CNP - Centro Properties Group

[Nyden]

Cant agree more with you there But even if you chucked 1K at it.... nice christmas money thats for sure

Exactly! Could have gotten myself a nice new TV or the likes
Although, even with 1k - if I sold out at 70-80%, after CGT, wouldn't really have made all that much money.

Still though, prudence will eventually win the race

But, it's the same with any form of gambling really, always kick myself for not betting a couple of thou on a horse, as opposed to $100 :

 

[The Mint Man]

Exactly! Could have gotten myself a nice new TV or the likes
Although, even with 1k - if I sold out at 70-80%, after CGT, wouldn't really have made all that much money.

Still though, prudence will eventually win the race

But, it's the same with any form of gambling really, always kick myself for not betting a couple of thou on a horse, as opposed to $100 :

True, but its almost a given that shares like this bounce after a big fall, take BDG and Rams for example. Also CGT or not... still banking a profit and thats good news in my book

Cheers

 

[Lukas]

Is an ASIC investigation warranted? I have issues with their disclosure of debt in their annual reports.

 

[Wealth Wizard]

CNP has been a day trader dream the last few days with high volume and good swings. Its been on the down trend over the last few days, but the market have also closed lower over the last week so this might be misleading.

 

[eMark]

Does anyone see the stock gapping up tommorrow on open?.

The stock finished today well above it's close yesterday, even though it was down 30c from todays high.

 

[The Mint Man]

Is an ASIC investigation warranted? I have issues with their disclosure of debt in their annual reports.

Been there done that.
Probably not Lukas. Check out the BDG thread and go back to posts at around January this year... same sort of ASIC questions were being raised. And to add to it they, BDG, had only just raised $80 million through a share placement, imagine how those new BDG holders felt....

I take it your a Centro holder? if so I feel for ya. It is truly a horrible feeling, thats for sure.

Cheers

 

[Wealth Wizard]

Perhaps it may gap up on tomorrows open, after market action at high volume and to the upside +0.005, guess we wait and see.

 

[Go Nuke]

I think it may depend on how well the DOW does tonight.

The chart looks good in my opinion after some recent falls to place the DOW sitting pretty much right on its 200 day moving average.

I'd look for a rally possibly back up to 13400- 13500.

I threw a few dollars at CNP yesterday but am pretty nervous about when it will turn tail and head down again.

 

[eMark]

Is the gap, the amount of pre orders before open of buyers wanting to get in, at the best price?

This morning it opened up 15c. Then it continued to move up an hour later after Centro announcemnet re where the company stood on the matter

The news announcement and coverage in the media may help. Who knows?

Wealth Wizard - When you wrote "market action at high volume and to the upside +0.005" are you referring to todays action? and the half a cent? what do you mean by that?

 

[Wealth Wizard]

Yes it's in reference to todays close, generally at 4:00 those wishing to try and get into the stock raise their bids and those trying to get out lower their offers, a price is met and trades go off at this value, a higher after market price compared to the last on-market price indicates a buying momentum, and given the large volume at 4:10pm I would not be surprised if it does not open at a positive gap tomorrow.

 

[eMark]

Brilliant information. Thanks mate!

-----------------------------------------

Big sale after the close

Date Time Price ($) Quantity Value ($) Conditions

19-12-2007 04:48 PM $1.205 592480 $713,938.400 Late Trade,Crossed

 

[stockwhizben]

The as of last week top 50 oz company is not some tiny speccy with no real business or someone searching for minerals that dont exist. it brings in the cash and IMO there is no way they will let it go into liquidation without a massive fight or the banks give up on it. ill be back to post on feb15 and i predict that centro will get their funds by this date at least for a little while longer and more time to fix the business will have been bought. At the expiry of this debt, say 6-12 mths or whatever, they may be able to borrow the money again at lower rates as they have been previously used to as the credit crunch surely must subside by then. However, this risk cant be taken as have been burnt before so will fix the business, IMO go back to just Oz shopping centres and get out of the US. I reckon the SP will be at 3 or 3.50 when they announce they have managed to borrow after all around mid-Feb. Dont think it will get to the 8-9 level for many years when confidence in the company is rebuilt

 

[michael_selway]

I think it may depend on how well the DOW does tonight.

The chart looks good in my opinion after some recent falls to place the DOW sitting pretty much right on its 200 day moving average.

I'd look for a rally possibly back up to 13400- 13500.

I threw a few dollars at CNP yesterday but am pretty nervous about when it will turn tail and head down again.

Hi yep abit liek RAMS, droped and rebouded btu eventually sank further slowly

As long as you buy low, it reduces the risk in a ST play like this!

Earnings and Dividends Forecast (cents per share)
2007 2008 2009 2010
EPS 58.7 47.2 50.4 53.6
DPS 39.8 47.3 50.4 53.9

thx

MS

 

[bearmarket]

Why were financial advisers and brokers and other experts recommending Centro for investments up until before the fall in the shares. A lot of people must have lost money on their investments in Centro.

bearmarket

 

[vishalt]

Why were financial advisers and brokers and other experts recommending Centro for investments up until before the fall in the shares. A lot of people must have lost money on their investments in Centro.

Because this is like a car crash, no-one just goes out of their way to die on the road.

Up till this point Centro had a good plan to acquire malls use their yields to pay good distributions from their shares and funds, that is exactly the type of thing certain audiences who invest in shares or funds want, reliability with constant income -- hence its an attractive product for planners and brokers.

Blame the US sub-prime debacle for making banks so paranoid that they wouldn't even lend a business like Centro which had a secure plan to make money (albeit it did overgear but everyone makes mistakes).

 

[Noskcid]

Haha, the question is how far up will it climb, till it falls back. Alot of ppl would be jumping in the water now and they will either come out soaked or really dry.

But either way they wont let a company of this size just die without a word.

I went away for a few days and look what happens the perfect chance. $1.20 is still good but we'll see what happens tmr.

 

[numbercruncher]

AUSTRALIAN banks have a $4 billion exposure to stricken retail property manager Centro Properties Group, including almost $1.5 billion in unsecured loans.

Commonwealth Bank of Australia has the most at risk, with a total lending exposure of $1.3 billion of which about half is believed to be unsecured.

The CBA loan exposure does not include the massive investment losses that its Colonial funds management arm has incurred since Centro's share price has plummeted.

ANZ and NAB are also heavily exposed.

http://www.news.com.au/couriermail/story/0,23739,22947230-3122,00.html

Big ouch for CBA, how many more hits I wonder could our banks take of this magnitude before serious serious serious trouble ?

 

[So_Cynical]

St George as well.

ST GEORGE Bank has a $400 million exposure to trusts operated by the troubled Centro Properties Group, according to chairman John Thame.

Speaking after the bank's annual meeting in Sydney yesterday, Mr Thame said the bank had given 20 or 30 loans to trusts managed by Centro totalling about $400 million.

http://www.theaustralian.news.com.au/story/0,25197,22950915-643,00.html

Apparently St George is a secured creditor ......................:dunno:

 

[Freeballinginawetsuit]

There would have been a raft of bean counters wading through CNP's financials on Monday night.
The sad fact of these leveraged trusts (and CNP at about 50/50 is pretty tame) is that there accounting procedures are as cloudy as a glass of milk. Geez even getting a firm grip on an accurate asset/liabilities number is next to impossable.
I wasn't even fussed about them being able to source funding for debt rollover, just the number of assets held and pinging a potential net worth....... enabling a educated punt for Tuesday.

After several hours I came up with pretty much zip to go on!.

I bet there are some pretty red faced insto's/fin advisors doing the ostrich to there clients now

 

[vishalt]

You know what, I knew it.

Like they say, if something looks way too good, its bloody not true. I knew it, there would be something to hit the Aussie banks from sub-prime, banks around the world from even Canada and Norway have been vaporized by this, and now finally its our turn.

GO SHORT ON BANKS!