Latest news with #LinkAssetManagement
South China Morning Post
4 days ago
- Business
- South China Morning Post
Hong Kong's Link Asset Management cuts jobs amid retail headwinds
Hong Kong-based Link Asset Management has said it was 'streamlining a small number of roles and positions' as part of an efficiency drive in response to a 'challenging operating environment' amid reports that the firm was conducting lay-offs. Economists said the move by the firm, which owns 150 properties in Hong Kong, mainland China and other countries, could reduce costs and maintain profits amid the sluggish retail sector performance in the city. Link told the Post that its approach remained 'balanced and disciplined', prioritising maximising returns for its unit holders while maintaining high service levels. In response to media reports about redundancies, Link replied that it had revealed an operational efficiency drive during the announcement of its full-year results, which covered all 'controllable costs' including property, people, operations and pay. 'As part of this initiative, which is a response to the challenging operating environment, we are streamlining a small number of roles and positions,' a Link spokesman said in reply to the Post on Saturday. In its latest annual results, Link Reit reported a 4.6 per cent increase in earnings to HK7.02 billion (US$896 million) for the year. Revenue rose by 4.8 per cent to HK14.22 billion, and net property income jumped by 5.5 per cent to HK10.6 billion. As of March 31, its total portfolio was valued at HK$226 billion, comprising more than 150 properties in Hong Kong, the mainland, Australia, Singapore and the UK. Three-quarters of its assets are located in Hong Kong, encompassing retail properties, car parks and offices.
Business Times
06-06-2025
- Business
- Business Times
Link Reit is said to weigh Singapore IPO of non-HK, China assets
[HON KONG] Link Reit is considering listing a real estate investment trust in Singapore that would include some of its properties outside of China and Hong Kong, according to people familiar with the matter. Hong Kong-based Link has held early discussions with advisers on the potential initial public offering, the people said, asking not to be identified because the information is private. Deliberations are preliminary and the company may decide to not proceed with a listing, the people said. A representative for Link Asset Management, the manager of Link Reit, declined to comment. A listing would come at a time when Link seeks to diversify from property management. The company announced in recent months that it would expand its business into fund management by working with capital partners. It has tapped John Saunders, former head of Asia-Pacific real estate at BlackRock to lead the fund operation called Link Real Estate Partners. Link Reit has risen 27 per cent this year in Hong Kong, giving the firm a market value of around US$13.7 billion. Singapore's market has been struggling to reverse a trend of delistings. Since the start of 2024, just five companies have gone public on the Singapore Exchange, raising only US$39 million combined, data compiled by Bloomberg show. There are some green shoots. Japan's Nippon Telegraph & Telephone is working on a Reit IPO in Singapore that could take place this year, while US data security firm AvePoint filed for a second listing in the city-state in January, Bloomberg News has reported. BLOOMBERG
South China Morning Post
01-06-2025
- Business
- South China Morning Post
Hong Kong's Link takes rental hits amid fight to retain retail tenants
Hong Kong-based Link Asset Management expects more tenants to negotiate lower rents in the near term as it prioritises keeping its properties occupied, according to top executives at the company that manages Link Reit , Asia's largest real estate investment trust. While Hong Kong continued to suffer a retail slump, assets in Singapore and Australia performed better than expected, the company said on Tuesday as it reported revenue and profit increases for the financial year ended in March. Link is not ruling out acquiring properties in challenged markets including Hong Kong, added George Hongchoy Kwok-lung, executive director and group CEO. 'There will be ongoing pressure' in the year ahead for rent reductions, but 'one of the things that we're very focused on is preserving occupancy', he said. The company's rental rate reversion – the industry term for when tenants negotiate lower rents upon renewal – was negative 2.2 per cent in Hong Kong during the financial year. Retail assets in Singapore had a positive reversion of 17.8 per cent. Link's earnings rose 4.6 per cent to HK$7.02 billion (US$896 million) for the year, while revenue increased 4.8 per cent to HK$14.22 billion. Net property income jumped 5.5 per cent to HK$10.6 billion. Its total portfolio was worth HK$226 billion as of March 31, with more than 150 properties in Hong Kong, mainland China, Australia, Singapore and the UK. Three quarters of its assets were in Hong Kong, spanning retail properties, car parks and offices. Link owns 12 properties in mainland China, accounting for about 14 per cent of its portfolio, with assets in retail, office and logistics, while overseas, it also owns 12 properties in the retail and office segments.
Yahoo
29-05-2025
- Business
- Yahoo
Link Asset Management CEO on Business Strategy
George Hongchoy, Executive Director and Group CEO at Link Asset Management, discusses the company's latest earnings and business strategy. He speaks with Paul Allen and Haidi Stroud-Watts on "Bloomberg: The Asia Trade". Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Bloomberg
28-05-2025
- Business
- Bloomberg
Link Asset Management CEO on Business Strategy
George Hongchoy, Executive Director and Group CEO at Link Asset Management, discusses the company's latest earnings and business strategy. He speaks with Paul Allen and Haidi Stroud-Watts on 'Bloomberg: The Asia Trade'. (Source: Bloomberg)
