Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Singapore Stock Exchange  >  Hutchison Port Holdings Trust    NS8U   SG2D00968206

HUTCHISON PORT HOLDINGS TRUST

(NS8U)
  Report
SummaryChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsPress ReleasesOfficial PublicationsSector news

Hutchison Port Trust : Announcement Pursuant To Rule 706A Of The Listing Manual

share with twitter share with LinkedIn share with facebook
share via e-mail
02/10/2020 | 07:28am EDT

ANNOUNCEMENT PURSUANT TO RULE 706A OF THE LISTING MANUAL

Pursuant to Rule 706A of the Listing Manual of Singapore Exchange Securities Trading Limited (the "SGX-ST"), Hutchison Port Holdings Management Pte. Limited, as trustee- manager (the "Trustee-Manager") of Hutchison Port Holdings Trust ("HPH Trust"), wishes to announce the following acquisitions of shares that occurred during the financial year ended

31 December 2019:

A. ACQUISITION OF SUBSIDIARY

On 18 October 2019, HPH Trust acquired the following wholly-owned subsidiary:

Name

Principal Activity

Paid-up Capital Country of Incorporation Nominal value / Net asset value Number of share(s) Consideration

  • HPHT Finance (19) Limited
  • Treasury company
  • US$1.00
  • The Cayman Islands
  • US$1.00
  • 1 ordinary share
  • Nominal cash consideration, reflecting its newly incorporated status

An announcement on the acquisition of HPHT Finance (19) Limited was made on 19 October 2019.

B. INCREASE IN EQUITY INTEREST IN SUBSIDIARY

On 13 November 2019, HPH Trust's subsidiary, Hutchison Inland Container Depots Limited ("HICD"), issued 4,228 new shares (the "Shares") to Brilliant Voyage Limited ("BV"), a wholly- owned subsidiary of HPH Trust and the immediate shareholder of HICD, at an issue price of USD1 per share, in cash (the "Issuance"). The total consideration was USD4,228.

After the Issuance and the additional contribution of HKD67,967,021.60 made by a fellow subsidiary of BV via an inter-company loan into Hutchison Inland Container Depots (HK) Limited, being a wholly-owned subsidiary of HICD, the shareholding of HPH Trust in HICD has increased by 4.46%.

Based on the audited consolidated financial statements of HICD for the financial period ended 31 December 2017, the book value and the net tangible asset value attributable to the Shares amounted to approximately negative HKD98 million.

An announcement on the increase in equity interest in HICD was made on 13 November 2019.

C. INCREASE IN INDIRECT EQUITY INTEREST IN ASSOCIATED COMPANY

On 17 December 2019, 深圳盐田拖轮有限公司 (Shenzhen Yantian Tugboat Company Ltd.)

("Purchaser"), an associated company of HPH Trust, has entered into an equity interest transfer agreement ("Transfer Agreement") to acquire ("Acquisition") a 55% equity interest ("Target Equity Interest") in 深圳市大铲湾拖轮有限公司 (Shenzhen Dachanwan Port

Tugboat Co., Ltd) ("Target Company") from 深圳市大铲湾港口投资发展有限公司

(Shenzhen Dachan Bay Port Investment & Development Company Limited)("Vendor"), for a total cash consideration of RMB33,079,800 ("Consideration").

Prior to the Acquisition, the Purchaser holds 25% equity interest in the Target Company while the Vendor holds 55% of the equity interest in the Target Company. Under the Transfer Agreement, the Consideration shall be paid in two instalments, the first of which be paid by the Purchaser within 15 business days of the effective date of the Transfer Agreement with the balance of the Consideration be paid by the Purchaser within 10 business days after the business registration formalities reflecting the transfer of Target Equity Interest to the Purchaser.

The Consideration was arrived at after arm's length negotiations between the Purchaser and the Vendor taking into account the asset valuation performed by 深圳市中企华评资产评估有

限公司 (Shenzhen Zhongqihuaping Asset Valuation Co., Ltd), an independent valuer

appointed by the Purchaser ("Independent Valuer"). The Independent Valuer stated in its asset valuation report dated 18 June 2019 that, based on its valuation on all the asset and liabilities of the Target Company as of 31 December 2018 using the asset-based approach as the basis of valuation, the market value of the total equity in the Target Company is RMB60,145,100.

The Acquisition is completed on 27 December 2019 and HPH Trust now has an effective interest of approximately 19% in the Target Company.

An announcement on the proposed increase in indirect equity interest in the Target Company was made on 17 December 2019.

By Order of the Board

Hutchison Port Holdings Management Pte. Limited (Incorporated in the Republic of Singapore with limited liability) (as trustee-manager of Hutchison Port Holdings Trust) (Company Registration No. 201100749W)

Ms Kim Yi Hwa

Company Secretary

10 February 2020

About HPH Trust

HPH Trust is a container port business trust listed in Singapore.

HPH Trust owns interests in world class deep-water container port assets located in two of the world's busiest container port cities by throughput - Hong Kong and Shenzhen, the People's Republic of China ("PRC"). Other assets in the HPH Trust portfolio include the port in Huizhou, PRC, as well as certain port ancillary services and the economic benefits of river ports complementary to the deep-water container ports operated by HPH Trust.

The investment mandate of HPH Trust is principally to invest in, develop, operate and manage deep-water container ports in the Guangdong Province, Hong Kong and Macau, one of the world's largest trading hubs by throughput.

Disclaimer

Hutchison Port Holdings Trust published this content on 10 February 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 February 2020 12:27:03 UTC

share with twitter share with LinkedIn share with facebook
share via e-mail
Latest news on HUTCHISON PORT HOLDINGS TR
05/15ANNUAL GENERAL MEETING : : Voluntary
PU
04/08HUTCHISON PORT TRUST : Change To Half-Yearly Reporting Of Financial Statements
PU
03/18HUTCHISON PORT TRUST : Redemption On Maturity And Cancellation Of US$500,000,000..
PU
02/17HUTCHISON PORT HOLDINGS TRUST : Ex-dividend day for final dividend
FA
02/10HUTCHISON PORT TRUST : Announcement Pursuant To Rule 706A Of The Listing Manual
PU
02/10HUTCHISON PORT TRUST : Voluntary Winding Up Of Dormant Subsidiaries
PU
02/10HUTCHISON PORT TRUST : Change - Announcement Of Appointment Of Independent Non-E..
PU
01/23HUTCHISON PORT TRUST : Announcement Date For Release Of Financial Results Of Hut..
PU
2019HUTCHISON PORT TRUST : Successful Tender For Land Use Right By An Associated Com..
PU
2019HUTCHISON PORT TRUST : Proposed Increase in Indirect Equity Interest In Associat..
PU
More news
Financials
Sales 2020 10 006 M 1 291 M 1 291 M
Net income 2020 379 M 48,8 M 48,8 M
Net Debt 2020 22 172 M 2 861 M 2 861 M
P/E ratio 2020 20,9x
Yield 2020 9,43%
Capitalization 7 562 M 976 M 976 M
EV / Sales 2019
EV / Sales 2020 2,97x
Nbr of Employees 3 533
Free-Float 69,7%
Chart HUTCHISON PORT HOLDINGS TRUST
Duration : Period :
Hutchison Port Holdings Trust Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends HUTCHISON PORT HOLDINGS TR
Short TermMid-TermLong Term
TrendsBearishNeutralBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 5
Average target price 1,10 HKD
Last Close Price 0,87 HKD
Spread / Highest target 70,0%
Spread / Average Target 26,8%
Spread / Lowest Target 7,13%
EPS Revisions
Managers
NameTitle
Hing Man Lam Chief Executive Officer
Kin Ning Fok Chairman
Hin Kee Tang Operations Director
Tung Wan Lee Chief Financial Officer
Tze Leung Chan Independent Non-Executive Director
Sector and Competitors