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You are here: Macquarie International Infrastructure Fund (MIIF) > Investment portfolio > HNE |
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Toll Roads:
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| Investment | Description |
| Date of acquisition | 19 November 2007 |
| Cost of acquisition(1) | S$295.7 million |
| Valuation(2) | S$266.8 million |
| MIIF's ownership | 81% interest |
| % of MIIF portfolio | 23.4% |
(1) Originally announced acquisition of $329.5m included $295.7m invested at acquisition, and $33.8m to be drawn at a later date contingent upon certain events. This contingency is now no longer required and will not be drawn.
(2) Based on 30 June 2009 valuations.
HNE is a 31-kilometre dual-carriage urban toll road in the city of Guangzhou, the capital of Guangdong province in China. It is the main artery for north-south traffic in Guangzhou, enabling easy access to south China and is intersected by eight expressways and urban arteries, ensuring excellent connectivity.
| Financial highlights for the six months ended 30 June 2009 |
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| RMBm |
2009
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2008
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Variance Fav/(Adv)(1)
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|---|---|---|---|
| Revenue |
212.0
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226.4
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(6.4%)
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| EBITDA |
170.6
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182.8
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(6.7%)
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| EBITDA margin |
80.5%
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80.7%
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(0.2%)
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| Distributions to MIIF (S$m) |
-
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-
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-
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(1) Favourable/(Adverse)
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Investment portfolio
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