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Intelligence Report
香港香業銀行
THE COMMERCIAL BANK
OF HO
LTD.
&
The Co
Bank of
Hong Kong Building, 120 Des Voeux Road Central, Hong Kong.
Tel.: 5-419222 Fax.: 5-410009
4th Floor, Wah Tao Building, 42 Wood Road, Hongkong. Tel: 5-730379
VOLUME XV No. 24
Company Analysis
WEDNESDAY
THE WING ON (HOLDINGS) LTD
Fax: 5-8381597
June 22, 1988
ON THE LONG ROAD BACK
Though the Net Profit of The Wing On (Holdings) Ltd for the last Financial Year dropped about 42 percent, from the 1986 figure of $HK88.12 million to the 1987 figure of $HK51.41 million, it appears that this publicly-listed company is turning the corner after running into grave difficulties in the 1985
Year.
No doubt, Dr Philip Kwok, former Chairman of The Wing On (Holdings) Ltd, who resigned amid TARGET's series of exposes on the company in 1986 and 1987, will be surprised to learn that the company which he once controlled, along with his late brother, Mr Albert Kwok Chi Hong, is now taking off -- and it appears to be one of the better buys today.
According to the latest Annual Report of the Group for the Year ended December 31, 1987, the Net Profit of the Group has dropped from the 1986 figure
of $HK88.12 million to $HK51.41 million.
The $HK37-million drop in Net Profit was brought about by the lack of contribution from the sales of lands, buildings and investments.
In the 1986 Year, a contribution from this division amounted to $HK103.75
million.
The Operating Profit for 1987 shows that the Group is really powering away now
since there was a 132.28-percent increase over the 1986 Year, from $HK47.81 million
**Sheraton
代理 Sheraton Agency
喜來登
International Real Estate Agent, Consultants And Valuers
The Wing On (Holdings) Ltd:
Lustre-less in recent years, but
time to regain its shine?
PROFESSIONAL SERVICE IN PUR-
CHASING, SELLING, LEASING & RENT-
ING OF REAL ESTATES.
call our
Member of International Institute
5-222151
MR SUNNY YAM
(SHOP SPECIALIST)
NOT TO BE REPRODUCED IN ANY FORM OR MANNER IN PART OR AS A WHOLE WITHOUT PRIOR WRITTEN LICENCE OF THE PUBLISHER
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