Added to YB: 2024-06-18
Pitch date: 2024-06-13
1113.HK [neutral]
CK Asset Holdings Limited
+16.85%
current return
Author Info
Bos Invest is a Dutch investor using fundamental analysis and a total return approach. Sign up for their newsletter.
Company Info
CK Asset Holdings Limited operates as a property developer in Hong Kong, the Mainland, Singapore, the United Kingdom, continental Europe, Australia, and Canada.
Market Cap
HKD 113.6B
Pitch Price
HKD 29.23
Price Target
N/A
Dividend
6.19%
Sector
Real Estate Management and Development
Category
value
CK Asset: How I would play a recovery of China / Hongkong
CK Asset: Undervalued Hong Kong property developer, trades at market cap of HK$107B. Stable international infrastructure assets (Greene King pubs, Reliance Home Comfort, etc.) valued at HK$111B alone using conservative multiples. Also owns HK$36.8B rental properties, HK$12.2B hotels, HK$19.5B landbank/development biz at trough multiples. Risks: Soft HK/China property market, potential development losses. But 6.9% div yield + buybacks, low leverage (<4% net debt/equity), strong track record make it attractive value play.
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