HSBC Says It May Lower SHKP¡¦s 2002NAV and Profit forecast

HSBC Securities said though the full-year results of Sun Hung Kai Properties (0016) were in line with its expectations, it is still possible to lower its NAV and profit forecasts for 2002. In a report to clients today, analyst Derek Cheung said given the material global uncertainties ahead, it has performed two scenario analysis. 1: residential prices fall 10 percent and Grade A office rentals drop 30 percent 2: residential prices fall 20 percent and Grade A office rentals drop 30 percent

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