Buy @ $2.78. Add to my collection, don't know when it'll stop dropping. 😀
MIIF @ $0.585
SPAusNet @ $1.23
Sell @ $1.23. Decided to take profit even though it's lower than ASX price (A$0.95 @ 1.3212 = S$1.255) as it gets closer to xd (30-May-11) as per original intention. I'm left with my $1.28 ones. STI -59 @ 3108 but SPAusNet is unaffected as it's +2ct.
I'll likely be getting more KGT / MIIF which will be having their mid-year on end-June (results likely only in mid-July to B-Aug). Same game plan as SPAusNet, ie. to sell the bulk of it before xd if there're any profits (to hold for dividend otherwise). 😀
HLFin @ $2.7875
SPAusNet @ $1.21
Sell @ $1.21. Prices had slowly moved up as it approaches xd date and also due to the strengthening of A$. Take some profit first and will likely sell down most of my stake before it goes xd if prices remain steady. Buyer CP '71' – Nomura. 😀
5:05pm
Sell @ $1.22. I keyed in to sell @ $1.21 during 5pm matching and was done at $1.22. Same buyer CP '71' – Nomura. 😀
HLFin @ $2.81
Hyflux 6% CPS @ $105.30
MIIF @ $0.585
Buy @ $0.585. Add to my collection. Seller CP '28' – OCBC. 😀
| Time | Price | Trade size | Type |
| 14:30:27 | 0.585 | 1,000 | Buy Up |
| 14:26:44 | 0.585 | 8,000 | Buy Up |
| 14:23:48 | 0.585 | 30,000 | Buy Up |
| 14:23:23 | 0.585 | 23,000 | Buy Up |
| 14:23:23 | 0.580 | 1,093,000 | Sell Down |
| 14:20:33 | 0.585 | 20,000 | Buy Up |
| 14:20:33 | 0.585 | 614,000 | Sell Down |
| 14:17:59 | 0.590 | 1,000 | Buy Up |
| 14:15:26 | 0.590 | 1,000 | Buy Up |
Q111 results were out this AM. No dividend payout as they have a semi-annual payout policy. They re-affirmed their plan to increase DPU to 2.75ct for 1H11, which translates to Annualised Yield = 9.402%.
MIIF currently holds 3 main assets, CXP (ChangShu XingHua Port) and HNE (Hua Nan Expressway) both in China and in Taiwan, TBC (Taiwan Broadband Communication). A smaller loss-making asset in Taiwan is Miaoli Wind (almost written down to zero book value).
HNE operates a toll bridge in Guangzhou and its earnings was lower due to competition from a toll-free (recently detolled) bridge and new directives from the government that vehicles carrying fresh produce will not have to pay toll. One report I read from Macquarie projects that the 5.5ct / yr dividend will not be sustainable because of this. MIIF is however optimistic that toll collection will increase again over time due to the opening of new expressways.
Current Cash level is $288.5M but will be further reduced to $141.9M in May when they subscribe for new TBC shares. The excess cash is planned for share buy-back as they are unable to identify any good assets for acquisition. Debt level is $79.2M. NAV $0.82.
HLFin @ $2.83
Buy @ $2.83. Went xd on 29-Apr-11 for 8ct dividend and has since dropped more than 8ct. Latest Q111 results on 21-Apr-11 shows EPS improving slightly over the last quarter. NAV has further increased to $3.58. Market is weak today (eve of Polling Day), and for the past couple of days. STI -12 @ 3097. Add to my collection. Seller CP '25' – Daiwa. 😉