The Q&A session of the HPH AGM 2024 has become unexpectedly long with each passing minute as shareholder, one after another, started asking more and more questions. This is a good thing in my opinion as almost all the questions were of quality and there were useful suggestions. (As a note, you could read Parts 1 and 2 of this article here)
I would not include the questions asked in this final third part post of my sharing of the Hutchinson Port Holdings Trust (HPH) AGM 2024. As sharing, there were many questions made referencing to the annual report of HPH for 2023 and I noted that the Board and Management have replied them at the AGM competently.
What I would like to wrap up my post on the AGM for HPH with were just the sharing of some suggestions by the shareholders.
First (though this came as one of the suggestions made in last parts of the AGM), was the ultimate question of possible delisting of the stock. I mentioned this point in this post first as I have always thought of this possibility for HPH Trust for the longest time. As what the shareholder who asked this question matter-of-fact put it, it could be very challenging for HPH Trust to go back to its IPO price (my own note: to do this, HPH Trust will have to be a 10-bagger from current price). The management could propose a delisting and privatisation of the trust at a premium to the current stock price and shareholders would walk away slightly happier than current price. In response, the management replied that its focus will be to continue improving its business and enhancing shareholder value.
Then, there was also suggestions, for the Board and Management to unlock the port assets which are not doing well and projected to still not be doing well as the other port assets). One shareholder reminded the management that a similar question was asked before on whether the said port assets could be unlocked for venture into property development opportunities, especially given that land for properties is scare in Hong Kong. The Board and management noted this suggestion and my understanding was that the management under this new Chairman is still very much focused on improving the HPH Trust business at its core.
Summarising this three-part post, I would just want to share with readers, that there are quite a number of Singapore stocks which I bought and sold before at a loss throughout my investing journey. HPH Trust is the only stock which I bought at IPO and held for more than 10 years that I still currently hold. I even added more of HPH Trust throughout my holding period.
While the capital gain for the trust is regrettable for me, I have always do not mind holding this trust as I treat it as a good dividend play and for the fact that after attending some previous AGMs like the AGM for this year, I am still confident of the Board and Management of HPH to continue to do a good job! Some may think that this could be a typical “brainwash” at AGMs but having attended quite a few AGMs of HPH Trust, my view has always been consistent. And to share, I may even add on more of this Trust when there is a good opportunity point in the future!
Thank you for reading my three-part post on HPH AGM 2024. I will likely to remind all readers to invest diligently with your hard-earned monies. This three-part post is not a recommendation on HPH Trust, please always do your own due diligence when it comes to investing. Thank you!