Phil Hadi Jawa's questions to CHINA PETROLEUM & CHEMICAL (SNPMF) leadership • Q3 2017
Question
Phil Hadi Jawa asked about Sinopec's target leverage metrics for its balance sheet and inquired about the company's future plans in Africa following the development in the South African and Botswana transaction.
Answer
Executive Chen Ge explained that for the Africa deal, a minority shareholder exercised their first right of refusal, and Sinopec is now monitoring the government approval process before deciding on next steps. Regarding leverage, CFO Dehua Wang stated that the current gearing is around 43% and the company aims to maintain a level of roughly 50% to keep the balance sheet healthy while pursuing its strategic plans.