Hongkong Land Likely Has Ample Financial Flexibility to Pursue More Buys -- Market Talk

0749 GMT - Hongkong Land likely has ample financial flexibility to pursue further acquisitions, even as it invests around US$250 million of equity into its private fund, say DBS Group Research analysts in a note. The Singapore-listed property company's private fund agreed to acquire Wheelock Place for S$1.1 billion, which is to be funded through equity and debt, the analysts note. The company investing further equity into the fund to maintain its majority stake should result in its gearing rising by to 11.6%, which the analysts describes as comfortable. Hongkong Land's strong balance sheet should also enable it to continue its share buybacks, which would in turn support its shares. DBS retains a buy rating and US$9.89 target price. Singapore-listed shares decline 2.6% to US$8.12. (megan.cheah@wsj.com)

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July 31, 2026 03:49 ET (07:49 GMT)