HLPPY - Hang Lung Properties Limited

Other OTC - Other OTC Delayed Price. Currency in USD
11.64
+0.08 (+0.69%)
At close: 3:51PM EST
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Previous Close11.56
Open11.74
Bid0.00 x 0
Ask0.00 x 0
Day's Range11.57 - 11.74
52 Week Range10.09 - 12.80
Volume38,056
Avg. Volume26,650
Market Cap10.523B
Beta (5Y Monthly)1.53
PE Ratio (TTM)9.17
EPS (TTM)1.27
Earnings DateN/A
Forward Dividend & Yield0.76 (6.57%)
Ex-Dividend DateMay 03, 2020
1y Target Est10.06
  • Hang Lung Novel Coronavirus Relief Fund Donates Health and Food Kits to the Underprivileged
    PR Newswire

    Hang Lung Novel Coronavirus Relief Fund Donates Health and Food Kits to the Underprivileged

    Hang Lung Properties previously announced a donation of RMB 10 million to set up the "Hang Lung Novel Coronavirus Relief Fund" in support of measures to stem the spread of the novel coronavirus in mainland China and Hong Kong. With protective resources in short supply within the local community, Hang Lung has allocated the first portion of the Fund to the purchase of 2,000 sets of health and food kits (containing surgical masks, sanitizer, rice, cooking oil and dry food) in collaboration with the Hong Kong Young Women's Christian Association (HKYWCA). The kits are being distributed directly to the most needy elderly and underprivileged families identified by the HKYWCA in Tuen Mun, Yuen Long, Northern District, Kwai Tsing, and Sham Shui Po. Members of the Hang Lung As One Volunteer Team helped package the kits at individual HKYWCA service centers.

  • PR Newswire

    Hang Lung Properties Sets up Novel Coronavirus Relief Fund and Offers Rental Concessions to Tenants

    Hang Lung Properties is pleased to announce the donation of RMB 10 million to set up the "Hang Lung Novel Coronavirus Relief Fund" in support of measures to stem the spread of the novel coronavirus in mainland China and Hong Kong.

  • Hong Kong Property Faces a Trust Deficit
    Bloomberg

    Hong Kong Property Faces a Trust Deficit

    (Bloomberg Opinion) -- Hong Kong property companies, whose shares have been beaten down amid this year’s protests, are missing an opportunity to unlock value for shareholders. More should consider packaging their trophy assets into real estate investment trusts to release capital and improve the market’s view of their prospects.The Hang Seng Properties Index has slumped more than 17% from an April high as the unrest disrupted business, deterred home buyers and caused tourists and shoppers to stay away. The broader Hang Seng Index has lost 11%. Many real estate companies are trading at a steep discount to the value of their underlying assets.To understand why developers are trading at a discount, look at the ownership structure. Many are controlled by founding families, who are reluctant to part with their most prized properties. Take Hang Lung Properties Ltd., for example. Chairman Ronnie Chan owns more than half the company, which trades at a price-to-book ratio of 0.52 times.As a result of the reluctance to divest, companies end up acting essentially as landlords rather than developers, stunting the potential for growth. In effect, investors are participating in a bond-like structure by collecting rental income instead of achieving an equity-like return via property development and sales. Concern that Hong Kong is at the peak of a property cycle has also helped to depress valuations, with investors discounting developer shares to reflect the risk of a decline. Hang Lung’s price-to-book ratio has dropped from a peak of more than 1.8 times over the past decade as Hong Kong real estate prices surged.Spinning off rental properties into trusts, or REITs, could help to narrow the discount to net asset value. Such a maneuver would enable family-owned entities to retain control while generating capital from REIT offerings that could be redeployed into better-yielding projects. That in turn would raise return on equity, benefiting owners and investors. The parent company would enjoy higher growth prospects through a relatively asset light model while the REIT provides a steady income stream.Income taxes are the primary obstacle to expansion of Hong Kong’s REIT market. At the moment, Hong Kong property trusts are taxed like corporations at 16.5%. Singapore, by contrasts, grants a tax exemption to REITs holding both domestic and foreign properties as long as they pay out 90% of their income in dividends. In 2014, Hong Kong’s Financial Services Development Council urged the city’s authorities to stimulate the REIT market by introducing a tax break, so far to no avail.That discrepancy has helped Singapore to maintain its lead over Hong Kong as a center for REITs. Singapore, which issued its first property trust in 2002, has 43 now with total assets of $112 billion. Hong Kong’s first listing was Link REIT in 2005. Nine more have followed since, bringing total assets to $67 billion. No new REITs have been issued in Hong Kong since 2013; by contrast, Singapore has seen 11 listings in the past five years.Share performance has also been superior in the Southeast Asian city-state. The S&P Singapore REIT index has returned 25% this year, compared with less than 4% for its Hong Kong equivalent. The valuation gap is stark: Singapore REITs trade at about 1.1 times book, versus 0.6 times for Hong Kong.That might suggest that Hong Kong property companies have little to gain by packaging assets into trusts. Besides the tax issue, the discount may reflect that most REIT listings in Hong Kong to date haven’t included companies’ highest-quality properties. In any case, there’s another solution for the city’s developers: List their REITs in Singapore. That might even sway Hong Kong authorities into reconsidering their stance. (Corrects the year of Link REIT’s listing to 2005 in the seventh paragraph.)To contact the author of this story: Ronald W. Chan at chartwellhk@bloomberg.netTo contact the editor responsible for this story: Matthew Brooker at mbrooker1@bloomberg.netThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Ronald W. Chan is the founder and CIO of Chartwell Capital in Hong Kong. He is the author of “The Value Investors” and “Behind the Berkshire Hathaway Curtain.”For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.

  • Hang Lung Emerald Award Enters its Fifth Year
    PR Newswire

    Hang Lung Emerald Award Enters its Fifth Year

    HONG KONG, Oct. 30, 2019 /PRNewswire/ -- While shopping malls are about meeting customers' needs for shopping and leisure, it is the frontline staff who provide the human touch. To this end, Hang Lung Properties has held the Hang Lung Emerald Award for the fifth year to recognize the outstanding efforts of our frontline staff members and demonstrate Hang Lung's strategies of promoting a customer-centric culture and building Hang Lung's branded experience. The Hang Lung Emerald Award 2019 received 534 nominations from properties across Hong Kong and Mainland China, hitting record high since its inception.

  • Hang Lung Breaks Ground for its Landmark Project Westlake 66 in Hangzhou
    PR Newswire

    Hang Lung Breaks Ground for its Landmark Project Westlake 66 in Hangzhou

    HONG KONG, Sept. 17, 2019 /PRNewswire/ -- Hang Lung Properties today held the ground-breaking ceremony for its project Westlake 66 in Hangzhou, capital of Zhejiang Province, marking the official debut of the Company's 11th large-scale commercial development on the Mainland. Westlake 66 is situated at the prime location of Bai Jing Fang in the Xiacheng District of Hangzhou, the only remaining large-scale site for commercial development in the district, with a site area of approximately 44,800 square meters and a gross floor area of approximately 194,100 square meters.

  • Hang Lung's New World-class Office Tower Unveiled at Heartland 66 in Wuhan
    PR Newswire

    Hang Lung's New World-class Office Tower Unveiled at Heartland 66 in Wuhan

    HONG KONG, Sept. 10, 2019 /PRNewswire/ -- The Office Tower of Heartland 66, Hang Lung Properties' first large-scale commercial development in central China, is now open for leasing. Tenants are expected to move into the Grade A Office Tower in the second quarter of next year. The large-scale commercial development is conveniently located on Jinghan Avenue in bustling Qiaokou District, the commercial and business heart of Wuhan, with light rail and mass transit railway accessibility.

  • Spring City 66 in Kunming Opens for Business
    PR Newswire

    Spring City 66 in Kunming Opens for Business

    Kunming's New Landmark -- Home to Nearly 300 Top International and Local Brands HONG KONG , Aug. 23, 2019 /PRNewswire/ -- Spring City 66, Hang Lung Properties' first entry into the southwest region of ...

  • Hang Lung Clinches Multiple Awards for its Excellence in Learning and Development
    PR Newswire

    Hang Lung Clinches Multiple Awards for its Excellence in Learning and Development

    HONG KONG, July 5, 2019 /PRNewswire/ -- Hang Lung Properties is pleased to announce that the Company has received accolades presented by two highly acclaimed professional bodies for its outstanding customer service training programs and various initiatives to promote corporate culture. Hang Lung has won the "2018 Excellence Practice Awards" by the Association for Talent Development (ATD) for the first time and two awards in the category of Property Management at the International Customer Relationship Excellence (CRE) Awards for the seventh consecutive year.

  • Hang Lung Launches New Strategic Sustainability Framework
    PR Newswire

    Hang Lung Launches New Strategic Sustainability Framework

    HONG KONG , June 24, 2019 /PRNewswire/ -- Hang Lung Group Limited (Stock Code: 00010) and Hang Lung Properties Limited (Stock Code: 00101) have published their online Sustainability Reports 2018, which ...

  • Hang Lung Wins Best Investor Relations Company Award
    PR Newswire

    Hang Lung Wins Best Investor Relations Company Award

    HONG KONG , May 30, 2019 /PRNewswire/ -- Hang Lung Properties Limited is pleased to announce its acceptance of the "Best IR Company (Large Cap)" award at the 5 th Investor Relations Awards (IR ...

  • Spring City 66: World-class Office Tower Show Suite Unveiled
    PR Newswire

    Spring City 66: World-class Office Tower Show Suite Unveiled

    KUNMING, China, May 7, 2019 /PRNewswire/ -- Spring City 66, Hang Lung Properties' commercial complex in Kunming, Yunnan Province, today organized a media tour to showcase its world-class Office Tower show suite. Mr. Derek Pang, Director -- Leasing & Management, and Mr. Adrian Lo, Director -- Project Management of Hang Lung Properties, introduced the market positioning, architectural design, features and facilities of Kunming's first ever Grade A Office Tower.

  • Hang Lung Wins Four Honors at the 2019 Asia-Pacific Stevie Awards
    PR Newswire

    Hang Lung Wins Four Honors at the 2019 Asia-Pacific Stevie Awards

    HONG KONG, April 30, 2019 /PRNewswire/ -- Hang Lung Properties is pleased to announce that the Company's customer event and community program have won four accolades at the 2019 Asia-Pacific Stevie Awards, in the event, community relations, and branding categories. The Plaza 66's Home to Luxury celebratory event garnered a Gold Stevie Award in Innovation in Consumer Events and a Silver Stevie Award in Innovation in Business-to-Business Events.

  • Reuters

    BRIEF-Hang Lung Properties Says Infinite Harvest And Eagle Century To Establish JV Co

    April 2 (Reuters) - Hang Lung Properties Ltd: * INFINITE HARVEST AND EAGLE CENTURY TO ESTABLISH JV CO ON A 2:1 BASIS FOR RE-DEVELOPMENT OF LAND AT ELECTRIC ROAD, HONG KONG * AGGREGATE FUNDING REQUIREMENT ...

  • PR Newswire

    Hang Lung Publishes 2018 Annual Reports Today

    HONG KONG, March 21, 2019 /PRNewswire/ -- Hang Lung Group Limited (Stock Code: 00010) and Hang Lung Properties Limited (Stock Code: 00101) today published their Annual Reports themed "Building a Sustainable Future" for the Financial Year 2018. Highlighting the Company's five operating strategies, this year's Annual Reports adopt the twin covers design to showcase the unique architectural and design features of our 10 world-class properties, while the respective sections in the Reports focus on the various features of our exceptional performance. The Chairman of Hang Lung Group and Hang Lung Properties, Mr. Ronnie C. Chan, once again personally pens the Chairman's Letters to Shareholders, sharing his in-depth analysis of the industry, high-end retailers and the Company's business.