HK Electric Investment's First-Half Result and Distribution In Line
Hong Kong Electric Investment's, or HKEI's, first-half distribution per unit of HKD 0.1992 was in line with our expectations, and we maintain our full year forecast of HKD 0.40 per unit for the full year. The utility continues to perform as expected, with more favourable weather conditions resulting in a 2.1% increase in electricity sales. Our fair value of HKD 5.50 is unchanged and represents a fair distribution yield of 6% in 2019. This accounts for a decline in the rate of return to 8% from 9...HK Electric Investments is an investment trust based in Hong Kong. Co. maintains an investment focus on the power industry. Co.'s operations comprise the generation, transmission, distribution and supply of electricity to Hong Kong Island and Lamma Island. Co. conducts is operations through its principal operating subsidiary, The Hongkong Electric Company (HEC). HEC's power generation facility is the Lamma Power Station which has an aggregate installed capacity of 3,737 megawatt (MW). Co. provides electricity to 575,000 registered customers on Hong Kong Island and Lamma Island.
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