HongKong Land – Good investment at 67% discount to book?
#1
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I’m going to give HongKong Land a 3 Financial Horse rating. I really like the company, for it’s great property portfolio, fantastic balance sheet, and dirt cheap valuation.But in investing, the timing matters as well. And I’m not so sure if now’s the right time to be buying into Hong Kong property.

https://financialhorse.com/hongkong-land-review/
It’s just one big farking world for one human kind.
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#2
Laughing
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#3
I have already evaluated it.

Highly geared cashflow is relatively weak relative to large asset holding. Still discount to assets is real but since it is highly geared moderate down move on asset prices can wipe out this discount.

Actually the most shareholder friendly thing this company can do is degear by selling off assets...that is the trigger for massive upside.

Overall...not best buy around but okay to invest. I have done it. I bought a tiny amount on 15 Aug 2019. Have been assessing the coming and waiting since 2017. Finally ...though regretfully it was the HK protest that brought it down to levels i would buy.

[Image: 9tTCsdI.png]
I, being poor, have only my dreams;
I will do my utmost to keep them alive.
Against tyrants and adversity, I will strive.
Together, a better future, we will realise......
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#4
13-10-2019 9:43 AM
sgbuffett said:
I have already evaluated it.

Highly geared cashflow is relatively weak relative to large asset holding. Still discount to assets is real but since it is highly geared moderate down move on asset prices can wipe out this discount.

Actually the most shareholder friendly thing this company can do is degear by selling off assets...that is the trigger for massive upside.

Overall...not best buy around but okay to invest. I have done it. I bought a tiny amount on 15 Aug 2019. Have been assessing the coming and waiting since 2017. Finally ...though regretfully it was the HK protest that brought it down to levels i would buy.

[Image: 9tTCsdI.png]

Not sure what you mean by highly geared, but what i researched is 10% only.
It’s just one big farking world for one human kind.
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#5
13-10-2019 10:02 AM
Oneworld said:
Not sure what you mean by highly geared, but what i researched is 10% only.

I was referring to debt to free cashflow...to look at serviceability.
I, being poor, have only my dreams;
I will do my utmost to keep them alive.
Against tyrants and adversity, I will strive.
Together, a better future, we will realise......
Quote
#6
13-10-2019 10:14 AM
sgbuffett said:
I was referring to debt to free cashflow...to look at serviceability.

Dont talkcock lah u ..k#@ ..today u not working? Or kena sacked?
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#7
13-10-2019 10:48 AM
EXBB said:
Dont talkcock lah u ..k#@ ..today u not working? Or kena sacked?
Everyday working...why?
I, being poor, have only my dreams;
I will do my utmost to keep them alive.
Against tyrants and adversity, I will strive.
Together, a better future, we will realise......
Quote
#8
13-10-2019 10:53 AM
sgbuffett said:
Everyday working...why?
U working or kena whacked n sacked?
[Image: 2dtrb6v.jpg]
[Image: 20r9tll.jpg]
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#9
13-10-2019 10:54 AM
EXBB said:
U working or kena whacked n sacked?

Working for myself....can sack and whack myself?...
I, being poor, have only my dreams;
I will do my utmost to keep them alive.
Against tyrants and adversity, I will strive.
Together, a better future, we will realise......
Quote
#10
Laughing
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