UBS Equities-APAC Focus Hong Kong Utilities _Turning point for overseas ...-107014489
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- 《UBS Equities-APAC Focus Hong Kong Utilities _Turning point for overseas ...-107014489.pdf》
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- 8% in 2023-28E (-5% in 2017-22) and note an attractive 6% dividend yield. Our
- between 2023-28E. CKI and PAH should benefit from this upcycle, as 65% of their
- For CKI/PAH overseas business, we expect a 13% 2023-28E earnings CAGR in the UK
- and Australia (-10% in 2017-22), supported by the regulated return on assets (ROA) and
- the regulated asset base (RAB). We estimate an ROA uplift to 5.5% in 2028 from 4% in
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