re: tcl momentum - half year good
Zen, where have you been ? TCL works on a negative gearing principle. the depreciation on the roads is a tax write off but the cash income is given to investors, tax deferred = very tax effective. They ran out of toll roads in Oz, so have bought up US toll roads, hence the extra debt. The idea is never to show a +ve EPS, but their debt is managable and good compared to MIG. There are no management fees either. l bought in under $4 and also have TCSPA notes paying 7% + convertibility. Peak was over $8.50 and with 24.5c dist this is a great earner, attractive to those who dont use franking credits or want to defer tax. l have been buying under $7, but they have just jumped today.
PS No div date for EXL yet
TCL Price at posting:
0.0¢ Sentiment: None Disclosure: Held
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