Draft Maquarie Infrastructure Group
comparative analysis of financial practises used by maquarie infrastructure group, including: debt reporting, stapled security dividends, financing of stapled security dividends out of financing cash flow, revaluation of assets via price-to-model technique
Quote:
"... Macquarie Macquarie(the “MQG”) bank model is widely discussed, debated and admired in the world financial markets. Macquarie bank has developed itself from small-scale Australian merchant bank into worldwide leader of infrastructure financing with assets and ambitions spanning the world from North America to Asia and beyond. In the heart of Macquarie model lies a “solar system” concept, where Macquarie bank acts a gravitational anchor for multiple infrastructure and asset management funds and companies that feed upstream income of management and performance fees to Macquarie bank as well as utilize Bank’s M&A services, generating additional income for parent organization.
One of the prime assets of MQG solar system is undoubtedly Macquarie Infrastructure Group (the “MIG”): the single largest fund in MQG universe and probably the largest traded investment vehicle that controls interest in various infrastructure projects.
The goal of this Financial Accounting Paper was to use balance sheet, income statement and cash flow analysis to look into the details of MIG performance over the past five years and predict, if possible, trends for MIG performance for the upcoming financial periods.
Analysis was made on the basis of available public information, including MIG Financial Reports filings with Australian stock exchange for the past % years, Financial Reports of ETR 407 International, Financiere Eiffare SAS APRP (France toll-road), Bloomberg financial analysis tools and newsfeeds as well as several recent investment bank reports on infrastructure industry..."
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