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I maintain a Neutral rating on Hong Kong-listed Sands China Ltd. (SCHYY) (SCHYF) [1928:HK], a subsidiary of Las Vegas Sands (LVS).
This is an update of my prior article on Sands China published on February 6, 2020. Sands China's share price has declined by -21% from HK$37.70 as of February 5, 2020, to HK$29.70 as of July 30, 2020, since my last update. Sands China trades at 17.6 times consensus forward FY2021 P/E, and it offers a consensus forward FY2021 dividend yield of 6.1%.