Elevator Pitch
I like Hong Kong-listed Mainland China property developer Times China Holdings Limited (TMPPF) [1233:HK] for its ability to source land bank from urban redevelopment projects and its significant exposure to the Greater Bay Area. The stock's valuation is inexpensive as well. Times China trades at 4.2 times consensus forward FY2019 P/E on par with its historical five-year forward P/E of approximately 4 times.
However, Times China's high funding cost at 7.55% and high proportion of USD-denominated debt at 39% of total debt remain concerns. Also, the lack of corporate actions-related catalysts