Hutchison Port Holdings Trust

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From the latest results,staff cost is only about 6% of the cost of service rendered, and a mere 3% to revenue. Net Margin is 28%. Yantian is the black sheep that didn't deliver or the management is overly bullish at the first place.

I bought when the price took a beating sometime last year, mainly for the following reasons:

1) Quality of assets
2) LKS brand name
3) Profits resilence during the GFC period, TEU fall in the low single digit
4) POtential for growth from Yantian development

Pearl delta economic zone is still the manufacturing hub of china, although the other provinces are catching up, while Yantian cannot be compared with Shanghai/shenzhen, I believe PRC will not let the pearl delta economic zone goes to the dogs, and YICT will be a beneficiary of any economic stimilus in the area.

The projected Capex for 2012 is 1.1 billion, and 1.7 billion HKD for 2011, assuming capex of 1.5 billion and OCF remain constant, and they payout 100% of FCF, the payout for 2013 will be reduced to 32HK cents. A rather drastic drop but still a 6% yield for me. Any better performance is a bonus for me.

I believe after this difficult time (when trading with EU and US normalised), the performance will improve.
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Messages In This Thread
Hutchison Port Holdings Trust - by Nick - 18-01-2011, 09:10 AM
RE: HUTCHISON PORT HOLDINGS TRUST - by mrEngineer - 18-01-2011, 09:50 AM
RE: Hutchison Port Holdings Trust - by Musicwhiz - 18-01-2011, 09:53 AM
RE: Hutchison Port Holdings Trust - by freedom - 18-01-2011, 09:57 AM
RE: Hutchison Port Holdings Trust - by mikh - 18-01-2011, 11:20 AM
RE: Hutchison Port Holdings Trust - by Nick - 18-01-2011, 12:05 PM
RE: Hutchison Port Holdings Trust - by yeokiwi - 18-01-2011, 12:42 PM
RE: Hutchison Port Holdings Trust - by Nick - 18-01-2011, 12:47 PM
RE: Hutchison Port Holdings Trust - by thefarside - 18-01-2011, 01:35 PM
RE: Hutchison Port Holdings Trust - by Nick - 18-01-2011, 01:42 PM
RE: Hutchison Port Holdings Trust - by freedom - 18-01-2011, 02:52 PM
RE: Hutchison Port Holdings Trust - by mrEngineer - 19-01-2011, 02:06 AM
RE: Hutchison Port Holdings Trust - by freedom - 19-01-2011, 08:25 AM
RE: Hutchison Port Holdings Trust - by axt - 19-01-2011, 09:54 AM
RE: Hutchison Port Holdings Trust - by Musicwhiz - 19-01-2011, 08:07 AM
RE: Hutchison Port Holdings Trust - by thefarside - 19-01-2011, 01:27 PM
RE: Hutchison Port Holdings Trust - by Contrarian - 19-01-2011, 04:13 PM
RE: Hutchison Port Holdings Trust - by mikh - 20-01-2011, 10:27 AM
RE: Hutchison Port Holdings Trust - by Musicwhiz - 20-01-2011, 08:04 AM
RE: Hutchison Port Holdings Trust - by Nick - 20-01-2011, 08:49 AM
RE: Hutchison Port Holdings Trust - by wj888 - 20-01-2011, 07:03 PM
RE: Hutchison Port Holdings Trust - by mrEngineer - 20-01-2011, 08:56 PM
RE: Hutchison Port Holdings Trust - by yeokiwi - 20-01-2011, 09:28 PM
RE: Hutchison Port Holdings Trust - by freedom - 20-01-2011, 09:01 PM
RE: Hutchison Port Holdings Trust - by mrEngineer - 20-01-2011, 09:48 PM
RE: Hutchison Port Holdings Trust - by yeokiwi - 20-01-2011, 10:06 PM
RE: Hutchison Port Holdings Trust - by mrEngineer - 20-01-2011, 10:20 PM
RE: Hutchison Port Holdings Trust - by lonewolf - 21-01-2011, 07:10 AM
RE: Hutchison Port Holdings Trust - by freedom - 21-01-2011, 07:58 AM
RE: Hutchison Port Holdings Trust - by edragon - 21-01-2011, 11:06 AM
RE: Hutchison Port Holdings Trust - by mrEngineer - 23-01-2011, 08:48 PM
RE: Hutchison Port Holdings Trust - by wj888 - 23-01-2011, 02:29 PM
RE: Hutchison Port Holdings Trust - by Nick - 23-01-2011, 02:41 PM
RE: Hutchison Port Holdings Trust - by Contrarian - 23-01-2011, 11:24 PM
RE: Hutchison Port Holdings Trust - by Nick - 23-01-2011, 03:40 PM
RE: Hutchison Port Holdings Trust - by Nick - 24-01-2011, 12:06 AM
RE: Hutchison Port Holdings Trust - by lonewolf - 24-01-2011, 05:24 PM
RE: Hutchison Port Holdings Trust - by mrEngineer - 24-01-2011, 05:59 PM
RE: Hutchison Port Holdings Trust - by Nick - 24-01-2011, 06:08 PM
RE: Hutchison Port Holdings Trust - by monloi - 28-01-2011, 11:37 PM
RE: Hutchison Port Holdings Trust - by Nick - 28-01-2011, 11:54 PM
RE: Hutchison Port Holdings Trust - by Nick - 16-02-2011, 09:30 AM
RE: Hutchison Port Holdings Trust - by freedom - 28-02-2011, 10:23 PM
RE: Hutchison Port Holdings Trust - by Musicwhiz - 01-03-2011, 06:03 AM
RE: Hutchison Port Holdings Trust - by freedom - 01-03-2011, 07:49 AM
RE: Hutchison Port Holdings Trust - by Nick - 06-03-2011, 02:04 PM
RE: Hutchison Port Holdings Trust - by D123 - 10-03-2011, 02:35 PM
RE: Hutchison Port Holdings Trust - by Blackjack - 10-03-2011, 05:53 PM
RE: Hutchison Port Holdings Trust - by Musicwhiz - 11-03-2011, 09:55 AM
RE: Hutchison Port Holdings Trust - by belgarathc - 11-03-2011, 07:05 PM
RE: Hutchison Port Holdings Trust - by Nick - 13-03-2011, 08:59 PM
RE: Hutchison Port Holdings Trust - by freedom - 13-03-2011, 10:03 PM
RE: Hutchison Port Holdings Trust - by Musicwhiz - 15-03-2011, 08:57 AM
RE: Hutchison Port Holdings Trust - by Nick - 15-03-2011, 08:59 PM
RE: Hutchison Port Holdings Trust - by Musicwhiz - 18-03-2011, 08:33 AM
RE: Hutchison Port Holdings Trust - by lonewolf - 18-03-2011, 09:25 AM
RE: Hutchison Port Holdings Trust - by mikh - 18-03-2011, 10:02 AM
RE: Hutchison Port Holdings Trust - by Nick - 18-03-2011, 11:02 AM
RE: Hutchison Port Holdings Trust - by D123 - 18-03-2011, 12:28 PM
RE: Hutchison Port Holdings Trust - by Nick - 18-03-2011, 05:11 PM
RE: Hutchison Port Holdings Trust - by tonylim - 19-03-2011, 11:01 AM
RE: Hutchison Port Holdings Trust - by Nick - 19-03-2011, 09:10 PM
RE: Hutchison Port Holdings Trust - by Musicwhiz - 31-03-2011, 07:13 AM
RE: Hutchison Port Holdings Trust - by Nick - 04-04-2011, 12:58 PM
RE: Hutchison Port Holdings Trust - by nutty - 08-04-2011, 09:41 PM
RE: Hutchison Port Holdings Trust - by Vseeker - 09-04-2011, 01:39 PM
RE: Hutchison Port Holdings Trust - by Musicwhiz - 14-04-2011, 05:28 AM
RE: Hutchison Port Holdings Trust - by nutty - 25-04-2011, 01:44 PM
RE: Hutchison Port Holdings Trust - by Nick - 26-04-2011, 11:17 PM
RE: Hutchison Port Holdings Trust - by Musicwhiz - 27-04-2011, 07:01 AM
RE: Hutchison Port Holdings Trust - by piggo - 27-04-2011, 12:27 AM
RE: Hutchison Port Holdings Trust - by Drizzt - 27-04-2011, 06:03 AM
RE: Hutchison Port Holdings Trust - by corydorus - 27-04-2011, 01:33 PM
RE: Hutchison Port Holdings Trust - by RBM - 10-06-2011, 03:49 PM
RE: Hutchison Port Holdings Trust - by Musicwhiz - 10-06-2011, 04:05 PM
RE: Hutchison Port Holdings Trust - by Musicwhiz - 11-06-2011, 09:58 PM
RE: Hutchison Port Holdings Trust - by freedom - 10-06-2011, 03:53 PM
RE: Hutchison Port Holdings Trust - by corydorus - 10-06-2011, 04:35 PM
RE: Hutchison Port Holdings Trust - by Drizzt - 12-06-2011, 04:03 AM
RE: Hutchison Port Holdings Trust - by Nick - 12-06-2011, 02:23 PM
RE: Hutchison Port Holdings Trust - by D123 - 12-06-2011, 02:53 PM
RE: Hutchison Port Holdings Trust - by freedom - 12-06-2011, 02:55 PM
RE: Hutchison Port Holdings Trust - by Nick - 12-06-2011, 05:02 PM
RE: Hutchison Port Holdings Trust - by Drizzt - 12-06-2011, 08:17 PM
RE: Hutchison Port Holdings Trust - by Musicwhiz - 13-06-2011, 02:52 PM
RE: Hutchison Port Holdings Trust - by Drizzt - 13-06-2011, 07:49 PM
RE: Hutchison Port Holdings Trust - by RBM - 14-06-2011, 01:46 AM
RE: Hutchison Port Holdings Trust - by D123 - 03-08-2011, 06:03 PM
RE: Hutchison Port Holdings Trust - by d.o.g. - 03-08-2011, 08:11 PM
RE: Hutchison Port Holdings Trust - by D123 - 04-08-2011, 09:55 AM
RE: Hutchison Port Holdings Trust - by yfreebee - 16-08-2011, 09:38 PM
RE: Hutchison Port Holdings Trust - by Nick - 20-08-2011, 01:59 PM
RE: Hutchison Port Holdings Trust - by yfreebee - 27-08-2011, 12:42 AM
RE: Hutchison Port Holdings Trust - by Nick - 27-08-2011, 03:16 PM
RE: Hutchison Port Holdings Trust - by Nick - 30-11-2011, 06:40 PM
RE: Hutchison Port Holdings Trust - by Nick - 22-03-2012, 03:27 PM
RE: Hutchison Port Holdings Trust - by Nick - 06-10-2012, 10:50 AM
RE: Hutchison Port Holdings Trust - by Nick - 18-10-2012, 12:50 PM
RE: Hutchison Port Holdings Trust - by Nick - 07-10-2012, 05:51 PM
RE: Hutchison Port Holdings Trust - by Nick - 08-03-2013, 09:02 PM
RE: Hutchison Port Holdings Trust - by Drizzt - 09-03-2013, 08:04 AM
RE: Hutchison Port Holdings Trust - by Drizzt - 09-03-2013, 08:27 PM
RE: Hutchison Port Holdings Trust - by Greenrookie - 09-03-2013, 11:41 PM
RE: Hutchison Port Holdings Trust - by Nick - 26-03-2013, 12:21 AM
RE: Hutchison Port Holdings Trust - by a74henry - 26-03-2013, 03:17 PM
RE: Hutchison Port Holdings Trust - by Nick - 31-03-2013, 11:58 AM
RE: Hutchison Port Holdings Trust - by felixleong - 01-04-2013, 11:58 AM
RE: Hutchison Port Holdings Trust - by Musicwhiz - 01-05-2013, 08:18 AM
RE: Hutchison Port Holdings Trust - by Nick - 21-06-2013, 08:11 PM
RE: Hutchison Port Holdings Trust - by level13 - 02-08-2013, 09:20 AM
RE: Hutchison Port Holdings Trust - by felixleong - 04-09-2013, 05:02 PM
RE: Hutchison Port Holdings Trust - by AlphaQuant - 04-09-2013, 05:06 PM
RE: Hutchison Port Holdings Trust - by felixleong - 04-09-2013, 07:57 PM
RE: Hutchison Port Holdings Trust - by CityFarmer - 05-09-2013, 03:28 PM
RE: Hutchison Port Holdings Trust - by mkmk - 21-10-2013, 07:20 PM
RE: Hutchison Port Holdings Trust - by Nick - 14-11-2013, 11:53 AM
RE: Hutchison Port Holdings Trust - by Nick - 18-11-2013, 01:59 AM
RE: Hutchison Port Holdings Trust - by Drizzt - 18-11-2013, 07:31 AM
RE: Hutchison Port Holdings Trust - by Drizzt - 18-11-2013, 07:37 AM
RE: Hutchison Port Holdings Trust - by Nick - 18-11-2013, 12:16 PM
RE: Hutchison Port Holdings Trust - by Nick - 19-11-2013, 10:36 AM
RE: Hutchison Port Holdings Trust - by GPD - 26-11-2013, 03:23 PM
RE: Hutchison Port Holdings Trust - by Drizzt - 29-11-2013, 07:58 AM
RE: Hutchison Port Holdings Trust - by GPD - 28-11-2013, 11:49 PM
RE: Hutchison Port Holdings Trust - by Nick - 29-11-2013, 11:48 AM
RE: Hutchison Port Holdings Trust - by CityFarmer - 04-12-2013, 10:46 AM
RE: Hutchison Port Holdings Trust - by Nick - 14-12-2013, 01:19 PM
RE: Hutchison Port Holdings Trust - by Boon - 16-12-2013, 08:48 PM
RE: Hutchison Port Holdings Trust - by Nick - 20-12-2013, 04:39 PM
RE: Hutchison Port Holdings Trust - by GPD - 12-02-2014, 10:13 AM
RE: Hutchison Port Holdings Trust - by Nick - 12-02-2014, 01:27 PM
RE: Hutchison Port Holdings Trust - by GPD - 13-02-2014, 01:36 AM
RE: Hutchison Port Holdings Trust - by GPD - 17-02-2014, 11:06 PM
RE: Hutchison Port Holdings Trust - by CityFarmer - 13-03-2014, 09:04 PM
RE: Hutchison Port Holdings Trust - by Nick - 13-03-2014, 09:30 PM
RE: Hutchison Port Holdings Trust - by shanrui_91 - 13-03-2014, 09:56 PM
RE: Hutchison Port Holdings Trust - by GPD - 13-03-2014, 10:31 PM
RE: Hutchison Port Holdings Trust - by sykn - 14-03-2014, 09:59 AM
RE: Hutchison Port Holdings Trust - by sykn - 29-04-2014, 09:04 AM
RE: Hutchison Port Holdings Trust - by sykn - 19-06-2014, 02:42 PM
RE: Hutchison Port Holdings Trust - by Henri - 30-07-2014, 08:22 AM
RE: Hutchison Port Holdings Trust - by corydorus - 30-07-2014, 08:47 AM
RE: Hutchison Port Holdings Trust - by sykn - 30-07-2014, 09:40 AM
RE: Hutchison Port Holdings Trust - by Henri - 30-07-2014, 11:25 AM
RE: Hutchison Port Holdings Trust - by sykn - 30-07-2014, 11:48 AM
RE: Hutchison Port Holdings Trust - by ho2786 - 09-08-2014, 07:04 PM
RE: Hutchison Port Holdings Trust - by ho2786 - 10-08-2014, 10:04 AM
RE: Hutchison Port Holdings Trust - by Shrivathsa - 15-08-2014, 11:09 AM
RE: Hutchison Port Holdings Trust - by CityFarmer - 26-11-2014, 10:00 AM
RE: Hutchison Port Holdings Trust - by sykn - 26-11-2014, 10:10 AM
RE: Hutchison Port Holdings Trust - by karlmarx - 19-07-2017, 09:46 PM
RE: Hutchison Port Holdings Trust - by laksaman57 - 19-07-2017, 10:42 PM
RE: Hutchison Port Holdings Trust - by corydorus - 20-07-2017, 04:48 AM
RE: Hutchison Port Holdings Trust - by laksaman57 - 19-07-2017, 10:43 PM
RE: Hutchison Port Holdings Trust - by sykn - 02-02-2018, 02:55 PM
RE: Hutchison Port Holdings Trust - by choonlim - 20-08-2018, 09:50 PM
RE: Hutchison Port Holdings Trust - by Retired@52 - 21-08-2018, 02:46 PM
RE: Hutchison Port Holdings Trust - by Ray168 - 02-02-2018, 04:16 PM
RE: Hutchison Port Holdings Trust - by sykn - 03-02-2018, 06:59 PM
RE: Hutchison Port Holdings Trust - by karlmarx - 03-02-2018, 07:18 PM
RE: Hutchison Port Holdings Trust - by cfa - 03-02-2018, 07:26 PM
RE: Hutchison Port Holdings Trust - by corydorus - 03-02-2018, 08:29 PM
RE: Hutchison Port Holdings Trust - by sykn - 03-02-2018, 08:18 PM
RE: Hutchison Port Holdings Trust - by karlmarx - 28-03-2018, 06:03 PM
RE: Hutchison Port Holdings Trust - by cfa - 28-03-2018, 06:08 PM
RE: Hutchison Port Holdings Trust - by karlmarx - 28-03-2018, 06:28 PM
RE: Hutchison Port Holdings Trust - by Ray168 - 29-03-2018, 01:48 PM
RE: Hutchison Port Holdings Trust - by karlmarx - 29-03-2018, 06:45 PM
RE: Hutchison Port Holdings Trust - by cyclone - 29-03-2018, 07:10 PM
RE: Hutchison Port Holdings Trust - by karlmarx - 29-03-2018, 10:07 PM
RE: Hutchison Port Holdings Trust - by BlackCat - 18-08-2018, 11:39 AM
RE: Hutchison Port Holdings Trust - by karlmarx - 18-08-2018, 09:28 PM
RE: Hutchison Port Holdings Trust - by tonylim - 18-08-2018, 11:17 PM
RE: Hutchison Port Holdings Trust - by karlmarx - 19-08-2018, 09:23 PM
RE: Hutchison Port Holdings Trust - by Ray168 - 20-08-2018, 11:48 AM
RE: Hutchison Port Holdings Trust - by Retired@52 - 20-08-2018, 12:32 PM
RE: Hutchison Port Holdings Trust - by money - 22-08-2018, 08:58 AM
RE: Hutchison Port Holdings Trust - by weijian - 22-08-2018, 09:46 AM
RE: Hutchison Port Holdings Trust - by cfa - 22-08-2018, 10:34 AM
RE: Hutchison Port Holdings Trust - by weijian - 22-08-2018, 03:36 PM
RE: Hutchison Port Holdings Trust - by cfa - 05-07-2019, 10:05 AM
RE: Hutchison Port Holdings Trust - by karlmarx - 25-07-2019, 08:08 AM
RE: Hutchison Port Holdings Trust - by pencilin - 21-08-2019, 11:20 AM
Hutchison Port Holdings Trust - by nutty - 28-02-2011, 04:26 PM
RE: Hutchison Port Holdings Trust - by LionFlyer - 28-02-2011, 10:06 PM

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