their feet. The company’s shares have fallen 30% this year, making Evergrande the worst performer among Hong Kong-listed Chinese developers. The property firm’s borrowing costs are among the highest in the offshore dollar market and its bonds are tumbling. For anyone gawking at Evergrande’s improbably ballooning debt load, just waiting for the doomsday clock to strike midnight, there’s a valuable lesson: This firm is too big to fail. Evergrande is one of China’s biggest developers – with projects in 226 cities – and its billionaire founder, Hui Ka Yan, is the country’s third-richest man. With property accounting for about a quarter of China’s gross domestic product, any instability in the sector has proven too much for Beijing to stomach. Time and again, the government has reluctantly reopened the credit spigots to boost a flagging real-estate market. Just look at 2008, 2011 and 2014. Crucially, Evergrande has China's largest land reserve, with 276 million square meters (905 million square feet) of gross floor area, according to Citigroup Inc. While the developer has a lot of exposure to China’s smaller cities, where growth is slowing rapidly, it also dominates redevelopment in big, rich cities such as Shenzhen, where profit margins are robust. Land is scarce in Shenzhen, and urban renewal – demolishing old, low-density buildings to make way for high-rise apartments – is widely seen as the answer to the city’s growing population. These projects also give Evergrande access to cheap lots, which helps keep its land costs among the lowest of its peers, according to Toni Ho, an analyst at RHB Securities. If the protests in Hong Kong accelerate China’s plans to make Shenzhen the the next “global cosmopolis,” according to state-run Xinhua News Agency, Evergrande could be in a plum position.The company’s diversification into electric cars is sure to bleed money for years, and competition is getting stiffer. During his visit to China last week, Elon Musk managed to score a tax break for Tesla Inc. But carrying out one of Xi’s signature projects has its perks: For example, clean-car manufacturers can get land much more cheaply from local governments than real-estate developers. That helps explain why a host of firms including Country Garden Holdings Co. and Agile Group Holdings Ltd. are jumping in.Being in Beijing’s favor and securing low-cost inputs is no bad thing for a cash-strapped developer like Evergrande. Maybe there’s a method to the madness of its wild spending.To contact the author of this story: Nisha Gopalan at firstname.lastname@example.orgTo contact the editor responsible for this story: Rachel Rosenthal at email@example.comThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Nisha Gopalan is a Bloomberg Opinion columnist covering deals and banking. She previously worked for the Wall Street Journal and Dow Jones as an editor and a reporter.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
Moody's Investors Service has today revised the ratings outlook on Country Garden Holdings Company Limited to positive from stable. At the same time, Moody's has affirmed the Ba1 corporate family rating and Ba2 senior unsecured rating. "The change in outlook to positive reflects our expectation that Country Garden's credit metrics over the next 12-18 months will improve to levels that are strong for its current rating level," says Josephine Ho, a Moody's Vice President and Senior Analyst.
- During his visit to Country Garden's headquarter in China, the Minister Lim Guan Eng suggests Johor Bahru, where Forest City Malaysia located, to the company as a bridgehead for introducing more sophisticated ...
HONG KONG, Aug. 23, 2019 /PRNewswire/ -- On August 22, Country Garden disclosed its financial results for the first half of 2019 in Hong Kong. This is Country Garden's first results report since the Chinese property developer climbed to 177th place in the Fortune Global 500 list last month. During the last six months, the company continued to lead the industry in terms of sales, with revenue, gross profit, net profit and other indicators having increased significantly when compared with the same period last year, while net debt ratio remains comfortably well below the norm for the industry.
After Country Garden Holdings Company Limited's (HKG:2007) earnings announcement in December 2018, the consensus...
KUALA LUMPUR/HONG KONG (Reuters) - Hong Kong citizens have snapped up about 200 apartments in the past two months at a sprawling housing development in Malaysia, two estate agents said, a sign that some Hong Kongers are looking for homes elsewhere due to the political volatility at home. The latest purchases will nearly double the number of apartments held by Hong Kong residents in the $100-billion Forest City developed by China's Country Garden Holdings Ltd on the southern tip of Malaysia. Real estate agents expect Malaysia and Thailand to benefit the most from some Hong Kong residents' frustration over the second bout of lengthy anti-government demonstrations in five years in the former British colony, which returned to Chinese rule in 1997.
JOHOR BAHRU, Malaysia, Aug. 19, 2019 /PRNewswire/ -- The Forest City Classic Golf Course, the second 18-hole golf course of the Forest City Golf Resort, is unveiled today. In conjunction with the launch, Forest City has organised a two-day golf tournament for the media which will kick off after the grand opening of the golf course. This is the second time that Forest City is organising the Media Cup tournament.
We often see insiders buying up shares in companies that perform well over the long term. The flip side of that is...
Country Garden Holdings Company Limited (HKG:2007) shareholders might be concerned after seeing the share price drop...
JOHOR BAHRU, Malaysia , July 30, 2019 /PRNewswire/ -- Forest City/Country Garden Pacificview Sdn Bhd (CGPV) here has achieved another key milestone by being the only participant from Malaysia to win an ...
FOSHAN, China, July 23, 2019 /PRNewswire/ -- The 2019 edition of the Fortune Global 500 list was formally released on the evening of July 22, with Wal-Mart, Sinopec, and Shell Oil Company owning the top three spots. The Fortune Global 500 companies in the aggregate recorded total operating revenue of US$32.7 trillion, up 8.9 per cent year-on-year, while their profit reached a new high at US$2.15 trillion, up 14.5 per cent. The net profit margin climbed to 6.6 per cent, while the return on net assets advanced to 12.1 per cent. The Fortune Global 500 is a proven authority in terms of global company rankings based on operating revenue.
Is Country Garden Holdings Company Limited (HKG:2007) a good dividend stock? How can we tell? Dividend paying...
Bhd. (CGPV) Forest City ("Forest City Malaysia" or "Forest City") is ready to welcome new residents to over 9,000 new homes. Following the completion of the Starview Bay complex in May, this development will allow an additional 6,500 residents to move into one of the world's most innovative new cities. To meet the needs of its growing community, Forest City has developed a comprehensive and connected smart island experience that encompasses innovative living technologies, personalised service and community events.
The new sustainability plan will see the developer extend the use of digital strategies to cover every segment of its business from design to construction, daily operations and safety management. FOSHAN, China, July 10, 2019 /PRNewswire/ -- Country Garden (HK.02007), a Hong Kong-listed Fortune 500 real estate company, announced plans to position itself as a diversified technology company that creates lifestyle products for global markets. The announcement follows the release of the company's 10th Sustainability Report that discloses its vision, strategy, and practice on future sustainable development.
Bin Mo is the CEO of Country Garden Holdings Company Limited (HKG:2007). This report will, first, examine the CEO...