Top Spring to launch debut project

Business | Eurus Yiu 24 Jun 2020

Top Spring International (3688) said it will release at least 50 flats in the first price list of 128 Waterloo in Ho Man Tin, the group's first project in Hong Kong.

128 Waterloo offers a total of 110 flats, about half of which are two-bedroom flats measuring around 500 sq ft.

CK Asset (1113) will launch 462 flats at Sea to Sky at Lohas Park for sale on Saturday. Cheung Kong Real Estate director William Kwok Tze-wai said he is confident in the economy and property market prospects in the second half of the year, which property prices are expected to record a 5 to 7 percent increase.

Nan Fung Group sold a 2,865-sq-ft flat at 8 Deep Water Bay Drive for HK$175 million, or HK$61,082 per sq ft.

In the commercial property market, Centaline Commercial expects to record 1,500 transactions of industrial, commercial properties and shops in the first half, down by 15.7 percent from the second half last year.

A 750-sq-ft street shop on Lai Chi Kok Road in Sham Shui Po changed hands for HK$11.3 million, after HK$4.7 million was cut from the initial asking price.

Emperor International (0163) recorded a net loss of HK$3.64 billionfor the year ended March 31, from a net profit of3.13 billion a year before, and underlying profit plunged 43.7 percent year-on-year to HK$842.23 million.

Revenue dropped45.6percent year-on-year to HK$2.36 billion.Basic loss per share wasHK$0.99.Emperor International recommendeda final dividend of HK$0.035 per share.

Meanwhile,Emperor Entertainment Hotel (0296) said net profit fell 28 percent year-on-year to HK$263.9 millionfor the year ended March 31. Revenue went down 17.2 percent to HK$1.14 billion.Basic earnings per share were HK$0.21.Emperor Entertainment Hotelrecommended a final dividend of HK$0.03 per share.

Meanwhile, the one-month Hong Kong Interbank Offered Rate, which is linked to the mortgage rate, rose to 0.47298 percent yesterday.


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