HK Electric Investments and HK Electric Investments Limited

2638
Failed

Company Overview

HK Electric Investment was established in January 2014 and is a fixed single investment trust focused on investing in the energy industry. Its joint stock order with HK Electric Investments Limited (collectively, “HK Electric Investments”) is listed on the main board of the Hong Kong Stock Exchange. The structure of the trust is beneficial to HK Electric Power Investments wholeheartedly to bring stable distribution to joint stock holders and ensure that the trust has the potential to achieve long-term and sustainable development. “HK Electric”, the main operating company invested by HK Electric Power, is a power utility company. Its business covers power generation, transmission and distribution, and power supply services, providing electricity to approximately 586,000 customers in Hong Kong, China. Since 1890, HK Electric has been committed to providing affordable, safe and reliable electricity to help promote the economic development of Hong Kong, China. We are increasing the use of gas and renewable energy to generate electricity and support community carbon reduction to help tackle climate change and help Hong Kong, China reach carbon neutrality by 2050. Adhering to HK Electric's long tradition, we continue to contribute to Hong Kong society in a positive and responsible manner by closely connecting with the community and supporting disadvantaged groups. HK Electric has maintained a world-class power supply reliability of over 99.999% since 1997. We will continue to push Hong Kong, China to become a caring smart city and move towards a sustainable future.

Country
HK
Market Cap
$5.34B
Last Fiscal Year
2023
Final Shariah Status
Failed
Compliance Analysis Overview

Shariah Compliance Benchmarks:

  • Business Compliance: Non-Shariah compliant revenue must be less than 5% of total revenue
  • Liabilities Compliance: Interest-bearing debt must be less than 33% of market capitalization
Business Compliance
0.38% passed
5% Threshold
0.4%
Liabilities Compliance
121.02% failed
33% Threshold
121.0%
Final Shariah Status
Failed

This stock does not meet all Shariah compliance criteria according to AAOIFI standards.

Stock Information
Name HK Electric Investments and HK Electric Investments Limited
Ticker 2638
Main Business Utilities—Regulated Electric
Type Common Stock
Industry Utilities—Regulated Electric
Country HK
Market Cap $5.34 B

Shariah Analysis Breakdown

Business compliance Breakdown
Revenue Segment Value ($M) Non-Compliant ($M) Reason
Revenue $11,406.0 $0.0 -
Interest income $44.0 $44.0 -
Total $11,450.0 $44.0 0.38% (passed)
Liabilities Compliance Breakdown
Liability Item Value ($M) % of Market Cap
bank loans and overdrafts $97,307,692.3 1.82%
long term bank loan $6,339,743,589.7 118.77%
derivative financial instruments non current liabilities $23,205,128.2 0.43%
Total Interest-Bearing Debt $6,460,256,410.3 121.02%
Market Capitalization $5,338,000,000.0 100.00%
Compliance Status Threshold: 33% failed