J.P. Morgan was Awarded Hong Kong’s Best Foreign Investment Bank

The Asset Triple A Award for Hong Kong’s Best Foreign Investment Bank was awarded to J. P. Morgan for the sixth consecutive year. J. P. Morgan exhibited has consistently displayed leadership through a wide variety of products. It is a major adviser to a big portfolio of blue chip clients in the Hong Kong area. They also have an ongoing repeat business.

Through the listing by introduction of Fortune Reit in 2010, J.P. Morgan instituted Hong Kong’s first bridging dealer mechanism. This mechanism allows the Hong Kong Exchange and Clearing to use introduction to approve listings.

Thakral Sets New Strategy For Real Estate Business

Thakral Corporation will partner as a financial investor with with developers to implement its new strategy for its real estate business.
In its filing with the Singapore Exchange, the company wrote that as a capital investor, it seeks to invest in affordable mid-sized residential developments located in cities in Asia Pacific and Australia.

Thakral indicated that its new strategy will generate a second revenue stream for the company.

The firm is seeking returns of 15 to 25 per cent, with an exit strategy in 12 to 36 months.

Mr Singh said, “We will receive our returns and capital when the projects are completed and all units already pre-sold to buyers are settled.”

Thakral already owns commercial and residential property holdings in Hong Kong and China.

In addition to real estate, Thakral also distributes consumer electronic products in Singapore, India, China and Japan.

Increasing Regulations For Asian Property Market Likely

Asia’s property markets are set for a continuous slow tightening of regulations in coming months as authorities try to slow down rising home prices without causing a crash.

Last week Hong Kong announced its fifth implementation of regulations this year as it attempts to reduce property speculation. China, Taiwan, Malaysia, Thailand and Singapore have also implemented more stringent regulations in recent months.

But investors’ interest in property continues to grow and prices continue to rise. That will likely lead governments to increase mortgage requirements again, increase land supply and – in China – to initiate even more property taxes.

Tim Condon, the research manager at ING Financial Markets in Singapore said that “My baseline scenario is we will need more measures – the current set worked but their impact is transitory.”

“We’re entering into unchartered waters because just one set of the measures introduced so far this year would have worked in previous times – but what we have right now are markets filled with liquidity and historically lower interest rates,” said Donald Han, vice chairman at Cushman & Wakefield.

According to property broker Knight Frank, Hong Kong residential prices rose by 25% from mid-2009 to mid-2010 while those in Singapore increased by 37%.

Hong Kong Curbs Real Estate Investments

Hong Kong strengthened a yearlong effort to prevent increases in home prices through additional taxes and larger down payments. This came one day after the International Monetary Fund warned that asset inflation may damage Hong Kong’s economy.

Financial Secretary, John Tsang, said that homes sold within a half a year of  purchase will have to pay a 15 percent duty stamp after Nov. 20. The required down payments for houses costing HK$12 million ($1.5 million) or more will increase from 40 percent to 50 percent. A stock gauge of Hong Kong developers fell for eight days out of nine before the announcements.