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Latest Forum Topics / Macquarie Intl  Post Reply
MIIF
oldflyingfox
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11-Jan-2013 23:08     
 
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The usual dividend announcement should around 2nd half of this month. I guess it will also come with the special dividend from it's existing cash.

A CNY's hong bao is coming.... >
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cheongsl
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11-Jan-2013 21:42     
 
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 Alert Admin 		This will move in the next few days, it usually move when STI weakness appear, and currently STI is experience weakness.
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Rokawa
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11-Jan-2013 19:14     
 
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since its oversea and untaxed yet, how much after Singapore taxed the dividend.

Total distribution deduction?

example. 3.2 cents = $32 dividend. After tax how much dividend actually go into wallet.
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steadylar
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09-Jan-2013 10:25     
 
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Hohohoho

This BIG CASH COW is getting BIGGER & FATTER...............

 

steadylar      ( Date: 08-Jan-2013 12:38) Posted:



I see a BIG CASH COW! Moooooooo........

Zero debt! So we happy shareholders will get all the cash (plus special dividends?)   from  asset  sale proceeds. 

Today read both AM Frasers and Macquarie reports,  stated fair value of 70 c and 66 c resp.

Special dividends + regular dividends will be abt 6+  cts (S$) in Feb !

 

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New123
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08-Jan-2013 14:23     
 
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 Alert Admin 		Yup! collect dividend 1st.  be patience ,more to come..
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steadylar
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08-Jan-2013 13:30     
 
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If total dividends for the coming Feb is 7 cts, that's even sweeter! Analysts are projecting around 6 cts plus to 7 cts. Another round of distribution is usually in Aug.

 

 

New123      ( Date: 31-Dec-2012 23:25) Posted:

Cash at 30 September 2012 amounted to S$59.9 million.

Minus 9.9M for other fees balance 50m

  Number of issued shares as at 30 September 2012 1,155,037,154

suggest special dividend of 50/1155 = $0.043  + usual dividend $0.0275 = $0.07 = $70 per lot.  


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steadylar
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08-Jan-2013 12:38     
 
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I see a BIG CASH COW! Moooooooo........

Zero debt! So we happy shareholders will get all the cash (plus special dividends?)   from  asset  sale proceeds. 

Today read both AM Frasers and Macquarie reports,  stated fair value of 70 c and 66 c resp.

Special dividends + regular dividends will be abt 6+  cts (S$) in Feb !

 
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New123
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31-Dec-2012 23:25     
 
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Cash at 30 September 2012 amounted to S$59.9 million.

Minus 9.9M for other fees balance 50m

  Number of issued shares as at 30 September 2012 1,155,037,154

suggest special dividend of 50/1155 = $0.043  + usual dividend $0.0275 = $0.07 = $70 per lot.  

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New123
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31-Dec-2012 22:46     
 
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Mr Frank Kwok, Executive Director of MIIF said: “Overall, the operational performance

of our investments remained robust with Taiwan Broadband Communications and

Changshu Xinghua Port performing strongly. Taiwan Broadband Communications had

strong demand for its digital TV and broadband products, while Changshu Xinghua Port

continues to benefit from product diversification.

Portfolio Outlook

It is anticipated that TBC will see continued subscriber growth across all of its

businesses, with particularly strong growth in digital up-take.

CXP is anticipated to continue to perform steadily in 2012, with growing paper and pulp

and log volumes.

HNE is expected to benefit from favourable traffic drivers including the opening of

Guanghe Expressway, a complementary road at the end of 2011 and increasing vehicle

ownership in Guangdong province.

New123      ( Date: 31-Dec-2012 22:41) Posted:

Dividend Guidance

MIIF is reaffirming its dividend guidance of 2.75 cents per share for the six months to 31

December 2012 to be paid in early 2013.

MIIF ANNOUNCES FINANCIAL RESULTS

FOR THE NINE MONTHS ENDED 30 SEPTEMBER 2012

Key Highlights

• Net income of S$60.2 million up S$10.3 million on prior year

•

previous quarter driven by adverse foreign exchange movementsNet Asset Value of S$813.2 million or S$0.70 per share, down S$0.01 per share on

•

of the toll revisions at Hua Nan Expressway will continueRobust operational performance across the portfolio, however the adverse impact

•

independent financial adviserStrategic review undertaken by the Board and CIMB Bank Berhad appointed as its

•

Mr Frank Kwok, Executive Director of MIIF said: “Overall, the operational performance

of our investments remained robust with Taiwan Broadband Communications and

Changshu Xinghua Port performing strongly. Taiwan Broadband Communications had

strong demand for its digital TV and broadband products, while Changshu Xinghua Port

continues to benefit from product diversification.

“Hua Nan Expressway will continue to be impacted by the tolling revisions which came

into effect on 1 June 2012. In addition, the Chinese government has introduced a new

directive which allows passenger vehicles to travel for free on all toll roads in China

during four designated public holidays. The impact of these two on-going adverse

operational factors has been reflected in Hua Nan Expressway’s valuation.”

It is anticipated that TBC will see continued subscriber growth across all of its

businesses, with particularly strong growth in digital up-take.

CXP is anticipated to continue to perform steadily in 2012, with growing paper and pulp

and log volumes.

HNE is expected to benefit from favourable traffic drivers including the opening of

Guanghe Expressway, a complementary road at the end of 2011 and increasing vehicle

ownership in Guangdong province.Suspension of share buy-back programme due to the strategic review process
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New123
Elite
31-Dec-2012 22:41     
 
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Dividend Guidance

MIIF is reaffirming its dividend guidance of 2.75 cents per share for the six months to 31

December 2012 to be paid in early 2013.

MIIF ANNOUNCES FINANCIAL RESULTS

FOR THE NINE MONTHS ENDED 30 SEPTEMBER 2012

Key Highlights

• Net income of S$60.2 million up S$10.3 million on prior year

•

previous quarter driven by adverse foreign exchange movementsNet Asset Value of S$813.2 million or S$0.70 per share, down S$0.01 per share on

•

of the toll revisions at Hua Nan Expressway will continueRobust operational performance across the portfolio, however the adverse impact

•

independent financial adviserStrategic review undertaken by the Board and CIMB Bank Berhad appointed as its

•

Mr Frank Kwok, Executive Director of MIIF said: “Overall, the operational performance

of our investments remained robust with Taiwan Broadband Communications and

Changshu Xinghua Port performing strongly. Taiwan Broadband Communications had

strong demand for its digital TV and broadband products, while Changshu Xinghua Port

continues to benefit from product diversification.

“Hua Nan Expressway will continue to be impacted by the tolling revisions which came

into effect on 1 June 2012. In addition, the Chinese government has introduced a new

directive which allows passenger vehicles to travel for free on all toll roads in China

during four designated public holidays. The impact of these two on-going adverse

operational factors has been reflected in Hua Nan Expressway’s valuation.”

It is anticipated that TBC will see continued subscriber growth across all of its

businesses, with particularly strong growth in digital up-take.

CXP is anticipated to continue to perform steadily in 2012, with growing paper and pulp

and log volumes.

HNE is expected to benefit from favourable traffic drivers including the opening of

Guanghe Expressway, a complementary road at the end of 2011 and increasing vehicle

ownership in Guangdong province.Suspension of share buy-back programme due to the strategic review process

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Hunter2011
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31-Dec-2012 21:31     
 
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  this blog posted earning  detail  of MIIF

http://www.investmentmoats.com/money-management/dividend-investing/macquarie-international-infrastructure-fund-miif-q3-2011-and-9-month-results-8-yield-locked-in/  
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Hunter2011
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31-Dec-2012 19:31     
 
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The report stated net cash. (NET CASH = Cash - Payable - outstanding loan)

If one happen to look into MIIF report in detail and will find “Distribution Policies” most of the income recognized in Q3.(except TBC, distribute income in Mar and Sep). Hence Q4 will be much lower.

The above can further clarify with Q42011,Q12012 & Q22012 result. 

Page 24 of 48


 

cheongsl      ( Date: 31-Dec-2012 07:30) Posted:



10million of CIMBfees and final quater managemnt fees need to be deducted from Cash balance? The management fees is always shown in the expense coloumn. For the 4th quarter will be expecting another 2millions, you mean MIIF pay CIMB for the strategy review with 8million, that is a very very overpay, I believe corruption bureau need to get involve with the top management and director if this is true, where did you get your information from?

3rd quater net income after deducting the expense, tax etc. is 28.3million, with the 1155 million share it is around 2.45cts per share. If 4th quarter maintain the same, then the half yearly earning per share will be 4.9cts. With the 2.75cts divident, the percentage of payment is only 56%, which is very much lower then the REITS requirement of 90%. And the current divident payout based on share price, this counter is very much better then all the REITS out there.

Where did the 47million cash balance come from? Cash balance according to 3rd quater presentation is 59.9million, and further increase to 75.8million after receiving the TBC payout.

Hunter2011      ( Date: 29-Dec-2012 11:06) Posted:



MIIF dividend will drop sharply or be suspended until there is clarity over the sale process ??

Macquarie Research : “MRE valuation is ~$0.66 for the assets.
  MIIF at year end should have a net cash balance of S$47m post dividend, CIMB fees and final quarter management fees. Working capital of ~S$10m will be required, which leaves S$37m available to be distributed. This suggests a special dividend of $0.32 in February. Thereafter we expect the dividend will drop sharply or be suspended until there is clarity over the sale   process. With income skewed to 2H, at the very least the 1H/13 dividend will drop to $0.015-0.02ps.”

(Source: MIIF: Pulling stumps )

 

 


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cheongsl
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31-Dec-2012 07:30     
 
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10million of CIMBfees and final quater managemnt fees need to be deducted from Cash balance? The management fees is always shown in the expense coloumn. For the 4th quarter will be expecting another 2millions, you mean MIIF pay CIMB for the strategy review with 8million, that is a very very overpay, I believe corruption bureau need to get involve with the top management and director if this is true, where did you get your information from?

3rd quater net income after deducting the expense, tax etc. is 28.3million, with the 1155 million share it is around 2.45cts per share. If 4th quarter maintain the same, then the half yearly earning per share will be 4.9cts. With the 2.75cts divident, the percentage of payment is only 56%, which is very much lower then the REITS requirement of 90%. And the current divident payout based on share price, this counter is very much better then all the REITS out there.

Where did the 47million cash balance come from? Cash balance according to 3rd quater presentation is 59.9million, and further increase to 75.8million after receiving the TBC payout.

Hunter2011      ( Date: 29-Dec-2012 11:06) Posted:



MIIF dividend will drop sharply or be suspended until there is clarity over the sale process ??

Macquarie Research : “MRE valuation is ~$0.66 for the assets.
  MIIF at year end should have a net cash balance of S$47m post dividend, CIMB fees and final quarter management fees. Working capital of ~S$10m will be required, which leaves S$37m available to be distributed. This suggests a special dividend of $0.32 in February. Thereafter we expect the dividend will drop sharply or be suspended until there is clarity over the sale   process. With income skewed to 2H, at the very least the 1H/13 dividend will drop to $0.015-0.02ps.”

(Source: MIIF: Pulling stumps )

 

 

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james87
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30-Dec-2012 12:33     
 
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 Alert Admin 		3 cents = 0.03 SGD ...not 30 cents = 0.30. So 1 lot = $30 

New123      ( Date: 30-Dec-2012 12:03) Posted:

Yup !3.2 cents of special dividend is around there . Or slightly more about 4 cents . + 2.75cents yr end dividend total about 6 cents . I am vested .

Hunter2011      ( Date: 30-Dec-2012 08:27) Posted:



No idea and not sure.. got it from there.. think should be 3c.. “DBSV..: In the near term though, investors can look forward to a special dividend of about 3.0Scts from the payout of existing excess cash reserves, in addition to the 2.75Scts final dividend for 2H-FY12. This should lend support to the share price.” (Source: MIIF : Winding down is the best option (DBSV))
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New123
Elite
30-Dec-2012 12:03     
 
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 Alert Admin 		Yup !3.2 cents of special dividend is around there . Or slightly more about 4 cents . + 2.75cents yr end dividend total about 6 cents . I am vested .

Hunter2011      ( Date: 30-Dec-2012 08:27) Posted:



No idea and not sure.. got it from there.. think should be 3c.. “DBSV..: In the near term though, investors can look forward to a special dividend of about 3.0Scts from the payout of existing excess cash reserves, in addition to the 2.75Scts final dividend for 2H-FY12. This should lend support to the share price.” (Source: MIIF : Winding down is the best option (DBSV))

New123      ( Date: 29-Dec-2012 15:03) Posted:

special dividend of 0.32 = $320 per lot. are u sure


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Hunter2011
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30-Dec-2012 08:27     
 
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No idea and not sure.. got it from there.. think should be 3c.. “DBSV..: In the near term though, investors can look forward to a special dividend of about 3.0Scts from the payout of existing excess cash reserves, in addition to the 2.75Scts final dividend for 2H-FY12. This should lend support to the share price.” (Source: MIIF : Winding down is the best option (DBSV))

New123      ( Date: 29-Dec-2012 15:03) Posted:

special dividend of 0.32 = $320 per lot. are u sure ?

Hunter2011      ( Date: 29-Dec-2012 11:06) Posted:



MIIF dividend will drop sharply or be suspended until there is clarity over the sale process ??

Macquarie Research : “MRE valuation is ~$0.66 for the assets.
  MIIF at year end should have a net cash balance of S$47m post dividend, CIMB fees and final quarter management fees. Working capital of ~S$10m will be required, which leaves S$37m available to be distributed. This suggests a special dividend of $0.32 in February. Thereafter we expect the dividend will drop sharply or be suspended until there is clarity over the sale   process. With income skewed to 2H, at the very least the 1H/13 dividend will drop to $0.015-0.02ps.”

(Source: MIIF: Pulling stumps )

 

 


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twelfth
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29-Dec-2012 15:41     
 
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I am a beginner 

  Shares Outstanding (Mil.): 1,152.60
  " S$37m available to be distributed"

Translated into $0.032 
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New123
Elite
29-Dec-2012 15:03     
 
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 Alert Admin 		special dividend of 0.32 = $320 per lot. are u sure ?

Hunter2011      ( Date: 29-Dec-2012 11:06) Posted:



MIIF dividend will drop sharply or be suspended until there is clarity over the sale process ??

Macquarie Research : “MRE valuation is ~$0.66 for the assets.
  MIIF at year end should have a net cash balance of S$47m post dividend, CIMB fees and final quarter management fees. Working capital of ~S$10m will be required, which leaves S$37m available to be distributed. This suggests a special dividend of $0.32 in February. Thereafter we expect the dividend will drop sharply or be suspended until there is clarity over the sale   process. With income skewed to 2H, at the very least the 1H/13 dividend will drop to $0.015-0.02ps.”

(Source: MIIF: Pulling stumps )

 

 

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Hunter2011
Member
29-Dec-2012 11:06     
 
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MIIF dividend will drop sharply or be suspended until there is clarity over the sale process ??

Macquarie Research : “MRE valuation is ~$0.66 for the assets.
  MIIF at year end should have a net cash balance of S$47m post dividend, CIMB fees and final quarter management fees. Working capital of ~S$10m will be required, which leaves S$37m available to be distributed. This suggests a special dividend of $0.32 in February. Thereafter we expect the dividend will drop sharply or be suspended until there is clarity over the sale   process. With income skewed to 2H, at the very least the 1H/13 dividend will drop to $0.015-0.02ps.”

(Source: MIIF: Pulling stumps )

 

 
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New123
Elite
28-Dec-2012 12:08     
 
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 Alert Admin 		soon we will be hearing from them in regards to the special dividends to be  announced in Jan or  early Feb..Gd luck to those vested! 
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