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Business Description: Ethane Pipeline Income Fund (EPX) is engaged in an investment in the Moomba to Sydney Ethane Gas Pipeline infrastructure in Australia through its wholly owned subsidiary, Gorodok Pty Limited. EPX comprises two stapled trusts which are Ethane Pipeline Income Trust and Ethane Pipeline Income Financing Trust. The responsible entity of the fund is APA Ethane Limited.
Strategy Analysis: MIT's principal asset is Gorodok Pty Ltd which owns the Moomba to Sydney Ethane Gas Pipeline. Its source of revenue is from transporting ethane through the Pipeline under the PTA which continues until 2030. The revenue of the Pipeline business is generated pursuant to a Product Transportation Agreement (PTA) between the Pipeline Company and Qenos under which Qenos purchases Pipeline capacity for the transportation of ethane from the Moomba Facility to the Botany Plant. In 2008 Mariner Securities Limited (MSL) sold its remaining units together with the management rights to APA Group. Once ASIC approval is granted, APA Group will assume full Responsible Entity rights on managing the Fund.
The Age 19/06/2013 |
The bullish sentiments on the sharemarket earlier this year have been challenged by a correction that has taken the All Ordinaries Index down about 10 per cent from its May highs. Many investors are now asking how deep the current correction is likely to be.
The Age 19/06/2013 |
Done well, value investing is a successful, safe way to invest. The logic of the approach - buying an asset for less than its underlying value - is irrefutable.
The Age 19/06/2013 |
Snowballing debts and no means to repay them ... going bankrupt is the last-ditch option for those in a financial hole too deep to climb out from.
The Age 19/06/2013 |
One of the weapons an individual has over institutions is time, and with real value emerging at the micro-cap end of the market, smaller stocks are an area worth holding on to.
The Age 19/06/2013 |
Spending 10 days in Japan gives one a good overview of what they call "Abenomics" and its impact, and that includes also being here for one of the biggest drops on the Japanese market in weeks.
The Age 19/06/2013 |
Lend Lease has moved to allay investors' concerns with the issue of a formal profit guidance of between $540 million and $550 million for the full year, despite the weakness in the construction sector.
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