Link Rl Est Invt Tr Uts (LKREF) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good afternoon, ladies and gentlemen. Welcome to our Linked Read 2025-2026 Infra-Results Presentations. Now on the stage, we have our Chair, Mr. Duncan Owen, and our Group CEO, George Hong Choi, our CFO, Ko Sung Un, and our Group CIO, John Shaunders. So on the screen, you can see our agenda today. And without further ado, let me hand the floor over to Duncan. Thank you. Thank you. Thank you. Good afternoon, ladies and gentlemen, and welcome to the 2025-2026 interim results presentation for Link Read. As today's meeting has been webcast live, I also extend a warm welcome to those joining us online. It's my pleasure to open proceedings and I will provide a few brief remarks now. With regards to the interim results period, despite a range of macroeconomic and market challenges, Link has continued to deliver resilient results during the first half of this year. We saw a modest decline of 3.4% in net property income compared with the same period last year. This is mainly due to market challenges in Hong Kong and the Chinese mainland. Our distributable amounts and distribution per unit are down 5.6% and 5.9% respectively compared with the first half of last year. Before inviting our management team to run through the details, I want to start with an overview of how global trends are shaping our business and the execution of our strategy. While capital markets continue to rally on the back of optimism about AI and interest rates look to be trending downwards, the global business landscape remains as complex as ever. Wars, geopolitical tensions and shifting trade dynamics continue to create uncertainty. The recent shifts in US policy are leading to fundamental structural changes in how investors view the world, which will continue to take shape over the months and years ahea...