HPH Trust – DJ

Newly-listed port operator Hutchison Port Holdings Trust (NS8U.SG) said Friday that it expects "minimal" impact from Japan''s destructive earthquake and tsunami.

"It''s minimal," Chairman Canning Fok said when how Hutchison Port''s operations might be affected by last week''s magnitude-9 earthquake and ensuing tsunami, which has forced the closure of many production lines and ports in Japan.

"Our trade is more intercontinental, 70% of our trade is intercontinental. I think we are well protected by the nature of our business," he added.

The unit of Hong Kong conglomerate Hutchison Whampoa Ltd. (0013.HK) made its debut on the Singapore Exchange Friday at US$0.975 a unit, 3.5% below its initial public offer price of US$1.01, in the largest ever listing on the Singapore bourse.

Fok said he was happy with the opening price given the current market conditions.

The debut comes at a difficult time for new listings in Asia, with equity markets being sold off heavily after the destructive earthquake and tsunami in Japan and worsening geopolitical tensions in the Middle East.