What a perfect timing for me today. As anticipated, I have been waiting for the announcement for a while now and was lucky to dispose all my shares when it spiked for a decent profit. I think I had enough of punting on CNP. It is so risky with so much media speculations. I had my lows at times and I am glad I got out of it now. It has been a great forum knowing so many investors out there who still had faith and confidence in the company for the long term. I believe there is future for the company in the long run but I can't wait that long. Good luck guys.
CNP - Centro Properties Group
- Thread starter traderandy
- Start date
What a perfect timing for me today. As anticipated, I have been waiting for the announcement for a while now and was lucky to dispose all my shares when it spiked for a decent profit. I think I had enough of punting on CNP. It is so risky with so much media speculations. I had my lows at times and I am glad I got out of it now. It has been a great forum knowing so many investors out there who still had faith and confidence in the company for the long term. I believe there is future for the company in the long run but I can't wait that long. Good luck guys.
Good for you $$PUNT$$.. Glad you profited from the always on the 'brink' stock that is CNP now. THe media is really pushing it down and will continue to do it until there is real proof the company has recapitalised and continuing in the future long term. I am kinda (but just a twinge) regretful that .057c range did not hover around too long so I could decide to buy big at that SP. hahe..hindsight is always great to have. I will wait until next year to sell and I think/hope it will be ok - somehow I think they will manage but always risky.
- Joined
- 30 January 2006
- Posts
- 215
- Reactions
- 0
1% cut in official rates, falling aussie dollar, Centro is becoming less risky by the day, especially with a SP in the basement.
This would have to be one of the least "risky" punts on the market ATM.
We are not going to be placed in administration, if we were, it would of happened ages ago.
The worst is OVER..........carpe diam!!!
but always DYOR
This would have to be one of the least "risky" punts on the market ATM.
We are not going to be placed in administration, if we were, it would of happened ages ago.
The worst is OVER..........carpe diam!!!
but always DYOR
- Joined
- 27 March 2008
- Posts
- 15
- Reactions
- 0
I dont understand how centro benefits from official rate cut of 1%. Does it mean from now it has to pay low interest on the total loan amount ?
I would imagine the official rate cut would only affect any floating rate financing, eg overdraft, and then depending on the terms of the loan.
The bigger benefit will be in the general beneficial effect on credit markets, if indeed this occurs and is not swept away by worsening international conditions.
- Joined
- 27 March 2008
- Posts
- 15
- Reactions
- 0
I have read on few of the news and financial websites that if the centro doesnt receive extension beyond 15th december, it could face administration and fire sale of its asset.
According to this websites the revenue from this sale would be used to pay up the outstanding debt of australian and US banks.
Just want to know that in case of fire sales does the centro equity holder get any benefit ????
Since last 5 days the share price of CNP is going on decreasing by an average 4-5% daily.
According to this websites the revenue from this sale would be used to pay up the outstanding debt of australian and US banks.
Just want to know that in case of fire sales does the centro equity holder get any benefit ????
Since last 5 days the share price of CNP is going on decreasing by an average 4-5% daily.
- Joined
- 11 September 2008
- Posts
- 844
- Reactions
- 0
I would suggest that given the last week, a loss of 4-5% daily isn't the worst result. I think it is really unlikely that in these current market conditions any bank would want to be engaging in a fire sale. Well that's what I'm hoping.
First post!
chops_a_must
Printing My Own Money
- Joined
- 1 November 2006
- Posts
- 4,636
- Reactions
- 3
Soon, banks are desperately going to need some collateral.I would suggest that given the last week, a loss of 4-5% daily isn't the worst result. I think it is really unlikely that in these current market conditions any bank would want to be engaging in a fire sale. Well that's what I'm hoping.
First post!
This is one of the easiest decisions they are going to have to make.
CNP is worth less than zero and shareholders wont get anything back I do not think.
- Joined
- 27 March 2008
- Posts
- 15
- Reactions
- 0
Centro has been paying interest on debt regularly which shows that centro is in good health only the market conditions are not favourable to it. That's the reason US lenders have given $25 million more for capital expenses at the end of september deadline. If they would have thought that centro is worth zero they wouldn't have extended till 15th december and would have recommended fire sale.
- Joined
- 27 March 2008
- Posts
- 15
- Reactions
- 0
The aussie dollar has fallen 3% against american dollar today. Within last 2 months it has fallen around 25-30 cents against american dollar. Does this help centro in paying the outstanding debt to its australian lender easily ???
Any suggestion on the above issue.....
Any suggestion on the above issue.....
- Joined
- 30 January 2006
- Posts
- 215
- Reactions
- 0
The sale of CAF that should have gone through in mid-July, in some ways it's a blessing that didn't. Even if they have to lower their sale price, the precipitous fall ( 35%) in the AUD since mid July, would make the sale now in terms of debt reduction that much more attractive. USD sale reducing AUD debt.
The services business showed good growth (28%) last year and with the falling AUD should look even better.
In conclusion, this could be one business set to benefit from the weak AUD.
The services business showed good growth (28%) last year and with the falling AUD should look even better.
In conclusion, this could be one business set to benefit from the weak AUD.
- Joined
- 27 March 2008
- Posts
- 15
- Reactions
- 0
Recently all the 4 major banks and RBA are cutting down the interest rate. Does this interest rate cut help Centro in anyways.....
Recently all the 4 major banks and RBA are cutting down the interest rate. Does this interest rate cut help Centro in anyways.....
Only on the floating rate part of their borrowings.
See post of 8 October below.
"I would imagine the official rate cut would only affect any floating rate financing, eg overdraft, and then depending on the terms of the loan.
The bigger benefit will be in the general beneficial effect on credit markets, if indeed this occurs and is not swept away by worsening international conditions. "
Julia
In Memoriam
- Joined
- 10 May 2005
- Posts
- 16,986
- Reactions
- 1,973
Re: CNP Centro Property Group
With all the solid, well managed companies out there to choose from, trading at a discounted rate now and likely to fall further, why would you want to buy this failure?
Re: CNP Centro Property Group
People become emotionally attached to a company. I know people who kept buying Babcock & Brown everytime the SP fell... there are plenty of good companies out there, don't keep wasting your money on this one!
People become emotionally attached to a company. I know people who kept buying Babcock & Brown everytime the SP fell... there are plenty of good companies out there, don't keep wasting your money on this one!
- Joined
- 27 March 2008
- Posts
- 15
- Reactions
- 0
Guys an article from yesterday's "The Australian" worth reading :
Centro's servants
CENTRO'S embattled chairman, Paul Cooper, must be a pretty slick sort of salesman.
As his chief executive Glenn Rufrano finishes preparations for his New York showdown with Centro's US and Australian banking syndicates, Cooper has gone out and recruited quality personnel to his two boardrooms.
Cooper has delivered accounting heavyweight Rob Wylie to the board of Centro Properties and South African property guru Avin Leiberman to Centro Properties Trust.
Both are seriously qualified individuals and would appear unlikely to lend their names to a venture that is without hope.
The quality of Cooper's appointments last Friday were overshadowed to a degree by the fact that he was forced to recruit by the retirement of longtime Centro servants Peter Wilkinson and Sam Kavourakis. You know the sort of stuff, sinking ship and all that.
The idea that the departures of Wilkinson and Kavourakis were part of a growing exodus from Centro is fair enough. But it is not quite right.
The fact is, there is probably no way Centro's bank, here or in the US, would extend life-saving debt relief to the company without boardroom reform.
Kavourakis and Wilkinson were directors of Centro through the assemblage of this $4.95 billion disaster and the idea that they would continue with the board beyond as settlement the banks' endorsement of the Rufrano plan is ludicrous.
Meanwhile, Rufrano might draw some encouragement from a deal nutted out between Australian mini-tech Hyro Limited and the liquidator of Lehman Brothers.
Rufrano, remember, is looking to relieve Centro of about $200 million a year of interest payments in a debt-to-equity swap with his major bankers.
And that is exactly what the Lehman liquidator has delivered to little Hyro. Instead of potentially busting Hyro by forcing the repayment of a $20 million convertible note Hyro had with Lehman, the liquidator has accepted an upfront cash payment of $1.2 million and a two-step capital issue equivalent to 17 per cent of the company.
Which only goes to prove, even in this dreadful, gloomy market, that where there is life, there is hope.
http://www.theaustralian.news.com.au/business/story/0,,24526895-20142,00.html
Centro's servants
CENTRO'S embattled chairman, Paul Cooper, must be a pretty slick sort of salesman.
As his chief executive Glenn Rufrano finishes preparations for his New York showdown with Centro's US and Australian banking syndicates, Cooper has gone out and recruited quality personnel to his two boardrooms.
Cooper has delivered accounting heavyweight Rob Wylie to the board of Centro Properties and South African property guru Avin Leiberman to Centro Properties Trust.
Both are seriously qualified individuals and would appear unlikely to lend their names to a venture that is without hope.
The quality of Cooper's appointments last Friday were overshadowed to a degree by the fact that he was forced to recruit by the retirement of longtime Centro servants Peter Wilkinson and Sam Kavourakis. You know the sort of stuff, sinking ship and all that.
The idea that the departures of Wilkinson and Kavourakis were part of a growing exodus from Centro is fair enough. But it is not quite right.
The fact is, there is probably no way Centro's bank, here or in the US, would extend life-saving debt relief to the company without boardroom reform.
Kavourakis and Wilkinson were directors of Centro through the assemblage of this $4.95 billion disaster and the idea that they would continue with the board beyond as settlement the banks' endorsement of the Rufrano plan is ludicrous.
Meanwhile, Rufrano might draw some encouragement from a deal nutted out between Australian mini-tech Hyro Limited and the liquidator of Lehman Brothers.
Rufrano, remember, is looking to relieve Centro of about $200 million a year of interest payments in a debt-to-equity swap with his major bankers.
And that is exactly what the Lehman liquidator has delivered to little Hyro. Instead of potentially busting Hyro by forcing the repayment of a $20 million convertible note Hyro had with Lehman, the liquidator has accepted an upfront cash payment of $1.2 million and a two-step capital issue equivalent to 17 per cent of the company.
Which only goes to prove, even in this dreadful, gloomy market, that where there is life, there is hope.
http://www.theaustralian.news.com.au/business/story/0,,24526895-20142,00.html
- Joined
- 10 July 2004
- Posts
- 2,913
- Reactions
- 3
Local Wodonga News.
FOR SALE:/
Centro Birrallee and Centro Wodonga.
Buyers Urgently Wanted.
*Going Cheap, Cheap* ...
I wonder who will be cashed up and wiliing to fork out for these gems and all the other Centro shopping centres to come up for sale (and presumably, other name brands that fall by the wayside) which will likely start flooding the consumer retail section of the economy sometime soon?
FOR SALE:/
Centro Birrallee and Centro Wodonga.
Buyers Urgently Wanted.
*Going Cheap, Cheap* ...
I wonder who will be cashed up and wiliing to fork out for these gems and all the other Centro shopping centres to come up for sale (and presumably, other name brands that fall by the wayside) which will likely start flooding the consumer retail section of the economy sometime soon?
- Joined
- 30 March 2005
- Posts
- 835
- Reactions
- 2
Re: CNP Centro Property Group
This share has been my best performer in the second half of this year... I wouldn't call that wasting my money.
Yes there are more solid long term performers out there with much less risk. Read the fine print and know what you may lose not only on this share, but all shares.
Becuase I like the the intra day spread hehe...
This share has been my best performer in the second half of this year... I wouldn't call that wasting my money.
Yes there are more solid long term performers out there with much less risk. Read the fine print and know what you may lose not only on this share, but all shares.
chops_a_must
Printing My Own Money
- Joined
- 1 November 2006
- Posts
- 4,636
- Reactions
- 3
Re: CNP Centro Property Group
You are well aware aren't you that ANZ apparently in its last quarterly report or whatever it was, basically prepared the way for closing out on CNP aren't you? Meaning, they have already written it off completely, and will be unlikely to extend any more losses to CNP.
