US attack raises KMB cost: John Chan

Kowloon Motor Bus Holdings Limited (0062) Chairman John Chan said that the US devastating attacks shocks him greatly. He believed that such an incident will affect the Hong Kong economy and market sentiment in the short term, leading crude oil price to surge and increasing the cost of KMB. Since oil represents 10% of the total cost of the company, it will try to cut down expenses in other aspects. He expected that the stock price of the company and Roadshow (0888) will fluctuate due to the incident, but since the company has no properties in the US, neither have transactions in US dollar, he believed that influence will not be significant to the company.

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