https://www.scmp.com/rss/501141/feed en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Magnolia Quality Development Corporation, the developer of an ultra luxury apartment complex in Thailand, said it had to put off the marketing plan to sell the remaining units of its project in Hong Kong, as 11 weeks of protest rallies in the city showed no signs of letting up. At The Residences at Mandarin Oriental in Bangkok, a 52-storey ultra-luxury condominium completed last week, about 30 per cent had been sold to foreign buyers, of which the majority were from Hong Kong and mainland China.... https://www.scmp.com/business/article/3023447/hong-kongs-protest-rallies-force-thai-developer-defer-sales-launch-ultra?utm_source=rss_feed https://www.scmp.com/business/article/3023447/hong-kongs-protest-rallies-force-thai-developer-defer-sales-launch-ultra?utm_source=rss_feed Tue, 20 Aug 2019 00:00:10 +0000 China Resources Beer, maker of the world’s bestselling beer Snow, said on Friday it is exploring the possibility of acquiring a minority stake in Budweiser APAC, the Asian unit of Belgian-based Anheuser-Busch InBev. “We’re paying close attention to this issue and evaluating its business, but we have yet to decide whether we are interested and if [the acquisition] will fit into the expansion plans for China Resources Beer,” executive director and chief executive Hou Xiaohai said in response to a... https://www.scmp.com/business/china-business/article/3023175/china-resources-beer-explores-possibility-minority-stake?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3023175/china-resources-beer-explores-possibility-minority-stake?utm_source=rss_feed Fri, 16 Aug 2019 11:26:55 +0000 Hong Kong’s super rich are increasingly looking to buy homes in the United States and relocate there, having grown tired of local protests, moderating growth in the region, and escalating US-China tensions, according to Edward Mermelstein, a wealth management consultant based in New York. His firm, One & Only Realty, handles relocation and related business including luxury property investment starting at US$10 million. Over the past two weeks, his company has received four inquiries from Hong... https://www.scmp.com/business/money/wealth/article/3022720/bitter-unrest-hong-kong-prompts-citys-ultra-rich-look-packing?utm_source=rss_feed https://www.scmp.com/business/money/wealth/article/3022720/bitter-unrest-hong-kong-prompts-citys-ultra-rich-look-packing?utm_source=rss_feed Wed, 14 Aug 2019 05:57:33 +0000 Hundreds of black-clad demonstrators descended on Hong Kong International Airport to support the second day of an illegal anti-government sit-in on Saturday. By 3.30pm, an estimated 1,000 protesters had joined a handful of others who spent the night in the airport’s arrivals hall. Seated in organised blocks to allow a path for airport staff, they busied themselves by making posters or greeting arriving travellers, and sporadically broke out into chants of “add oil, Hong Kong!” and “fight for... https://www.scmp.com/news/hong-kong/transport/article/3022251/numbers-dwindle-hong-kong-international-airport-protest?utm_source=rss_feed https://www.scmp.com/news/hong-kong/transport/article/3022251/numbers-dwindle-hong-kong-international-airport-protest?utm_source=rss_feed Sat, 10 Aug 2019 03:04:52 +0000 Trade event organisers in Hong Kong are assessing the economic impact from weeks of unresolved civil protests, amid concern the city’s brand as a meeting and event hub could be under threat. How much the protest movement has weighed on the local event management industry is hard to gauge, partly because of the diverse range of events scheduled in Hong Kong and question marks as to whether visitors will be discouraged from taking part in the coming months. Six events ranging from consumer... https://www.scmp.com/business/markets/article/3021063/hong-kongs-trade-show-organisers-hope-city-under-siege-image-wont?utm_source=rss_feed https://www.scmp.com/business/markets/article/3021063/hong-kongs-trade-show-organisers-hope-city-under-siege-image-wont?utm_source=rss_feed Thu, 01 Aug 2019 23:30:09 +0000 Leaving the special administrative region has always been on many Hongkongers’ minds. But frustration and fear over the erosion of freedoms that have led to huge protest rallies may prove to be the final straw. As Hong Kong’s summer of discontent rolls into yet another weekend of protests, property agencies say they have witnessed a surge in demand for overseas residences over the past two months. Golden Emperor Properties, an investment agency, will launch Park Regent, a freehold condominium... https://www.scmp.com/business/article/3020266/surge-hongkongers-seeking-move-abroad-over-past-two-months-property?utm_source=rss_feed https://www.scmp.com/business/article/3020266/surge-hongkongers-seeking-move-abroad-over-past-two-months-property?utm_source=rss_feed Sat, 27 Jul 2019 01:00:10 +0000 Macau’s residential property market has fallen victim to the protracted US-China trade war, as investor sentiment sours and developers hold off on new projects. Home sales in the world’s largest gambling hub, which sits off the coast of southern China, plunged 42.2 per cent in the first half from the same period a year earlier, to 3,920 registered transactions, said JLL, citing statistics from DSF, the financial services bureau of the Macau government. The value of properties sold also was... https://www.scmp.com/business/article/3020091/macaus-first-half-home-sales-plunge-us-china-trade-war-dampened-sentiments?utm_source=rss_feed https://www.scmp.com/business/article/3020091/macaus-first-half-home-sales-plunge-us-china-trade-war-dampened-sentiments?utm_source=rss_feed Thu, 25 Jul 2019 09:59:54 +0000 The ongoing protests that have expanded to different districts of the city will hurt restaurants, putting further pressure on landlords to cut rents if the demonstrations persist, say industry observers. In the past six weeks, Hong Kong has been rocked by a series of mass rallies and clashes between protesters and the police, sparked by the now-suspended extradition bill which would have allowed the transfer of fugitives to regions such as mainland China and Taiwan. This resulted in road... https://www.scmp.com/property/hong-kong-china/article/3018801/protests-cast-shadow-restaurant-rents-causeway-bay-and?utm_source=rss_feed https://www.scmp.com/property/hong-kong-china/article/3018801/protests-cast-shadow-restaurant-rents-causeway-bay-and?utm_source=rss_feed Tue, 16 Jul 2019 23:00:09 +0000 Two of Hong Kong’s biggest commercial banks have cut their valuation of pre-owned homes in several housing estates in anticipation of declining prices, after the city was rocked over the past month by a record number of street protests. HSBC and Bank of China (Hong Kong), two of the city’s three currency printing banks, cut their valuations for used homes in the New Territories and Kowloon by up to 3.6 per cent, according to data on their websites. “Valuations have dropped as a result of the... https://www.scmp.com/business/article/3017911/two-hong-kong-banks-cut-their-valuation-used-homes-citys-civic-unrest?utm_source=rss_feed https://www.scmp.com/business/article/3017911/two-hong-kong-banks-cut-their-valuation-used-homes-citys-civic-unrest?utm_source=rss_feed Tue, 09 Jul 2019 11:06:26 +0000 Hong Kong’s retail leasing market is expected to slow further in the second half as sales continue to slump because of the US-China trade war and uncertainty over protests against the extradition bill, industry observers say. Overall rent for shops along prime shopping streets fell 1.2 per cent quarter on quarter from April to June, with Central recording the sharpest drop at 3.8 per cent, real estate research and consultancy firm Savills said. “In the first half of the year, business has been... https://www.scmp.com/business/article/3017762/outlook-hong-kong-retail-rents-bleak-trade-war-and-protests-dampen-sales?utm_source=rss_feed https://www.scmp.com/business/article/3017762/outlook-hong-kong-retail-rents-bleak-trade-war-and-protests-dampen-sales?utm_source=rss_feed Mon, 08 Jul 2019 23:00:18 +0000 Belgian brewing giant Anheuser-Busch InBev NV (AB InBev) kick-started the mega listing of its Asia business, Budweiser Brewing Company APAC, in Hong Kong with an investor roadshow on Wednesday, as it inches closer to completing what will be the world’s biggest initial public offering this year. Budweiser Brewing, the largest beer maker in Asia-Pacific by volume, plans to raise up to US$9.8 billion in capital by selling 1.6 billion primary shares at between HK$40 and HK$47 apiece, according to... https://www.scmp.com/business/companies/article/3017128/beer-giant-ab-inbev-kicks-us98-billion-ipo-asian-business-hong?utm_source=rss_feed https://www.scmp.com/business/companies/article/3017128/beer-giant-ab-inbev-kicks-us98-billion-ipo-asian-business-hong?utm_source=rss_feed Wed, 03 Jul 2019 11:45:09 +0000 Hong Kong’s retail sales are expected to slump 5 per cent to HK$460 billion (US$59 billion) for the full year, dragged down by economic uncertainty and a decline in mainland Chinese tourists, according to international advisory firm PriceWaterCoopers (PwC). The estimate is a downgrade from its earlier forecast of a 3 per cent drop in sales, reflecting a weaker outlook, as government statistics showed first-quarter retail sales falling 2 per cent compared to the same period last year. “The... https://www.scmp.com/business/money/market-snapshot/article/3016219/hong-kongs-retail-sales-will-drop-5-cent-year-amid?utm_source=rss_feed https://www.scmp.com/business/money/market-snapshot/article/3016219/hong-kongs-retail-sales-will-drop-5-cent-year-amid?utm_source=rss_feed Wed, 26 Jun 2019 22:15:08 +0000 Two major international financial institutions have joined a growing chorus of voices urging investors not to be too optimistic about a significant deal between the US and China being reached this weekend. Analysts at Bank of America Merrill Lynch and Barings, a global asset manager, said it is unlikely trade tensions between the world’s two largest economies will be fully resolved at a meeting between the countries’ leaders at the Group of 20 summit. As the trade war uncertainty and its ripple... https://www.scmp.com/business/banking-finance/article/3016162/xi-trump-talks-g20-unlikely-end-trade-war-warn-bank?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3016162/xi-trump-talks-g20-unlikely-end-trade-war-warn-bank?utm_source=rss_feed Wed, 26 Jun 2019 08:57:12 +0000 Prime office rents in Hong Kong’s Central district are the most expensive globally for a fourth straight year, with growth in rents across Asia doubling year on year, US commercial real estate services and investment firm CBRE said in a report on Tuesday. Currently, six of the 10 most expensive office markets are in Asia, and rental growth in the region has almost doubled year on year to 3.3 per cent. The average annual rent for a prime office in Central, inclusive of taxes and fees, rose to... https://www.scmp.com/property/hong-kong-china/article/3016025/prime-hong-kong-office-rents-are-most-expensive-globally?utm_source=rss_feed https://www.scmp.com/property/hong-kong-china/article/3016025/prime-hong-kong-office-rents-are-most-expensive-globally?utm_source=rss_feed Tue, 25 Jun 2019 12:15:05 +0000 Marc Zielinski, Decathlon Hong Kong’s chief executive, loves to run outside work hours. But when it comes to expanding the French sports equipment company in Hong Kong, he says: “It is not a race.” “Yes, we have plans to expand. But we like to say we open where we are needed,” Zielinski told the South China Morning Post this month during the soft launch of Decathlon’s third store in Tseung Kwan O, about two years after the brand first entered Hong Kong. The 36,000 sq ft retail space, which the... https://www.scmp.com/business/companies/article/3015617/french-sporting-goods-brand-decathlon-bets-try-it-you-buy-it?utm_source=rss_feed https://www.scmp.com/business/companies/article/3015617/french-sporting-goods-brand-decathlon-bets-try-it-you-buy-it?utm_source=rss_feed Sun, 23 Jun 2019 05:30:20 +0000 Impro Precision, a major Chinese maker of parts used in cars, construction and aerospace equipment, said it is localising its factories to reduce exposure to tariffs as the trade war intensifies. The Hong Kong-based precision manufacturing company, which has factories in mainland China and Europe, is seeking to open a larger plant in Mexico to supply US customers, which generated 42 per cent of its HK$3.75 billion revenue last year. To raise funds to build the plant, it announced a global... https://www.scmp.com/business/companies/article/3015042/how-chinese-machine-parts-manufacturer-impro-precision?utm_source=rss_feed https://www.scmp.com/business/companies/article/3015042/how-chinese-machine-parts-manufacturer-impro-precision?utm_source=rss_feed Tue, 18 Jun 2019 10:08:49 +0000 Homebuyers in Hong Kong are looking at Malaysian property as second homes and for retirement, with Kuala Lumpur, Penang and Johor Bahru garnering a lot of interest because of affordable prices amid a supply glut. Terence Law, senior principal project director at Centaline Property Agency, said that more than half of the 21 units released on June 7 at a condominium project in Johor Bahru were snapped up within the weekend by buyers from Hong Kong. The units were priced from HK$787,331... https://www.scmp.com/property/international/article/3014945/hong-kong-investors-snap-affordable-property-malaysia-eye?utm_source=rss_feed https://www.scmp.com/property/international/article/3014945/hong-kong-investors-snap-affordable-property-malaysia-eye?utm_source=rss_feed Tue, 18 Jun 2019 01:00:15 +0000 China Tobacco International, the overseas subsidiary of China’s state-owned tobacco monopoly and the world’s largest cigarette maker, picked up pace after a lacklustre trading debut in Hong Kong on Wednesday, as the company’s initial public offering proved extremely popular with retail investors. The shares began trading in Hong Kong at HK$4.97, 1.8 per cent premium to its initial public offering (IPO) price of HK$4.88. The stock picked up pace even as the market declined amid street protests,... https://www.scmp.com/business/investor-relations/ipo-quote-profile/article/3014150/overseas-unit-chinas-state-owned?utm_source=rss_feed https://www.scmp.com/business/investor-relations/ipo-quote-profile/article/3014150/overseas-unit-chinas-state-owned?utm_source=rss_feed Wed, 12 Jun 2019 05:06:24 +0000