NWS Holdings readies HK$4b for investments

Infrastructure and services conglomerate NWS Holdings has prepared a war chest of HK$4 billion for acquisitions and investments in the first half this year, including further investment in Beijing Capital International Airport, the Hong Kong-listed firm's executive director, Tsang Yam-pui, said yesterday.

NWS wanted to increase its interest in Beijing airport to a substantial minority stake this year, but it would be less than 50 per cent, Tsang told a media conference.

"We continue to acquire more shares of Beijing airport in the open market. We will invest a bit more in Beijing airport," he said.

By Monday, NWS had invested a total of HK$2.7 billion for 23 per cent of the H shares of Beijing airport, or 9.98 per cent of its entire share capital, making it the second-largest shareholder in the capital's airport operator, Tsang said. That is an increase from the company's HK$2.36 billion investment in 20.38 per cent of the H shares of Beijing airport, or 8.84 per cent of its total share capital, announced by NWS on December 20.

Beijing airport would start producing recurring earnings contributions to NWS in the second half of this year, Tsang said.

"Our investment priorities are still infrastructure projects," he said. "We will continue to look for quality expressway projects in China. Geographically, we will focus on China because that is the market we know best."