CNP - Centro Properties Group

ricky0252003 · 18 March 2008

According to AFR, CNP was the most traded stock with 40.4mil shares changing hands worth 10mil.

Based on what you see and what ghost said, there seems to be new announcement released soon. I expected the announcement being made on Thur right before the market closes.

I've just got a reply from CNP investor centre to clarify the debt issue.

Dear Rick,

Thank you for your enquiry regarding Centro Properties Group (CNP).

According to our financial results for the half year ended December 2007, CNP has debt of $4.197 billion maturing 30 April 2008. The additional $1.217 billion is relating to Centro Retail Group’s (CER) maturing debt. Please note that these entities are separate.

If you have any further queries, please contact Investor Services on 1800 802 400 or email investor@centro.com.au.

Kind regards,

Angela on behalf of the Investor Services Team

You can compare this article with

MELBOURNE (Dow Jones)--Centro Properties Group (CNP.AU), an Australian property trust struggling to refinance about A$5.4 billion in maturing debt, Wednesday named Tony Clarke as its chief financial officer effective immediately.
Clarke, who has 29 years' finance and treasury experience, will oversee the company's treasury, tax and financial accounting functions, the firm said in a statement.
He had previously worked for auto parts maker Pacifica Group Ltd. and packaging company Amcor Ltd., Centro said.

-By Andrew Harrison, Dow Jones Newswires; 61-3-9671-4323; andrew.harrison@dowjones.com

(END) Dow Jones Newswires
March 12, 2008 02:14 ET (06:14 GMT)
Copyright (c) 2008 Dow Jones & Company, Inc.

The media is trying to create fear. According to AFR short-selling has reached history high.

vida · 18 March 2008

We dont' really know what centro have been doing but am certain they are working hard on it. I sold my stake in CNP this morning in a fit of pique, that is when I make the mistakes - when I let my emotions rule. I am buying back in the morning and hopefully won't be a sore loser this week. gosh

sonicwind said:
Regardless of the outcome of the battle over MCS16, i admire the efforts Pelorus has put in, Centro on the other hand has been rather disappointing...

ricky0252003 · 19 March 2008

Nasdaq opened high today. There's an expectation of .75% rates cut by US fed. The expectation has already been placed in the market. Hopefully it will recover investors' confidence for a bit

Aussie market is likely to open high if nothing destructive happened overnitght. CNP is likely to go to 0.29 tomorrow.

Sean K · 19 March 2008

ricky0252003 said:
Aussie market is likely to open high if nothing destructive happened overnitght. CNP is likely to go to 0.29 tomorrow.

It just absolutely beats me why people persist with placing arbitrary price targets for stocks at ANY time. Might as well just go down the casino and spin the wheel. Geeeshh!!

yang · 19 March 2008

kennas said:
It just absolutely beats me why people persist with placing arbitrary price targets for stocks at ANY time. Might as well just go down the casino and spin the wheel. Geeeshh!!

Every time he puts the kiss of death on cnp he seems to be right.... lets see if it goes both ways. ---> unless there is an announcement I see little reason for a rise

vida · 19 March 2008

I think it will rise today. I sold yesterday feeling fed up with it but its my fault for watching it every day. Then I bought back a 50% bigger holding this morning - its a smaller risk now and I have taken care of CGT issues for the year by selling at a loss yesterday so I think I have it all covered. I have a good positive feeling about CNP overall and hopefully great news next week

However I only have good feeling about it coming from buying in today but not if I had bought in last year and was still holding. I know there are many people like that and god help them, hopefully it wasn't their life's investment. For me this is just a fabulous break if it works out but if not I still have a job, my portfolio otherwise is doing ok considering the market and I have cash

yang said:
every time he puts the kiss of death on cnp he seems to be right.... lets see if it goes both ways. ---> unless there is an announcement I see little reason for a rise

ricky0252003 · 19 March 2008

kennas said:
It just absolutely beats me why people persist with placing arbitrary price targets for stocks at ANY time. Might as well just go down the casino and spin the wheel. Geeeshh!!

I assume that's the MRTA investment style? Wish u good luck in the casino. btw CNP did go up this morning. 0.275 at high

Julia · 19 March 2008

ricky0252003 said:
Some brokers are paying the media to write bad news and they can play short-selling behind the scene and make profit.

What evidence do you have of this?
If you are going to make statements like that you need to provide proven examples of what you are talking about.

ricky0252003 · 19 March 2008

From the CEO's letter. Seems CNP is unlikely to make a new announcement this week

The recapitalisation process is on track with a high degree of interest and ongoing support of
the lenders. Various datarooms are open with companies representing both local and offshore
interests granted access in order for them to undertake due diligence. Once formal bids are
received and evaluated, the Board will have the necessary information to determine the optimal
strategy in the best interests of all Centro stakeholders. I will provide you with a further update
on the process at that time.

Sean K · 19 March 2008

Julia said:
What evidence do you have of this?
If you are going to make statements like that you need to provide proven examples of what you are talking about.

Thanks for picking this up Julia.

Ricky do you have any proof of this incredible claim?

If not, then you can not post such things on ASF.

Cheers,
kennas

ricky0252003 · 19 March 2008

Julia said:
What evidence do you have of this?
If you are going to make statements like that you need to provide proven examples of what you are talking about.

Check the top of the page u see what I mean. The media said CNP has 5.4b debt. what the media did mean is that CNP and CER(even tho they are co-investing companies)have a combined debt of 5.4b. Don't u think it's a bit misleading? In regard to media being paid to write bad news, it's just suspicion under current circumstances.

btw, even if I know some "examples", I won't tell u for legal purposes. the reason ppl come here is to make money rather than taking a journalism lecture. This is not the States, and there's no freedom of speech. however u can be charged for defamation. U don't wanna get into court to find yourself some trouble even tho u've got the evidence.

yang · 19 March 2008

but isnt cer about as useful as a bull with t1ts if cnp goes belly up? so cer's debt may as well be cnp's? or am I completely wrong?

ricky0252003 · 19 March 2008

yang said:
but isnt cer about as useful as a bull with t1ts if cnp goes belly up? so cer's debt may as well be cnp's? or am I completely wrong?

According to our financial results for the half year ended December 2007, CNP has debt of $4.197 billion maturing 30 April 2008. The additional $1.217 billion is relating to Centro Retail Group’s (CER) maturing debt. Please note that these entities are separate.

According to ICAI, it is not possible. Otherwise, the only way to make CER's debt into CNP's debt is to make internal trasactions. Directors must act on the best interest of the company. Directors may breach their duties by doing so according to Corps ACT 2001.

ricky0252003 · 19 March 2008

kennas said:
Thanks for picking this up Julia.

Ricky do you have any proof of this incredible claim?

If not, then you can not post such things on ASF.

Cheers,
kennas

I love ur MRTA's style of comment "If not, then you can not post such things on ASF." Please understand some australian law at least.

The person who can sue for defamation are those who considers damage to their reputation has or is likely to occur, as a result of material published, may sue the publisher/s of the material. (http://www.efa.org.au/)

I can argue it is a fair comment. and I used the word "some" rather than a particular person.

Sean K · 19 March 2008

ricky0252003 said:
I love ur MRTA's style of comment "If not, then you can not post such things on ASF." Please understand some australian law at least.

The person who can sue for defamation are those who considers damage to their reputation has or is likely to occur, as a result of material published, may sue the publisher/s of the material. (http://www.efa.org.au/)

I can argue it is a fair comment. and I used the word "some" rather than a particular person.

Ricky your comment was the equivalent of posting a rumour IMO which is not permitted on ASF. It's got nothing to do with defamation, or whatever you're inferring.

See the policy here.

Thank you for your cooperation.

ricky0252003 · 19 March 2008

kennas said:
Ricky your comment was the equivalent of posting a rumour IMO which is not permitted on ASF. It's got nothing to do with defamation, or whatever you're inferring.

See the policy here.

Thank you for your cooperation.

How can u say it's rumor and how can you justify it since I declared that it's just my suspicion. It's called personal opinion in my situation therefore it doesn't have to be verified. You can take it seriously if you want otherwise you can take a look at it and have a laugh

btw price hit .29 at high, someone said "persist with placing arbitrary price targets for stocks at ANY time".

Sean K · 19 March 2008

ricky0252003 said:
How can u say it's rumor and how can you justify it since I declared that it's just my suspicion. It's called personal opinion in my situation therefore it doesn't have to be verified. You can take it seriously if you want otherwise you can take a look at it and have a laugh

btw price hit .29 at high

In regard to the price, it's irrelevant. Please don't post any random price targets without some reasonable FA, or TA.

On looking back at your post, what you have actually done is post a lie.

ricky0252003 said:
Some brokers are paying the media to write bad news and they can play short-selling behind the scene and make profit.

You only corrected yourself when it was picked up by Julia. Thank you for doing so, but please do not post such speculation without clarrifying at the time that it is just your opinion that brokers are bribing the media and breaking God knows what laws. Then we can have a decent laugh. Thank you.

Trojax · 19 March 2008

In Ricky's defence here by the same token then I say stop posting media articles that don't have verified sources or details backing up their commentary, it's just third party posting and akin to using someone elses name to make a claim that equally is unsubstantiated...

Case in point is the 2 articles out of Bloomberg from 2 different reporters, one basically saying everyone's out, the next saying some same name players are still in, how can that be seen as being acceptable...

Personally I take Ricky's post as an opinion, he has done some diligence such as contacting CNP etc, so that's making an effort. As to hitting an exact price, well yeah should at least have a one liner in there saying why with a bit of detail, though anyone buying off a forum hit price anyway would be a bit of duffer lol

Keep posting Ricky and DYR, unduly harsh getting called a liar for an opinion, but again, that's another persons opinion. LOL, love the irony of forum posting

Joe Blow · 19 March 2008

Trojax said:
In Ricky's defence here by the same token then I say stop posting media articles that don't have verified sources or details backing up their commentary, it's just third party posting and akin to using someone elses name to make a claim that equally is unsubstantiated...

Case in point is the 2 articles out of Bloomberg from 2 different reporters, one basically saying everyone's out, the next saying some same name players are still in, how can that be seen as being acceptable...

Personally I take Ricky's post as an opinion, he has done some diligence such as contacting CNP etc, so that's making an effort. As to hitting an exact price, well yeah should at least have a one liner in there saying why with a bit of detail, though anyone buying off a forum hit price anyway would be a bit of duffer lol

Keep posting Ricky and DYR, unduly harsh getting called a liar for an opinion, but again, that's another persons opinion. LOL, love the irony of forum posting

Trojax,

This statement:

ricky0252003 said:
Some brokers are paying the media to write bad news and they can play short-selling behind the scene and make profit.

is completely unacceptable on this forum unless Ricky is prepared to back it up with some evidence. It is not stated as an opinion, it is clearly stated as fact.

As for posting price targets, this forum has clear rules that price targets must be accompanied by analysis. Like it or not, those are the rules here and price targets posted without some kind of analysis will be removed.

Moderators are here to enforce forum rules and that is what Kennas has done in this instance. If you (or anyone else) would like to discuss it with him I am sure he would be happy to do so via PM.

Now lets get this thread back on topic.

ricky0252003 · 19 March 2008

Why should I give details on how I predicted the price? It's like being a lawyer, I can tell a client the likely outcome of a particular case, but if the client wants to seek for further legal advice, they have to pay. I am not saying I want to charge people or watever. I am just saying how I did the analysis is my business. Whether u take my opinion is your business.

Why there are so few ppl giving good suggestions? It's all becoz of u admin kids who deleted others message and accuse them as "liars"

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