CHKGF - CK Asset: Too Early To Be Bullish
2024-03-24 03:27:29 ET
Summary
- CK Asset Holdings' key headline financial numbers and dividend distribution for FY 2023 were not as good as what the sell-side analysts expected.
- Notwithstanding the below expectations results, CK Asset has a strong financial position, and the stock is trading at a substantial discount to book value.
- I maintain my Hold rating for CK Asset, as it is too early to turn positive on the stock's prospects given that the Hong Kong property market outlook is mixed.
Elevator Pitch
CK Asset Holdings Limited ( OTCPK:CHKGF ) [1113:HK] is rated as a Hold. On its corporate website , CK Asset calls itself a "multinational conglomerate" that is "one of the largest property developers in Hong Kong."...
CK Asset: Too Early To Be Bullish