CKH HOLDINGS (00001.HK) announced that Chow Woo Mo Fong, Susan, who has worked for the group for 23 years, will retire from her position as group Deputy Managing Director and Executive Director of the company with effect from 1 August 2016. After her retirement, Chow will act as adviser and consultant to the company. Chow has confirmed that she has no disagreement with the Board and that she is not aware of any matters relating to her retirement that need to be brought to the attention of the shareholders of the company. ☺ ☺ ☺
CLSA lowers Beijing Ent Water (00371) to HK$6 CLSA cut its target price for Beijing Enterprises Water (BEW)(00371) by 8% to HK$6, and reiterated its "buy" rating. The research house said BEW's share price has dropped 14% in the last two trading days. First, the 2017 earnings results are below expectations. Second, management is guiding for 20-25% net profit growth for 2018, versus 30% in the past few years. Management now has a cautious approach to water PPP (public-private partnership) projects, which is not necessarily bad. CLSA cut its 2018-19 earnings forecasts by 19%. At the current level, it believes many of the negatives are already priced-in.
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