China Merchants Holdings Pacific

(26-02-2016, 04:18 PM)starcraft_76 Wrote: http://infopub.sgx.com/FileOpen/FY2015-P...eID=391037

3.5cts final dividend declared.  Dividend payout for FY2015 is 96%

FCF (HKD)
2014 - 1705 mio
2015 - 1516 mio

Basic EPS (HK Cents)
2014 - 85.26
2015 - 45.43

Diluted EPS (HK Cents)
2014 - 67.31
2015 - 45.43

OCF (HKD)
2014 - 1,278 mio
2015 - 1,542 mio

(26-02-2016, 04:21 PM)starcraft_76 Wrote:

(26-02-2016, 04:18 PM)starcraft_76 Wrote: http://infopub.sgx.com/FileOpen/FY2015-P...eID=391037

3.5cts final dividend declared.  Dividend payout for FY2015 is 96%

FCF (HKD)
2014 - 1705 mio
2015 - 1516 mio

Basic EPS (HK Cents)
2014 - 85.26
2015 - 45.43

Diluted EPS (HK Cents)
2014 - 67.31
2015 - 45.43

OCF (HKD)
2014 - 1,278 mio
2015 - 1,542 mio

Thanks for overview...

The things that stand out for me in the results are....
1. Jiurui seems to be a bad investment move
2. The negative outlook that the chairman warn on how the china slowdown WILL impact on the toll revenue.
3. The decline in car volume for guihuang and guiliu

There is a blog (but a bit old) on CMH Pacific
====
China Merchants Holdings Pacific: A Lesson on Negative Dividend Yields

Link:
http://www.valuewalk.com/2015/07/china-m...nd-yields/

Actually I consider the results poor.

1) OCF need to be 1.8-2 billion to be safe from "stresses" as stated in my last post. OCF hardly increase from last quarter.

Agreed that jiurui is bad move.

But Guixing and Guiyang seem to be doing better than their "reported NP" when acquistion announcement is made.

With operating numbers providing the third stress beside currency and interest rate stress, if they dun save cash via scrip dividends scheme, I doubt they can maintain their dividends

I notice its current assets are HK$2382mil while current liabilities are HK$6064mil. Can someone enlighten me how is it going to pay off its current liabilities? More rights and loan?

(26-02-2016, 09:33 PM)Bibi Wrote: I notice its current assets are HK$2382mil while current liabilities are HK$6064mil. Can someone enlighten me how is it going to pay off its current liabilities? More rights and loan?

-> Item vii 3 part of the loan is due to the bridge loan of 350 Mil USD

-> Has entered "five-year term loan facility in an aggregate amount of US$350 million" to retire the bridge loan...
http://infopub.sgx.com/FileOpen/Term_Loa...eID=384038

(26-02-2016, 09:56 PM)marandaz Wrote:

(26-02-2016, 09:33 PM)Bibi Wrote: I notice its current assets are HK$2382mil while current liabilities are HK$6064mil. Can someone enlighten me how is it going to pay off its current liabilities? More rights and loan?

-> Item vii 3 part of the loan is due to the bridge loan of 350 Mil USD

-> Has entered "five-year term loan facility in an aggregate amount of US$350 million" to retire the bridge loan...
http://infopub.sgx.com/FileOpen/Term_Loa...eID=384038

I c, I missed that notice. Thanks for the info.

gents, what happens at the end of lease for each of the expressways?

does cmh have the first right of refusal of renewal?

will appreciate insights into the renewal process..

all angmo houses selling. looks like institutional sell program

2016 Q1
=====
EPS: 9.07  (HK) cts = approx. 1.57 SGD cts

annualized approx. 6.28 cts (which is not sufficient to pay the 7 cts dividend, if CMHP can only pay dividend out of profit)