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Utilities (HongKong (CK Infrastructure, HK Gas, Power Assets Holdings, CLP…

- - - - Regulated/Unregulated
    - - Different Customer Segments
      - GDP Multiplier
  - - - PPAs
      - Capacity Addition
      - Utilisation
      - Industry Demand
      - Market Share /Threat from Renewables
    - - Management
      - Balance Sheet
        
        Quality of Assets
        
        Gearing
    - - P/E
      - P/B