MIG portfolio valuation sees slight decline
Macquarie Infrastructure Group (MIG) completed a portfolio valuation as part of its restructuring proposal. The MIG directors’ portfolio valuation as at 31 December 2009 was $5.08 billion compared with $5.09 billion at 30 June 2009.
The company noted that the valuation excludes cash and non investment balances.
Of the $5.08 billion in assets, $3.8 billion is part of the Intoll Asset portfolio, which was up 4.3% from June 2009. Macquarie Atlas Road’s (MQA) assets were valued at $1.28 billion, down 11.7% from June 2009.
MIG said the major influence on the Intoll portfolio was the roll forward impact.
Meanwhile, the strengthening of the Australian dollar against MQA Portfolio currencies resulted in a decrease in the value of the MQA Portfolio of approximately 10%, with the remaining marginal decline reflecting other factors.
The group said the MQA Portfolio valuations would next be reviewed for the purposes of MQA’s financial statements for the period ended 30 June 2010.
On Friday, MIG securities were down around 2.5c to $1.22.
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