Quotees Archive

The sudden attacks on the United States of America brought about adverse effects on the global economy in the short term. However, Mainland China has until now been able to maintain its economic growth on a steady course.

- Lee Shau Kee

The U.S. is talking about keeping interest rates near zero.

- Lee Shau Kee

There are abundant business opportunities to bring about the recovery of the local economy.

- Lee Shau Kee

There’s no point in… just giving them money

- Lee Shau Kee

Though the external environment is still fraught with uncertainties, mainland China, which has been less affected by the global financial tsunami, is expected to keep growing from strength to strength despite fine tuning of its moderately loose monetary policy on concerns of overheating in the property sector and inflation risk.

- Lee Shau Kee

Try to maximize the number of people that can benefit from an individual contribution.

- Lee Shau Kee

Use money to make money.

- Lee Shau Kee

Use money to make money. Save your ‘first bucket of gold.’ or small fortune – but then use it for investments. Don’t just park money in the bank.

- Lee Shau Kee

We are in turbulent times.

- Lee Shau Kee

We will be one of the most productive residential developers in China in the next few years.

- Lee Shau Kee

Why do you ask so much?

- Lee Shau Kee

With residential property prices having dropped by around two-thirds from their peak in 1997 and local interest rates dropping to their historic lows, mortgage payments currently falls below rental payment. This positive carry has led to property purchases by both home purchasers as well as investors. Further, with the local stock market becoming active again and reaching its highest level in the past 17 months, this has resulted in an increase in the number of transactions and a price for the luxury properties.

- Lee Shau Kee

With sustained recovery of the local economy, marked improvement in consumer spending and increasing tourist arrivals from Mainland China, these led to the expansion of certain local retail trades including cosmetics, audio-visual products and jewellery which in turn boosted the demand for retail shop spaces.

- Lee Shau Kee

Work hard and persevere.

- Lee Shau Kee

Yields will rise with prices, and this will generate steady income.

- Lee Shau Kee

The Group has always adhered to prudent financial management principles.

- Lee Shau Kee

The Group has three areas. The first is Henderson Land the listed company. Now it has a total developable land bank of 75 million square feet of gross floor area in China. I hope that in the next two or three months that figure can rise to 150 million square feet. That would be a remarkable feet. So, Henderson is one hope. The second is Hong Kong and China Gas, which I also have high hopes for. In the mainland we already have had many projects in 12 cities there. No, actually I mean, we have projects in 55 cities in 12 provinces. Probably about 60 in total that we are working on. So that is the second area. The third area or hope is Shau Kee Finance. It’s assets have already doubled from $50 billion and I hope they can double again to $200 billion.

- Lee Shau Kee

The Group is rapidly increasing its activities in Mainland China, where it now has projects ranging from landmark commercial developments in the major cities of Beijing and Shanghai to massive residential schemes in the second-tier cities.

- Lee Shau Kee

The Group recorded totals sales of around 3,300 property units from which approximately HK$6,810 million was generated from sales revenues attributable to the Group.

- Lee Shau Kee

The Group sold an attributable HK$3,434.6 million worth of properties in Hong Kong as compared with HK$6,810.9 million for the year before. In light of the then cautious market sentiment, the Group decided to defer the launch of a few new developments…

- Lee Shau Kee

The Group’s performance will continue to improve in future upon return of the local economy on an upward recovery track.

- Lee Shau Kee

The local property leasing market generally experienced a slowdown and rental was subject to downward pressure. However, the investment properties of the [Henderson] Group are represented mainly by shopping podiums located in the new towns and these properties were less affected as compared with the retail shopping premises located in the urban areas.

- Lee Shau Kee

The local property market remained volatile throughout the period under review due to negative developments occurring both in the local as well as overseas markets.

- Lee Shau Kee

The local property market witnessed a slowdown following the 9-11 incident in the United States, under an environment of high unemployment and sustained deflation in Hong Kong. On the whole, property prices showed a slight decline as compared with the price levels recorded in the previous financial year.

- Lee Shau Kee

The number of residential units which have been booked in the financial statements of the Group in the period under review totalled 5,800 and amounted to approximately HK$14 billion in aggregate value.

- Lee Shau Kee

The number of units that were sold by the Group including those for which the Group acted as sales agent summed up to 2,960 residential units, amounting to approximately HK$9.2 billion in total sales proceeds.

- Lee Shau Kee

The onset of global financial turmoil in the second half of 2008 and the resultant wait-and-see attitude adopted by some homebuyers put the property market into the doldrums, with a general decline in both transaction volume and transacted prices.

- Lee Shau Kee

The Overseas Chinese habit is to save a lot and make a lot of friends.

- Lee Shau Kee

The prevailing low mortgage rate, reasonable affordability and the low completion volumes for private-residential units in the coming few years should lend support to the local residential property market.

- Lee Shau Kee

The profile of homebuyers in Hong Kong is becoming more diverse and a wider range of marketing channels is thus needed to promote the Group’s Hong Kong property projects.

- Lee Shau Kee

The proposed abolishment of estate duty by the Hong Kong Government will contribute to establish Hong Kong as a regional financial centre as well as an asset management hub.

- Lee Shau Kee

The real estate market in mainland China, however, experienced a dramatic change during the past year. In the second half of 2007, transacted prices in many cities had been repeatedly bid up to all time highs as a result of fierce competition at land auctions. The subsequent upsurge in housing prices, which were beyond the affordability of the general public, resulted in an overheated property market.

- Lee Shau Kee

The recovering economic environment will lead to an increase in local demand for home purchases and the purchasing power which has accumulated in the past two years due to uncertainty surrounding the local economy will result in increased demand for residential properties, particularly for residential units of small to medium size which match well with your [Henderson] Group’s property development focus.

- Lee Shau Kee

The residential leasing market remained robust with expatriates from the banking and financial sectors continuing to be the major source of tenant demand for luxury properties on Hong Kong Island.

- Lee Shau Kee

The success of the Overseas Chinese is the result of bad times in China itself. The Chinese who left the mother country had to struggle, and that became a culture of its own, passed on from father to son through each generation. Because we have no social security, the Overseas Chinese habit is to save a lot and make a lot of friends.

- Lee Shau Kee

Quality is a cornerstone of the [Henderson] Group underpinning all our activities.

- Lee Shau Kee

Residential properties that were sold by the Group summed up to around 5,800 units and amounted to approximately HK$12.8 billion.

- Lee Shau Kee

Residential property prices will pick up steadily.

- Lee Shau Kee

Save your first bucket of gold… then use it for investments.

- Lee Shau Kee

Sometimes, your friend can influence you more than your mother.

- Lee Shau Kee

Substantial growth in GDP, rising wages, improved employment prospects and favourable bank mortgage terms have all resulted in a buoyant property market.

- Lee Shau Kee

The [Henderson] Group adopted a conservative approach in replenishing its land bank and focused its resources to convert agricultural land holdings in hand into development land in the past year with a view to bringing down the cost of land replenishment and good progress has been made in this respect.

- Lee Shau Kee

The [Henderson] Group continuously strives to upgrade the quality of its development properties by applying new technologies and building materials to improve the efficiency and lower the cost of construction.

- Lee Shau Kee

The [Henderson] Group possesses substantial recurrent income.

- Lee Shau Kee

The austerity policies for the mainland property market will remain intact in 2011.

- Lee Shau Kee

The average occupancy rate of the core investment properties of the group was maintained at a high level of 96%.

- Lee Shau Kee

The Chinese who left the mother country had to struggle, and that became a culture of its own, passed on… through each generation. Because we have no social security, the overseas Chinese habit is not to spend a lot and to make a lot of friends.

- Lee Shau Kee

The construction arm of the Group always firmly adheres to the principle of ‘People is our priority’ and deploys a vast amount of resources to quality facilities and training of staff to ensure a safe and good working environment.

- Lee Shau Kee

The earnings from Hong Kong and China Gas and rental property portfolio serve as a solid base for the Group’s sustainable growth.

- Lee Shau Kee

The economy in Hong Kong remained on a declining path. Occurrence of the Severe Acute Respiratory Syndrome (‘SARS’) in March this year led to a sharp drop in consumer spending and an increasing unemployment rate. The decline in the economy resulted in downward adjustment in the property market.

- Lee Shau Kee