An obscure ZIM in Africa traded Down Under Message Board

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Gold/Mining/Energy : An obscure ZIM in Africa traded Down Under

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To: TobagoJack who wrote (236)	9/12/2002 5:49:14 PM
From: TobagoJack	of 867

Hi Jay, This is an update on portfolio member, Hub Power of Pakistan ... (a) Current annualized dividend yield of 27% appears secure as Pakistan has USD 7.2 billion of forex reserve, and state-owned utility (counterparty to the Power Purchase Agreement) default risk has gone down substantially; (b) Expected annualized yield is around 35% assuming all goes well in WAT/WOT and whatnot, and that power payments in arrears are distributed (as opposed to reinvested);0) (c) Project sponsors (National Power of UK, Xenel of Saudi Arabia, IHI of Japan, K&M of USA) should see that their interests are protected from one and all; (d) The Pakistani government, both for international relations and domestic benefits (HUB accounts for 8.1% of Pakistan's installed generating capacity), should focus on protecting this jewel on the local stock exchange; and (e) At a reasonable 15% discount rate, the share should zoom by 87% based on dividend flow. I am wondering, supposing this is the bottom for the stock's price, why are folks not clamoring to buy;0) Chugs, Jay

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