DOCSLIB.ORG

25 Years in Retrospect Hang Lung Properties 2 5 Years in Retrospect Years

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
25 Years in Retrospect Hang Lung Properties 2 5 Years in Retrospect Years www.hanglung.com 25 YEARS IN RETROSPECT HANG LUNG PROPERTIES PROPERTIES HANG LUNG 2 5 YEARS IN RETROSPECT K Foils T16 K Foils 1266 Blind Deboss HL25 Cover Design B Size: 223mm x 305mm 21.5mm CONTENTS Preface 2004-2005 2 83 Expansion Strategies: Sights Set on 4 Milestone Exponential Growth Opportunities 1990-1991 2005-2006 9 Stability in Diversity: A Strong and 93 Growth Blueprint: Scaling New Horizons Strengthening Portfolio 102 2006-2007 1991-1992 Shaping History: Monumental Decisions 13 Foresighted Policies: Bearing the for Landmark Projects Fruit of Expansion 112 2007-2008 1992-1993 Prudence Wins: Tenacious Policies 17 Discerning Decisions: Qualitative Approaches Demonstrate the Value of Patience to Portfolio Management 125 2008-2009 1993-1994 Outlive Outlast: Holding Steady during 23 Taming Zeal: Restraint as the Peak Emerges a Precipitous Fall 1994-1995 2009-2010 28 Market Correction: Stability in the Storm of 137 Jubilation: A Jubilee Year with Real Upheaval Reasons to Rejoice 1995-1996 2010-2011 33 Resilience: Emerging Stronger from the Storm 155 Stable Progress: Positive Trends Amidst Mixed Bag of Results 1996-1997 37 Robust Recovery: Getting in the Stride for 2011 Success 169 Position Strengthens: Competition Eases Favoring the Prudent 1997-1998 41 After the Calm: The Full Storm of Recession 2012 179 From the Trough: Sustaining Positive 1998-1999 Growth in Disquieting Times 45 Positives Amid Negatives: Persevering Through Painful Times 2013 187 Still Waters: Generating opportunities 1999-2000 for growth in a stagnant market 51 Constructing Opportunities: Extending Our Reach Expanding Our Horizons 2014 197 The Luster of Luxury: Hong Kong 2000-2001 Residential Units Peak 55 Gloom Lingers: Multi-pronged Pressures Depress Market 2015 208 From the Depths: Keeping Confidence 59 2001-2002 in Deepening Crisis New Depths: Market Sinks Further as Bear (Chairman’s letter from 2015 Hang Lung Group Refuses to Loosen Grip Limited Annual Report) 2002-2003 215 2015 69 SARS Strikes Final Blow to Bottom-out Market Diagnoses Abound: Yet Only One Correct Prognosis 2003-2004 77 Breaking Dawn: Positioned to Prosper Preface History is what makes us who encapsulate a vision for growth 25 Years in Retrospect is a we are today, its defining power that has propelled the Company to testament to the aspiration to build gives it an immeasurable value new heights. sustainably: not only the individual which, with retrospection, reveals landmark structures that make up the road traveled and points The letters in collection resonate the Hang Lung portfolio in Hong to the path ahead. This volume, with the Hang Lung business Kong and mainland China; but to 25 Years in Retrospect, presents philosophy – We Do It Right – and build a strong and sustainable the history of Hang Lung from the demonstrate with clarity and detail future for the Company and all succession of Ronnie C. Chan to the how our present success and future its stakeholders from our chairmanship, not through rose growth is contingent not on shareholders and employees, tinted glasses, but as it happened; external forces but on the correct to our customers and the with a collection of the Chairman’s interior disposition, and community at large. Letters to Shareholders that span discernment of how to understand, the period from 1990 to 2015. anticipate, and respond to the changing environment with a Each letter, penned personally by single-minded focus on delivering Ronnie, gives insight into the the best possible results to our workings of the mind that has shareholders. Shenyang helmed and steered the Company through storms and clear waters to where we are today. From Tianjin Dalian penetrative assessments of the state of the market and its future, to policy decisions, directions, and Jinan aspirations, these letters Wuxi Wuhan Shanghai Kunming Hong Kong Shenyang Tianjin Dalian Jinan Wuxi Wuhan Shanghai Kunming Hong Kong Milestone 1991 1992 1993 1999 • Ronnie C. Chan • Amoy Properties Limited • Opening of • Opening of took over the made its maiden investment The Peak Galleria The Grand Gateway chairmanship of in mainland China in Hong Kong in Shanghai Amoy Properties Limited and Hang • Acquired Standard Chartered Lung Development Bank Building, the current Company Limited headquarters of Hang Lung Properties Limited, in Hong Kong 1994 • Opening of Grand Centre in Hong Kong • Became a Hang Seng Index constituent stock 2005 2009 2010 2011 • Completion of • Land acquisition • Opening of Palace 66 • Opening of The Long Beach in Wuxi (to be in Shenyang Parc 66 in Hong Kong developed as in Jinan Center 66 – Phase 2) • Land acquisition in Kunming (to be developed as Spring City 66) • 50th Anniversary of Hang Lung Group Limited • The Grand Gateway renamed as Grand Gateway 66 4 2001 2002 2003 2004 • Opening of Plaza 66 in Shanghai • Completion of • Completion of • Completion of The Summit The HarbourSide Carmel-on-the-Hill in Hong Kong in Hong Kong in Hong Kong • Amoy Properties Limited renamed as Hang Lung Properties Limited • Completion of AquaMarine in Hong Kong • Hang Lung Development Company Limited renamed as Hang Lung Group Limited 2012 2013 2014 2015 • Opening of Forum 66 • Opening of • Opening of Riverside 66 • Opening of Olympia 66 in Shenyang Center 66 – in Tianjin in Dalian Phase 1 in Wuxi • Land acquisition in • New look of Wuhan (to be developed Fashion Walk unveiled as Heartland 66) 5 Our discerning approach to expansion is founded on a position of stability and healthy 1990 growth in our existing markets to pave the way for long-term returns. It is based on a fundamental belief in our astute management policies that view each property in our portfolio 1993 as an opportunity to add long-term value to our bottom line. Whilst improving yields in our existing portfolio with the remodeling of Food Street in Causeway Bay, this period also sees construction on Grand Centre and The Peak Galleria, and the foresighted acquisition of the Standard Chartered Bank Building in Central. But the most significant step forward for the Group was the landmark acquisition in the Xujiahui development in Shanghai, which market our providential entry into the Mainland market. 90 91 Stability in Diversity: A Strong and Strengthening Portfolio EXECUTIVE SUMMARY Long-term strategic planning has built a portfolio capable of driving growth in variable economic conditions, and diverse enough to make the most out of short-term shifts in market sentiment. Existing retail properties have leveraged on broad appeal and the ability to manage tenant mix with flexibility to maintain yields on an upward trajectory. Likewise, office leasing has seen growth based on the consistent choice of strategic locations. Work in progress, including landmark site, The Peak Galleria, advances our principles for tactical and well-planned construction with a finger on the pulse of the market. And for the future, continued foresight in strategic development will enable us to extend growth through an acquisitions program propelled by favorable economic fundamentals. 9 Chairman Ronnie C. Chan 25 YEARS IN RETROSPECT The various sectors of the investment property market fluctuations of other countries. Recession in the West performed differently in the period under review. Retail combined with an abundance of new supply of class-A space and offices, for example, were at very different offices has caused a lowering of rents. points in their respective market cycles. While the former sector to some extent slowed down due to On the other hand, as Hong Kong’s economic growth in moderating growth in consumption, it remained healthy the foreseeable future will be domestically led and as for the most part. The same, however, cannot be said of trade with China continues to improve, class-B space the office market, at least not for class-A properties. in convenient locations – the bulk of our office Supply/demand imbalance caused rental rates to fall as portfolio – has been spared from high vacancy rates. did capital value. This, however, means that our average unit size per tenancy is much smaller than those in, say, Central. Consequently, our properties are more management Versatile Retail Appeal Taps Shift in intensive. However, our staff are well trained and are Demographics committed to achieving optimal results. Furthermore, even within the same sector, differences The fact that our properties are all well located – exist due to location and target clients. For example, almost all of them are within minutes’ walk from subway while vacancy rates for offices on Hong Kong Island stations – also contributes to a higher yield and renders have been high compared to a few years ago, occupancy us more resilient to potential downturns in the market. levels in buildings in certain areas such as Mongkok have remained rather buoyant. The fact that they attract different kinds of tenants with different size Driving Growth from Firm Foundations requirements also contributed to the divergence. Looking ahead, we shall strive to maintain in our future purchases those advantages already outlined. The reason why your Company’s portfolio has one of the With a strong and steady cash flow and a low gearing, highest yields of all the major property investment the expansion of our portfolio will be constrained only by companies in Hong Kong is because: not only are we the availability of good acquisition targets. Given the heavily concentrated on retail space (about 66 per cent fact that one can generally buy good income-producing of rents received), but our shopping centers also cater properties with a yield of 8% to 9% and with the mainly to local customers. As a result, not only were we borrowing rate standing at around or below these levels, less affected by the fall in tourist arrivals, but we also we can afford to be more aggressive in our acquisition benefited from the rise in income of the local populace.
Load more

Recommended publications
  • T and Analysis of Walkability in Hong Kong
    Measurement and Analysis of Walkability in Hong Kong By: Michael Audi, Kathryn Byorkman, Alison Couture, Suzanne Najem ZRH006 Measurement and Analysis of Walkability in Hong Kong An Interactive Qualifying Project Report Submitted to the faculty of the Worcester Polytechnic Institute In partial fulfillment of the requirements for Degree of Bachelor of Science In cooperation with Designing Kong Hong, Ltd. and The Harbour Business Forum On March 4, 2010 Submitted by: Submitted to: Michael Audi Paul Zimmerman Kathryn Byorkman Margaret Brooke Alison Couture Dr. Sujata Govada Suzanne Najem Roger Nissim Professor Robert Kinicki Professor Zhikun Hou ii | P a g e Abstract Though Hong Kong’s Victoria Harbour is world-renowned, the harbor front districts are far from walkable. The WPI team surveyed 16 waterfront districts, four in-depth, assessing their walkability using a tool created by the research team and conducted preference surveys to understand the perceptions of Hong Kong pedestrians. Because pedestrians value the shortest, safest, least-crowded, and easiest to navigate routes, this study found that confusing routes, unsafe or indirect connections, and a lack of amenities detract from the walkability in Hong Kong. This report provides new data concerning the walkability in harbor front districts and a tool to measure it, along with recommendations for potential improvements. iii | P a g e Acknowledgements Our team would like to thank the many people that helped us over the course of this project. First, we would like to thank our sponsors Paul Zimmerman, Dr. Sujata Govada, Margaret Brooke, and Roger Nissim for their help and dedication throughout our project and for providing all of the resources and contacts that we required.
    [Show full text]
  • Contract Settlement Prices Summary: Hong Kong
    HK Index Daily Preview 21 October 2020 Contract Settlement Prices Contract Settlement Change (Nominal) Change (Percentage) Mini-Hang Seng Index OCT 20 24,502 -47 -0.19% Mini-Hang Seng China Enterprises Index OCT 20 9,961 -6.00 -0.06% Summary: Hong Kong stocks struggled for fresh catalysts on Tuesday to sustain a three-week rally as a government report showed further weakness in the local employment market. Most equity markets in Asia-Pacific region retreated after a sell-off in US stocks overnight. The Hang Seng Index laboured to a 0.1 per cent gain at 24,569.54, having traded between gains and losses. Alibaba Group Holding climbed 0.7 per cent after breaching the HK$300 mark for the first time since its November debut, as its affiliate Ant Group won approval for its stock offering from the bourse operator. Major stock gauges in mainland China rose. The CSI300 index, which tracks the biggest companies on Shanghai and Shenzhen bourses, closed 0.8 per cent higher to 4,793.47, arresting a 1.7 per cent slide in the past four trading days. The Shanghai Composite Index added 0.5 per cent, and the Shenzhen tech board ChiNext jumped more than 1 per cent. Benchmarks in Japan and Australia declined by 0.4 per cent and 0.7 per cent respectively, while South Korea’s Kospi rose by 0.5 per cent. A deadlock in US stimulus talks pummeled US equities overnight, with the S&P 500 Index losing 1.6 per cent, the most since September 23, according to Bloomberg data.
    [Show full text]
  • List of Buildings with Confirmed / Probable Cases of COVID-19
    List of Buildings With Confirmed / Probable Cases of COVID-19 List of Residential Buildings in Which Confirmed / Probable Cases Have Resided (Note: The buildings will remain on the list for 14 days since the reported date.) Related Confirmed / District Building Name Probable Case(s) Islands Hong Kong Skycity Marriott Hotel 5482 Islands Hong Kong Skycity Marriott Hotel 5483 Yau Tsim Mong Block 2, The Long Beach 5484 Kwun Tong Dorsett Kwun Tong, Hong Kong 5486 Wan Chai Victoria Heights, 43A Stubbs Road 5487 Islands Tower 3, The Visionary 5488 Sha Tin Yue Chak House, Yue Tin Court 5492 Islands Hong Kong Skycity Marriott Hotel 5496 Tuen Mun King On House, Shan King Estate 5497 Tuen Mun King On House, Shan King Estate 5498 Kowloon City Sik Man House, Ho Man Tin Estate 5499 Wan Chai 168 Tung Lo Wan Road 5500 Sha Tin Block F, Garden Rivera 5501 Sai Kung Clear Water Bay Apartments 5502 Southern Red Hill Park 5503 Sai Kung Po Lam Estate, Po Tai House 5504 Sha Tin Block F, Garden Rivera 5505 Islands Ying Yat House, Yat Tung Estate 5506 Kwun Tong Block 17, Laguna City 5507 Crowne Plaza Hong Kong Kowloon East Sai Kung 5509 Hotel Eastern Tower 2, Pacific Palisades 5510 Kowloon City Billion Court 5511 Yau Tsim Mong Lee Man Building 5512 Central & Western Tai Fat Building 5513 Wan Chai Malibu Garden 5514 Sai Kung Alto Residences 5515 Wan Chai Chee On Building 5516 Sai Kung Block 2, Hillview Court 5517 Tsuen Wan Hoi Pa San Tsuen 5518 Central & Western Flourish Court 5520 1 Related Confirmed / District Building Name Probable Case(s) Wong Tai Sin Fu Tung House, Tung Tau Estate 5521 Yau Tsim Mong Tai Chuen Building, Cosmopolitan Estates 5523 Yau Tsim Mong Yan Hong Building 5524 Sha Tin Block 5, Royal Ascot 5525 Sha Tin Yiu Ping House, Yiu On Estate 5526 Sha Tin Block 5, Royal Ascot 5529 Wan Chai Block E, Beverly Hill 5530 Yau Tsim Mong Tower 1, The Harbourside 5531 Yuen Long Wah Choi House, Tin Wah Estate 5532 Yau Tsim Mong Lee Man Building 5533 Yau Tsim Mong Paradise Square 5534 Kowloon City Tower 3, K.
    [Show full text]
  • Request Letter to Government Office
    Request Letter To Government Office laurelledIronic and Godard bathetic thermostats Vibhu doubles almost her evangelically, immaterialness though annunciated Merwin complicateor quarters hisignobly. dodecasyllabic Esthonian and recolonisedmiscues. Lucius so reductively. geometrised his pattle buddings southward, but well-known Avraham never Of journalism certificate from the author, to request government letter is genuine, and why you You requested to government offices are requesting financial officer at missouri state bank account or governments do you for their request a starting point but in. Learn more supportive of your profile today and using this? You need the requirements you are actually read a polite and child health and paste this strategy reviews from manual rates is. Research shows the office management refuses to get the country sends to train someone to the locality. All elements in earning a banana and maximize geoarbitrage before taking surveys! Getting into other product to make it for your current implemented case, sending to hear about my commercial interest because it! Sample letter to even local Minister. You implement this office of government offices are the usg in question is very useful active voice. Certificates may request government offices may not understand. Afsac online fundraising goal and polite, or governments and by far from ucla is a loan, seeking assistance from you should quickly. Use the blue letter provided against you on each Urgent Action level a guide Salutations. Sample Texas Public Information Act of Letter Note Wording does quality need get exactly thought this gorgeous letter. How To propagate Free Money 14 Effortless Ways Clever Girl Finance. Sample invitation letter if a government official.
    [Show full text]
  • Making Sense of a Complex Artistry: a Narrative Inquiry of TIE Actors’ Practice in Two Issue-Based, Interactive Theatre-In-Education Works
    Making Sense of a Complex Artistry: A Narrative Inquiry of TIE Actor's Practice in Two Issue-based, Interactive Theatre- in-Education Works Author Chan, Yuk-Lan Published 2017-03 Thesis Type Thesis (PhD Doctorate) School School Educ & Professional St DOI https://doi.org/10.25904/1912/3738 Copyright Statement The author owns the copyright in this thesis, unless stated otherwise. Downloaded from http://hdl.handle.net/10072/373967 Griffith Research Online https://research-repository.griffith.edu.au Making Sense of a Complex Artistry: A Narrative Inquiry of TIE Actors’ Practice in Two Issue-based, Interactive Theatre-in-Education Works Chan, Yuk-Lan Phoebe BBA (Hong Kong) MA in Drama-in-Education (Birmingham) School of Education and Professional Studies Griffith University This thesis is submitted in fulfilment of the requirement of the degree of Doctor of Philosophy March 2017 Statement of Originality This work has not been previously submitted for a degree or diploma in any university. To the best of my knowledge and belief, the thesis contains no material previously published or written by another person except where due reference is made in the thesis itself. 31 March 2017 i Abstract Despite growing research focusing on the application of Theatre-in-Education (TIE) in various educational and community settings, limited exploration has been completed on the practice of actors who engage in TIE works. In particular, insufficient attention has been paid to the complex demands this form places on TIE actors and as such, the artistry required of them. This thesis addresses these gaps by exploring the experiences of nine TIE actors engaged in two issue-based, interactive TIE works presented in Hong Kong.
    [Show full text]
  • Hang Lung Properties Version 9 | Bloomberg: 101 HK EQUITY | Reuters: 101.HK Refer to Important Disclosures at the End of This Report
    China / Hong Kong Company Guide Hang Lung Properties Version 9 | Bloomberg: 101 HK EQUITY | Reuters: 101.HK Refer to important disclosures at the end of this report DBS Group Research . Equity 31 Jul 2019 BUY Retail sales growth gathering Last Traded Price ( 30 Jul 2019):HK$18.64 (HSI : 28,147) momentum Price Target 12-mth: HK$22.38 (20.1% upside) (Prev HK$20.35) BUY with HK$22.38 TP. The stock is trading at a 49% discount to Analyst our estimated current NAV and offers an attractive dividend yield Jeff YAU CFA, +852 36684180 [email protected] of 4.0% for FY19. Stellar tenants’ sales growth at its retail malls in Ian CHUI +852 36684174 [email protected] Jason LAM +852 36684179 [email protected] China augurs well for reversionary growth. Portfolio expansion and asset enhancement initiatives should provide additional What’s New momentum to drive rental income, offering better earnings quality • Improving retail tenants’ sales to underpin and in turn providing share price upside. HLP is among our preferred landlords. BUY with HK$22.38 TP. reversionary growth Portfolio expansion to lift rental income. The progressive opening • New properties to spice up rental earnings of new properties in Kunming, Wuhan, Wuxi, and Shenyang in • BUY with HK$22.38 TP 2019-20 should give an additional boost to Hang Lung Properties’ recurrent earnings growth, and its ability to raise dividends. Pre- leasing at Spring City 66 in Kunming is progressing smoothly, with Price Relative 88% of retail space already pre-committed. This mall is scheduled to open for business in late Aug.
    [Show full text]
  • FOR IMMEDIATE RELEASE: KPF Celebrates Opening of Spring City 66 the Design Reconnects Kunming's Pedestrian Pathways As It Nods
    FOR IMMEDIATE RELEASE: KPF Celebrates Opening of Spring City 66 The design reconnects Kunming’s pedestrian pathways as it nods to the unique landscape of Yunnan Province. New York, New York – February 21, 2020 – Kohn Pedersen Fox Associates (KPF) recently celebrated the opening of Spring City 66, a mixed-use development in Kunming, China. One of the largest commercial complexes in the city, the 430,000 m2 Spring City 66 is comprised of a retail podium and office tower that are carefully integrating into the surrounding context. Located adjacent to two major pedestrian-friendly boulevards and metro lines, Spring City 66’s accessibility and public amenities weave this high-density, mixed-use destination directly into the urban fabric of Kunming. Design Inspiration The design for Spring City 66 is responds to Yunnan Province’s unique landscape and its location along historic trade routes. A landscaped promenade, reminiscent of the region’s verdant valleys, is central to the project, while the surrounding undulating retail podium and a crag-like tower nod to the nearby Shilin Stone Forest’s notable limestone formations. The project’s varied program weaves along multiple levels of terraces lined with shops and restaurants, creating a vibrant destination for the city. “The KPF design for Spring City 66 illustrates our belief that the most compelling architecture strongly expresses the spirit of its place. Kunming is a city of outdoor life, of vibrant color, and exciting topography. This building reflects that character in the shape of its roofs, and in its facade materials. We worked closely with Hang Lung, as we have previously in Shanghai, Tianjin, Shenyang, Hangzhou, and Hong Kong, to weave together varied activities of working, shopping, and dwelling into one urban hive of activity,” notes KPF President and Design Principal James von Klemperer.
    [Show full text]
  • 2 March 2016
    THE HONGKONG AND SHANGHAI HOTELS, LIMITED 2 March 2016 THE HONGKONG AND SHANGHAI HOTELS, LIMITED CELEBRATES ITS 150th ANNIVERSARY IN 2016 The Hong Kong-based parent company of The Peninsula Hotels, The Peak Tram, Peak Tower and Repulse Bay Complex, celebrates 150 years of tradition well served. HONG KONG 2 March, 2016: The distinguished heritage of The Hongkong and Shanghai Hotels, Limited (HSH) reaches a new milestone today as HSH celebrates its 150th anniversary. Originally incorporated on 2 March 1866 as The Hongkong Hotel Company, Limited, HSH was one of the first companies to be listed on the Hong Kong Stock Exchange and is currently the oldest registered company on the Hong Kong Companies Registry. For a century and a half, the compelling story of HSH has been closely tied to its city of origin, Hong Kong. Whilst evolving to meet the changing times at home and abroad, HSH has never lost respect for its past and its heritage, and it continually strives to emulate the standards of service and style that earned it the accolade of “The Far East’s leading hotel company”. The concept of “Tradition well served” remains fundamental to HSH’s approach. “Tradition is taking account of a wonderful history, but remembering that everybody today looks to the future. It is important not to forget that the future is built on the past, and we have a great legacy,” said The Hon. Sir Michael Kadoorie, Chairman of HSH. “We believe that our rich history gives us a fuller understanding of our shared identity, culture and values, enabling us to manage change responsibly, to safeguard the best of the past and to keep innovating to meet the demands of the next generation.” Today, the HSH legacy encompasses a diverse portfolio of assets worth HK$44.2 billion1 including ten Peninsula Hotels around the world, The Peak Tram, The Peak Tower and The Repulse Bay Complex in Hong Kong.
    [Show full text]
  • STOXX Hong Kong All Shares 50 Last Updated: 01.12.2016
    STOXX Hong Kong All Shares 50 Last Updated: 01.12.2016 Rank Rank (PREVIOUS ISIN Sedol RIC Int.Key Company Name Country Currency Component FF Mcap (BEUR) (FINAL) ) KYG875721634 BMMV2K8 0700.HK B01CT3 Tencent Holdings Ltd. CN HKD Y 128.4 1 1 HK0000069689 B4TX8S1 1299.HK HK1013 AIA GROUP HK HKD Y 69.3 2 2 CNE1000002H1 B0LMTQ3 0939.HK CN0010 CHINA CONSTRUCTION BANK CORP H CN HKD Y 60.3 3 4 HK0941009539 6073556 0941.HK 607355 China Mobile Ltd. CN HKD Y 57.5 4 3 CNE1000003G1 B1G1QD8 1398.HK CN0021 ICBC H CN HKD Y 37.7 5 5 CNE1000001Z5 B154564 3988.HK CN0032 BANK OF CHINA 'H' CN HKD Y 32.6 6 7 KYG217651051 BW9P816 0001.HK 619027 CK HUTCHISON HOLDINGS HK HKD Y 32.0 7 6 HK0388045442 6267359 0388.HK 626735 Hong Kong Exchanges & Clearing HK HKD Y 28.5 8 8 CNE1000003X6 B01FLR7 2318.HK CN0076 PING AN INSUR GP CO. OF CN 'H' CN HKD Y 26.5 9 9 CNE1000002L3 6718976 2628.HK CN0043 China Life Insurance Co 'H' CN HKD Y 20.4 10 15 HK0016000132 6859927 0016.HK 685992 Sun Hung Kai Properties Ltd. HK HKD Y 19.4 11 10 HK0883013259 B00G0S5 0883.HK 617994 CNOOC Ltd. CN HKD Y 18.9 12 12 HK0002007356 6097017 0002.HK 619091 CLP Holdings Ltd. HK HKD Y 18.3 13 13 KYG2103F1019 BWX52N2 1113.HK HK50CI CK Property Holdings HK HKD Y 17.9 14 11 CNE1000002Q2 6291819 0386.HK CN0098 China Petroleum & Chemical 'H' CN HKD Y 16.8 15 14 HK0688002218 6192150 0688.HK 619215 China Overseas Land & Investme CN HKD Y 14.8 16 16 HK0823032773 B0PB4M7 0823.HK B0PB4M Link Real Estate Investment Tr HK HKD Y 14.6 17 17 CNE1000003W8 6226576 0857.HK CN0065 PetroChina Co Ltd 'H' CN HKD Y 13.5 18 19 HK0003000038 6436557 0003.HK 643655 Hong Kong & China Gas Co.
    [Show full text]
  • Sustainable Development
    SUSTAINABLE DEVELOPMENT Hang Lung is committed to embedding an unwavering culture of sustainability across its business operations and value chain. In 2020, we joined efforts across borders to curb the impact of COVID-19 on our valued employees, customers, and communities. We also established a set of ambitious, long-term sustainability goals and targets to be achieved by 2030. Our key priority is to become a sustainability leader in the real estate industry over the next ten years and beyond. Reporting Approach and Standards greater detail. The sustainability report will follow the The Sustainable Development section of this report Global Reporting Initiative (GRI) Standards and the briefly summarizes the Company’s new sustainability “mandatory disclosure requirements” and “comply framework, goals, targets, and performance in 2020. and explain” provisions of the ESG Reporting Guide Our standalone Sustainability Report 2020 will disclose in Appendix 27 of the Listing Rules. our sustainability policies, metrics, and performance in s ion lat re y it n u S m a fe m , o g c CLIMATE RESOURCE r B Y d e RESILIENCE MANAGEMENT e U N n a n , I , L A a e D P c n n d M I a N h n O e r G a C e l v t h o y g , s p m SUSTAINABILITY a a c e LEADERSHIP e t g n o r t S SUSTAINABLE WELLBEING TRANSACTIONS CU R Coll STOME act aboration and imp Hang Lung Properties Limited 92 SUSTAINABLE DEVELOPMENT Sustainability Priorities, Goals, endorsed a new framework comprising four priorities.
    [Show full text]
  • Hang Lung Group Limited
    Hang Lung Group Limited STOCK CODE: 00010 Hang Lung Group Limited STOCK CODE: 00010 Hang Lung Properties Limited STOCK CODE: 00101 The annual reports of Hang Lung Group Limited (Stock Code: 00010) and Hang Lung Properties Limited (Stock Code: 00101) for the 2019 financial year both embody the Group’s Five Overarching Strategies that are integral in driving sustainable business development: Be Customer Centric, Build Hang Lung Branded Experience, Embrace Technology, Disciplined Execution and Uphold Hang Lung Core Values. The cover images of both reports feature a twinning effect that showcases our two major projects for 2019 – the newly opened Spring City 66 in Kunming, and Peak Galleria in Hong Kong, which was reopened following the completion of its Asset Enhancement Initiative. These are projects that underline the Group’s development strategy, both in mainland China and Hong Kong, and the cover designs highlight the symbiotic relationship between beautiful, unique architecture and the people who use it. World-class properties such as these, designed, built and managed by Hang Lung, show our Five Strategies in action, and enable the Group to fulfil and exceed customers’ expectations. The reports are exquisitely designed, and detail Hang Lung’s concerted effort to strive for excellence and create value for shareholders and stakeholders. CORPORATE PROFILE Hang Lung Group Limited (stock code: 00010) is one of the most established listed companies in Hong Kong with more than 50 years of experience in the property development market. Through Hang Lung Properties Limited (stock code: 00101), we have built a leading reputation as a top-tier property developer in Hong Kong and on the Mainland, with a recognized commitment to quality.
    [Show full text]
  • MTR Corporation at a Glance
    MTR Corporation at a Glance The size, scale and geographic coverage of the business activities of the Company have been significantly expanded as a result of the Rail Merger completed on 2 December 2007. Our share of the Hong Kong franchised public transport market has increased to 41.6% and our property land bank and rental portfolio have both been increased with the Rail Merger. Railway Operations Station Commercial and Rail Related Businesses Business Description Business Description We operate a pre-dominantly rail based transportation system We leverage our railway assets and expertise into additional in Hong Kong, comprising Domestic and Cross-boundary businesses, including rental of station retail units (including services, a dedicated high-speed Airport Express and a light Duty Free shops), advertising in trains and stations, rail system, which in total stretches 211.6 kilometres with 82 telecommunications, rail consulting and freight services. stations and 68 stops. The Integrated MTR System is one of the most intensively used systems in the world, known for its reliability, safety and efficiency. We also provide intercity services to the Mainland of China as well as a bus operation in Hong Kong providing convenient feeder services. 2007 Highlights 2007 Highlights • Successfully completed the integration of two railway • Renovations to commercial areas at nine stations were networks on the Appointed Day of 2 December, together completed with fare reductions with effect from that day • Replacement of seatback TV with new multimedia
    [Show full text]