Buy @ $0.605. New addition to my portfolio. Seller CP '05' – UOBKH. 😀
Using latest DPU = 1.5ct for Dec-10 (Half Year), the Yield = 4.959% ; NTA = $0.76. But, they are currently proposing to use their Cash to buy additional (new) units of TBC (MIIF currently holds 40%) – Taiwan co. with business in Cable TV (main) + Broadband. This will allow TBC to restructure their debts repayment schedule (2013 – 2017) and allow more dividends to be paid out in the interim (2011 – 2013). MIIF is proposing to increase their semi-annual dividend payout to 2.5ct, which means a Yield = 9.091%. The impact of this acquisition is EPS = 4.94ct -> 5.52ct. So, actually even without this acquisition, MIIF can increase the current DPU of 1.5ct to at least 2.25ct!
The price had been well supported recently as MIIF had been doing daily buy-backs at $0.605 – $0.61. The risk is that price may drop drastically without this buy-back support.
| Time | Price | Trade size | Type |
| 16:30:16 | 0.605 | 50,000 | Sell Down |
| 16:30:06 | 0.605 | 200,000 | Sell Down |
| 16:29:44 | 0.605 | 300,000 | Sell Down |
| 16:27:32 | 0.605 | 15,000 | Sell Down |
| 15:30:41 | 0.605 | 200,000 | Sell Down |
| 15:15:19 | 0.605 | 1,180,000 | Sell Down |
| 14:55:53 | 0.605 | 20,000 | Sell Down |
| 09:45:41 | 0.605 | 77,000 | Buy Up |
| 09:33:16 | 0.605 | 223,000 | Sell Down |
| 09:25:21 | 0.605 | 50,000 | Sell Down |
| 09:24:42 | 0.605 | 350,000 | Sell Down |
| 09:18:53 | 0.610 | 17,000 | Buy Up |
| 09:18:51 | 0.605 | 150,000 | Sell Down |
| 09:18:50 | 0.605 | 705,000 | Sell Down |
| 08:59:01 | 0.610 | 21,000 | Buy Up |