Investment Thesis: Look for a bumper final dividend Key Arguments: Cheapest valuations out of the three port companies under our coverage; maintain BUY with higher TP of HK$18.50. The stock is trading at a 0.5x FY21F P/BV, which is below its five-year mean, against a projected ROE of 8.7% with a decent FY21F dividend yield of […]

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