Aberdeen Asian Income (AAIF)

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Company name:	Aberdeen Asian Income Fund Ltd
Company Description:	An investment company investing in cos listed on stock exchanges in the Asia Pacific region; Asian Pacific securities and cos which are listed on other international stock exchanges; & government debt
EPIC:	AAIF	Trading Currency:	GBX
Market Sector:	SSC5	ISIN:	GB00B0P6J834
Market Segment:	SSMM	Share Type:	DE
WWW Address:	http://www.asian-income.co.uk/	Description:	ORD NPV
Industry Sector:	EQUITY INVESTMENT INSTRUMENTS

Price	Price Change [%]	Bid	Offer	Open	High	Low	Volume
226.00	2.0 [0.89]	224.00	231.00	226.00	226.00	226.00	19,108
Market Cap. [m]	Shares In Issue [m]	Beta	EPS	DPS	PE Ratio	Yield	52-Wks-Range
404.40	178.94	0.04	7.41	9.30	30.50	4.12	243.00 - 210.00

Aberdeen Asian Income Key Figures

(at previous day's close)
Market Cap.	404.40	m
Shares In Issue	178.94	m
Prev. Close	224.00
PE Ratio	30.50
Dividend Yield	4.12	%
EPS - basic	7.41	p
Dividend PS	9.30	p
Dividend Cover	0.80
Cash Flow PS	6.10	p
Return On Equity (ROE)	3.03	%
Operating Margin	86.00	%
PEG Factor	-1.43
EPS Growth Rate	-21.34	%
Dividends PS Growth Rate	0.54	%
Net Debt	32.77	m
Gross Gearing	8.28	%
Quick Assets	7.60	m
Net Working Capital	-30.65	m
Intangibles / Fixed Assets	-	%
Turnover PS	9.47	p
Pre-Tax Profit PS	8.14	p
Retained Profit PS	-1.83	p
Cash PS	3.45	p
Net Cash PS	-17.92	p
Net Tangible Asset Value PS *	241.13	p
Net Asset Value PS	241.13	p
Spread	7.00 (3.03%)
* Calculation based on Ordinary Capital figure as contained in last annual report, and the most recent shares in issue figure. Therefore the ratio might be exposed to inaccuracies.

Aberdeen Asian Income Balance Sheet

Share Price Performance

Sample Period ^†	High	Low
1 week	234.00	224.00
4 weeks	234.00	223.00
12 weeks	234.00	218.00
1 year	243.00	210.00

Share Price Chart (5 years)

Aberdeen Asian Income Historic Returns

Period ^†	Open	Change	%	Open Avg.	Avg. Daily Vol [m]	Total Vol [m]	VWAP
1 week	232.00	-6.00	-2.59	224.00	0.16		230.45
4 weeks	224.00	2.00	0.89	223.00	0.35		228.65
12 weeks	231.00	-5.00	-2.16	218.00	0.29		226.51
26 weeks	226.00	-	-	218.00	0.28		227.22
1 year	213.00	13.00	6.10	210.00	0.26		226.98
3 years	198.50	27.50	13.85	141.50	0.27		205.76
5 years	195.50	30.50	15.60	141.50	0.25		206.81
† periods calculated are whole weeks rather than calendar months

Aberdeen Asian Income Key Management Ratios

Aberdeen Asian Income Investment Ratios

(Market value analysis) at previous day's close
PQ Ratio	3.07
PE Ratio	30.50
Tobin's Q Ratio	0.89
Tobin's Q Ratio (excl. intangibles)	0.89
Dividend Yield	4.12	%
Market-to-Book Ratio	0.94
Price-to-Pre-Tax Profit PS	27.76
Price-to-Retained Profit PS	-123.82
Price-to-Cash Flow PS	37.06
Price-to-Sales PS	23.87
Price-to-Net Tangible Asset Value PS	0.94
Price-to-Cash PS	65.47
Net Working Capital PS	-17.13
Price Pct to Working Capital PS	-13.19	%
Earnings Yield	3.28	%
Average PE	23.76
Years in average	5
PE to PE average	128.37	%

Aberdeen Asian Income Financial Ratios

(Leverage Ratios)
Debt Ratio	0.16	%
Debt-to-Equity Ratio	0.00
Debt-to-Equity Ratio (excl. Intgbl)	0.00
Debt-to-Equity Market Value	0.00
Net Gearing	6.97	%
Net Gearing (excl. Intangibles)	6.97	%
Gross Gearing	8.28	%
Gross Gearing (excl. Intangibles)	8.28	%
Gearing Under 1 Year	8.13	%
Gearing Under 1 Year (excl. Intgbl)	8.13	%
Assets/Equity	1.09
Cash/Equity	1.43
(Liquidity Ratios)
Net Working Capital to Total Assets	-6.52	%
Current Ratio	0.20
Quick Ratio (Acid Test)	0.20
Liquidity Ratio	0.16
Cash & Equiv/Current Assets	81.29	%
(Solvency Ratios)
Enterprise Value	398.92	m
CFO/Sales	0.64
CFO/Attributable Profit	0.83
CFO/Assets	0.02
CFO/Debt	0.28
Total Debt/Equity Market Value	0.10
Total Debt/Sales	2.30
Total Debt/Pre-Tax Profit	2.67
Total Debt	38.95	m
Total Debt/Net Current Assets	-1.27	%
(Dodds - Graham Ratios)
3 yr Compound Earnings Growth	-	%
5 yr Compound Earnings Growth	-	%
10 yr Compound Earnings Growth	-	%
Earn drops > 5% in 10yrs	4

Beta (60-Mnth)	Beta (36-Mnth)
0.0387	0.0470

Aberdeen Asian Income Operating Ratios

(Profitability Ratios)
Return On Capital Employed (ROCE)	3.37	%
Return On Assets (ROA)	2.87	%
Net Profit Margin	77.25	%
Assets Turnover	0.04
Return On Equity (ROE)	3.03	%
Return On Investment (ROI)	3.10	%
Dividend Payout Ratio	125.51	%
Plowback Ratio	-25.51	%
Growth from Plowback Ratio	-0.80	%
Net Income Of Revenues	-19.28	%
(Asset Utilisation Multiples)
Shareholders Equity Turnover	0.04
Fixed Assets Turnover	0.04
Current Assets Turnover	2.68
Net Working Capital Turnover
Inventory Turnover	-
(Other Operating Ratios)
Total Assets-to-Sales	26.90
Debtors-to-Sales	8.82	%
Debt Collection Period	32.21	Days

Aberdeen Asian Income Dividends

Announcement Date	Type	Curr.	Dividend Amount	Period Start	Period End	Ex Date	Record Date	Payment Date	Total Dividend Amount
12 Oct 2021	Interim	GBX	2.25	31/12/2020	31/12/2021	21/10/2021	22/10/2021	18/11/2021	-
21 Jul 2021	Interim	GBX	2.25	31/12/2020	31/12/2021	29/07/2021	30/07/2021	20/08/2021	-
08 Apr 2021	Interim	GBX	2.25	31/12/2020	31/12/2021	22/04/2021	23/04/2021	21/05/2021	-
14 Jan 2021	Interim	GBX	2.55	31/12/2019	31/12/2020	21/01/2021	22/01/2021	17/02/2021	9.30
13 Oct 2020	Interim	GBX	2.25	31/12/2019	31/12/2020	22/10/2020	23/10/2020	18/11/2020	-
22 Jul 2020	Interim	GBX	2.25	31/12/2019	31/12/2020	30/07/2020	31/07/2020	21/08/2020	-
09 Apr 2020	Interim	GBX	2.25	31/12/2019	31/12/2020	23/04/2020	24/04/2020	22/05/2020	-
14 Jan 2020	Interim	GBX	2.50	31/12/2018	31/12/2019	23/01/2020	24/01/2020	20/02/2020	9.25
16 Oct 2019	Interim	GBX	2.25	31/12/2018	31/12/2019	24/10/2019	25/10/2019	15/11/2019	-
10 Jul 2019	Interim	GBX	2.25	31/12/2018	31/12/2019	18/07/2019	19/07/2019	16/08/2019	-
11 Apr 2019	Interim	GBX	2.25	31/12/2018	31/12/2019	25/04/2019	26/04/2019	24/05/2019	-
10 Jan 2019	Final	GBX	2.40	31/12/2017	31/12/2018	17/01/2019	18/01/2019	20/02/2019	9.15
17 Oct 2018	Interim	GBX	2.25	31/12/2017	31/12/2018	25/10/2018	26/10/2018	16/11/2018	-
12 Jul 2018	Interim	GBX	2.25	31/12/2017	31/12/2018	19/07/2018	20/07/2018	17/08/2018	-
12 Apr 2018	Interim	GBX	2.25	31/12/2017	31/12/2018	26/04/2018	27/04/2018	25/05/2018	-
11 Jan 2018	Final	GBX	2.25	31/12/2016	31/12/2017	18/01/2018	19/01/2018	20/02/2018	9.00
10 Oct 2017	Interim	GBX	2.25	31/12/2016	31/12/2017	19/10/2017	20/10/2017	17/11/2017	-
14 Aug 2017	Interim	GBX	2.25	31/12/2016	31/12/2017	20/07/2017	21/07/2017	18/08/2017	-
13 Apr 2017	Interim	GBX	2.25	31/12/2016	31/12/2017	27/04/2017	28/04/2017	26/05/2017	-
12 Jan 2017	Final	GBX	2.75	31/12/2015	31/12/2016	19/01/2017	20/01/2017	20/02/2017	8.75
11 Oct 2016	Interim	GBX	2.00	31/12/2015	31/12/2016	20/10/2016	21/10/2016	17/11/2016	-
12 Jul 2016	Interim	GBX	2.00	31/12/2015	31/12/2016	21/07/2016	22/07/2016	21/08/2016	-
14 Apr 2016	Interim	GBX	2.00	31/12/2015	31/12/2016	21/04/2016	22/04/2016	23/05/2016	-
14 Jan 2016	Final	GBX	2.50	31/12/2014	31/12/2015	21/01/2016	22/01/2016	18/02/2016	8.50
13 Oct 2015	Interim	GBX	2.00	31/12/2014	31/12/2015	22/10/2015	23/10/2015	17/11/2015	-
09 Jul 2015	Interim	GBX	2.00	31/12/2014	31/12/2015	16/07/2015	17/07/2015	21/08/2015	-
16 Apr 2015	Interim	GBX	2.00	31/12/2014	31/12/2015	30/04/2015	01/05/2015	22/05/2015	-
15 Jan 2015	Final	GBX	2.60	31/12/2013	31/12/2014	22/01/2015	23/01/2015	18/02/2015	8.00
14 Oct 2014	Interim	GBX	1.80	31/12/2013	31/12/2014	23/10/2014	24/10/2014	17/11/2014	-
08 Jul 2014	Interim	GBX	1.80	31/12/2013	31/12/2014	16/07/2014	18/07/2014	22/08/2014	-
17 Apr 2014	Interim	GBX	1.80	31/12/2013	31/12/2014	30/04/2014	02/05/2014	16/05/2014	-
09 Jan 2014	Final	GBX	2.50	31/12/2012	31/12/2013	15/01/2014	17/01/2014	18/02/2014	7.90
15 Oct 2013	Interim	GBX	1.80	31/12/2012	31/12/2013	23/10/2013	25/10/2013	15/11/2013	-
09 Jul 2013	Interim	GBX	1.80	31/12/2012	31/12/2013	17/07/2013	19/07/2013	23/08/2013	-
18 Apr 2013	Interim	GBX	1.80	31/12/2012	31/12/2013	24/04/2013	26/04/2013	17/05/2013	-
10 Jan 2013	Final	GBX	2.50	31/12/2011	31/12/2012	16/01/2013	18/01/2013	18/02/2013	7.15
18 Oct 2012	Interim	GBX	1.55	31/12/2011	31/12/2012	24/10/2012	26/10/2012	16/11/2012	-
12 Jul 2012	Interim	GBX	1.55	31/12/2011	31/12/2012	18/07/2012	20/07/2012	24/08/2012	-
19 Apr 2012	Interim	GBX	1.55	31/12/2011	31/12/2012	27/04/2012	25/04/2012	18/05/2012	-
12 Jan 2012	Final	GBX	2.25	31/12/2010	31/12/2011	18/01/2012	20/01/2012	17/02/2012	6.75
18 Oct 2011	Interim	GBX	1.50	31/12/2010	31/12/2011	26/10/2011	28/10/2011	18/11/2011	-
14 Jul 2011	Interim	GBX	1.50	31/12/2010	31/12/2011	20/07/2011	22/07/2011	25/08/2011	-
19 Apr 2011	Interim	GBX	1.50	31/12/2010	31/12/2011	27/04/2011	03/05/2011	19/05/2011	-
13 Jan 2011	Final	GBX	2.25	31/12/2009	31/12/2010	19/01/2011	21/01/2011	18/02/2011	6.00
19 Oct 2010	Interim	GBX	1.25	31/12/2009	31/12/2010	27/10/2010	29/10/2010	19/11/2010	-
15 Jul 2010	Interim	GBX	1.25	31/12/2009	31/12/2010	21/07/2010	23/07/2010	15/08/2010	-
20 Apr 2010	Interim	GBX	1.25	31/12/2009	31/12/2010	28/04/2010	30/04/2010	19/05/2010	-
14 Jan 2010	Final	GBX	3.00	31/12/2008	31/12/2009	20/01/2010	22/01/2010	19/02/2010	5.00
16 Jul 2009	Interim	GBX	2.00	31/12/2008	31/12/2009	22/07/2009	24/07/2009	28/08/2009	-
15 Jan 2009	Final	GBX	2.75	31/12/2007	31/12/2008	21/01/2009	23/01/2009	20/02/2009	4.75
16 Jul 2008	Interim	GBX	2.00	31/12/2007	31/12/2008	23/07/2008	25/07/2008	28/08/2008	-
16 Jan 2008	Final	GBX	2.75	31/12/2006	31/12/2007	23/01/2008	05/01/2008	26/02/2008	4.75
17 Jul 2007	Interim	GBX	2.00	31/12/2006	31/12/2007	25/07/2007	27/07/2007	28/08/2007	-
22 Jan 2007	Final	GBX	2.50	31/12/2005	31/12/2006	31/01/2007	02/02/2007	21/02/2007	4.50
19 Jul 2006	Interim	GBX	2.00	31/12/2005	31/12/2006	26/07/2006	28/07/2006	18/08/2006	-

Aberdeen Asian Income Fundamentals

	31 Dec 2017 (GBP)		31 Dec 2018 (GBP)		31 Dec 2019 (GBP)		31 Dec 2020 (GBP)
turnover	21.76	100.00%	21.06	100.00%	21.00	100.00%	16.94	100.00%	m
pre tax profit	18.99	87.30%	18.29	86.85%	18.24	86.89%	14.57	86.00%	m
attributable profit	17.69	81.31%	16.76	79.61%	16.77	79.89%	13.09	77.25%	m
retained profit	0.11	0.51%	0.43	2.04%	0.47	2.25%	-3.27	-19.28%	m
eps - basic (p)	9.58		9.25		9.42		7.41
eps - diluted (p)	-		-		-		7.41
dividends per share	9.00		9.15		9.25		9.30

Aberdeen Asian Income Balance Sheet

	31 Dec 2017 (GBP)		31 Dec 2018 (GBP)		31 Dec 2019 (GBP)		31 Dec 2020 (GBP)


	31 Dec 2017 (GBP)		31 Dec 2018 (GBP)		31 Dec 2019 (GBP)		31 Dec 2020 (GBP)
ASSETS
fixed assets	-	-%	-	-%	-	-%	-	-%	m
intangibles	-	-%	-	-%	-	-%	-	-%	m
fixed investments	461.63	98.67%	416.17	98.63%	435.98	98.86%	462.82	98.38%	m
current assets - other	-	-%	-	-%	-	-%	-	-%	m
stocks	-	-%	-	-%	-	-%	-	-%	m
debtors	4.87	1.04%	2.18	0.52%	1.57	0.36%	1.42	0.30%	m
cash & securities	1.34	0.29%	3.62	0.86%	3.46	0.78%	6.18	1.31%	m

TOTAL	467.85	100%	421.97	100%	441.01	100%	470.42	100%	m

LIABILITIES
creditors - short	35.98	7.69%	2.84	0.67%	27.61	6.26%	38.25	8.13%	m
creditors - long	-	-%	36.93	8.75%	10.00	2.27%	0.69	0.15%	m
creditors - other	-	-%	-	-%	-	-%	-	-%	m
subordinated loans	-	-%	-	-%	-	-%	-	-%	m
insurance funds	-	-%	-	-%	-	-%	-	-%	m

TOTAL	35.98	7.69%	39.77	9.43%	37.61	8.53%	38.95	8.28%	m

EQUITY
ord cap, reserves	431.87	92.31%	382.20	90.57%	403.40	91.47%	431.48	91.72%	m
prefs, minorities	-	-%	-	-%	-	-%	-	-%	m

TOTAL	431.87	92.31%	382.20	90.57%	403.40	91.47%	431.48	91.72%	m

OTHER
NAV Basic	235.63		-		-		-
NAV Diluted	235.63		-		-		-

Aberdeen Asian Income Cash Flow Statement

	31 Dec 2017 (GBP)	31 Dec 2018 (GBP)	31 Dec 2019 (GBP)	31 Dec 2020 (GBP)
Operating CF	12.76	14.50	12.81	10.91	m
Pre-Financing CF	25.31	24.75	18.31	22.62	m
Retained CF	-0.21	-1.05	-0.16	2.76	m

Aberdeen Asian Income Brokers

Name	Activity	Type	Mnemonic	Code
Arbuthnot Securities Limited	Market Maker(MME)	Broker/Dealer	ARBT	ALESGB31MKT
J.P. Morgan Cazenove Limited	Market Maker(MME)	Broker/Dealer	CAZR	CAZEGB2L
Cenkos Securities Plc	Market Maker(MME)	Broker/Dealer	CNKS	CNKOGB21
Collins Stewart Europe Limited	Market Maker(MME)	Broker/Dealer	CSCS	CSTEGB21
Canaccord Genuity Limited	Market Maker(MME)	Broker/Dealer	CANA	HOARGB21001
HSBC Bank plc	Market Maker(MME)	Broker/Dealer	HSBC	JCAPGB2L
J.P. Morgan Securities Ltd	Market Maker(MME)	Broker/Dealer	JPMS	JPMSGB2L
Numis Securities Limited	Market Maker(MME)	Broker/Dealer	NUMS	RAZHGB2LBIC
UBS AG	Market Maker(MME)	Broker/Dealer	UBS.	UBSWGB2LEQU
Winterflood Securities Ltd	Market Maker(MME)	Broker/Dealer	WINS	WNTSGB2LBIC