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19-11-2014, 05:42 PM
MIIF is owned by Mac Bank, oneof the world's top investment banker... MIIF is already in the wilderness given the delisting of sister listed funds after the GFC.
CIMB's appointment in that case is simply a "rubber stamp" IMHO. Mac Bank has already exhausted all avenues for MIIF. Whatever could have been sold have been unwind.
Whatever that can't be is simply sitting there... v simple...
U want to have a classic soap opera also need director, cast and plot mah...
Don't think too much... NF is simply biting time going thru motions to tighen its grip until such time...
I don't like companies that assume "control" via substantial stakes - aka Msian style... lack sincerity...
Gd stuff usually disappear without much options for minorities...
Time will tell...
GG
CIMB's appointment in that case is simply a "rubber stamp" IMHO. Mac Bank has already exhausted all avenues for MIIF. Whatever could have been sold have been unwind.
Whatever that can't be is simply sitting there... v simple...
U want to have a classic soap opera also need director, cast and plot mah...
Don't think too much... NF is simply biting time going thru motions to tighen its grip until such time...
I don't like companies that assume "control" via substantial stakes - aka Msian style... lack sincerity...
Gd stuff usually disappear without much options for minorities...
Time will tell...
GG
(12-11-2014, 02:13 PM)Boon Wrote:(12-11-2014, 09:07 AM)Boon Wrote: APPOINTMENT OF INDEPENDENT FINANCIAL ADVISER
The Board wishes to inform the unitholders of Forterra (Unitholders) that it has on 11 November 2014 appointed CIMB Bank Berhad, Singapore Branch as the independent financial adviser (IFA) to advise the directors of the Trustee-Manager who are considered independent for the purposes of the Offer (Independent Directors)....
http://infopub.sgx.com/FileOpen/Appointm...eID=324002
(vested)
This is very interesting - CIMB was the IFA that played a key role in the strategic review process of MIIF which ultimately gone down the path of voluntary liquidation / asset divestments.
(vested)
________________________________________________________________________________________________________________
Macquarie International Infrastructure Fund Limited (MIIF)
OUTCOME OF STRATEGIC REVIEW
Initiatives focused on maximising and returning value to MIIF shareholders
Singapore, 18 December 2012 – The Board of Macquarie International Infrastructure Fund Limited (MIIF) today announced the completion of the Strategic Review which was initiated in June 2012.
The Strategic Review, which included an assessment by CIMB Bank Berhad, Singapore Branch (CIMB) and consultation with a cross section of shareholders, generated the following key observations:
• MIIF’s current share price does not adequately reflect the value of MIIF’s infrastructure businesses;
• MIIF’s current structure may not be the most appropriate structure to reflect the value of its businesses;
• Taiwan Broadband Communications (TBC)........
.
After considering the above observations and assessing the alternatives available to MIIF, the Board has concluded that in order to maximise value for MIIF’s shareholders the strategy for MIIF should change.
As a result, the Board has decided to undertake the following initiatives:
• Distribute existing excess cash to shareholders as a one-off special dividend;
• Commence a joint process with Macquarie Korea Opportunities Fund (MKOF), MIIF’s TBC co-shareholder, to realise maximum value for their investment in TBC;
• Pursue the orderly divestments of MIIF’s interests in HNE, CXP and Miaoli Wind;
• Distribute the proceeds from any divestment to shareholders as soon as practicable; and
• Allow MIIF’s corporate-level debt facility to lapse upon maturity.
http://infopub.sgx.com/FileOpen/MIIFOutc...leID=58376
http://infopub.sgx.com/FileOpen/MIIFIFAA...leID=77960