DBS: Maintains "buy" rating on KERRY PPT (00683) with target price lowered to HK$19

, Standard Chartered released a research report stating that KERRY PPT (00683) has a unique market positioning in developing high-end residential projects that are highly favored by buyers. The company also retains the commercial and hotel components in its mainland mixed-use projects as long-term investments to gradually increase its recurring income sources. The bank maintains a "buy" rating for KERRY PPT, with the target price lowered from HK$20.35 to HK$19. The bank pointed out that the strong sales of T-Plus in Hong Kong's The Peak should help the company unlock its asset value, while the upcoming launch of pre-sales for Jinling Residences in Shanghai is expected to generate interest and provide upward momentum for the stock price. Additionally, the renovation of the company's rental properties, Branksome Crest in Mid-Levels and Kerry Center in Beijing, is expected to improve their long-term competitiveness.