[Wheelock Privatization] Vice Chairman Liang Zhijian: Hong Kong's economy is recovering and property prices will rebound next year

Financial News

Written by: Lin Leqian

2020-06-16 12:14

Wheelock Real Estate (0020) today (16th) held a privatization vote at the shareholders' meeting. After the meeting, Chairman Wu Zongquan and Vice Chairman Wu Tianhai directly left the scene and did not accept media questions. Vice Chairman Liang Zhijian said that he failed to disclose the details of privatization, and also mentioned that if Hong Kong itself may not be able to deal with the turmoil, it must be dealt with by the National Security Law.

If the turmoil is not dealt with by Hong Kong, it must have national security

When asked about the impact of the National Security Law on the property market, Liang Zhijian stated that he was a "layman" (outsider) and was not familiar with this matter, but every country would have a National Security Law, including the United States, the United Kingdom and other countries, but Hong Kong is due to China. Part of China, "China believes that what needs to be done will of course affect Hong Kong. There have been many unnecessary disturbances in Hong Kong in the past. If this aspect is not dealt with by Hong Kong itself, there must be a national security law. ".

As for whether the National Security Law will impact property prices, Liang Zhijian said that there have been different opinions from the market, or some more aggressive and violent behaviors. After this year, and now coupled with the epidemic, Hong Kong’s economy and people’s livelihood have been seriously affected, but this The problem is not unique to Hong Kong, it is happening all over the world, but Hong Kong has followed up very well in relevant areas.

The company has more than ten development projects on hand

Regarding whether the company will lay off staff after completing the privatization, Liang Zhijian stated that he could not disclose it, only pointing out that the company has more than ten projects in development. As for the formal privatization, Liang Zhijian frankly did not know that the future land investment will be in the name of Wheelock or Wharf (0004), depending on how the company's management thinks it is implemented.

Regarding the Hong Kong economic cycle, he believes that the company will scrutinize the environment, but he is quite confident in the prospects. Although the epidemic has not recovered, Hong Kong is already in the process of recovery. He also pointed out that during this period, the Group’s projects are subject to pre-sales. The paper will be sold.

Liang Zhijian said that he has been with Wheelock for 9 years. (Photo by Liang Tengwei)

Property prices are expected to grow steadily

When asked about the forecast of property prices this year, he believed that it was difficult to accurately predict property prices, but he believed that property prices have continued to stabilize in recent years. Although there have been 5% to 7% declines this year, I believe that they will stabilize and will gradually grow healthily in the short term. There is a considerable demand for building replacement, and it is expected to increase by several percentage points by early next year.

Regarding Hong Kong people's immigration, he said: "He thinks that he needs to move, so I move." He refers to people who have experienced many incidents in Hong Kong in the past, and those who have opinions about Hong Kong "remove and return (Hong Kong)" He believes that Hong Kong has its own unique place. The people who grew up in Hong Kong and even lived in Hong Kong in recent decades have great confidence in Hong Kong. Hong Kong is still more modern than many places. "Even in democracy, Hong Kong has general democracy. In short, you don’t do anything beyond your own scope, I don’t think you need to panic.”

Lament "all should retire"

Wheelock is about to be privatized, and Vice Chairman Liang Zhijian lamented: "(Joining the company) should have been retiring for almost nine years, and Zhong Zhong has been growing tightly with the company." He also pointed out that the group is well established in the real estate industry today. Thanks to the efforts of all colleagues, I feel very comforted.

Liang Zhijian pointed out that cooperation with Wu Zongquan (pictured right) is pleasant. (Photo by Liang Tengwei)

Asked whether the current Chairman Wu Zongquan is enough to "carry the flag", Liang Zhijian responded that it is quite a pleasure to work with him at present, and that the company's major decisions are not decided by one person, but by the committee.

Wheelock's privatization of Wharf