HTI- Ai nhanh tay gắp bằng tay em

Thấy bảo hiệp 2 về 18 là đẹp...ko chịu nổi nhiệt chạy mất hết dép rùi hử...​

--- Gộp bài viết, 12/02/2015, Bài cũ: 12/02/2015 ---

Oaaaa...HTI....oaaaa....HTI...oaaaaaa

--- Gộp bài viết, 12/02/2015 ---

Oaaa...về 18...trước tết hử các anh...oaaaaa....HTI...oaaaaa

Ngày trước nhìn thanh khoản HTI chỉ muốn khóc....bây giờ nhìn lại thấy tốt ghê cơ...ha ha ha...đúng là phần thưởng chỉ dành cho những người có tính kiên nhẫn....ha ha ha

HTI - NON-RATED - 11% dividend yield as toll fees get 50% boost - Company Brief

Analyst: Tram Ngo, office #:+84 3914 3588 ext.135, email: tram.ngo@vcsc.com.vn

- HTI is an USD18mn market cap stock (USD200k traded daily) that operates the toll on the An Suong-An Lac (ASAL) route, one of the most indispensible, connecting Ho Chi Minh City and provinces in the Mekong Delta.
- Representing 90% of company revenues, the ASAL toll fees will be hiked by ~50% in FY15 which will increase earnings at similar pace.
- HTI said it will increase its cash dividend from VND1,000 to VND1,700 per share (10.8% yield) from FY14 onwards, which would be supported by FY14 EPS of VND1,460 (actual) and FY15E EPS of VND2,937 (VCSC).

Toll fee collection is the mainstay of business. HTI is a subsidiary of IDICO, a large entity under the Ministry of Construction. About 90% of its revenue comes from the collection of toll road fees at An Suong - An Lac (ASAL) tollbooth located on the route connecting Ho Chi Minh City and Mekong Delta provinces.

In exchange for a lift in toll fees at ASAL tollbooth in 2015, HTI undertook the construction of the overpass at the intersection of the Highway 1 and Huong Lo 2 Street. The project commenced in 3Q14 and is expected to complete in about 8 months. The investment cost is estimated at VND400bn, of which 85% will be financed by bank loans, which explains the escalation in debt balance in FY14.

Profit poised for a big jump in FY15 on the back of the toll fee hike. On 24 December 2014, Ho Chi Minh City People's Committee approved HTI’s proposal to raise the toll road fees at ASAL tollbooth by 25% - 66%, effective from 1 Jan 2015 until end of 2019.

We estimate FY15 revenue to reach VND257.3bn (+43.4% vs. FY14) thanks to the toll fee increase. We believe FY15 bottom line can grow even more by roughly 100% vs. FY14, given that fixed costs constitute approximately 36% of HTI’s operating expenses.

High dividend yield - after maintaining cash dividends at around VND1,000/share during 2010-2013, HTI announced to raise it to VND1,700/share from FY14 onwards, equivalent to 10.8% yield at the current share price of VND15,700. We believe this dividend policy is sustainable because HTI generates stable cash flows from operations, which should level up starting from 2015.

Attractive valuation. At the current price of VND15,700, HTI is trading at attractive FY15 PER of 5.3x VCSC’s estimated EPS of VND2,937 (+100% vs. FY14).

Ai muốn đọc thì phải dịch hử ..Tui dốt tiếng anh lắm đó ..mà về nhà thì tất cả các đồng đội cũ chắc bán hết giá 14 rùi thì phải ..Ôi buồn quá cái bọn ăn non ...cầm cổ phiếu không được vài tháng mà cứ đòi chơi ăn cổ phiếu ăn bằng lần

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