-
No concerns over ENN Energy's CFO exit - Citi
Citi Research said it remains positive on ENN Energy Holdings (02688), believing the resignation of its CFO Chau Tien Hsiang will not
adversely affect the business.
  The research house reiterated its "buy" rating, expecting it to achieve its target of
recurrent net profit growth of 15% pa in 2017-19 driven by piped gas sales volume growth.
  It also maintained its target price of HK$56.5, noting ENN's 11.1x 2018 PER looks
appealing, with positive free cashflow and upside dividend payout ratio.
  Citi said Chau held the CFO position for only seven months. The company's key decision
making team represented by its director board remains intact.

Comments

Post a Comment

Popular posts from this blog

-
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.
Read more
-
HSBC HOLDINGS Appoints Malaysia CEO as Asia-Pacific One-Belt-One-Road Biz Manager  HSBC HOLDINGS(00005.HK)    +1.150 (+1.574%)    Short selling $311.30M; Ratio 15.773%   announced that Malaysia CEO Mukhtar Hussain was appointed to the newly created position of head of Belt and Road initiative in Asia Pacific, effective from 1 July.
Read more
-
Image
WKK INTL (HOLD) (00532.HK)    +0.100 (+15.152%)      announced the results for its subsidiary, Taiwan Kong King, for the nine months ended September 2014. The unaudited combined after-tax net profit decreased 30.26% to $12.239 million, compared with the same period last year. Revenue amounted to $177 million.
Read more