S&P: Hong Kong property sector on road to recovery.

(From The Asian Banker Journal)

Standard & Poor's Ratings Services said today that the outlook for the Hong Kong property sector is likely to continue to improve as the local economy enters an upward cycle. "Over the past 12 months, the agency has changed its outlook on most of its Hong Kong property-related companies to stable from negative," said credit analyst John Bailey, director at Standard & Poor's. The report, entitled "Hong Kong Property Review: Road to Recovery", makes the following key points: -- Property developers have regained their pricing power and are expected to deliver meaningful operating margins and increased profitability in 2004-2005. The end …