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PR Newswire
25-07-2019, 08:08 AM
The management of HPH Trust said in its results announcement that the global external environment continues to be challenging, with trade tensions between the United States and China having heightened in recent months, with new tit-for-tat tariffs imposed in the second quarter of 2019."Trade protectionism, macroeconomic and political uncertainties, including the slowing Chinese and European Union (EU) economies and the yet-to-be-resolved Brexit from the EU, threaten the recovery of global trade," it said.
https://links.sgx.com/FileOpen/HPH%20Tru...eID=571516
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While 'trade tensions' is the given reason of the weakness in earnings and distribution, the results showed a flat top line and an increase in financing costs. It looks more like 'banker tension' to me.
It also looks like they are continuing to partially fund distributions out of their depreciating land lease. I suppose there is no intention to renew the land lease, or maybe there is no expectation that it will be renewed.
If so, there could be a case for investment, but only if HPHT's income can be accurately determined.
https://links.sgx.com/FileOpen/HPH%20Tru...eID=571516
...
While 'trade tensions' is the given reason of the weakness in earnings and distribution, the results showed a flat top line and an increase in financing costs. It looks more like 'banker tension' to me.
It also looks like they are continuing to partially fund distributions out of their depreciating land lease. I suppose there is no intention to renew the land lease, or maybe there is no expectation that it will be renewed.
If so, there could be a case for investment, but only if HPHT's income can be accurately determined.