All in a day's work

Buying into MIIF is buying into fund more than a business. The primary reason for my inital purchase is for Div play at around 10% p.a.

A glance over the 1H2008 report, this is what I've gathered.

1. MIIF disposed off 4 Assets (namely DUET, MAP, MCG and MIC) that generate Distribution Income, Brussels Airport and TanQuid which contribute a inflow of $35 m in the same period last year.

I've asked the management on this issue and what I've been replied is that MIIF is focusing it's assets into the higher growth Asia region and thus acquired InfraVest, HNE and TBC. As stated, the current drop in revenue should not be of a major concern as yet, as the management states that payment from it's new acquistions are in arrears, which should be reflected in the 2H2008 report. We'll see.

2. SDS scheme that is available will dilute the current shareholders' holdings, but the management has replied that not everyone will take up the scheme and should not affect a great deal, but still 'll continue to remain cautious in this aspect in the long term.

3. By declaring a div of 4.25cents for 1H2008, 'm a satisfied man. Within my expectations.

So far, 'm quite alright with the long term prospects of this counter.