MIIF

MIIF: Has agreed to sell its 100% interest in Miaoli Wind for cash NT$2.25m ($0.1m) to Challenger Emerging Market Infrastructure Fund. MIIF has valued Miaoli Wind at zero since FY09 bcs wind speeds have been significantly lower than forecasted at acquisition, thereby reducing the valuation of the business. Financial impact is expected to be negligible, compared to MIIF’s mkt cap of $196m. Nevertheless, the group continues to make positive progress in its stated strategy to dispose of assets and return capital to unit holders.