Overview Key strengths Key risks Improving leverage on recovering operations, likely lower capital expenditure (capex) and investments for acquisition. Increasing geopolitical uncertainties raise risks for business operations and expansion abroad. Large and diversified portfolio comprises mostly regulated utility assets. High offshore interest rates pushing up refinancing costs. Strong support from parent and government in its strategy, operations, and funding access. Potential volatile capex due to appetite for large-scale acquisitions and investments. As the pace of the company's acquisitions slows down, its asset base is plateauing. Robust cash flow from existing investments will sufficiently cover SGID's planned expansion (primarily at the subsidiary level) and dividends. This should enable the company to reduce by HK$2 billion-HK$5 billion each year in 2023-2025, from
