09 Nov '11, 10pm

Macquarie International Infrastructure Fund (MIIF) Q3 2011 and 9 month results: 8% yield locked in

Macquarie International Infrastructure Fund (MIIF) Q3 2011 and 9 month results: 8% yield locked in

Taiwan Broadcasting Corp (TBC) will contribute SGD 47 mil – SGD 49 mil per year. This is from its 47% share in TBC. Based on the original 20% stake in TBC, in FY 2010, TBC have loan amortization, TBC paid out 13 mil. In FY 2008, TBC have no loan amortization, TBC paid out 18 mil. Going forward, we know that TBC will not be paying loan amortization and that cash flow have risen 10% since then. This works out to 18 x 47.5/20 x 110% = 47 mil. Hua Nan Expressway (HNE) will contribute SGD 20 mil per year. HNE have been struggling with a de-tolled expressway. Also in 2014 onwards, loan amortization will increase for HNE, any growth from 2014 onwards are likely to be eaten by the increase in loan amortization. Changshu Port (CXP) will contribute SGD 5 mil per year. Management Fees are estimated to come up to SGD 10 mil per year. Estimated Safe Dividend Potential: 47 + 20 + 5 – 10...

Full article: http://www.investmentmoats.com/money-management/dividend-...

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Drumbeat: November 9, 2011

theoildrum.com 09 Nov '11, 2pm

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csrwire.com 09 Nov '11, 2pm

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