With MIIF divesting TBC, unit holders will no longer be getting income distributions twice a year from the Fund in future.
This is because MIIF receives income from TBC in March and September while it receives income from HNE and CXP in September only.
MIIF will have a DPU of about 0.7c in August 2013 which is from the final income received from TBC. A DPU of about 1.2c will be paid out in March 2014 which will be for income received from HNE and CXP.
In future, we should expect only once a year distribution from MIIF for income received from HNE and CXP. Also, do not expect 1.2c to be the norm either as it is expected that the tolling revisions for HNE will adversely affect DPU for the full year starting in 2014.
What would be a fair value per unit for MIIF when it resumes trading?
In recent past, MIIF ......