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Business Times
21-05-2025
- Business
- Business Times
Hong Kong's rich families sell their own dwellings to cut debt
[HONG KONG] Hong Kong's rich families are learning about the unpredictability of market downturns. Now some have to sell the homes they live in to cut debt. This week, a sea-view villa previously owned by wealthy businessman Chan Ping Che was listed by receivers for HK$430 million (S$71 million). Meanwhile, investment firm Gale Well Group's chief executive officer Jacinto Tong sold his penthouse apartment for HK$138 million last month, according to land registry filings. Chan, known as Hong Kong's 'King of Cassettes' for the source of his fortune, defaulted on a loan worth about HK$350 million in principal and interest from Fubon Bank Hong Kong earlier this year, he said on Wednesday (May 21). Last month, receivers took over the mansion he and his family were living in since the 1980s. Chan had tried to sell the property since late 2023, but did not manage to find a buyer, he said by phone. Hong Kong has seen a flurry of mansion firesales, following years of high interest rates and a property downturn. Despite a recent decline in borrowing costs in the city, residential prices are still hovering at an eight-year low, according to the Centaline Property Centa-City Leading Index. The city's prime office vacancies are set to increase, driving rents down by 8 to 10 per cent this year, according to Colliers International Group. A NEWSLETTER FOR YOU Tuesday, 12 pm Property Insights Get an exclusive analysis of real estate and property news in Singapore and beyond. Sign Up Sign Up 'People often use leverage to purchase additional properties, amplifying returns when prices rise, but also magnifying losses when prices drop,' said Christopher So, a partner at PricewaterhouseCoopers in Hong Kong. 'As the market weakens, rental demand and yields also decrease, impacting cash flow for servicing debt and leading to rising rate of default.' Chan bet big on Hong Kong property, investing in residential units, retail shops and parking spaces. He made his name in real estate in 2017 when he joined a consortium to spend US$5.2 billion to take over most floors of the Center, a skyscraper in the financial hub's business district. He sold two floors to DBS Bank for more than HK$1.3 billion combined last year, according to land registry filings. It was lower than what he paid for, local media reported. For Gale Well's Tong, he and his sister, Rita Tong put about HK$2.2 billion worth of properties up for sale this year, according to data compiled by Bloomberg. They include luxury homes, offices and shop space. In November, Jacinto Tong said that 'making money or posting a loss is a secondary matter, and the most important thing is to avoid negative equity', according to his Facebook post for a hotel sale. He added that the company was trying to maintain a healthy leverage ratio. Tong did not immediately respond to phone calls by Bloomberg News. 'Investors suffering significant losses from office properties might need to consider selling their residential properties to repay debt,' said Bloomberg Intelligence analyst Patrick Wong. The latter are still seeing stronger demand from investors and mainland population inflows, he said. Last year, a prominent local clan led by Ho Shung Pun sold seven luxury houses at the Peak to pay back private loans. The flurry of offerings adds pressure to a property market that's seen one of its longest downturns. Home prices are 29 per cent below their peak in 2021, government data show. The number of households with negative equity – when the value of a property is lower than the outstanding mortgage loan – rose to the highest since 2003 at the end of March. Luxury home transactions have been improving since the last quarter of 2024, but prices are not reflecting the sentiment due to a surplus of distressed assets, according to a Savills report in March. BLOOMBERG
Straits Times
21-05-2025
- Business
- Straits Times
Hong Kong's rich families sell their own homes to cut debt
Hong Kong has seen a flurry of mansion firesales, following years of high interest rates and a property downturn. PHOTO: ST FILE HONG KONG - Hong Kong's rich families are learning about the unpredictability of market downturns. Now some have to sell the homes they live in to cut debt. This week, a sea-view villa previously owned by wealthy businessman Chan Ping Che was listed by receivers for HK$430 million (S$70.9 million). Meanwhile, investment firm Gale Well Group's chief executive officer Jacinto Tong sold his penthouse apartment for HK$138 million in April, according to land registry filings. Mr Chan, known as Hong Kong's 'King of Cassettes' for the source of his fortune, defaulted on a loan worth about HK$350 million in principal and interest from Fubon Bank Hong Kong earlier in 2025, he said in a phone interview on May 21. In April, receivers took over the mansion he and his family were living in since the 1980s. Mr Chan had tried to sell the property since late 2023, but didn't manage to find a buyer. Hong Kong has seen a flurry of mansion firesales, following years of high interest rates and a property downturn. Despite a recent decline in borrowing costs in the city, residential prices are still hovering at an eight-year low, according to the Centaline Property Centa-City Leading Index. The city's prime office vacancies are set to increase, driving rents down by 8 per cent to 10 per cent this year, according to Colliers International Group. 'People often use leverage to purchase additional properties, amplifying returns when prices rise, but also magnifying losses when prices drop,' said Christopher So, a partner at PricewaterhouseCoopers in Hong Kong. 'As the market weakens, rental demand and yields also decrease, impacting cash flow for servicing debt and leading to rising rate of default.' Mr Chan bet big on Hong Kong property, investing in residential units, retail shops and parking spaces. He made his name in real estate in 2017 when he joined a consortium to spend US$5.2 billion (S$6.7 billion) to take over most floors of the Center, a skyscraper in the financial hub's business district. He sold two floors to DBS Bank for more than HK$1.3 billion combined last year, according to land registry filings. It was lower than what he paid for, local media reported. For Gale Well's Mr Tong, he and his sister Rita Tong put about HK$2.2 billion worth of properties up for sale this year, according to data compiled by Bloomberg. They include luxury homes, offices and a shop space. In November, Jacinto Tong said 'making money or posting a loss is a secondary matter, and the most important thing is to avoid negative equity,' according to his Facebook post for a hotel sale. He added that the company was trying to maintain a healthy leverage ratio. Last year, a prominent local clan led by Ho Shung Pun sold seven luxury houses at the Peak to pay back private loans. The flurry of offerings adds pressure to a property market that's seen one of its longest downturns. Home prices are 29 per cent below their peak in 2021, government data show. The number of households with negative equity – when the value of a property is lower than the outstanding mortgage loan – rose to the highest since 2003 at the end of March. Luxury home transactions have been improving since the last quarter of 2024, but prices aren't reflecting the sentiment due to a surplus of distressed assets, according to a Savills report in March. BLOOMBERG Join ST's Telegram channel and get the latest breaking news delivered to you.
Yahoo
17-03-2025
- Business
- Yahoo
Colliers International Group Inc. (TSE:CIGI) is favoured by institutional owners who hold 66% of the company
Significantly high institutional ownership implies Colliers International Group's stock price is sensitive to their trading actions The top 14 shareholders own 51% of the company Insiders own 14% of Colliers International Group Every investor in Colliers International Group Inc. (TSE:CIGI) should be aware of the most powerful shareholder groups. With 66% stake, institutions possess the maximum shares in the company. Put another way, the group faces the maximum upside potential (or downside risk). Given the vast amount of money and research capacities at their disposal, institutional ownership tends to carry a lot of weight, especially with individual investors. As a result, a sizeable amount of institutional money invested in a firm is generally viewed as a positive attribute. Let's take a closer look to see what the different types of shareholders can tell us about Colliers International Group. Check out our latest analysis for Colliers International Group Institutional investors commonly compare their own returns to the returns of a commonly followed index. So they generally do consider buying larger companies that are included in the relevant benchmark index. As you can see, institutional investors have a fair amount of stake in Colliers International Group. This implies the analysts working for those institutions have looked at the stock and they like it. But just like anyone else, they could be wrong. If multiple institutions change their view on a stock at the same time, you could see the share price drop fast. It's therefore worth looking at Colliers International Group's earnings history below. Of course, the future is what really matters. Investors should note that institutions actually own more than half the company, so they can collectively wield significant power. Our data indicates that hedge funds own 5.2% of Colliers International Group. That's interesting, because hedge funds can be quite active and activist. Many look for medium term catalysts that will drive the share price higher. Looking at our data, we can see that the largest shareholder is the CEO Jay Hennick with 13% of shares outstanding. With 5.5% and 5.2% of the shares outstanding respectively, RBC Global Asset Management Inc. and Durable Capital Partners, LP are the second and third largest shareholders. A closer look at our ownership figures suggests that the top 14 shareholders have a combined ownership of 51% implying that no single shareholder has a majority. While studying institutional ownership for a company can add value to your research, it is also a good practice to research analyst recommendations to get a deeper understand of a stock's expected performance. There are a reasonable number of analysts covering the stock, so it might be useful to find out their aggregate view on the future. While the precise definition of an insider can be subjective, almost everyone considers board members to be insiders. The company management answer to the board and the latter should represent the interests of shareholders. Notably, sometimes top-level managers are on the board themselves. Insider ownership is positive when it signals leadership are thinking like the true owners of the company. However, high insider ownership can also give immense power to a small group within the company. This can be negative in some circumstances. Our most recent data indicates that insiders own a reasonable proportion of Colliers International Group Inc.. Insiders own CA$1.3b worth of shares in the CA$8.9b company. That's quite meaningful. It is good to see this level of investment. You can check here to see if those insiders have been buying recently. The general public-- including retail investors -- own 15% stake in the company, and hence can't easily be ignored. This size of ownership, while considerable, may not be enough to change company policy if the decision is not in sync with other large shareholders. I find it very interesting to look at who exactly owns a company. But to truly gain insight, we need to consider other information, too. Be aware that Colliers International Group is showing 1 warning sign in our investment analysis , you should know about... Ultimately the future is most important. You can access this free report on analyst forecasts for the company. NB: Figures in this article are calculated using data from the last twelve months, which refer to the 12-month period ending on the last date of the month the financial statement is dated. This may not be consistent with full year annual report figures. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Sign in to access your portfolio
Yahoo
03-03-2025
- Business
- Yahoo
High Insider Ownership Growth Stocks On TSX For March 2025
As the Canadian market navigates a period of sideways consolidation, investors are focusing on strategies to fortify their portfolios against potential volatility, with diversification proving to be a key approach. In this environment, growth companies with high insider ownership on the TSX stand out as potentially resilient options due to their alignment of interests between management and shareholders, which can be particularly appealing during times of market uncertainty. Name Insider Ownership Earnings Growth Propel Holdings (TSX:PRL) 36.5% 38.1% Vox Royalty (TSX:VOXR) 11.9% 83.3% Allied Gold (TSX:AAUC) 17.7% 85.1% Robex Resources (TSXV:RBX) 25.7% 141.5% Orla Mining (TSX:OLA) 11.5% 50.5% West Red Lake Gold Mines (TSXV:WRLG) 13.5% 76.8% Aritzia (TSX:ATZ) 18.4% 41.1% Enterprise Group (TSX:E) 32.2% 26.7% Burcon NutraScience (TSX:BU) 12.8% 152.2% CHAR Technologies (TSXV:YES) 10.8% 63% Click here to see the full list of 35 stocks from our Fast Growing TSX Companies With High Insider Ownership screener. Let's dive into some prime choices out of the screener. Simply Wall St Growth Rating: ★★★★☆☆ Overview: Colliers International Group Inc. is a global provider of commercial real estate services to corporate and institutional clients across multiple regions including the United States, Canada, Europe, and Asia-Pacific, with a market cap of CA$9.41 billion. Operations: The company's revenue segments consist of Real Estate Services at $3.07 billion, Engineering at $1.24 billion, and Investment Management at $512.59 million. Insider Ownership: 14.1% Earnings Growth Forecast: 17.6% p.a. Colliers International Group, with a high level of debt, has seen significant insider selling recently. Despite this, its earnings are forecast to grow at 17.6% annually, outpacing the Canadian market's 15.8%. Recent executive changes include Felix von Saucken's promotion to CEO in Germany. The company reported strong financial results for 2024 with net income rising substantially from US$65.54 million to US$161.73 million and sales reaching US$4.82 billion from US$4.34 billion the previous year. Delve into the full analysis future growth report here for a deeper understanding of Colliers International Group. Upon reviewing our latest valuation report, Colliers International Group's share price might be too optimistic. Simply Wall St Growth Rating: ★★★★☆☆ Overview: Savaria Corporation offers accessibility solutions for the elderly and physically challenged across Canada, the United States, Europe, and internationally with a market cap of CA$1.29 billion. Operations: The company's revenue segments include Patient Care, which generated CA$184.01 million, and a Segment Adjustment of CA$677.25 million. Insider Ownership: 17.2% Earnings Growth Forecast: 31.4% p.a. Savaria Corporation is poised for robust growth, with earnings projected to rise significantly at 31.4% annually, outpacing the Canadian market's 15.8%. Revenue is expected to grow at 7.1% per year, exceeding the market average of 5.1%. The stock trades at a substantial discount of 30.8% below its estimated fair value and maintains a consistent dividend policy, recently affirming payouts of C$0.045 per share monthly through March 2025. Get an in-depth perspective on Savaria's performance by reading our analyst estimates report here. The valuation report we've compiled suggests that Savaria's current price could be quite moderate. Simply Wall St Growth Rating: ★★★★★☆ Overview: VersaBank offers a range of banking products and services in Canada and the United States, with a market cap of CA$590.74 million. Operations: The company's revenue segments include CA$1.53 million from Digital Banking in the USA, CA$102.10 million from Digital Banking in Canada, and CA$9.64 million from DRTC, which encompasses cybersecurity services and banking and financial technology development. Insider Ownership: 10.7% Earnings Growth Forecast: 45.3% p.a. VersaBank is positioned for significant growth, with earnings projected to increase 45.3% annually and revenue expected to rise 29.4%, both surpassing Canadian market averages. The stock trades at a substantial discount of 64% below its estimated fair value, and insiders have been buying more shares than selling over the past three months. Recently, VersaBank completed a C$75 million equity offering, though shareholders experienced dilution in the past year. Navigate through the intricacies of VersaBank with our comprehensive analyst estimates report here. Our comprehensive valuation report raises the possibility that VersaBank is priced lower than what may be justified by its financials. Dive into all 35 of the Fast Growing TSX Companies With High Insider Ownership we have identified here. Are any of these part of your asset mix? Tap into the analytical power of Simply Wall St's portfolio to get a 360-degree view on how they're shaping up. Invest smarter with the free Simply Wall St app providing detailed insights into every stock market around the globe. Explore high-performing small cap companies that haven't yet garnered significant analyst attention. Diversify your portfolio with solid dividend payers offering reliable income streams to weather potential market turbulence. Find companies with promising cash flow potential yet trading below their fair value. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks analysis only considers stock directly held by insiders. It does not include indirectly owned stock through other vehicles such as corporate and/or trust entities. All forecast revenue and earnings growth rates quoted are in terms of annualised (per annum) growth rates over 1-3 years. Companies discussed in this article include TSX:CIGI TSX:SIS and TSX:VBNK. Have feedback on this article? Concerned about the content? with us directly. Alternatively, email editorial-team@
Yahoo
28-02-2025
- Business
- Yahoo
TSX Stocks Priced Below Estimated Intrinsic Value In February 2025
As the Canadian market navigates a landscape of stabilizing yields and moderated inflation, the TSX has seen a modest rise of 3% in early 2025. In this environment, identifying stocks priced below their intrinsic value can offer potential opportunities for investors seeking to capitalize on economic conditions that may favor well-positioned companies. Name Current Price Fair Value (Est) Discount (Est) Tourmaline Oil (TSX:TOU) CA$66.28 CA$127.89 48.2% Decisive Dividend (TSXV:DE) CA$6.26 CA$11.52 45.7% Thunderbird Entertainment Group (TSXV:TBRD) CA$1.75 CA$3.37 48.1% Groupe Dynamite (TSX:GRGD) CA$15.80 CA$28.43 44.4% Kinaxis (TSX:KXS) CA$160.59 CA$318.64 49.6% Quisitive Technology Solutions (TSXV:QUIS) CA$0.56 CA$1.06 47.3% Electrovaya (TSX:ELVA) CA$3.225 CA$6.00 46.2% Wishpond Technologies (TSXV:WISH) CA$0.32 CA$0.57 43.6% Enterprise Group (TSX:E) CA$2.11 CA$4.15 49.1% Condor Energies (TSX:CDR) CA$1.74 CA$3.41 48.9% Click here to see the full list of 31 stocks from our Undervalued TSX Stocks Based On Cash Flows screener. Here we highlight a subset of our preferred stocks from the screener. Overview: Colliers International Group Inc. is a global provider of commercial real estate services to corporate and institutional clients across various regions, with a market cap of approximately CA$9.23 billion. Operations: The company's revenue segments include Engineering at $1.24 billion, Real Estate Services at $3.07 billion, and Investment Management at $512.59 million. Estimated Discount To Fair Value: 15% Colliers International Group is trading at CA$184.37, about 15% below its estimated fair value of CA$216.92, suggesting potential undervaluation based on cash flows. Despite a high debt level, earnings are expected to grow at 17.6% annually, outpacing the Canadian market average of 16%. Recent executive changes and an expanded credit facility enhance growth prospects but significant insider selling may raise caution among investors. Upon reviewing our latest growth report, Colliers International Group's projected financial performance appears quite optimistic. Unlock comprehensive insights into our analysis of Colliers International Group stock in this financial health report. Overview: Docebo Inc. is a learning management software company offering an AI-powered learning platform across North America and internationally, with a market cap of CA$1.65 billion. Operations: The company generates revenue primarily from its educational software segment, amounting to $209.17 million. Estimated Discount To Fair Value: 29.0% Docebo, trading at CA$53.85, is 29% below its estimated fair value of CA$75.86, highlighting potential undervaluation based on cash flows. Earnings have surged significantly and are projected to grow at 39.2% annually, outpacing the Canadian market's growth rate. A strategic partnership with Class Technologies enhances virtual training capabilities while recent executive changes may introduce some uncertainty as the company transitions to a new CFO after February 28, 2025. In light of our recent growth report, it seems possible that Docebo's financial performance will exceed current levels. Get an in-depth perspective on Docebo's balance sheet by reading our health report here. Overview: Kinaxis Inc. offers cloud-based subscription software for supply chain operations across the United States, Europe, Asia, and Canada with a market cap of CA$4.29 billion. Operations: Kinaxis generates revenue through its cloud-based subscription software designed for supply chain management across regions including the United States, Europe, Asia, and Canada. Estimated Discount To Fair Value: 49.6% Kinaxis, trading at CA$160.59, is 49.6% below its estimated fair value of CA$318.64, suggesting undervaluation based on cash flows. Despite a challenging year with net income dropping to US$0.056 million from US$10.06 million in 2023 and impairment losses reported, the company's earnings are expected to grow significantly at 83.4% annually over the next three years, outpacing the Canadian market's growth rate of 16%. Our earnings growth report unveils the potential for significant increases in Kinaxis' future results. Dive into the specifics of Kinaxis here with our thorough financial health report. Unlock our comprehensive list of 31 Undervalued TSX Stocks Based On Cash Flows by clicking here. Are any of these part of your asset mix? Tap into the analytical power of Simply Wall St's portfolio to get a 360-degree view on how they're shaping up. Unlock the power of informed investing with Simply Wall St, your free guide to navigating stock markets worldwide. Explore high-performing small cap companies that haven't yet garnered significant analyst attention. Diversify your portfolio with solid dividend payers offering reliable income streams to weather potential market turbulence. Fuel your portfolio with companies showing strong growth potential, backed by optimistic outlooks both from analysts and management. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include TSX:CIGI TSX:DCBO and TSX:KXS. Have feedback on this article? Concerned about the content? with us directly. Alternatively, email editorial-team@ Sign in to access your portfolio
