Operational capacity to return to normal.
In a release, Hutchison Port Holdings Management Pte. Limited, as trustee-manager of Hutchison Port Holdings Trust, reported that the wage increase proposal put forth by the external contractors of Hongkong International Terminals Limited, a subsidiary of HPH Trust, providing a 9.8 per cent pay rise, has been accepted by their workers and the external contractor workers have voted to return to work.
HIT is working promptly towards returning to its normal operational capacity.
While the operational productivity of HIT was to a certain extent affected during the duration of the industrial actions, the industrial actions did not have a material adverse impact on the performance of HPH Trust as a whole to date.
As at last week, HIT’s operational productivity has returned to between 80 and 90 per cent of its normal level. The TrusteeManager will closely monitor the rate of recovery of HIT and market development, and will provide material updates to unitholders of HPH Trust as and when appropriate.
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