Morningstar - Hang Lung Properties Limited (00101) Hang Lung Properties: Capital Recycling on a Grand Scale

Report

Morningstar

Phillip Zhong

EUR 101.80 For Business Accounts Only

Hang Lung Properties: Capital Recycling on a Grand Scale

We initiate coverage of Hang Lung Properties with no-moat and stable moat trend ratings, along with a fair value estimate of HKD 24 per share. Hang Lung Properties is a property investor that mainly holds commercial assets in Hong Kong and China. Rental income accounts for 70%-80% of operating profit, split between Hong Kong and China, with property development in Hong Kong contributing the rest. In China, the companyâ€™s exposure is almost entirely retail, with rental revenue from retail malls ac...

31/01/2018 12 EN

Underlying

Hang Lung Properties Limited

Hang Lung Properties is an investment holding company. Through its subsidiaries, Co. is engaged in property investment for rental income, property development for sales and leasing, car park management and property management. Co. segments include: property leasing in Hong Kong and mainland China; and property sales in Hong Kong. Co's property leasing segment includes property leasing operation. Co.'s investment properties portfolio consists of retail, office, residential, serviced apartments and carparks are primarily located in Hong Kong and mainland China. Co.'s property sales segment includes development and sale of Co.'s trading properties in Hong Kong.

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HK0101000591 Hong Kong Stock Exchange Hong Kong

Provider

Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

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Analysts

Phillip Zhong

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Hang Lung Properties: Capital Recycling on a Grand Scale

Hang Lung Properties: 1 director

HANG LUNG PROPERTIES sees an upgrade to Slightly Positive due to a better fundamental star rating

Monthly LMI Update Independent Investment Research

Business as Usual for No-Moat Lonza; Specialty Ingredients Carve-Out on Track for 2020

Astra Posts Solid 2Q, Driven by Strong Cancer Drug Sales and Moving Away From One-Time Divestments

Astra Posts Solid 2Q, Driven by Strong Cancer Drug Sales and Moving Away From One-Time Divestments

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