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    QtrRevenue GrowthNet Profit MarginJun 1495.538.2Mar 14-10.419.9Dec 13-10.4
    + Net Profit margin and EBIT margin are positive and have seen consecutive rises in recent years. [Year ended, all figures in %]

    YearNet Profit MarginEBIT MarginDec 132057.2Dec 125.745.3

    Du Pont AnalysisROEProfit MarginAsset TurnoverEquity MultiplierCurrent Year7.652.30.11.4Previous Year9.554.40.131.4

    Greens spin a fantasy on energy imports

    10/24/2014

    The Ontario Green Party is peddling a hydro-powered fantasy in a bid to shut down the Darlington Nuclear Generating Station rebuild planned by the provincial government.
    The Greens have submitted a petition, signed by 1,100 citizens, asking Ontario Premier Kathleen Wynne to cancel the government's plans for the rebuild.

    Mozambique approves negotiations for 1,000-MW Chemba hydro project

    10/24/2014

    Mozambique's Council of Ministers has approved a resolution authorizing negotiations toward construction of the 1,000-MW Chemba hydroelectric project on the Zambezi River in central Mozambique.

    Iran to build hydropower plant in Armenia: Veep

    10/24/2014

    The official news agency of Iran (IRNA) has issued following news:
    Iran has plan to build a hydropower plant in Armenia in a bid to execute previous bilateral agreements, First Vice President Eshaq Jahangiri said on Monday.
    [Iran to build hydropower plant in Armenia: Veep]

    Swift River not revealing start date for project construction

    10/24/2014

    BALA - If Swift River Energy Ltd. officials have an idea what date they plan to access the proposed site for the Bala hydroelectric project, they aren't saying.

    Laos is acting responsibly on Mekong dam project

    10/24/2014

    Viraphonh Viravong

    Special to The Nation

    Environmental activists are once again lashing out at the Lao government and the intergovernmental Mekong River Commission (MRC) in the hope that hydropower projects on the Mekong will be delayed or cancelled.

    In a September 10 letter to the leaders of Laos, Thailand, Cambodia and Vietnam, activists complained that Laos was acting irresponsibly and that the MRC's procedures for assessing potential impacts of hydropower development on the Mekong were inadequate.

    Laos' hydropower dams draw criticisms from neighbours

    10/24/2014

    VIENTIANE, Laos: Laos is building a series of hydropower dams as it wants to transform the country into the "battery of Southeast Asia". But this ambition has drawn criticisms from its neighbours due to concerns over the impact on fishing communities and the environment. Hydropower is a major export for Laos. Two-thirds of electricity generated in the country is sold to its neighbours, mainly to Thailand.

    OPG plugs in 2 units at Lower Mattagami hydro project

    10/24/2014

    Ontario Power Generation Inc. on Oct. 15 said it plugged in two of three units at its Smoky Falls/Kâpâskilehtehk generating station project, starting up 178 MW of the 267 MW in planned capacity at the facility.

    Talks on with India over hydro projects differences

    10/24/2014

    The National Assembly was informed on Wednesday that discussions are being held with India for the resolution of differences over five hydroelectric projects on western rivers.
    Replying to a question in the House, Minister of State for Water and Power Abid Sher Ali said design issues of Kishenganga, Ratle, Miyar, Lower Kainai and Pakal Dui are under discussion at the Indus Commission level.

    Federal Hydro-Generating Company down 4.4% in 2 days 23 October, 2014 18:00 SAMT

    10/24/2014

    RUSSIAN DAILY STOCK REPORT

    Federal Hydro-Generating Company (MICEX:HYDR), Russia's largest electric company by market cap, extended its slide Thursday, shedding an additional 0.60 Kopeck (or 0.9%) to close at 66.90 Kopeck. The shares have sunk 3.11 Kopeck (or 4.4%) over the past two trading days. Compared with the MICEX Index which fell 14.4 points (or 1.04%) in the two days, this represented a relative price change of -3.4%.

    BEARISH SIGNALS
    Fundamentals:
    + Total Liabilities/EBITDA of 5.9 which compares unfavourably with the Joseph Piotroski benchmark of 5.
    + Net profit margin has averaged 2.4% in the last 3 years. This suggests the company is less profitable with a low margin of safety.

    Alterra Power, Fiera Axium complete C$176.5M financing for British Columbia hydro project

    10/24/2014

    Alterra Power Corp. and Fiera Axium Infrastructure Inc. have completed a C$176.5 million nonrecourse loan financing for the planned 62-MW Jimmie Creek hydroelectric project in British Columbia, according to an Oct. 16 news release.

    Haitian Hydropower International increases 1.2%, 3 days' volume in a day 23 October, 2014 17:00 HKT

    10/24/2014

    HONG KONG DAILY STOCK REPORT

    Haitian Hydropower International Ltd. (HK:08261), increased 1.0c (or 1.2%) to close at 83.0c. This has been propped up by high volume of 3.3 times average. Compared with the Hang Seng Index which fell 70.8 points (or 0.3%) in the day, this represented a relative price increase of 1.5%.

    BULLISH SIGNALS
    Fundamentals:
    + Net profit margin has averaged 14.5% in the last 3 years. This is better than the sector average of 9.4% and suggests a high margin of safety.
    + Net Profit margin is positive and has seen consecutive rises in recent quarters. [Quarter ended, all figures in %]

    After delays, AltaGas begins final testing at 195-MW hydro facility

    10/24/2014

    AltaGas Ltd. on Oct. 16 said its 195-MW Forrest Kerr run-of-river hydroelectric facility in British Columbia has initiated the final phase to achieve contractual commercial operations date.

    J&K govt collected Rs 2062.51 Cr as water charges from NHPC

    10/24/2014

    Srinagar, Oct. 23 -- Jammu and Kashmir government has collected a whopping 2062.51 crore as a water usage charged from the National Hydroelectric Power Corporation(NHPC) since water Resources Regulation and Management act was put in place.

    Back To Waddamana: Hydro Tasmania's centenary celebrations focus on its first power station

    10/24/2014

    Hydro Tasmania is inviting former employees and past residents of Waddamana to celebrate its first hydropower station supplying Hobart.

    Back to Waddamana Day kicks off on Sunday at the Waddamana power station museum and village, north-east of Bothwell in the Central Highlands.

    PTA between Nepal, India is a welcome opening in mutual economic cooperation

    10/24/2014

    The formal signing of the Power Trade Agreement (PTA) between Nepal and India on Tuesday marks the completion of a long, arduous process and opens the doors to the development of Nepal's hydropower sector. The PTA, first prepared in 2010, had seen four years of vacillations on both sides. It took an Indian prime minister focussed on enhancing neighbourhood relations on the basis of mutual economic benefits to finally get the ball rolling. During Narendra Modi's August visit to Kathmandu, the PTA was expected to be signed, but sensitivities delayed the process. Instead, a joint communiqué was released, promising a PTA within 45 days. The 'Agreement on Electric Power Trade, Cross-border Transmission Interconnection and Grid Connectivity' was thus signed at Singha Durbar by the energy secretaries of the two countries, indicating a welcome opening in mutual economic cooperation between the two countries.

    Vernon still hopes for hydro dam settlement

    10/24/2014

    The town's long-running tax dispute with energy giant TransCanada has been scheduled for a trial early next year.
    Selectboard members are holding out hope that a trial can be avoided, voting this week to allow town attorney Richard Coutant to continue settlement discussions regarding the assessed value of the Vernon Hydroelectric Station on the Connecticut River.

    Vinh Son - Song Hinh Hydropower decreases 0.7% - trailing 86% of stocks 23 October, 2014 17:30 ICT

    10/23/2014

    VIETNAMESE DAILY STOCK REPORT

    Vinh Son - Song Hinh Hydropower Joint Stock Company (HOSE:VSH), Vietnam's 2nd largest electric company by market cap, decreased VND100.0 (or 0.7%) to close at VND14,300.0, ending a three-day streak of rises. In the Vietnam market of 441 stocks traded today, the stock has a 6-month relative price strength of 14 indicating it is trailing 86% of the market. Compared with the VN Index which fell 7.6 points (or 1.3%) in the day, this represented a relative price increase of 0.6%.

    BEARISH SIGNALS
    Fundamentals:
    + As per the Du Pont analysis, Return on Equity is less than stellar at 7.6%. This is computed as net profit margin of 52.3% times asset turnover [sales/assets] of 0.1 times leverage factor [total assets/shareholders' equity] of 1.4. Also, this has deteriorated from 9.5% last year.

    Morning Alert: Guangdong Meiyan Jixiang Hydropower drops 3.0% - underperforming 96% of stocks 23 October 2014 10:45 CST

    10/23/2014

    CHINESE INTRA-DAY STOCK REPORT

    Guangdong Meiyan Jixiang Hydropower Co., Ltd. (SS:600868) dropped 9.0 fen (or 3.0%) today to trade at CNY2.91 and has underperformed 96% of the market in the past week.

    Na Loi Hydropower falls for a second consecutive day, a two-day fall of 2.5% 23 October, 2014 17:30 ICT

    10/23/2014

    VIETNAMESE DAILY STOCK REPORT

    Na Loi Hydropower Joint Stock Company (HNX:NLC), Vietnam's 8th largest electric company by market cap, fell VND100.0 (or 0.4%) for a second consecutive day on Thursday bringing its two-day fall to VND700.0 or 2.5%. The stock last traded at VND27,000.0. Compared with the VN Index which fell 6.9 points (or 1.14%) in the two days, this represented a relative price change of -1.4%. The volume was 0.8 times the average trading of 22,156 shares.

    BEARISH SIGNALS
    Fundamentals:
    + As per the Du Pont analysis, Return on Equity of 13.3% is lower than sector average of 19.6%. This is computed as net profit margin of 32.6% times asset turnover [sales/assets] of 0.39 times leverage factor [total assets/shareholders' equity] of 1.0.

    Morning Alert: Sichuan Minjiang Hydropower - A Share in 3rd daily fall, nears one-month low 23 October 2014 10:45 CST

    10/23/2014

    CHINESE INTRA-DAY STOCK REPORT

    Sichuan Minjiang Hydropower Co., Ltd - A Share (SS:600131) slipped further on Thursday, sliding an additional 15.0 fen (or 2.8%) to trade at CNY5.24. The stock decreased 1.94% on Tuesday and 3.23% on Wednesday bringing its 3-day fall to 7.7%. It is now approaching its a 23-day low of CNY5.20.

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