- A country’s economic growth is steered by its infrastructure sector.
- Infratil announces its commitment to develop Gurīn Energy.
- Fletcher Building intends to hold its ASM in October.
For any country, infrastructure companies are the enabler of its economic growth. Airports, roads, railways, electricity, construction, and property companies are the very backbone on which a modern economy prospers.
Having said that, here are the five popular NZX-listed infrastructure stocks.
Image source: © 2021 Kalkine Media New Zealand Ltd, data source- Refinitiv
New Zealand’s prominent infrastructure company is Infratil Limited. Recently, the Company declared its commitment worth US$233 million to build Gurīn Energy.
This Singapore-based, new renewable energy development platform would focus on Asia’s greenfield renewable projects.
It is noted that the Gurīn Energy project would invest in developing wind and solar PV energy projects across Asia.
On 24 September, at the time of writing, Infratil fell by 0.12% at NZ$8.025.
Fletcher Building Limited (NZX:FBU)
Founded in 2001, Fletcher Building Limited functions across the entire building supply chain. FBU has revealed to hold an online ASM on 19 October.
The said meeting would be held through the Computershare Meeting Platform.
On 24 September, at the time of writing, Fletcher Building was trading up by 0.41% at NZ$7.280.
Metro Performance Glass Limited (NZX:MPG)
NZ’s leading glass supplier is Metro Performance Glass Limited. Recently, the Company provided an update on its first-half performance, which has been hugely impacted by the ongoing COVID-19 crisis.
Lockdowns across NZ have resulted in significant uncertainty, disruption as well as product shortages across MPG’s domestic construction supply chain.
This is likely to impact the industry for several months, plus, additionally being affected by the increased costs due to international glass supply and shipping delays.
Hence, the Board has decided to defer the recommencement of dividends, which earlier were expected to be announced in November, when MPG's interim performance would be revealed.
On 24 September, at the time of writing, Metro Performance Glass decreased by 1.25% at NZ$0.395.
Steel & Tube Holdings Limited (NZX:STU)
Steel & Tube Holdings Limited is the country's renowned name for providing steel solutions. Owing to the ongoing uncertainties associated with the COVID-19 situation in New Zealand, STU has scheduled an online ASM for 30 September.
On 24 September, at the time of writing, Steel & Tube Holdings remained unchanged at NZ$1.04.
MHM Automation Limited (NZX:MHM)
MHM Automation Limited is famous for building and distributing automated equipment for the logistics and food processing sector. On 29 October, the Company is planning to organise its Annual Meeting in Christchurch.
For this, director nominations can be sent by 28 September.
On 24 September, at the time of writing, MHM Automation was flat at NZ$0.63.
For a rock-solid foundation and progression of an economy, a robust infrastructure sector is a necessity, without which nation would face difficulty in its growth and advancement.