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Comprehensive analysis on listed toll roads, bridges and tunnels around the world
By Investment Moats  •  August 1, 2011


Comprehensive analysis on listed toll roads, bridges and tunnels around the world

Here is an article on Seeking Alpha that I would like to bring to your attention. Toll roads can  be classify as an infrastructure asset that acts like a 30 year bond like stream of income.

Basically the company uses equity or debt cash to pay for operating a concession for 30 years, using the cash flow to pay back the interest, maintenance and dividends to the share holders.

Typically debt levels are high.

This article by Clemens Scholl goes into:

  1. How toll roads comes about, the history of it
  2. Where are the publicly listed toll roads around the world
  3. Summary of the toll roads and their financial data
  4. Different characteristics of the companies

Have to say that out of all the tolls, Bangkok Expressway listed on the thailand stock exchange looks interested with a debt to asset of nearly 45% and dividend yield of 7.1%.

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By Investment Moats
Investment Moats is set up by Kyith Ng and have been around since 2005. He aims to share his experiences making sense of money, how money works and ways to grow his money. It hopes that by sharing his experiences, both good and bad, season investors can advice and critique his decisions and new investors can learn from them and find their own style ...
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