Opinions
Drummond Brodeur
CLP Holdings
002-HK
HOLD
Sep 26, 2008
Utilities have been great stocks to hold in this environment. Well positioned in Hong Kong but hard for them to gain any traction in China. A defensive holding to hang onto. As things start to improve and stabilize you will have better prospects elsewhere. Yield of about 4%.
$0.010
Stock price when the opinion was issued
electrical utilities
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Strong balance sheet, dividend and visible growth trajectory. Will benefit with then convert coal fired generation to natural gas in Hong Kong and get 9.9% return on net assets. 50/50 investors in two large nuclear generation facilities plus have existing nuclear generation assets in China. A sweet spot in the utility industry. Have a wholly owned Australian utility and believes it will be spun out by year-end. Stock price does not reflect this asset at present.
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