Singapore Stock Market News

Hongkong Land - Still on solid grounds

StockFanatic
Publish date: Mon, 09 Mar 2015, 02:13 PM
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■ FY14 beat by 4% on higher-than-expected contributions from investment property. Cut FY15E EPS by 2.8% and raise FY16E EPS by 5.9%.

■ 5.4% vacancy rate for HK offices at end-2014, down from October's 6.8%. Singapore's stable at 1.7%.

Maintain BUY & USD8.56 TP, at 25% discount to RNAV. Catalysts from "re-centralisation" of HK office space & potential MSCI HK inclusion in November.
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