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Thanks Kopikat. Actually, I am not certain whether are they using FY 2011 base-line or are they actually predicting FY 2012 revenue. A potential upside would be the lower toll rates boost the traffic volume in 2H 2012 mitigating the fall in revenue. Of course, a Miaoli situation can occur if the cash-flow proves insufficient in servicing the ever increasing debt repayment.
MIIF repurchased 1.888 million shares today reducing share float to 1,172.8 million shares.
Personally, a share price < 50 cents will be attractive but it will be tough to compete with MIMAL share buy backs.
MIIF repurchased 1.888 million shares today reducing share float to 1,172.8 million shares.
Personally, a share price < 50 cents will be attractive but it will be tough to compete with MIMAL share buy backs.
Disclaimer: Please feel free to correct any error in my post. I am not liable for anything. Do your own research and analysis. I do NOT give buy or sell calls and stock tips. Buy and sell at your risk. I am not a qualified financial adviser so I do not give any advice. The postings reflects my own personal thoughts which may or may not be accurate.