CK Infrastructure's Outlook Raised on Reduced Currency Headwinds; FVE up to HKD 76 on Cash Boost
We've raised CK Infrastructure's fair value estimate to HKD 76 from HKD 69, given the cash boost of HKD 10.4 billion that the company should receive from 39%-owned associate Power Asset Holdings' special dividends. This raises CKI's cash per share by HKD 3.91. The remaining lift to our fair value estimate comes from reduced currency headwinds and the time value of money as we roll over our valuation. Otherwise, there is little change to our view on CKI following the release of its interim result...CK Infrastructure Holdings and its subsidiaries are engaged in the development, investment and operation of infrastructure businesses in Hong Kong, Mainland China, the U.K., the Netherlands, Australia, New Zealand and Canada. Through its subsidiaries, Co. is engaged in investment holding; production and laying of asphalt; manufacturing, sale and distribution of cement and property investment; financing; treasury; and waste management servicce. Through its principal associates, Co. is engaged in investment in power and utility-related businesses, and electricity distribution.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.