SHARE REPURCHASE 

 

Please be advised of the following market repurchase by HKLH of its ordinary shares: 

 

Date of repurchase: 29th July 2022 

 

Total number of shares repurchased: 300,000 shares 

 

Highest price paid per share: US$5.28 

 

Lowest price paid per share: US$5.10 

 

The repurchased shares will be cancelled.

HONGKONG Land on Thursday (Jul 28) reported an 8 per cent rise in 1H 2022 underlying net profit to US$425 million from US$394 million a year ago.

 

The property company also reversed into the black, with H1 earnings of US$292 million, compared to a loss of US$865 million a year ago. Hongkong Land directors have declared an interim dividend of US$0.06 per share.

 

Revenue for the first half rose slightly by 0.9 per cent to US$894 million from US$885.8 million. Rental income for the period dipped 3 per cent from US$469.8 million to US$455.6 million on negative rental reversion from portfolio properties in Hong Kong. Average office rents dropped to HK$112 per sq ft in the first half of 2022, from HK$115 per sq ft in 2H 2021.

 

Footfall and tenant sales at Hongkong Land&rsquo s retail operation in Beijing and Macau were also negatively affected by pandemic-related restrictions. In Singapore, the property company&rsquo s office portfolio saw average office rents increasing to S$10.50 per sq ft in 1H 2022, from S$10.30 per sq ft in 2H 2021.

 

Hongkong Land reported more sales completion in H1, but pandemic-related lockdowns impacted construction progress at a mixed-use Galaxy Midtown project in Shanghai. This might delay anticipated sales completions from end-2022 to early-2023.

 

Weaker market sentiment in the majority of the cities the property company has a presence in has resulted in a fall in sales contracts. Attributable interest in contracted sales for H1 was US$419 million, compared to US$1.3 billion in 2H 2021.

 

Residential development activities in Singapore declined due to slower completion progress on projects. Nevertheless, attributable interest in contracted sales for H1 in Singapore was US$270 million, compared to US$156 million in 2H 2021.

 

&ldquo The Group&rsquo s full-year underlying profits are expected to be significantly lower than the prior year. This is primarily due to the planned timing of sales completions and the impact of pandemic-related restrictions on construction activities on the Chinese mainland, which will result in some completions being deferred from the second half of 2022 into 2023,&rdquo said Ben Keswick, chairman, Jardine Matheson.

 

SHARE REPURCHASE 

 

Please be advised of the following market repurchase by HKLH of its ordinary shares: 

 

Date of repurchase: 28th July 2022 

 

Total number of shares repurchased: 300,000 shares 

 

Highest price paid per share: US$4.93 

 

Lowest price paid per share: US$4.85 

 

The repurchased shares will be cancelled.

 

SHARE REPURCHASE 

 

Please be advised of the following market repurchase by HKLH of its ordinary shares: 

 

Date of repurchase: 27th July 2022 

 

Total number of shares repurchased: 294,600 shares 

 

Highest price paid per share: US$4.94 

 

Lowest price paid per share: US$4.87 

 

The repurchased shares will be cancelled.

 

SHARE REPURCHASE 

 

Please be advised of the following market repurchase by HKLH of its ordinary shares: 

 

Date of repurchase: 26th July 2022 

 

Total number of shares repurchased: 300,000 shares 

 

Highest price paid per share: US$4.95 

 

Lowest price paid per share: US$4.88 

 

The repurchased shares will be cancelled.

 

SHARE REPURCHASE 

 

Please be advised of the following market repurchase by HKLH of its ordinary shares: 

 

Date of repurchase: 25th July 2022 

 

Total number of shares repurchased: 222,000 shares 

 

Highest price paid per share: US$4.95 

 

Lowest price paid per share: US$4.87 

 

The repurchased shares will be cancelled. 

 

SHARE REPURCHASE 

 

Please be advised of the following market repurchase by HKLH of its ordinary shares: 

 

Date of repurchase: 22nd July 2022 

 

Total number of shares repurchased: 300,000 shares 

 

Highest price paid per share: US$4.91 

 

Lowest price paid per share: US$4.87 

 

The repurchased shares will be cancelled.