Wheelock and Company (00020.HK)

Thread Rating:
  • 0 Vote(s) - 0 Average
  • 1
  • 2
  • 3
  • 4
  • 5
#1
Hong Kong’s Red-Hot Housing Market Shows No Signs of Cooling

By Frederik Balfour
March 12, 2018, 11:37 AM GMT+8 Updated on March 12, 2018, 6:15 PM GMT+8

Demand in Hong Kong’s red-hot housing market shows no signs of abating, with Wheelock & Co. selling all 750 apartments offered at its new Kowloon project over the weekend.

Based on buyers’ enthusiasm for the project, where 9,800 applications were made for the 750 units, Wheelock is likely to announce the launch of a further 300 to 400 apartments on Tuesday, said Ken Lee, senior principal regional sales director at Centaline Property Agency Ltd. Wheelock realized about HK$8.1 billion ($1.03 billion) in sales, he said.

Prices for the next batch of units may rise 5 percent to 8 percent, to as much as HK$15,500 per square foot, Lee said. Wheelock Chairman Douglas Woo said during a press conference Monday that the firm will release 160 additional flats for sale this week, after “favorable response from customers.”

Wheelock last week agreed to buy a plot of land near the former Kai Tak airport from embattled conglomerate HNA Group Co. for HK$6.36 billion. The chairman said Monday that the firm is interested in bidding for the final site from HNA if it’s priced at market rate.

More details in https://www.bloomberg.com/news/articles/...s-sell-out
Specuvestor: Asset - Business - Structure.
Reply
#1
Hong Kong’s Red-Hot Housing Market Shows No Signs of Cooling

By Frederik Balfour
March 12, 2018, 11:37 AM GMT+8 Updated on March 12, 2018, 6:15 PM GMT+8

Demand in Hong Kong’s red-hot housing market shows no signs of abating, with Wheelock & Co. selling all 750 apartments offered at its new Kowloon project over the weekend.

Based on buyers’ enthusiasm for the project, where 9,800 applications were made for the 750 units, Wheelock is likely to announce the launch of a further 300 to 400 apartments on Tuesday, said Ken Lee, senior principal regional sales director at Centaline Property Agency Ltd. Wheelock realized about HK$8.1 billion ($1.03 billion) in sales, he said.

Prices for the next batch of units may rise 5 percent to 8 percent, to as much as HK$15,500 per square foot, Lee said. Wheelock Chairman Douglas Woo said during a press conference Monday that the firm will release 160 additional flats for sale this week, after “favorable response from customers.”

Wheelock last week agreed to buy a plot of land near the former Kai Tak airport from embattled conglomerate HNA Group Co. for HK$6.36 billion. The chairman said Monday that the firm is interested in bidding for the final site from HNA if it’s priced at market rate.

More details in https://www.bloomberg.com/news/articles/...s-sell-out
Specuvestor: Asset - Business - Structure.
Reply
#2
(12-03-2018, 06:58 PM)cyclone Wrote: Hong Kong’s Red-Hot Housing Market Shows No Signs of Cooling

By Frederik Balfour
March 12, 2018, 11:37 AM GMT+8 Updated on March 12, 2018, 6:15 PM GMT+8

Demand in Hong Kong’s red-hot housing market shows no signs of abating, with Wheelock & Co. selling all 750 apartments offered at its new Kowloon project over the weekend.

Based on buyers’ enthusiasm for the project, where 9,800 applications were made for the 750 units, Wheelock is likely to announce the launch of a further 300 to 400 apartments on Tuesday, said Ken Lee, senior principal regional sales director at Centaline Property Agency Ltd. Wheelock realized about HK$8.1 billion ($1.03 billion) in sales, he said.

Prices for the next batch of units may rise 5 percent to 8 percent, to as much as HK$15,500 per square foot, Lee said. Wheelock Chairman Douglas Woo said during a press conference Monday that the firm will release 160 additional flats for sale this week, after “favorable response from customers.”

Wheelock last week agreed to buy a plot of land near the former Kai Tak airport from embattled conglomerate HNA Group Co. for HK$6.36 billion. The chairman said Monday that the firm is interested in bidding for the final site from HNA if it’s priced at market rate.

More details in https://www.bloomberg.com/news/articles/...s-sell-out

Wheelock and Co is another deep value stock with very strong recurring income(recurring income alone already giving them 13x pe) and consistent dividend increment yearly. I believe its the biggest IP owner(Harbour City, Crawford House, Wheelock hse etc) in HK with many 999 lease hold prizes assets.

Wheelock and Co owns 62% of Wharf collective(Wharf holding + Wharf Reic)

At current price of $85 for Wharf collective(Wharf holding + Wharf Reic), it should theoretically be $78 per share in Wheelock & Co sotp 

Wheelock and co is currently trading at only $60.80(last done price)

Which means Wheelock's stake in Wharf cannot even be accounted for at current price they are trading at.

Which means their stake in Wheelock prop sg(76.2% owned), Wheelock prop HK(100% owned) and HPL are all free.
Reply
#2
(12-03-2018, 06:58 PM)cyclone Wrote: Hong Kong’s Red-Hot Housing Market Shows No Signs of Cooling

By Frederik Balfour
March 12, 2018, 11:37 AM GMT+8 Updated on March 12, 2018, 6:15 PM GMT+8

Demand in Hong Kong’s red-hot housing market shows no signs of abating, with Wheelock & Co. selling all 750 apartments offered at its new Kowloon project over the weekend.

Based on buyers’ enthusiasm for the project, where 9,800 applications were made for the 750 units, Wheelock is likely to announce the launch of a further 300 to 400 apartments on Tuesday, said Ken Lee, senior principal regional sales director at Centaline Property Agency Ltd. Wheelock realized about HK$8.1 billion ($1.03 billion) in sales, he said.

Prices for the next batch of units may rise 5 percent to 8 percent, to as much as HK$15,500 per square foot, Lee said. Wheelock Chairman Douglas Woo said during a press conference Monday that the firm will release 160 additional flats for sale this week, after “favorable response from customers.”

Wheelock last week agreed to buy a plot of land near the former Kai Tak airport from embattled conglomerate HNA Group Co. for HK$6.36 billion. The chairman said Monday that the firm is interested in bidding for the final site from HNA if it’s priced at market rate.

More details in https://www.bloomberg.com/news/articles/...s-sell-out

Wheelock and Co is another deep value stock with very strong recurring income(recurring income alone already giving them 13x pe) and consistent dividend increment yearly. I believe its the biggest IP owner(Harbour City, Crawford House, Wheelock hse etc) in HK with many 999 lease hold prizes assets.

Wheelock and Co owns 62% of Wharf collective(Wharf holding + Wharf Reic)

At current price of $85 for Wharf collective(Wharf holding + Wharf Reic), it should theoretically be $78 per share in Wheelock & Co sotp 

Wheelock and co is currently trading at only $60.80(last done price)

Which means Wheelock's stake in Wharf cannot even be accounted for at current price they are trading at.

Which means their stake in Wheelock prop sg(76.2% owned), Wheelock prop HK(100% owned) and HPL are all free.
Reply
#3
(13-03-2018, 05:39 PM)Scg8866t Wrote:
(12-03-2018, 06:58 PM)cyclone Wrote: Hong Kong’s Red-Hot Housing Market Shows No Signs of Cooling

By Frederik Balfour
March 12, 2018, 11:37 AM GMT+8 Updated on March 12, 2018, 6:15 PM GMT+8

Demand in Hong Kong’s red-hot housing market shows no signs of abating, with Wheelock & Co. selling all 750 apartments offered at its new Kowloon project over the weekend.

Based on buyers’ enthusiasm for the project, where 9,800 applications were made for the 750 units, Wheelock is likely to announce the launch of a further 300 to 400 apartments on Tuesday, said Ken Lee, senior principal regional sales director at Centaline Property Agency Ltd. Wheelock realized about HK$8.1 billion ($1.03 billion) in sales, he said.

Prices for the next batch of units may rise 5 percent to 8 percent, to as much as HK$15,500 per square foot, Lee said. Wheelock Chairman Douglas Woo said during a press conference Monday that the firm will release 160 additional flats for sale this week, after “favorable response from customers.”

Wheelock last week agreed to buy a plot of land near the former Kai Tak airport from embattled conglomerate HNA Group Co. for HK$6.36 billion. The chairman said Monday that the firm is interested in bidding for the final site from HNA if it’s priced at market rate.

More details in https://www.bloomberg.com/news/articles/...s-sell-out

Wheelock and Co is another deep value stock with very strong recurring income(recurring income alone already giving them 13x pe) and consistent dividend increment yearly. I believe its the biggest IP owner(Harbour City, Crawford House, Wheelock hse etc) in HK with many 999 lease hold prizes assets.

Wheelock and Co owns 62% of Wharf collective(Wharf holding + Wharf Reic)

At current price of $85 for Wharf collective(Wharf holding + Wharf Reic), it should theoretically be $78 per share in Wheelock & Co sotp 

Wheelock and co is currently trading at only $60.80(last done price)

Which means Wheelock's stake in Wharf cannot even be accounted for at current price they are trading at.

Which means their stake in Wheelock prop sg(76.2% owned), Wheelock prop HK(100% owned) and HPL are all free.

Just can't figure out why share price stays at this level for so long despite great deep value being presented ?  Those who are selling know something that we don't ? Liquidity is not bad also ? Sorry for asking this question .

(Vested )
“risk comes from not knowing what you’re doing.”
I don’t look to jump over 7-foot bars: I look around for 1-foot bars that I can step over.
Reply
#3
(13-03-2018, 05:39 PM)Scg8866t Wrote:
(12-03-2018, 06:58 PM)cyclone Wrote: Hong Kong’s Red-Hot Housing Market Shows No Signs of Cooling

By Frederik Balfour
March 12, 2018, 11:37 AM GMT+8 Updated on March 12, 2018, 6:15 PM GMT+8

Demand in Hong Kong’s red-hot housing market shows no signs of abating, with Wheelock & Co. selling all 750 apartments offered at its new Kowloon project over the weekend.

Based on buyers’ enthusiasm for the project, where 9,800 applications were made for the 750 units, Wheelock is likely to announce the launch of a further 300 to 400 apartments on Tuesday, said Ken Lee, senior principal regional sales director at Centaline Property Agency Ltd. Wheelock realized about HK$8.1 billion ($1.03 billion) in sales, he said.

Prices for the next batch of units may rise 5 percent to 8 percent, to as much as HK$15,500 per square foot, Lee said. Wheelock Chairman Douglas Woo said during a press conference Monday that the firm will release 160 additional flats for sale this week, after “favorable response from customers.”

Wheelock last week agreed to buy a plot of land near the former Kai Tak airport from embattled conglomerate HNA Group Co. for HK$6.36 billion. The chairman said Monday that the firm is interested in bidding for the final site from HNA if it’s priced at market rate.

More details in https://www.bloomberg.com/news/articles/...s-sell-out

Wheelock and Co is another deep value stock with very strong recurring income(recurring income alone already giving them 13x pe) and consistent dividend increment yearly. I believe its the biggest IP owner(Harbour City, Crawford House, Wheelock hse etc) in HK with many 999 lease hold prizes assets.

Wheelock and Co owns 62% of Wharf collective(Wharf holding + Wharf Reic)

At current price of $85 for Wharf collective(Wharf holding + Wharf Reic), it should theoretically be $78 per share in Wheelock & Co sotp 

Wheelock and co is currently trading at only $60.80(last done price)

Which means Wheelock's stake in Wharf cannot even be accounted for at current price they are trading at.

Which means their stake in Wheelock prop sg(76.2% owned), Wheelock prop HK(100% owned) and HPL are all free.

Just can't figure out why share price stays at this level for so long despite great deep value being presented ?  Those who are selling know something that we don't ? Liquidity is not bad also ? Sorry for asking this question .

(Vested )
“risk comes from not knowing what you’re doing.”
I don’t look to jump over 7-foot bars: I look around for 1-foot bars that I can step over.
Reply
#4
(16-03-2018, 08:17 PM)cfa Wrote:
(13-03-2018, 05:39 PM)Scg8866t Wrote:
(12-03-2018, 06:58 PM)cyclone Wrote: Hong Kong’s Red-Hot Housing Market Shows No Signs of Cooling

By Frederik Balfour
March 12, 2018, 11:37 AM GMT+8 Updated on March 12, 2018, 6:15 PM GMT+8

Demand in Hong Kong’s red-hot housing market shows no signs of abating, with Wheelock & Co. selling all 750 apartments offered at its new Kowloon project over the weekend.

Based on buyers’ enthusiasm for the project, where 9,800 applications were made for the 750 units, Wheelock is likely to announce the launch of a further 300 to 400 apartments on Tuesday, said Ken Lee, senior principal regional sales director at Centaline Property Agency Ltd. Wheelock realized about HK$8.1 billion ($1.03 billion) in sales, he said.

Prices for the next batch of units may rise 5 percent to 8 percent, to as much as HK$15,500 per square foot, Lee said. Wheelock Chairman Douglas Woo said during a press conference Monday that the firm will release 160 additional flats for sale this week, after “favorable response from customers.”

Wheelock last week agreed to buy a plot of land near the former Kai Tak airport from embattled conglomerate HNA Group Co. for HK$6.36 billion. The chairman said Monday that the firm is interested in bidding for the final site from HNA if it’s priced at market rate.

More details in https://www.bloomberg.com/news/articles/...s-sell-out

Wheelock and Co is another deep value stock with very strong recurring income(recurring income alone already giving them 13x pe) and consistent dividend increment yearly. I believe its the biggest IP owner(Harbour City, Crawford House, Wheelock hse etc) in HK with many 999 lease hold prizes assets.

Wheelock and Co owns 62% of Wharf collective(Wharf holding + Wharf Reic)

At current price of $85 for Wharf collective(Wharf holding + Wharf Reic), it should theoretically be $78 per share in Wheelock & Co sotp 

Wheelock and co is currently trading at only $60.80(last done price)

Which means Wheelock's stake in Wharf cannot even be accounted for at current price they are trading at.

Which means their stake in Wheelock prop sg(76.2% owned), Wheelock prop HK(100% owned) and HPL are all free.

Just can't figure out why share price stays at this level for so long despite great deep value being presented ?  Those who are selling know something that we don't ? Liquidity is not bad also ? Sorry for asking this question .

(Vested )

Conglomerate discount and split management disc. Wheelock and co and wharf collective have two separate management. Share price have moved up quite substantial if we look at yearly chart, but yes price is still irrational. I see wheelock and wharf holding as a very clear overlap, maybe after phase two of their reatructuring, when wharf holding gets acquired by wheelock will we see a more correlated pricing. 

With their amazing bottom line/equity growth yearly and it being a dividend aristocrat, I dont mind holding this long term and wait for its full value to be unlocked. Own view.
Reply
#4
(16-03-2018, 08:17 PM)cfa Wrote:
(13-03-2018, 05:39 PM)Scg8866t Wrote:
(12-03-2018, 06:58 PM)cyclone Wrote: Hong Kong’s Red-Hot Housing Market Shows No Signs of Cooling

By Frederik Balfour
March 12, 2018, 11:37 AM GMT+8 Updated on March 12, 2018, 6:15 PM GMT+8

Demand in Hong Kong’s red-hot housing market shows no signs of abating, with Wheelock & Co. selling all 750 apartments offered at its new Kowloon project over the weekend.

Based on buyers’ enthusiasm for the project, where 9,800 applications were made for the 750 units, Wheelock is likely to announce the launch of a further 300 to 400 apartments on Tuesday, said Ken Lee, senior principal regional sales director at Centaline Property Agency Ltd. Wheelock realized about HK$8.1 billion ($1.03 billion) in sales, he said.

Prices for the next batch of units may rise 5 percent to 8 percent, to as much as HK$15,500 per square foot, Lee said. Wheelock Chairman Douglas Woo said during a press conference Monday that the firm will release 160 additional flats for sale this week, after “favorable response from customers.”

Wheelock last week agreed to buy a plot of land near the former Kai Tak airport from embattled conglomerate HNA Group Co. for HK$6.36 billion. The chairman said Monday that the firm is interested in bidding for the final site from HNA if it’s priced at market rate.

More details in https://www.bloomberg.com/news/articles/...s-sell-out

Wheelock and Co is another deep value stock with very strong recurring income(recurring income alone already giving them 13x pe) and consistent dividend increment yearly. I believe its the biggest IP owner(Harbour City, Crawford House, Wheelock hse etc) in HK with many 999 lease hold prizes assets.

Wheelock and Co owns 62% of Wharf collective(Wharf holding + Wharf Reic)

At current price of $85 for Wharf collective(Wharf holding + Wharf Reic), it should theoretically be $78 per share in Wheelock & Co sotp 

Wheelock and co is currently trading at only $60.80(last done price)

Which means Wheelock's stake in Wharf cannot even be accounted for at current price they are trading at.

Which means their stake in Wheelock prop sg(76.2% owned), Wheelock prop HK(100% owned) and HPL are all free.

Just can't figure out why share price stays at this level for so long despite great deep value being presented ?  Those who are selling know something that we don't ? Liquidity is not bad also ? Sorry for asking this question .

(Vested )

Conglomerate discount and split management disc. Wheelock and co and wharf collective have two separate management. Share price have moved up quite substantial if we look at yearly chart, but yes price is still irrational. I see wheelock and wharf holding as a very clear overlap, maybe after phase two of their reatructuring, when wharf holding gets acquired by wheelock will we see a more correlated pricing. 

With their amazing bottom line/equity growth yearly and it being a dividend aristocrat, I dont mind holding this long term and wait for its full value to be unlocked. Own view.
Reply
#5
(13-03-2018, 05:39 PM)Scg8866t Wrote:
(12-03-2018, 06:58 PM)cyclone Wrote: Hong Kong’s Red-Hot Housing Market Shows No Signs of Cooling

By Frederik Balfour
March 12, 2018, 11:37 AM GMT+8 Updated on March 12, 2018, 6:15 PM GMT+8

Demand in Hong Kong’s red-hot housing market shows no signs of abating, with Wheelock & Co. selling all 750 apartments offered at its new Kowloon project over the weekend.

Based on buyers’ enthusiasm for the project, where 9,800 applications were made for the 750 units, Wheelock is likely to announce the launch of a further 300 to 400 apartments on Tuesday, said Ken Lee, senior principal regional sales director at Centaline Property Agency Ltd. Wheelock realized about HK$8.1 billion ($1.03 billion) in sales, he said.

Prices for the next batch of units may rise 5 percent to 8 percent, to as much as HK$15,500 per square foot, Lee said. Wheelock Chairman Douglas Woo said during a press conference Monday that the firm will release 160 additional flats for sale this week, after “favorable response from customers.”

Wheelock last week agreed to buy a plot of land near the former Kai Tak airport from embattled conglomerate HNA Group Co. for HK$6.36 billion. The chairman said Monday that the firm is interested in bidding for the final site from HNA if it’s priced at market rate.

More details in https://www.bloomberg.com/news/articles/...s-sell-out

Wheelock and Co is another deep value stock with very strong recurring income(recurring income alone already giving them 13x pe) and consistent dividend increment yearly. I believe its the biggest IP owner(Harbour City, Crawford House, Wheelock hse etc) in HK with many 999 lease hold prizes assets.

Wheelock and Co owns 62% of Wharf collective(Wharf holding + Wharf Reic)

At current price of $85 for Wharf collective(Wharf holding + Wharf Reic), it should theoretically be $78 per share in Wheelock & Co sotp 

Wheelock and co is currently trading at only $60.80(last done price)

Which means Wheelock's stake in Wharf cannot even be accounted for at current price they are trading at.

Which means their stake in Wheelock prop sg(76.2% owned), Wheelock prop HK(100% owned) and HPL are all free.

Gxgx all. Wheelock and CO privatising. up 40%, Paying 1 wharf reic and 1 wharf holding out plus $12 cash
Reply
#5
(13-03-2018, 05:39 PM)Scg8866t Wrote:
(12-03-2018, 06:58 PM)cyclone Wrote: Hong Kong’s Red-Hot Housing Market Shows No Signs of Cooling

By Frederik Balfour
March 12, 2018, 11:37 AM GMT+8 Updated on March 12, 2018, 6:15 PM GMT+8

Demand in Hong Kong’s red-hot housing market shows no signs of abating, with Wheelock & Co. selling all 750 apartments offered at its new Kowloon project over the weekend.

Based on buyers’ enthusiasm for the project, where 9,800 applications were made for the 750 units, Wheelock is likely to announce the launch of a further 300 to 400 apartments on Tuesday, said Ken Lee, senior principal regional sales director at Centaline Property Agency Ltd. Wheelock realized about HK$8.1 billion ($1.03 billion) in sales, he said.

Prices for the next batch of units may rise 5 percent to 8 percent, to as much as HK$15,500 per square foot, Lee said. Wheelock Chairman Douglas Woo said during a press conference Monday that the firm will release 160 additional flats for sale this week, after “favorable response from customers.”

Wheelock last week agreed to buy a plot of land near the former Kai Tak airport from embattled conglomerate HNA Group Co. for HK$6.36 billion. The chairman said Monday that the firm is interested in bidding for the final site from HNA if it’s priced at market rate.

More details in https://www.bloomberg.com/news/articles/...s-sell-out

Wheelock and Co is another deep value stock with very strong recurring income(recurring income alone already giving them 13x pe) and consistent dividend increment yearly. I believe its the biggest IP owner(Harbour City, Crawford House, Wheelock hse etc) in HK with many 999 lease hold prizes assets.

Wheelock and Co owns 62% of Wharf collective(Wharf holding + Wharf Reic)

At current price of $85 for Wharf collective(Wharf holding + Wharf Reic), it should theoretically be $78 per share in Wheelock & Co sotp 

Wheelock and co is currently trading at only $60.80(last done price)

Which means Wheelock's stake in Wharf cannot even be accounted for at current price they are trading at.

Which means their stake in Wheelock prop sg(76.2% owned), Wheelock prop HK(100% owned) and HPL are all free.

Gxgx all. Wheelock and CO privatising. up 40%, Paying 1 wharf reic and 1 wharf holding out plus $12 cash
Reply
#6
Congrats! Most people think it's Wharf privatising so this was quite a surprise with a complex takeover structure. They seem very keen to use REIC as currency after just spinning off slightly more than 2 years ago
Before you speak, listen. Before you write, think. Before you spend, earn. Before you invest, investigate. Before you criticize, wait. Before you pray, forgive. Before you quit, try. Before you retire, save. Before you die, give. –William A. Ward

Think Asset-Business-Structure (ABS)
Reply
#6
Congrats! Most people think it's Wharf privatising so this was quite a surprise with a complex takeover structure. They seem very keen to use REIC as currency after just spinning off slightly more than 2 years ago
Before you speak, listen. Before you write, think. Before you spend, earn. Before you invest, investigate. Before you criticize, wait. Before you pray, forgive. Before you quit, try. Before you retire, save. Before you die, give. –William A. Ward

Think Asset-Business-Structure (ABS)
Reply


Forum Jump:


Users browsing this thread: 1 Guest(s)