Investment 

Li Ka-shing’s CK Asset to buy UK pub operator Greene King for US$3.27 billion

CK Asset Holdings, the flagship of tycoon Li Ka-shing, said it has reached an agreement to buy Greene King, which operates 2,700 pubs, restaurants and hotels in the UK, for £2.7 billion (US$3.27 billion). CK Asset said in a Hong Kong stock exchange announcement late on Monday that it has bought a 2.9 per cent stake in Greene King through a wholly-owned subsidiary, and has proposed to buy out the entire issued share capital of the London-listed company for 850 pence (HK$80.8) each. CK Asset… Source link

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CK Asset postpones sale of luxury flats estimated to cost more than US$12.7 million citing social turmoil

CK Asset Holdings, the second largest developer by market value in Hong Kong, has become the latest builder to defer the sale of its luxury residential project, as 10 weeks of social turmoil has severely hurt consumer sentiment.The as-yet unnamed project at 21 Borrett Road, in Mid-Levels, was originally expected to be released for sale this month.Executive director Justin Chiu Kwok-hung said on Tuesday that the group had decided to postpone the sale of the luxury flats that would cost more than… Source link

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Victor Li’s CK Asset sees core profit rise 16 per cent thanks to strong property sales before market soured

Victor Li Tzar-kuoi’s CK Asset Holdings announced a 16.4 per cent increase in core profit for the six months to June, driven by strong property sales in Hong Kong that it locked in before the housing market turned sour.Underlying interim profit, excluding investment property revaluation and property disposal, came to HK$14.05 billion (US$1.8 billion), up from HK$12.07 billion in 2018.CK Asset, the second largest developer by market value in Hong Kong, said revenue rose 41 per cent to HK$34… Source link

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CK Asset, Sun Hung Kai compete for homebuyers’ cheques in Sham Shui Po, in a battle that can set the course for Hong Kong’s market

Two of Hong Kong’s largest property developers are poised to compete head to head next month for the chequebooks of the city’s homebuyers, in a battle that will determine the course of the world’s most expensive real estate market.CK Asset Holdings, founded by the city’s wealthiest man Li Ka-shing, will start selling the 876-unit Seaside Sonata residential project in Sham Shui Po, its first sale in 2019 and a third of the 2,400 apartments on its contract book. Sun Hung Kai Properties (SHKP)… Source link

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Vietnam 

Sharp rises in Q2 corporate earnings come from asset sales – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Hot-rolled coils stored inside a Nam Kim steel plant. The company plans to earn VNĐ850 billion from selling its stakes in sub companies and business projects in 2019. – Photo news.zing.vn HÀ NỘI — A number of listed companies have reported sharp increases in their quarterly profits as they have performed well in selling stakes in sub-units and projects. The first half of the year was a tough time for local firms as the Vietnamese economy growth slowed to 6.71 per cent. The figure was 0.02…

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Global bull run could continue for as long as two years, but may be ‘noisy’ for investors, Investec Asset Management says

The bull market and the longest economic expansion globally since the second world war will continue for as long as another 18-24 months, but it could be a “noisy” one for investors, according to Investec Asset Management.John Stopford, head of multi-asset income at Investec, said investors needed to be more defensive in their approach as the market cycle was quite “long in the tooth”, but there were opportunities to take on risk.“The context we are operating in is a very uncertain one, a very… Source link

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High-profile defaults highlight risk in China’s shadow-banking sector amid asset deterioration

A slew of high-profile defaults in China’s shadow-banking sector has highlighted the acute deterioration of assets in the US$9 trillion market, analysts said.Noah Holdings, one of China’s largest wealth and asset managers, revealed last week that 3.4 billion yuan (US$500 million) of investment in Camsing International is in danger of default, after Camsing’s controller Lo Ching was arrested by police for suspected fraud.In early June, Anxin Trust disclosed that it had missed payments of 11.8… Source link

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Hong Kong stock exchange operator launches inline warrants, first new structured product in 13 years as part of plan to be Asia’s asset management hub

The operator of Hong Kong’s tock exchange will introduce inline warrants trading on Thursday, marking the first roll-out of a new structured product in 13 years, part of its three-year plan to diversify into a leading Asian asset management centre.Fifty inline warrants will start trading on Thursday (July 18) on the stock exchange, issued by six banks, BNP Paribas, Haitong, HSBC, JPMorgan, Societe Generale and Vontobel.They are derivative products linked to the Hang Seng Index and the share… Source link

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Central China Securities shares plunge in Shanghai and Hong Kong as asset management products face default risks

Shares of Central China Securities tumbled in Shanghai and Hong Kong after the brokerage said two of its asset-management products worth 241.5 million yuan (US$35.1 million) may be about to default on payments to investors.The stock had slumped 8.5 per cent to 5.30 yuan by mid-afternoon Friday in Shanghai, putting it on track for its biggest decline since May 6. The shares lost 4 per cent to HK$1.70 in Hong Kong.The two asset-management products were backed by Minxing Pharmaceutical, a drug… Source link

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Global 

Investors are too pessimistic about the global economy, US-China trade war, says HSBC Global Asset Management

Investors are being too pessimistic about the global economy and the effects of the trade war between the United States and China, according to HSBC Global Asset Management.Bill Maldonado, the chief investment officer for Asia-Pacific, said that this year has been a much stronger one for markets than 2018, with strong returns in a “low inflation, low-interest-rate world”.“We should keep calm and carry on. It’s important not to get too distracted by the pessimism, on the trade dispute, on the… Source link

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