HKG:0003

2 stories mentioning HKG:0003Updated 27m ago

Every FINWIRES story that references HKG:0003, newest first.

Towngas Plans 4.4% Hong Kong Gas Tariff Increase From August

The Hong Kong and China Gas (HKG:0003), or Towngas, plans to raise its basic gas tariff by 4.4% from Aug. 1, according to a Thursday press release.The adjustment will raise the basic tariff by HK$0.0125 per megajoule, while the monthly maintenance charge will increase by HK$1 to HK$11.Towngas said the changes are equivalent to a 3.9% increase in the average effective gas tariff based on 2025 levels and reflect rising operating and labor costs as well as planned infrastructure investments.The utility said it will not make further adjustments to the basic tariff or monthly maintenance charge for the next two years.

HKG:0003

Asia17d ago

Market Chatter: Towngas Eyes Third-Party Funding to Fund Growth Businesses

The Hong Kong and China Gas (HKG:0003), or Towngas, plans to support the expansion of its newer businesses through third-party funding rather than raising fresh capital, The Standard reported Monday, citing Chief Investment Officer Alan Chan Ying-lung.Chief Financial Officer Edmund Yeung Lui-ming said Towngas' businesses are currently split between core operations and growth businesses, which contribute about 90% and 10% of profits, respectively, according to the report.Yeung expects the contribution from growth businesses to increase to 20% to 25% over the next four to five years, the report said.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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