Hong Kong's Wen Wei Po (Reporter Wong Ka Ming) The market worried about the early interest rate hike by the United States,K. Wah International Chairman Lui Chi Wo believes the market do not need to be overly panic,also should not be too optimistic,he believed that the United States would gradually raise the interest rates,frankly that there are a small opportunities on the anxious growth of the Hong Kong property market in the future and the adjustment of the prices are expected to continue for a longer period of time,but there are not much property sales of the group will be launched out this year. However,Lui Chi Wo stressed that if the public have housing need,now is the time to buy the properties.
Lui Chi Wo and K. Wah International have released its annual results of last year yesterday,in the company's results announcement noted that the Hong Kong property market cooling measures implemented in the past 18 months and it will keep on affecting the property market continue.The new properties last year have cut the prices continuously,it have reflected the increased burden of stamp duty,on the other hand in order to attract the buyers.However,the continued downturn in the market transaction volume,mainly due to the uncertainties caused,he is also expected that in the foreseeable future,the government's measures to cool down the property market will remain in effect and the adjustment of the property prices are likely to continue for a longer period of time.
In addition,he publicly stated yesterday that there are just a few property sales will be launched out by the group this year,only putting the unsold units of Chantilly,joint project of Marinella,providence bay and Providence Peak up for sale.As for the MAYFAIR BY THE SEA I in Tai Po will be expected to be launched on sale within this year.
Mainland properties are expected difficult to be relaxed
As for the Mainland property market,Lui Chi Wo said that the central government will continue to implement the measures enacted earlier,tightening of credit construction,mortgage credit,housing and other restrictions and limitations of the price,but last year,the prices of major cities are still recorded a double-digit growth.Coupled with the recent land auction prices in the primary market is still hot,so it is now no sign of these measures will be relaxed,based on the expected economic growth and reform measures announced by the Third Plenary Session last year,so he is still remaining optimistic about the long-term prospects of the mainland property market.
Asked that the reasons of the main profit contribution of the business from the mainland last year,Lui Chi Wo explained that the mainland property have recorded a high proportion of the results last year,the time is restricted because of various factors,stressed that the group has been taken in each half of the Mainland and Hong Kong investment manner and does not focus on any party.
Meanwhile,Lui Chi Wo also believes that the policy of the two property market was different significantly,there are differences between the public demand,so it is difficult to be compared,the group can only try to adapt it and hoping that it was expected to keep on launching the property sales with a high prices or even with a low prices,as did the arrival of rotation purposes.He also said that the group has always taken a conservative strategy with a view to maintain low debt,also there are no specific target on the land purchase this year.
When asked about the Hong Kong's competitiveness and business environment,Lui Chi Wo said that the payback period was much longer than in the past in recent years,but thinking that Hong Kong is a blessed land,in a set of favorable factors,so does not agree competitiveness after Singapore.He also believes that Hong Kong people should play 'Lion spirit',to be wise to tell what to do and what not to do and should be more innovative,but said that K.Wah was not actually innovation,but by keep on improving in order to enhance their competitiveness.
The Net profit of K.Wah Group have recorded HKD $1.64 ten billion which fell 61%
K.Wah International yesterday announced that as of the end of last year,the net profit have recorded HKD $1.647 ten billion, 61.7% yoy drop,Core earnings for the year-on-year decrease of 66%,to HKD $1.389 ten billion,declared a final dividend of 10 cents and even send the annual interim dividend of 15 cents which recorded same with the 2012.The turnovers have increased 117.79 percent to HKD $7.288 ten billion.Contracted during the period attributable to sales of HKD $4.8 ten billion, mainly from Shanghai Ka Regalia,Upstream Park,Shanghai Westwood Phase III,Guangzhou Jia Hui Cheng and Hong Kong joint venture.
