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CK ASSET Justin Chiu: HK Top Pick for Investment; Firm Willing to Assist Peers w/ ST Cash Flow Issues
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CK ASSET (01113.HK)'s management recently said that, if returns and prices are attractive, the Company is interested in investing more in local commercial and retail properties or land. Executive Director Justin Chiu emphasized in an interview that the Group has never left the Hong Kong market, and that the Group currently has a relatively relaxed financial position and will prioritize Hong Kong when investment opportunities arise. This includes the ability to assist peers facing short-term cash flow issues. Good projects that require the Group's investment could be considered. The Group will help as much as it can, because if any company goes bankrupt, it is not good for Hong Kong. Regarding the property market trend, Chiu, who has been in the real estate industry for over 40 years, said he has never seen a 3-year-long L-shaped trend. The biggest crisis in the local property market is the excess inventory, with an accumulated backlog of about 20,000 units, while only about 12,000 units can be absorbed annually, meaning it cannot be cleared in a few years. Developers find it difficult to hike prices, and the chances of market recovery are low, which are expected to take about 2 years to improve. AASTOCKS Financial News Website: www.aastocks.com |
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