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261-280 of 648
1sgd = 23.49NT, thus 457NT million = 19.87S$million
Cash and cash equivalent is 110million > > 19.87million loan of miaoli wind.
Hunter2011 ( Date: 28-Mar-2012 15:06) Posted:
ZERO debt at MIIF level but Business level borrowings are more than S$1 billion MIIF Debt profile page 24.
By how much MIIF cash flow will be affected by
CXP Loan-
- bullet repayment of RMB 180m in FY2014
- bullet repayment of RMB 175m in FY2014 – 2017 ??
Can Miaoli Wind refinance NT$457 million loan due Dec 2012?
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ZERO debt at MIIF level but Business level borrowings are more than S$1 billion MIIF Debt profile page 24.
By how much MIIF cash flow will be affected by
CXP Loan-
- bullet repayment of RMB 180m in FY2014
- bullet repayment of RMB 175m in FY2014 – 2017 ??
Can Miaoli Wind refinance NT$457 million loan due Dec 2012?
the impact should not be large as it is able to be covered by TBC. we have to watch the management fees. getting larger.
i wrote a breakdown on how they are going to fund this 5.5 cents 65 mil
last time here.they are probably pushing it probably give 5 cents next time.
Can 5.5c (p.a) dividend of MIIF lasting forever?
… policy risks at HNE in the short-term could impact DPU but management to seek compensation.
As part of a national porgramme to review toll rates, the Guangdong Transport Bureau has announced plans to standardize the toll rate used to calculate tolls by all highways in the Guangdong Province. The implementation of the plan may result in toll rate declining by about 20% at HNE Phase 1, which will adversely impact EBITDA and margins as well lower FY12 distribution by an estimated 13%. However, the adverse impact is expected to be mitigated by compensation which MIIF will seek with the authorities.
(Souce: MIIF: Potential headwind at HNE but management will seek compensation(NRA) )
Company can buyback another 3% of the total issued shares
Seems likely to touch back 60cents again! Can buy now and sell back to the company
The daily share buy back have push the share price up.
18 march 774lots at 0.575
21march 1600lots at 0.58
22march 2500lots at 0.5974
28march 1677lots at 0.6035
29march 500lots at 0.61
30march 534lots at 0.6137
Started share-buy back starting from 18 Mar 2011... Coming AGM will on 7 April.
In the last AGM, the mgt has said that it will return excess cash to shareholders if they can't find any new interesting investment in asia. Now sitting with 36 cents of cash, I'm waiting for a position news this year. ;>
ballistic breakout indeed. this is a good counter with good dividends. and it cheong upwards today.
http://sgsharemarket.com/home/2010/11/macqintinfra-ballastic-breakout/
a06724,
There were 109 Trades bot & sold 10,153 lots.
Do u think still can buy??? Ask urself... Think 1st, I cnt say so much here...
| WEIGHTED AVG PRICE : 0.5646 |
LAST DONE PRICE : 0.555 |
| SPREAD/PRICE RATIO : 0.0000 |
AVG TRADE SIZE : 70.218 |
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a06724 ( Date: 15-Sep-2010 10:26) Posted:
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still can buy ?
MacqIntInfra once break its record high... It'll fly sky high liao...
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KIMPEK ( Date: 07-Sep-2010 16:43) Posted:
How do you know, BB is interested in this counter???
Bon3260 ( Date: 07-Sep-2010 15:23) Posted:
I saw BBs r in MacqIntInfra now...
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One of the few very undervalued stock on SGX. NAV at HY2010 was revised to 80c.
shplayer ( Date: 17-Jul-2010 14:13) Posted:
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Since the completion of its divestment of MEIF on 31 May, Co. NAV is 76c which comprises 36c cash (S$467m) and 40c in Invested Assets (IA).
The IA consists of
- Miaoli Wind (MW) in Taiwan – 100% owned but loss making. Co. has written down it value to $0.. Co. is in the process of getting Carbon Credits for this project which will enhance the value of MW and hopefully make it more attractive for divestment.
- Hua Nan Expressway (HNE) – 81% stake - toll highway in Guangdong China. Book Value $291.6m.
- Changshu Xinghua Port (CXP) – 38% stake in port in China, Book Value $85.8m.
- Taiwan Broadband Communication (TBC) – 20% stake in Taiwan – Book Value $172.7m.
HNE, CXP and TBC are profitable. Based on 2009 distribution, these investments should yield eps of 2.0c or more. From Co. commentary, 2009 distribution can be maintained or improved for 2010.
Hence, shareholders of MIIF can expect a dividend of 2.0c for 2010 (3.0c in FY2009). But, given the healthy cash horde, Co should easily maintain its 2009 divident of 3.0c….but that is left to be seen.
Given the current low interest environment, sitting on 467m cash will not give shareholders an attractive yield. Co. has stated their intentions as follows:
- Look for new investments in Asia.
- Return excess cash to shareholders thru capital reduction.
- Share buyback – personally I am not in favour of this
At a price of say 50c for MIIF, investor is paying 36c for its cash and 14c (36 + 14 = 50c) for its IA which is valued at 40c…..a 65% discount.
Note – over the past 12 months, SGD has generally strengthened against the TWD and Yuan. This may affect the distribution revenue when translated into SGD. However, the S$467m will be an advantage for new investments potentials.
Caveat emptor
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Now u belief???
Hahahaha...
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KIMPEK ( Date: 07-Sep-2010 16:43) Posted:
How do you know, BB is interested in this counter???
Bon3260 ( Date: 07-Sep-2010 15:23) Posted:
I saw BBs r in MacqIntInfra now...
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Volume is up very fast for the past hour. Hopefully it will go up above 58 cents.
