Golden Sachs evaluates IIHC at HK$2.34 bln to HK$2.73 bln

Golden Sachs evaluated ICTSI IIHC, which was planned to be acquired by Hutchison Whampoa Harbor, worth US$300 mln to US$350 mln(circa HK$2.34 bln to HK$2.73 bln), 17-20 times as the price/earnings ratio in 2000.

IIHC, which owned 7 harbors, profited US$17 mln last year. Once there were private investors spending US$70 mln to purchase 29% shareholding of IIHC in 1999.

The handling capacity of its relevant harbors in 2000 was 1.6 mln containers, circa 6% of the total annual handling capacity of Hutchison Whampoa Harbor, so the impact of the relevant acquisition over Hutchison Whampoa (0013) was very limited.

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