Shares & Derivatives
HPHT- Betting on Yantian to deliver
By Sillyinvestor  •  December 15, 2013
Readers would know that I have accumulate HPHT, when the price is beaten down recently. Let us look at the numbers again. Capex Capex for 2012 and 2013 thus far. ~598 mio HKD and 584 mio HKD From prospectus, “West Port Phase II has incurred approximately HK$0.2 billion in construction costs, with approximately HK$3 billion more required to complete construction., to be completed by 2015″, and “The Trustee-Manager anticipates that the total capital expenditure of HPH Trust in 2011 and 2012 will be approximately HK$1,986.9 million and HK$1,172.1 million” Given Yantian phase 3 is completed by mid-2011, we can assume development capex is for West Port Phase 2 and they are still about 1.8 billion HKD short to complete it in 2015. (Maintenance capex is in the low of 150 million only ) At such, my preliminary estimate of 1.3 billion of capex every ......
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By Sillyinvestor
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