HK property companies are cheap as their property assets are valued at current (inflated) market prices. Factor in the probability of a correction and they're not as cheap as they appear.
I am just starting to look at Henderson Land, this HK company is ridiculous cheap. P/BV = 0.5x. Book value has grown around 10-20% EVERY year for the last decade..... does anyone own this baby?
I am still in the process of due diligence which involves just glossing over their 10K (or the ADR equivalent)