Announcement • May 02
Hongkong Land Holdings Limited Proposes Final Dividend for the Year 2025, Payable on 13 May 2026 Hongkong Land Holdings Limited proposed dividend will be paid on 13 May 2026, subject to approval at the Annual General Meeting. 2025 final dividend per share is US cents 19.00. GBP equivalent is 14.0605 pence. Announcement • Apr 29
Hongkong Land Holdings Limited to Report First Half, 2026 Results on Jul 28, 2026 Hongkong Land Holdings Limited announced that they will report first half, 2026 results on Jul 28, 2026 Reported Earnings • Apr 09
Full year 2025 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2025 results: EPS: US$0.58 (up from US$0.63 loss in FY 2024). Revenue: US$1.45b (down 28% from FY 2024). Net income: US$1.26b (up US$2.65b from FY 2024). Profit margin: 87% (up from net loss in FY 2024). Revenue missed analyst estimates by 16%. Earnings per share (EPS) exceeded analyst estimates by 129%. Revenue is forecast to grow 1.6% p.a. on average during the next 3 years, compared to a 2.1% growth forecast for the Real Estate industry in Singapore. Over the last 3 years on average, earnings per share has increased by 20% per year whereas the company’s share price has increased by 23% per year. Declared Dividend • Mar 08
Final dividend increased to US$0.19 Dividend of US$0.19 is 12% higher than last year. Ex-date: 19th March 2026 Payment date: 13th May 2026 Dividend yield will be 3.0%, which is lower than the industry average of 4.2%. Sustainability & Growth Dividend is covered by earnings (43% earnings payout ratio) but not covered by cash flows (128% cash payout ratio). The dividend has increased by an average of 2.8% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to decline by 6.3% over the next 3 years. However, it would need to fall by 52% to increase the payout ratio to a potentially unsustainable range. Reported Earnings • Mar 06
Full year 2025 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2025 results: EPS: US$0.58 (up from US$0.63 loss in FY 2024). Revenue: US$1.45b (down 28% from FY 2024). Net income: US$1.26b (up US$2.65b from FY 2024). Profit margin: 87% (up from net loss in FY 2024). Revenue missed analyst estimates by 16%. Earnings per share (EPS) exceeded analyst estimates by 129%. Revenue is forecast to grow 6.3% p.a. on average during the next 3 years, compared to a 2.3% growth forecast for the Real Estate industry in Singapore. Over the last 3 years on average, earnings per share has increased by 20% per year whereas the company’s share price has increased by 24% per year. Announcement • Mar 05
Hongkong Land Holdings Limited, Annual General Meeting, May 07, 2026 Hongkong Land Holdings Limited, Annual General Meeting, May 07, 2026. Announcement • Feb 04
Hongkong Land Holdings Limited Launches Singapore Central Private Real Estate Fund Hongkong Land Holdings Limited announced the successful launch of its inaugural private real estate fund, the Singapore Central Private Real Estate Fund ("SCPREF" or the "Fund"), with assets under management of S$8.2 billion (USD 6.4 billion) at inception. SCPREF is Singapore's office-focused private investment platform comprising best-in-class commercial assets, setting a new benchmark with its perpetual open-end fund structure. The establishment of SCPREF represents a significant milestone in the consistent execution of Hongkong Land's strategy announced in October 2024. The Fund recycles capital from Hongkong Land's prime real estate assets, in turn providing a platform to acquire new ultra-premium integrated commercial properties in Singapore. SCPREF also provides a foundational boost to Hongkong Land's target of USD 100 billion assets under management by 2035 through the formation of a third-party capital investment platform with leading global institutional investors. Hongkong Land will be the General Partner and Manager of the Fund, and hold a majority stake in SCPREF at inception, as a founding investor along with Qatar Investment Authority (QIA) and APG Asset Management (APG). Other investors in SCPREF include an established Southeast Asia sovereign wealth fund. Post-launch, SCPREF has an investment mandate to acquire additional high-quality, income-producing commercial assets in Singapore's Central Business District and Orchard Road District, reinforcing Hongkong Land's commitment to long-term value creation in Asian gateway cities. An ultra-premium, market-leading portfolio. SCPREF's initial portfolio comprises: Asia Square Tower 1 (100% interest); Marina Bay Financial Centre Tower 1 & Tower 2 and Marina Bay Link Mall (33 1/3 % interest); One Raffles Quay (33 1/3% interest); and and. The creation of SCPREF is a pivotal step in expanding Hongkong Land's capital management and investment platform. The establishment of SCPREF marks the launch of Hongkong Land's capital Management business, a strategic initiative to broaden its investment platform, growing resilient new fee income, and continuously attracting long-term institutional capital partners into its open-end core fund structure. Hongkong Land will act as fund manager, responsible for executing SCPREF's investment mandate, and as property manager, overseeing day-to-day operations. Drawing on its deep real estate experience, Hongkong Land will manage SCPREF's investments to create value and scale the fund over time. Accelerating capital recycling & extension of the buy-back programme. The launch of SCPREF, with its current committed capital, and the net proceeds from the sale of Marina Bay Financial Centre T3 has enabled Hongkong Land to receive net proceeds of USD 1.3 billion of capital, increasing the total proceeds from recycling activities since 2024 to USD 3.4 billion, over 80% of its 2027 USD 4 billion target. This additional recycled capital will be used to improve shareholder returns, strengthening the balance sheet as the Company looks for new investment opportunities aligned with its strategy. Additionally, the Company's share buyback programme will be used to improve shareholder return, strengthening the balance sheet as The Company looks for new investment opportunities align with its strategy. Additionally, The Company's share buyback programme would be used to improve shareholder returns. Price Target Changed • Feb 04
Price target increased by 12% to US$8.47 Up from US$7.53, the current price target is an average from 11 analysts. New target price is approximately in line with last closing price of US$8.62. Stock is up 100% over the past year. The company is forecast to post earnings per share of US$0.25 next year compared to a net loss per share of US$0.63 last year. Buy Or Sell Opportunity • Jan 14
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 33% to US$8.18. The fair value is estimated to be US$6.77, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 7.1% over the last 3 years. Meanwhile, the company became loss making. Announcement • Dec 12
Hongkong Land Holdings Limited Advances Strategy Via Inaugural Private Real Estate Fund In Singapore Hongkong Land Holdings Limited announced that it has made significant advancements towards the launch of its first private real estate fund - the Singapore Central Private Real Estate Fund (SCPREF). SCPREF is expected to be the largest Singapore private real estate fund with more than SGD 8,000 million of assets under management at inception. The fund will be solely focused on managing prime commercial property assets in Singapore, creating a unique private investment platform that will own and operate some of Singapore's most valuable real estate assets in terms of location, tenants, and resilience of rental income. SCPREF is expected to be seeded by Hongkong Land's Singapore commercial portfolio and other assets acquired by the fund on inception and over time, creating future growth in earnings and assets under management, as well as introducing a new earnings stream in terms of fee income for the Company. Prior to the transfer of the Company's interests in its Singapore commercial portfolio into SCPREF, in accordance with its contractual obligations, the Company has first offered its 33?% interests in One Raffles Quay (ORQ), Marina Bay Financial Centre Towers 1 and 2 (MBFC T1 and T2) and Marina Bay Financial Centre Tower 3 (MBFC T3) to its existing joint venture partners with a deadline of acceptance of 11 December 2025. Keppel REIT has agreed to acquire Hongkong Land's interest in MBFC T3, based on an attributable property value of approximately SGD 1,500 million (USD 1,100 million), 2% above Hongkong Land's independent valuation as of 30 June 2025. MBFC T3 provides close to 1,300,000 square feet of office space on a 100% basis. Net proceeds from the sale of MBFC T3 will increase Hongkong Land's total capital recycling achieved since 2024 to USD 2,800 million from USD 2,100 million, around 70% of its 2027 USD 4,000 million capital recycling target. As the pre-emptive offers for ORQ and MBFC T1 and T2 have now lapsed, Hongkong Land plans to transfer its interests in these assets into SCPREF together with its 100% interest in One Raffles Link (ORL). Combined, these assets have a total attributable property value of SGD 3,900 million (USD 3,000 million) as of 30 June 2025 and contribute approximately 3,200,000 square feet of prime office space in Singapore on a 100% basis. SCPREF is expected to launch with assets under management more than double that of Hongkong Land's seed portfolio. The level of equity commitments by third party capital investors into SCPREF is currently in the final stage of documentation. It is expected that these commitments, together with the sale proceeds from MBFC T3, will further support the Company's capital recycling strategic focus. The establishment of SCPREF is in line with the Company's strategy to grow its assets under management to USD 100,000 million by 2035, with meaningful participation from third-party capital investors. Singapore remains a core market for Hongkong Land, with the Company planning to use the capital recycled from the sale of MBFC T3 and SCPREF to further invest in ultra-premium integrated commercial properties in Singapore as it continues to execute on its strategy. A further announcement is expected to be made in the first quarter of 2026 on the fund establishment of SCPREF. Announcement • Oct 31
Hongkong Land Holdings Limited Announces Board Appointments, Effective November 1, 2025 Hongkong Land Holdings Limited announced that Alan Miyasaki will join the Board of the Company as an Independent Non-Executive Director and Lincoln Pan will join the Board as a Non-Executive Director, both with effect from November 1, 2025. Alan will also join the Audit Committee and both Alan and Lincoln will join the Investment Committee, with effect from the same date. Alan is a Senior Managing Director and Head of Real Estate Asia Acquisitions at Blackstone. Since 2007, Alan has helped drive the establishment and growth of Blackstone's Real Estate business in Asia. Lincoln's assumption of this role follows his appointment as CEO-designate of the Company's parent, Jardine Matheson Holdings Limited, with effect from the same date and as CEO from December 1, 2025. Lincoln was previously at PAG, the larger fully diversified alternative investment business in the Asia Pacific region, where he was a Partner and co-head of Private Equity and a member of the Group Executive Committee. Prior to that, he held the role of Chief Executive Officer, Greater China at Willis Towers Watson, served in executive roles at Advantage Partners and GE Capital, and worked at McKinsey & Company. In connection with the above appointment, Alan Miyasaki has held directorship in the following listed company in the past five years: Mindspace Business Parks REIT, Non-executive Director, resigned December 2021. In connection with the above appointment, Lincoln Pan has held directorships in the following listed companies in the past five years: Cushman & Wakefield, Non-executive Director, resigned March 2024; Regional Express Holdings Limited, Non-executive Director, resigned May 2025. Price Target Changed • Sep 20
Price target increased by 8.0% to US$6.87 Up from US$6.36, the current price target is an average from 12 analysts. New target price is approximately in line with last closing price of US$6.73. Stock is up 83% over the past year. The company is forecast to post earnings per share of US$0.27 next year compared to a net loss per share of US$0.63 last year. Upcoming Dividend • Aug 15
Upcoming dividend of US$0.06 per share Eligible shareholders must have bought the stock before 21 August 2025. Payment date: 15 October 2025. The company is not currently making a profit and its cash payout ratio is 97%. Trailing yield: 3.7%. Lower than top quartile of Singaporean dividend payers (5.6%). Higher than average of industry peers (3.3%). Announcement • Jul 31
Hongkong Land Holdings Limited Announces Interim Dividend, Payable on October 15, 2025 Hongkong Land Holdings Limited announced the interim dividend of USD 6.00 per share will be payable on 15 October 2025 to shareholders on the registers of members at the close of business on 22 August 2025. The shares will be quoted ex-dividend on 21 August 2025, and the share registers will be closed from 25 to 29 August 2025, inclusive. Declared Dividend • Jul 31
First half dividend of US$0.06 announced Shareholders will receive a dividend of US$0.06. Ex-date: 21st August 2025 Payment date: 15th October 2025 Dividend yield will be 3.8%, which is lower than the industry average of 4.2%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months. The dividend is also not adequately covered by cash flows (97% cash payout ratio). The dividend has increased by an average of 1.9% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Reported Earnings • Jul 30
First half 2025 earnings: EPS and revenues miss analyst expectations First half 2025 results: EPS: US$0.10 (up from US$0.38 loss in 1H 2024). Revenue: US$751.2m (down 23% from 1H 2024). Net income: US$220.9m (up US$1.05b from 1H 2024). Profit margin: 29% (up from net loss in 1H 2024). Revenue missed analyst estimates by 25%. Earnings per share (EPS) also missed analyst estimates by 28%. Revenue is forecast to grow 1.3% p.a. on average during the next 3 years, compared to a 1.4% decline forecast for the Real Estate industry in Singapore. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 87 percentage points per year, which is a significant difference in performance. Buy Or Sell Opportunity • Jun 30
Now 20% undervalued Over the last 90 days, the stock has risen 27% to US$5.77. The fair value is estimated to be US$7.22, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 7.0% over the last 3 years. Earnings per share has declined by 94%. Announcement • May 12
Hongkong Land Holdings Limited to Report First Half, 2025 Results on Jul 29, 2025 Hongkong Land Holdings Limited announced that they will report first half, 2025 results on Jul 29, 2025 Recent Insider Transactions • May 04
Insider recently sold US$2.9m worth of stock On the 29th of April, Yau Chung Wong sold around 630k shares on-market at roughly US$4.66 per share. This transaction amounted to 100% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of US$2.7m more than they bought in the last 12 months. Reported Earnings • Apr 09
Full year 2024 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2024 results: US$0.63 loss per share (further deteriorated from US$0.26 loss in FY 2023). Revenue: US$2.00b (up 8.6% from FY 2023). Net loss: US$1.38b (loss widened 138% from FY 2023). Revenue exceeded analyst estimates by 4.7%. Earnings per share (EPS) missed analyst estimates. Revenue is forecast to decline by 2.0% p.a. on average during the next 3 years, while revenues in the Real Estate industry in Singapore are expected to remain flat. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 87 percentage points per year, which is a significant difference in performance. Declared Dividend • Mar 10
Final dividend of US$0.17 announced Shareholders will receive a dividend of US$0.17. Ex-date: 20th March 2025 Payment date: 2nd May 2025 Dividend yield will be 5.3%, which is higher than the industry average of 4.2%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months. However, the dividend is covered by cash flows (86% cash payout ratio). The dividend has increased by an average of 2.5% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Reported Earnings • Mar 08
Full year 2024 earnings released: US$0.63 loss per share (vs US$0.26 loss in FY 2023) Full year 2024 results: US$0.63 loss per share (further deteriorated from US$0.26 loss in FY 2023). Revenue: US$2.00b (up 8.6% from FY 2023). Net loss: US$1.38b (loss widened 138% from FY 2023). Revenue is forecast to stay flat during the next 3 years, in line with the revenue forecast for the Real Estate industry in Singapore. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 90 percentage points per year, which is a significant difference in performance. Announcement • Mar 07
Hongkong Land Holdings Limited, Annual General Meeting, May 02, 2025 Hongkong Land Holdings Limited, Annual General Meeting, May 02, 2025. Buy Or Sell Opportunity • Dec 11
Now 21% undervalued Over the last 90 days, the stock has risen 22% to US$4.57. The fair value is estimated to be US$5.82, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 6.0% over the last 3 years. Earnings per share has declined by 8.5%. Buy Or Sell Opportunity • Nov 13
Now 21% undervalued Over the last 90 days, the stock has risen 27% to US$4.40. The fair value is estimated to be US$5.55, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 6.0% over the last 3 years. Earnings per share has declined by 8.5%. Announcement • Oct 28
Hongkong Land Holdings Limited Announces Board and Committee Changes Hongkong Land Holdings Limited announced John Witt will be appointed as Chair of the Board of the Company. He will succeed Ben Keswick who will step down as Chair and Director. John will be appointed as Chair of its Remuneration and Nominations Committees while Ben will step down from the same Committees. Christina Ong will step down from the Board. Following These Changes, the Composition of the Board Will Be: John Witt- Chairman; Michael Smith- Executive Director; Craig Beattie- Executive Director; Lily Jencks- Non-Executive Director; Adam Keswick- Non-Executive Director; Stuart Grant- Independent Non-Executive Director; Lincoln Leong- Independent Non-Executive Director; Ming Mei- Independent Non-Executive Director. Ming Mei, who joined the Board on 10 October 2024, will be appointed to the Company's Remuneration and Nominations Committees, while Graham Baker will step down from the Remuneration Committee, and Adam Keswick will step down from the Nominations Committee. Announcement • Oct 10
Hongkong Land Holdings Limited Appoints Ming Z. Mei as an Independent Non-Executive Director Hongkong Land Holdings Limited announced that Ming Z. Mei will join the Board of the Company as an Independent Non-Executive Director with effect from 10 October 2024. Ming Z. Mei is Co-Founder and CEO of GLP, a leading global business builder, owner, developer and operator of logistics real estate, data centres, renewable energy and related technologies. Ming co-founded Eastern Bell Venture Capital and sits on various public and private boards. He is also an investor and board member of Value Retail China, a company specialising in the development and operation of luxury outlet shopping villages. In connection with the above appointment, the Company advises that Ming Z. Mei has held directorships in the following listed companies in the past five years: ANTA Sports Products Ltd- Executive Independent Director from 1 March 2019 to 1 November 2020; Vantone Neo Development Group Co. Ltd. Director /Board Member from 28 May 2020 to 30 June 2022. Upcoming Dividend • Aug 18
Upcoming dividend of US$0.06 per share Eligible shareholders must have bought the stock before 22 August 2024. Payment date: 16 October 2024. The company is not currently making a profit but it is cash flow positive. Trailing yield: 6.3%. Within top quartile of Singaporean dividend payers (6.3%). Higher than average of industry peers (4.5%). Declared Dividend • Aug 03
First half dividend of US$0.06 announced Dividend of US$0.06 is the same as last year. Ex-date: 22nd August 2024 Payment date: 16th October 2024 Dividend yield will be 6.9%, which is higher than the industry average of 4.2%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months. However, the dividend is covered by cash flows (72% cash payout ratio). The dividend has increased by an average of 2.0% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Reported Earnings • Aug 02
First half 2024 earnings released: US$0.38 loss per share (vs US$0.15 loss in 1H 2023) First half 2024 results: US$0.38 loss per share (further deteriorated from US$0.15 loss in 1H 2023). Revenue: US$972.4m (up 45% from 1H 2023). Net loss: US$833.0m (loss widened 150% from 1H 2023). Revenue is forecast to grow 1.3% p.a. on average during the next 3 years, compared to a 1.5% growth forecast for the Real Estate industry in Singapore. Over the last 3 years on average, earnings per share has fallen by 9% per year whereas the company’s share price has fallen by 10% per year. Announcement • May 25
Hongkong Land Holdings Limited Provides Earnings Guidance for the Full Year 2024 Hongkong Land Holdings Limited provided earnings guidance for the full year 2024. for the year, the company expects contracted sales to be lower than 2023 levels. Reported Earnings • Apr 11
Full year 2023 earnings: EPS and revenues miss analyst expectations Full year 2023 results: US$0.26 loss per share (down from US$0.09 profit in FY 2022). Revenue: US$1.84b (down 18% from FY 2022). Net loss: US$582.3m (down 387% from profit in FY 2022). Revenue missed analyst estimates by 6.8%. Earnings per share (EPS) were also behind analyst expectations. Revenue is forecast to grow 5.5% p.a. on average during the next 3 years, compared to a 1.4% growth forecast for the Real Estate industry in Singapore. Over the last 3 years on average, earnings per share has increased by 74% per year but the company’s share price has fallen by 15% per year, which means it is significantly lagging earnings. Upcoming Dividend • Mar 14
Upcoming dividend of US$0.16 per share Eligible shareholders must have bought the stock before 21 March 2024. Payment date: 15 May 2024. The company is not currently making a profit and its cash payout ratio is 79%. Trailing yield: 6.8%. Within top quartile of Singaporean dividend payers (6.4%). Higher than average of industry peers (4.3%). Declared Dividend • Mar 09
Final dividend of US$0.16 announced Dividend of US$0.16 is the same as last year. Ex-date: 21st March 2024 Payment date: 15th May 2024 Dividend yield will be 6.8%, which is higher than the industry average of 4.2%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months. However, the dividend is covered by cash flows (79% cash payout ratio). The dividend has increased by an average of 2.6% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Announcement • Mar 08
Hongkong Land Holdings Limited, Annual General Meeting, May 08, 2024 Hongkong Land Holdings Limited, Annual General Meeting, May 08, 2024. Agenda: To consider a final dividend of US¢16 per share. Reported Earnings • Mar 08
Full year 2023 earnings: EPS and revenues miss analyst expectations Full year 2023 results: US$0.26 loss per share (down from US$0.09 profit in FY 2022). Revenue: US$1.84b (down 18% from FY 2022). Net loss: US$582.3m (down 387% from profit in FY 2022). Revenue missed analyst estimates by 6.8%. Earnings per share (EPS) were also behind analyst expectations. Revenue is forecast to grow 6.1% p.a. on average during the next 3 years, while revenues in the Real Estate industry in Singapore are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 74% per year but the company’s share price has fallen by 14% per year, which means it is significantly lagging earnings. Announcement • Nov 25
Anthony Nightingale to Step Down from the Board and Yiu Kai Pang from the Board, the Audit Committee and the Remuneration Committee of Hongkong Land Holdings Limited with Effect from January 31, 2024 Hongkong Land Holdings Limited announced that Anthony Nightingale will step down from the Board of the Company with effect from January 31, 2024. The Company also announced that Yiu Kai Pang will also step down from the Board, the Audit Committee and the Remuneration Committee of the Company, in each case, with effect from January 31, 2024. Announcement • Nov 23
Hongkong Land Holdings Limited Announces CEO Changes Hongkong Land Holdings Limited announced that Michael Smith has been appointed Chief Executive of Hongkong Land Holdings Limited with effect from 1 April 2024. He will succeed Robert Wong who has been the Chief Executive of Hongkong Land since 2016. Michael is currently the Regional Chief Executive Officer of Europe and the US at Mapletree Investments, headquartered in Singapore. During his nearly seven years at Mapletree, Michael has been responsible for growing the group's new and existing businesses in Europe and the US, and accountable for overall operating performance. Under Michael's leadership, the Europe and US portfolio has grown to account for over a third of the group's assets under management, across diversified asset classes including logistics, data centres, business parks and student housing. In addition to building scale, Michael has been responsible for monetising assets into public and private vehicles, while leading a large team of professionals across multiple jurisdictions. Prior to joining Mapletree, Michael was a Partner at Goldman Sachs, and led the bank's Southeast Asia investment banking, as well as Asia Pacific (ex-Japan) real estate businesses. Altogether, Michael brings 30 years of real estate, capital markets and investment banking experience. Robert will retire from his role as Chief Executive on 31st March 2024. Robert will continue as a senior advisor to ensure a smooth leadership transition. Michael will relocate to Hong Kong with his wife and children. Michael Smith has held a directorship in the following listed company in the past five years: Mapletree Industrial Trust Management Ltd., as Manager of the Mapletree Industrial Trust- Non-Executive Director- 15 December 2019 to date. Announcement • Nov 10
Hongkong Land Holdings Limited Provides Earnings Guidance for the Full Year 2023 Hongkong Land Holdings Limited provided earnings guidance for the full year 2023. for the year, the company expects underlying profits to be moderately below the prior year. This is primarily due to a change in the timing of residential sales completions at West Bund, Shanghai, which will result in the profits from this part of the project moving to the first half of 2024, and write-downs in the investment value of two residential projects in Wuhan due to weaker than expected local market conditions. Announcement • Sep 28
Hongkong Land Holdings Limited Announces 2023 Interim Dividend, Payable on October 11, 2023 Hongkong Land Holdings Limited announced 2023 interim dividend of 6.00 US Cents, GBP equivalent 4.9373 pence. The dividend will be payable on October 11, 2023. Upcoming Dividend • Aug 10
Upcoming dividend of US$0.06 per share at 6.1% yield Eligible shareholders must have bought the stock before 17 August 2023. Payment date: 11 October 2023. The company is not currently making a profit but it is cash flow positive. Trailing yield: 6.1%. Lower than top quartile of Singaporean dividend payers (6.3%). Higher than average of industry peers (3.9%). Price Target Changed • Aug 02
Price target decreased by 8.0% to US$4.54 Down from US$4.93, the current price target is an average from 11 analysts. New target price is 25% above last closing price of US$3.62. Stock is down 31% over the past year. The company is forecast to post earnings per share of US$0.36 for next year compared to US$0.09 last year. Reported Earnings • Jul 30
First half 2023 earnings: EPS in line with expectations, revenues disappoint First half 2023 results: US$0.15 loss per share (down from US$0.13 profit in 1H 2022). Revenue: US$670.3m (down 25% from 1H 2022). Net loss: US$333.0m (down 214% from profit in 1H 2022). Revenue missed analyst estimates by 44%. Earnings per share (EPS) were also behind analyst expectations. Revenue is forecast to grow 6.8% p.a. on average during the next 3 years, compared to a 4.1% growth forecast for the Real Estate industry in Singapore. Over the last 3 years on average, earnings per share has increased by 91% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Announcement • Jul 29
Hongkong Land Holdings Limited Announces the Interim Dividend, Payable on October 11, 2023 Hongkong Land Holdings Limited announced the interim dividend of 6.00 US cents per share will be payable on 11th October 2023 to shareholders on the register of members at the close of business on 18 August 2023. The shares will be quoted ex-dividend on 17th August 2023, and the share registers will be closed from 21st to 25th August 2023, inclusive. Recent Insider Transactions • Jun 29
Chief Executive & Executive Director recently bought US$920k worth of stock On the 28th of June, Yau Chung Wong bought around 230k shares on-market at roughly US$4.00 per share. This transaction amounted to 57% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Yau Chung's only on-market trade for the last 12 months. Announcement • May 10
Hongkong Land Holdings Limited Announces Prijono Sugiarto to be Stepping Down from the Board, Effective from 18 May 2023 Hongkong Land Holdings Limited announced that Prijono Sugiarto will be stepping down from the Board of the Company with effect from 18th May 2023, and would like to thank him for his contribution to the Company. Upcoming Dividend • Mar 09
Upcoming dividend of US$0.16 per share at 4.9% yield Eligible shareholders must have bought the stock before 16 March 2023. Payment date: 10 May 2023. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 4.9%. Lower than top quartile of Singaporean dividend payers (6.5%). Higher than average of industry peers (3.7%). Reported Earnings • Mar 03
Full year 2022 earnings released: EPS: US$0.09 (vs US$0.15 loss in FY 2021) Full year 2022 results: EPS: US$0.09 (up from US$0.15 loss in FY 2021). Revenue: US$2.24b (down 5.9% from FY 2021). Net income: US$202.7m (up US$551.9m from FY 2021). Profit margin: 9.0% (up from net loss in FY 2021). Revenue is forecast to grow 3.4% p.a. on average during the next 3 years, compared to a 3.7% growth forecast for the Real Estate industry in Singapore. Over the last 3 years on average, earnings per share has increased by 61% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Buying Opportunity • Mar 03
Now 22% undervalued Over the last 90 days, the stock is up 8.6%. The fair value is estimated to be US$5.78, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Board Change • Nov 16
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 5 independent directors. 7 non-independent directors. Independent Non-Executive Director Lincoln Leong was the last independent director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Upcoming Dividend • Aug 11
Upcoming dividend of US$0.06 per share Eligible shareholders must have bought the stock before 18 August 2022. Payment date: 12 October 2022. Payout ratio is a comfortable 63% but the company is not cash flow positive. Trailing yield: 4.3%. Lower than top quartile of Singaporean dividend payers (5.9%). Higher than average of industry peers (3.0%). 
