A director at CLP Holdings Ltd sold 410,000 shares at 56.516HKD and the significance rating of the trade was 83/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clear...
The general evaluation of CLP HOLDINGS (HK), a company active in the Conventional Electricity industry, has been upgraded by the independent financial analyst theScreener with the addition of a star. Its fundamental valuation now shows 3 out of 4 possible stars while its market behaviour can be considered as defensive. theScreener believes that the additional star(s) merits the upgrade of its general evaluation to Positive. As of the analysis date February 15, 2022, the closing price was HKD 80....
Full Article at IIR has reaffirmed its Recommended rating for PIA after undertaking a review post the appointment of a new Portfolio Manager, Harding Loevner. The full report can be found on the IIR website. On 26 July 2021, Pengana International Equities Limited (PIA) announced a fully franked dividend of 1.35 cents per share for the June quarter. This represents an 8% increase on the March quarter dividend and takes the total dividends declared for FY21 of 5.1 cents per share, fully franked....
Founded in 1901, CLP Holdings is the larger of the two electric utility companies in Hong Kong. It operates a vertically integrated electricity generation, transmission, and distribution business, servicing 2.6 million customers in Kowloon and the New Territories through its wholly owned network. CLP’s key strengths include its difficult-to-replicate electricity network and its more than 100 years of experience in electricity generation, transmission, and distribution. The regulated position o...
With the ongoing changes in regulatory policies in Australia, CLP will take an estimated goodwill impairment charge of HKD 6 billion to HKD 7 billion for its EnergyAustralia operation. The impairment charge is noncash and a slight revision to our forecasts sees no impact on our fair value of HKD 82. The impairment charge was attributable to the implementation of Default Market Offer, which essentially reapplies regulation on retail electricity prices in New South Wales, Queensland, and South Aus...
With the ongoing changes in regulatory policies in Australia, CLP will take an estimated goodwill impairment charge of HKD 6 billion to HKD 7 billion for its EnergyAustralia operation. The impairment charge is noncash and a slight revision to our forecasts sees no impact on our fair value of HKD 82. The impairment charge was attributable to the implementation of Default Market Offer, which essentially reapplies regulation on retail electricity prices in New South Wales, Queensland, and South Aus...
With the ongoing changes in regulatory policies in Australia, CLP will take an estimated goodwill impairment charge of HKD 6 billion to HKD 7 billion for its EnergyAustralia operation. The impairment charge is noncash and a slight revision to our forecasts sees no impact on our fair value of HKD 82. The impairment charge was attributable to the implementation of Default Market Offer, which essentially reapplies regulation on retail electricity prices in New South Wales, Queensland, and South Aus...
With the ongoing changes in regulatory policies in Australia, CLP will take an estimated goodwill impairment charge of HKD 6 billion to HKD 7 billion for its EnergyAustralia operation. The impairment charge is noncash and a slight revision to our forecasts sees no impact on our fair value of HKD 82. The impairment charge was attributable to the implementation of Default Market Offer, which essentially reapplies regulation on retail electricity prices in New South Wales, Queensland, and South Aus...
CLP Holding provided a mixed first quarter update with a steady Hong Kong operation offset by continued weakness in Australia. Our fair value is lowered to HKD 82 from HKD 86 and CLP remains slightly overvalued. We continue to see the narrow moat rated company as high quality, given strong cash flow generation from its Hong Kong operation. The defensive nature of its cash flow is a key attribute for investors amid rising volatility in the equity market. As such, we do not expect share price to c...
CLP Holding provided a mixed first quarter update with a steady Hong Kong operation offset by continued weakness in Australia. Our fair value is lowered to HKD 82 from HKD 86 and CLP remains slightly overvalued. We continue to see the narrow moat rated company as high quality, given strong cash flow generation from its Hong Kong operation. The defensive nature of its cash flow is a key attribute for investors amid rising volatility in the equity market. As such, we do not expect share price to c...
CLP Holding provided a mixed first quarter update with a steady Hong Kong operation offset by continued weakness in Australia. Our fair value is lowered to HKD 82 from HKD 86 and CLP remains slightly overvalued. We continue to see the narrow moat rated company as high quality, given strong cash flow generation from its Hong Kong operation. The defensive nature of its cash flow is a key attribute for investors amid rising volatility in the equity market. As such, we do not expect share price to c...
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CLP Holdings posted a strong fiscal 2018 result, led by solid results for Mainland China and Australia. Our fair value is increased slightly to HKD 86 from HKD 84 but we continue to see the utility as overvalued. CLP, along with the rest of the utilities sector, outperformed the Hang Seng Index in 2018 as uncertainty in global markets saw investors staying defensive. As trade concerns began to subside in early 2019, CLP has underperformed and we expect more optimism on trade and a decline in mar...
CLP Holdings posted a strong fiscal 2018 result, led by solid results for Mainland China and Australia. Our fair value is increased slightly to HKD 86 from HKD 84 but we continue to see the utility as overvalued. CLP, along with the rest of the utilities sector, outperformed the Hang Seng Index in 2018 as uncertainty in global markets saw investors staying defensive. As trade concerns began to subside in early 2019, CLP has underperformed and we expect more optimism on trade and a decline in mar...
CLP Holdings posted a strong fiscal 2018 result, led by solid results for Mainland China and Australia. Our fair value is increased slightly to HKD 86 from HKD 84 but we continue to see the utility as overvalued. CLP, along with the rest of the utilities sector, outperformed the Hang Seng Index in 2018 as uncertainty in global markets saw investors staying defensive. As trade concerns began to subside in early 2019, CLP has underperformed and we expect more optimism on trade and a decline in mar...
MSCI EM in early stages of bottoming Our overall global outlook remains cautious and continued downward pressure on global equities remains our expectation. This belief is supported in part by the absence of bottoming price action for broad global indexes (MSCI ACWI, ACWI ex-U.S., and EAFE), which are still making lower highs and lower lows. However, one bright spot is EM (more on this below), which continues to give us hope that global equities can bottom out. • Emerging Markets. We began ...
There was little in CLP Holdings' third-quarter update to change our view on the utility and its narrow economic moat rating and our fair value of HKD 84 is unchanged. Despite a decline of close to 10% in its share price from a peak of HKD 97 last month, we continue to see CLP as largely fairly valued. There is no change in the company’s strong fundamentals as the share price decline was capital markets-related, in our view. The decline was in line with the Hang Seng Utilities index as U.S. in...
There was little in CLP Holdings' third-quarter update to change our view on the utility and its narrow economic moat rating and our fair value of HKD 84 is unchanged. Despite a decline of close to 10% in its share price from a peak of HKD 97 last month, we continue to see CLP as largely fairly valued. There is no change in the company’s strong fundamentals as the share price decline was capital markets-related, in our view. The decline was in line with the Hang Seng Utilities index as U.S. in...
Narrow-moat CLP will divest a 40% stake in its India operation to Quebec pension fund CDPQ for INR 26.4 billion (HKD 2.7 billion, or around 1% of market cap). The India operation consists of two thermal power plants and renewable generation assets in solar and wind. The partial divestment was not surprising, given some of the challenges in the India market. Overcapacity in the electricity market more than offset the increase in demand, though conditions improved last year. Operationally, difficu...
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