Homepage
PR Newswire
06-08-2012, 07:04 PM
Pan United released their 1H results today and as majority shareholder of CXP, it is always interesting to hear what they have to say:
Coupled with HNE toll rate reduction from 1 June 2012, the proportionate EBITDA for 2Q 2012 may not be in great shape. Looks like it is up to TBC to save the day !
(Not Vested)
Quote:Although the Port division handled lower volume of steel and other general cargoes, the volume of its other core cargoes of logs, pulp and paper had increased. However, a normalised corporate tax rate of 25%, which took effect from 1 January 2012 following the expiry of a 10-year concessionary tax rate of 12% in FY 2011, higher staff and maintenance costs reduced its profitability.
Coupled with HNE toll rate reduction from 1 June 2012, the proportionate EBITDA for 2Q 2012 may not be in great shape. Looks like it is up to TBC to save the day !
(Not Vested)
Disclaimer: Please feel free to correct any error in my post. I am not liable for anything. Do your own research and analysis. I do NOT give buy or sell calls and stock tips. Buy and sell at your risk. I am not a qualified financial adviser so I do not give any advice. The postings reflects my own personal thoughts which may or may not be accurate.