823頻道
ISSUE 26
November 2017 Edition 2017年11月號
 

邁向長期創值投資
專訪獨立非執行董事裴布雷
Towards a Long-Term Value Play
An Interview with
Independent Non-Executive Director
Blair Pickerell

領展資產組合日益多元化,並致力推動可持續發展。曾任主要國際投資管理公司要職的領展獨立非執行董事裴布雷(Blair Pickerell),以其於環球投資和社區服務的豐富經驗,協助引領公司邁進下一個高增長階段。

Blair分享自去年初加入董事會以來對公司的印象並表示:「領展於香港社區發揮著重要角色,這正是我加盟的主要原因。旗下商場不單是購物中心,亦是凝聚社區的平台,顧客來到這裏購買日常所需,取得醫療保健、教育和其他服務,透過用心營運商場、優化商戶組合、提升服務等,領展實際上於所營運的社區中作出多方面的貢獻。」

Blair 為香港公益金前董事,亦為現任名譽副會長,他指出,公眾期望企業向包括社區的所有持分者負責,而不是單單聚焦於股東。「從領展積極支持慈善項目,並且於社區舉辦各式社區及推廣活動,可見公司對社區的重視。」

對於管理團隊的表現,Blair表示:「作為獨立非執董,我很高興看見領展管理團隊於廣泛職能上擁有深厚經驗,並展現高度專業精神。」

他又表示,領展被公認為全球規模最大、管理最為優秀的房託之一,能夠取得今天在市場的領導地位,全賴多年來致力強化管理團隊,進軍新市場作多元化發展,並優化投資組合。

「期望領展繼續把握機遇,發揮優勢。我相信,有一天領展成為香港人的『愛股』—獲香港廣大市民認同,成為散戶經常會考慮購入及長線持有的基金單位,而領展亦能與市民分享本地經濟增長及業績優異的成果。」


房託作為投資工具 於亞洲增長潛力龐大

房託提供穩定收益,備受投資界青睞。Blair作為專業投資管理人,深信隨著大眾加深認識證券化房地產的價值,房託行業將繼續穩步拓展。

「房地產多年來被視為極具吸引力的投資工具,但相信不少業主亦逐漸體驗到,要維持物業的狀況及找到好租戶並不容易。愈來愈多投資者會傾向考慮靈活性更大的房地產基金,因為選擇將資金投入於持有物業組合的房地產基金,不論在投資及管理風險方面都更具效益。購入房地產基金,可以享受地域及行業多元化、專業管理,以及捕捉不同時機買賣物業等多種經濟效益。我認為這做法將逐步為市場受落。」


Having served in key leadership roles with major international investment houses, Blair Pickerell, an Independent Non-Executive Director (INED) of Link, has both global investment and community service experience. This combination makes him a natural fit to help drive Link’s next high-growth phase, which is characterised by an increasingly diversified asset portfolio and a steadfast commitment to sustainability.

“I joined Link because the company plays a very important role in Hong Kong. Its malls are more than just malls – they’re community hubs where customers not only do their daily shopping, but also receive health care, education and other services. By operating the malls well and offering an optimal trade mix and enhanced services, Link contributes in various ways to the communities where it operates,” said Blair, sharing his impression of Link since joining its Board early last year.

An ex-director and a Vice Patron of The Community Chest of Hong Kong, Blair said that more than ever, companies are expected to have responsibilities to all stakeholders, including the community, not just to shareholders. “As demonstrated in its charitable initiatives and the wide range of entertaining activities it offers the community, Link’s performance in this area has been phenomenal.”

Of Link’s management team, Blair said, “As an INED, I am very pleased to see that Link has a very deep management team across a wide range of functions, displaying a high standard of professionalism.”

He said that Link is already recognised as one of the largest and best-run REITs in the world, and that in achieving its leadership position, it has over the years strengthened its management team, diversified into new markets and refreshed its portfolio.

“Hopefully, Link will continue to build on its strengths to further enhance its growth momentum. I would like to believe that one day Link will become the favourite share among the people of Hong Kong, the kind of company in which the local individual investors would like to buy and hold shares for the long term. Link can also enable the investing public to share in its strong business performance and local economic growth.

REIT has huge potential for growth in
Asia as an investment tool

For their stable income-generating ability, REITs show good promise as an investment tool. Based on his experience as a professional investment manager, Blair believes that the REIT sector will continue to grow steadily across the world as people realise the value of securitised real estate.

“While real estate is seen as an attractive valuable investment, property owners have learnt that over time, maintaining a physical property and securing good tenants is not easy. Increasingly, investors will consider investing in real estate funds, which are more flexible, because doing so offers higher efficiency in investment and risk management by taking advantage of diversification across countries and sectors, professional management, as well as different timing on selling and buying properties. I think this idea is only beginning to catch on.”
透徹認識亞洲商業環境
A deep understanding of the
Asian business scene



生於美國的Blair 於亞洲建立了他的輝煌事業。他早於七十年代末期已跑到台灣學習中文,當時中國尚未開始改革,可見他有先見之明。能說一口流利普通話的他,經常在國內主持講座。深入掌握一個地方的語言,令他透徹地了解當地文化,為他贏取了開拓亞洲市場的先機。

Born in the US, Blair has built a stellar career in Asia. In a stroke of foresight, he went to Taiwan to study Chinese in the late 70’s, before China had started its reform. Now a fluent Chinese speaker, he regularly delivers speeches in Putonghua to Chinese audiences. His mastery of the language has equipped him with an ingrained understanding of the local culture, giving him an early start in tapping the Asian market.