Hongkong Land Holdings

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#51
Vacancy rate seems to have stabilised, so office demand has been resilient. Its retail rents are also recovering. So generally good signs. With the outbreaks mostly under control, a re-opening of the border with the mainland will further boost HK's business and retail activities.

After observing this phenomenon for more than a year, my guess is that the post-pandemic work arrangement will be a hybrid of working from home and at the office. Offices are far from being disrupted.

As for the migrating local resident (and Western companies), I'm guessing that there will be plenty of migrants from mainland eager to market themselves on a more global platform, who are willing to take their place (and leases).

So I think the next few years for HKL will be better, even though the returns are likely to be modest.

Sister company DFI however continued to perform terribly when all its peers are raking it in.
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#52
In my view, not based on any substantiated research or anecdotal evidence, as HKL's tenants are mostly law firms and financial firms, the 'not-in-sight, not-in-mind' corporate pressure would be high. Thus HKL tenants' tendency to revert back to work-from-office would be high.
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#53
It is a no brainer that buying back much below NAV, is a net gain for remaining shareholders. HKL just made their first repurchase today (~1.5mil USD) and cancelled them

HONGKONG LAND HOLDINGS LIMITED PROPOSED SHARE BUYBACK PROGRAMME

Hongkong Land Holdings Limited (the ‘Company’) today announces its intention to invest up to US$500 million in a
share buyback programme (the ‘Programme’) extending until 31st December 2022

https://links.sgx.com/FileOpen/HKLH0906....eID=682657
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#54
(07-09-2021, 07:48 PM)weijian Wrote: It is a no brainer that buying back much below NAV, is a net gain for remaining shareholders. HKL just made their first repurchase today (~1.5mil USD) and cancelled them

HONGKONG LAND HOLDINGS LIMITED PROPOSED SHARE BUYBACK PROGRAMME

Hongkong Land Holdings Limited (the ‘Company’) today announces its intention to invest up to US$500 million in a
share buyback programme (the ‘Programme’) extending until 31st December 2022

https://links.sgx.com/FileOpen/HKLH0906....eID=682657

I may be wrong. 

The last one was in 2018. US$132M of share buybacks at average price of US$6.95.


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#55
Share Repurchase

On 11 October 2021, Hongkong Land bought back 407,000 shares. The highest price paid was US$4.95, and the lowest price paid per share was US$4.90. The repurchased shares will be cancelled.

More details in https://links.sgx.com/1.0.0/corporate-an...LH1011.pdf

17th share repurchase since share buyback programme announcement on 6 September 2021.
Specuvestor: Asset - Business - Structure.
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