Listed Real Estate Asia, KT Capital Group

Jacob Cheng

Jacob has 7 years of professional buy-side experience in real estate investment and listed equities.  Jacob worked as a portfolio manager/analyst in Global Listed Real Estate team in AMP Capital and Macquarie Asset Management.  Prior to that, Jacob has spent 5 years in APG asset management, in the listed real estate team.  As one of the largest RE funds in Asia, he co-managed EUR6bn investment portfolio with the team with a focus on Hong Kong and China property.  He led the USD200m cornerstone investment in Wanda Commercial Properties IPO (the largest mall operator and developer in China).  Prior to this, Jacob has 3 years of experience in investment banking in Bank of America Merrill Lynch, covering equity, debt and M&A transactions across real estate, consumer& retail and TMT sectors.  Jacob specializes in fundamental bottom up research.  Aside from work, Jacob has a personal interest in spirituality and personal development.  He practiced meditation and has published a book about meaning of life in 2016.

Listed Real Estate Asia

Deep Dive on Hong Kong Macro-Economics: The Equity Market, IPOs, Stock/Wealth Connect and the Future

Hong Kong Land HKL SP – a Long-Term Value Play on Hong Kong Office Recovery

Deep Dive on Hong Kong Macroeconomics: The Hong Kong Dollar Peg and Its Significance on Hong Kong

KT Capital Group

Principal investments and advisory firm that focuses on connecting the CIS countries with East Asia.

Principal investments and advisory firm

Equity Bottom-Up

<ul>
<li>Champion REIT is facing multiple headwinds, including weakness in its office building due to upcoming office supply</li>
<li>Its retail asset Langham is doing better post COVID, but not enough to offset the weakness in office</li>
<li>DPU may continue to decline over time. Therefore we stay bearish until we see turn-around signal</li>
</ul>


Champion REIT is facing multiple headwinds, including weakness in its office building due to upcoming office supply
Its retail asset Langham is doing better post COVID, but not enough to offset the weakness in office
DPU may continue to decline over time. Therefore we stay bearish until we see turn-around signal


Champion REIT 2778 HK: Facing Multiple Headwinds, an Uphill Battle.  Bearish