Sun Hung Kai Properties Ltd. Dec 11
Standard & Poors, December 2011
Abstract
Strong and improving recurring income base Leading market position Disciplined management and strategy, leading to consistently good financial performance and strong liquidity Cyclicality of the property development business Increasing exposure to the riskier Chinese property sector The rating on Sun Hung Kai Properties Ltd. (SHKP), a Hong Kong-based property developer and investor, reflects the steady growth in the company's high-quality investment property portfolio in Hong Kong and China. SHKP has the largest and most diversified investment property portfolio among peers in Hong Kong. The company also has a leading market position in Hong Kong for property development and leasing, and a well-recognized brand that allows it to price at a premium. Further rating strengths include SHKP's solid execution of its...
Companies mentioned in this report are: Sun Hung Kai Properties Ltd.,Sun Hung Kai Properties Insurance Ltd.
Action: Review
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Full Analysis
Sun Hung Kai Properties Ltd.,Sun Hung Kai Properties Insurance Ltd.
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