Mainland buyers are 40 pc of HK property market's purchasing power: Far East chairman

Mainland buyers account for 40 percent of Hong Kong's property market purchasing power, Far East Consortium International (0035) chairman and chief executive David Chiu Tat-cheong stated in view of recent tightening of capital outflow measures by mainland China.

When attending an interview in Malaysia, Chiu stated that restrictions on mainland buyers are sure to affect the market, maintaining his forecast of a 15 percent increase in property prices over the next two years.

Additionally, Chiu encouraged Hongkongers to start businesses in Malaysia, but advised against investing in Malaysian properties, stating that investing in Hong Kong is easier.

Having moved to Kuala Lumpur in the mid-1980s to build his real estate business, Chiu owns and operates several listed companies in Malaysia, Hong Kong, and Japan. He is the founder and the Chairman of Malaysia Land Properties. 

Meanwhile, in Gold Peak Technology’s (0040) new generation of nickel-zinc battery production facilities and R&D centers in the Johor-Singapore Special Economic Zone, nickel-zinc batteries used for backup power in data centers are expected to become a new growth engine for the company. 

The company stated the data centers are consuming a great amount of energy, with a robust demand driven by AI.

𝗗𝗼𝘄𝗻𝗹𝗼𝗮𝗱 𝗧𝗵𝗲 𝗦𝘁𝗮𝗻𝗱𝗮𝗿𝗱 𝗔𝗽𝗽 ↓