Higher profits for Li's firms
Article Abstract:
Hong Kong property tycoon Li Ka-shing's two companies, the Cheung Kong (Holdings) Ltd. and Hutchinson Whampoa Ltd., reported higher profits for 1996 brought about by the boom in property prices. Property developer Cheung Kong earned a net profit of HK$13.77 bil. ($1.78 bil.), an increase of 24% from 1995 figures; while Hutchinson Whampoa earned a 26% increase in net profits from 1995 figures, reaching HK$12.02 bil. for 1996. Cheung Kong gained the increase from a 9.5% increase in property sales while Hutchinson Whampoa's profits were gained from the spinoff of its Orange subsidiary.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1997
User Contributions:
Comment about this article or add new information about this topic:
Property auction nets a record sum of $1.53 billion
Article Abstract:
Property developer Sino Land Co. paid the handsome price of HK$11.82 bil. ($1.53 bil.) for a residential-commercial site that was placed on government land auction. Industry observers said that the high purchase price may be the tail-end of the rising land prices in Hong Kong and will be tempered by the caution of property buyers against depreciating property prices. Hong Kong's real estate industry has been plagued by high property prices, some reaching near unthinkable levels. Sino Land plans to develop the land into a shopping center-residential complex.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1997
User Contributions:
Comment about this article or add new information about this topic:
Property confidence caves in
Article Abstract:
Malaysian real estate developers are waiting for the country's economy to stabilize before proceeding with any projects. This attitude may be attributed to the almost 50% decrease in the property stock index which indicates decreasing stock shares in the industry. Some believe that this is merely one minor setback to overcome while others feel that current economic trends would slow down the industry.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1997
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: High price for oil company. Minority stake in Polish bank sold. Poland consolidates banking sector
- Abstracts: Smaller cars, bigger profits? European cars. in the tracks of the Trabi. Germany drops the drivers
- Abstracts: The United Nations regrets. Towards reform: United Nations. The scapegoat
- Abstracts: Institutions run for cover. Project financing faces a squeeze in China...
- Abstracts: Towards reform: United Nations. The best world club we have: the United Nations. Reworking the UN: reform means more than cutting dollars and staff