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Fullerton Heritage, Singapore
Investor FAQs and Presentation
Home > Investor Relations > Sino Land Company Limited > Investor FAQs and Presentation
1. What are your principal business activities?

Our principal business activities comprise:

  • Development of properties for sale;
  • Property rentals;
  • Hotel operations; and
  • Property services, including estate management, cleaning, car park management and security.
2. How did your property sales perform for the year ended 30 June 2018?
Total revenue from property sales for the year ended 30th June, 2018, including property sales of associates and joint ventures recognised by the Group, was HK$8,890.5 million (2016/2017 : HK$15,029.1 million). Total revenue from property sales comprises mainly the sales of residential units in The Spectra (99% sold) in Yuen Long, The Mediterranean (90% sold) and Park Mediterranean (78% sold), both in Sai Kung, Botanica Bay (100% sold) in Lantau, Dragons Range (100% sold) in Kau To, Providence Bay (99% sold) in Pak Shek Kok, Marinella (99% sold) in Aberdeen and Phase II of Dynasty Park (99% sold) in Zhangzhou.
3. How have been the sales of your major residential projects?

In addition to the sales of residential projects mentioned above, the Group launched the following projects in Hong Kong and to date, sales progress is summarised below:

Location

Group's
Interest

Usage

Attributable
floor area

(square feet)

Percentage of
total number of
units sold (approx.)

Commune Modern,
28 Wo Fung Street,
Fanling,
New Territories,
Hong Kong

100%

Residential/
Commercial/
Car Park

209,909

98%

Madison Park,
1 Kowloon Road,
Cheung Sha Wan,
Hong Kong

100%*

Residential 

52,571

63%

     

 


262,480

 
         
*Joint venture with the Urban Renewal Authority



4. Which new projects in Hong Kong would be available for launch to the market in the second half of 2018?

New projects for potential launches in the second half of 2018 are summarised below:

Location
 
Group's Interest
 
     Usage
 

Attributable
floor area

(square feet)

 
Grand Central
NKIL 6514, Kwun Tong Town Centre Development Areas 2 & 3,
Kwun Tong,
Kowloon
 
90%*   Residential 1,346,383  
Mayfair By The Sea 8
1 Fo Yin Road,
Pak Shek Kok (East),
New Territories,
Hong Kong
 
100%   Residential 412,530  
       

 


1,758,913

 
           
*Joint venture with the Urban Renewal Authority

5. How did your property rental business perform for the year ended 30 June 2018?

Our gross attributable rental income increased 3.3% for the year ended 30 June 2018 to HK$4,082.5 million (2016/2017: HK$3,949.1 million) and net rental income increased 2.4% to HK$3,572.0 million (2016/2017: HK$3,486.0 million).

6. What is the Group's land banking replenishment plan?
The Group will maintain a policy of selectively and continuously replenishing its land bank, which will enable it to strengthen earnings and shareholders' value.

During the year ended 30 June 2018, the Group acquired in Hong Kong two sites from the HKSAR Government as well as the development rights of four sites with a total attributable floor area of approximately 1.2 million square feet. Details of the projects are as follows:


Location

Group's
Interest

Usage

Attributable
floor area

(square feet)

 

Nos. 139-147 Argyle Street,
Ho Man Tin,
Kowloon,
Hong Kong

Joint
Venture

Residential
 

309,707

 
NKIL 6602
Yau Tong Ventilation Building Property Development,
Ko Chiu Road, Yau Tong,
Kowloon,
Hong Kong
 
Joint
Venture
Residential 260,274  

AIL 467 (Site B)
Wong Chuk Hang Station Package
Two Property Development,
Aberdeen,
Hong Kong

Joint 
Venture

Residential
 

246,496

 

NKIL 6549
Off Hing Wah Street West,
Cheung Sha Wan,
Kowloon,
Hong Kong

22.5%

Residential
 

222,258

 

STTL 611
Whitehead,
Ma On Shan,
Sha Tin,
New Territories,
Hong Kong

100%

Residential
 

119,351

 

KIL 11254
Reclamation Street/Shantung Street,
Mongkok,
Kowloon,
Hong Kong

Joint
Venture

Residential
 

67,322

 
     

 


1,225,408

 
7. What is your development pipeline in Mainland China?

As at 30 June 2018, the Group has approximately 4.3 million square feet of attributable plot ratio area currently under development. These projects included 100% interest in Dynasty Park in Zhangzhou, 50% interest in a serviced apartment project in Qianhai and 20% interest in The Palazzo in Cheungdu.

8. What hotels do you have?

Our hotels comprise The Fullerton Hotel Singapore, The Fullerton Bay Hotel Singapore, The Olympian Hong Kong in West Kowloon, 50% interest in The Westin Sydney and 30% interest in Conrad Hong Kong.

9. What is your gearing and financial position?

As at 30 June 2018, the Group had cash and bank deposits of HK$22,393.2 million. After netting off total borrowings of HK$2,375.7 million, the Group had net cash of HK$20,017.5 million as at 30th June, 2018. Cash and undrawn committed credit facilities (including attributable share of associates and joint ventures) as at 30 June 2018 were approximately HK$24,605.2 million enabling the Group to be well-positioned to acquire land with good development value.

10. With your low gearing and strong financial position, how do you intend to use your cash?

We target to deploy our cash for the following purposes:

  • To replenish our land bank in both Hong Kong and China with a focused and selective approach for projects that have good development value;
  • To pay a stable dividend to our shareholders; and
  • To buy back shares of Sino Land

  Investor Presentation