Home 

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

Read More
Home 

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

Read More
Home 

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

Read More
Home 

CK Asset sells 44 per cent of flats during weekend sale at Shanghai residential project as location, price controls draw buyers

Beijing’s policy of imposing curbs on how much developers can charge for homes has helped ignite sales, especially on the upper end of the market, as buyers snapped up nearly 500 units of a prime project in Shanghai at prices 10 per cent lower than a similar project.The sale, which took place at CK Asset Holdings’ project Upper West Shanghai, bodes well for other prime projects with artificially low prices, analysts said.CK Asset, which has two projects underway in Shanghai, netted 4.3 billion… Source link

Read More
Home 

CK Asset says impact of protests on Hong Kong’s property market will be minimal, but trade war remains a long-term worry

The massive street protests triggered by the extradition bill will not have as big an impact on the city’s property market as the US-China trade war, according to a top executive of CK Asset Holdings, Hong Kong’s second largest developer.“There were only 20 days for consultation, which was obviously not enough,” said executive director Justin Chiu Kwok-hung on Tuesday, becoming the first major developer to publicly comment on the political issue that galvanised Hongkongers. “[The protests] show… Source link

Read More
Home 

Deal maker Li Ka-shing and son Victor push CK Hutchison group of companies to the top of the league for advisory fees in Asia

Li Ka-shing, the Hong Kong tycoon known affectionately as “Superman” for his deal making prowess, was the biggest patron of investment banks and takeover consultants, with his flagship companies paying as much as US$126.9 million in fees in the past five years, according to a report by data provider Dealogic.The two listed flagships, CK Hutchison and sister company CK Asset Holdings, chaired by Victor Li Tzar-kuoi who took up the roles after his father retired in May last year, together with… Source link

Read More
Home 

CK Hutchison controlled biopharmaceutical company Chi-Med applies to list in Hong Kong

Hutchison China Meditech, or Chi-Med, a biopharmaceutical company specialising in cancer and immunological drugs controlled by Hong Kong conglomerate CK Hutchison Holdings, has applied to list on the city’s stock exchange through a flotation comprising Hong Kong and global offerings.CK Hutchison, which currently holds a majority 60.2 per cent stake, plans to reduce its shareholding to below 50 per cent, as this will allow the deconsolidation of Chi-Med numbers into its financial statements… Source link

Read More
Home 

CK Asset to extend leases to 18-months for selected rooms at four hotels as rental market softens

CK Asset Holdings, which is headed by retired tycoon Li Ka-shing’s elder son Victor Li Tzar-kuoi, will extend leases for 50 rooms at four of its hotels to 18 months from a year, amid signs that the residential rental market is trending downward.CK Asset said the offer would allow tenants to lock in a fixed fee under a longer lease term.The move comes as Hong Kong’s residential rental index fell to an eight-month low in March. Average rents in March were down 2.8 per cent from a peak in October……

Read More
Home 

CK Asset is no longer a pure property company, a year after Victor Li takes over the flagship’s from ‘Superman’ dad

Victor Li Tzar-kuoi had a surprise for shareholders last month when he announced the 2018 earnings of the flagship company founded by his father: he paid the highest dividend growth among Hong Kong’s listed property developers.For CK Asset Holdings, the record payout – even if its core profit missed consensus estimate – was the culmination of a three-year restructuring that transformed one of the city’s best-known developers into one of Asia’s largest conglomerates, with operations spanning… Source link

Read More
Home 

Health and beauty giant AS Watson opens 15,000th store as CK Hutchison chair Victor Li tries to emerge from father Li Ka-shing’s shadow

Founded almost two centuries ago as a simple dispensary, it is now part of the fabric of Hong Kong, selling everything from beauty products and tissues to snacks and its own brand of bottled water.Watsons is almost as ubiquitous as 7-Eleven, with at least one shop in every neighbourhood of the city. Breakneck expansion into overseas markets has seen AS Watson Group grow into the world’s biggest and fastest growing health and beauty retailer, opening a new store on average once every seven hours… Source link

Read More