Hong Kong: Hutchison Port Holdings Trust (HPH Trust) is looking to restart a previously-shelved expansion plan next year as it has seen increasing demand for Chinese goods from United States and Europe.
HPH Trust reported a HK$558.9m net profit for the first-quarter, a year-on-year growth of 47% and it is the company’s first quarterly profit increase in five quaters.
HPH Trust is looking to add berths from 2015 to its Yantian International Container Terminals in Shenzhen, according to Gerry Yim, ceo of HPH Management, the manager of HPH Trust. Yim said the expansion plan was initially scheduled to begin in 2010 but was postponed as the overall market saw slower growth back then. The expansion is estimated to cost HK$4.5bn.
Yim said the company is flexible about the plan, and there’s a possibility that the company might push the plan back further if the market is not good. [29/04/14]