Losses, Impairments at Swire's Aviation and Marine Services Divisions, but Minimal Valuation Impact
Swire Pacific issued a profit warning on 10 November. The warning was due to Cathay Pacific’s worsening performance, higher losses and asset impairment at Hong Kong Aircraft Engineering Co. Americas, and asset impairment and disposal loss at Swire Pacific Offshore. As we had previously accounted for Cathay Pacific’s weak performance, and losses at HAECO and SPO do not materially affect our valuation, we make no changes to our no-moat rating or our HKD 80 fair value estimate.HAECO announced it e...
Swire Pacific is a holding company. Co. operates in five divisions: property, which is engaged in developing, owning and operating mixed-use, principally commercial properties in Hong Kong and Mainland China; aviation, which comprises investments in the Cathay Pacific group and the Hong Kong Aircraft Engineering Company group; beverages, which manufactures, markets and distributes refreshing soft drinks; marine services, which invest in vessels and equipment and develop its services with a view to providing offshore support to the global oil and gas industry; and Trading & Industrial, which markets and sells internationally branded goods to consumers.
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.