Investment Thesis: Higher dividends within reach Key Arguments: Recommend BUY with higher TP of US$0.33 on the back of strong throughput growth and resilient earnings. With YTD volumes at both Yantian (+9.0% y-o-y) and Kwai Tsing (+3.4% y-o-y) ports above our expectations, we raise our FY21F throughput growth assumptions from 3% to 4% for Yantian and […]

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