Retail Sales in Hong Kong Better Than Expected, but Growth Slows
Ahead of the interim results announcement for the fiscal year ending March 2017, Link REIT released some operating results. For the Hong Kong portfolio, retail sales were up 4.3% for April-June 2016. This compared favorably with the city’s retail sales, which decreased by 6.2% year on year. Overall results were slightly better than our projection. We adjust our fair value estimate]to HKD 47 from HKD 44, and our narrow moat and stable trend ratings for the firm are unchanged.The outperformance w...
Link Real Estate Investment Trust is a collective investment scheme constituted as a unit trust that invests primarily in retail and carpark operations.
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