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CNP - Centro Properties Group

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dotanz said:
Media painted the hedging thing far too big. It only happens in next 4 - 6 years time. NOW we are talking about a situation for the next couple of months!

What are the newspapers thinking of?
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Mate journalists are retards. Pure and simple. Instead of stating the facts they sensationalise everything thinking it's better to read.

I loved this one by some West Australian turkey. "Centro's shares dropped a further 23% on their way to zero."

"To zero!" Totally unfounded and pure bull**** creativity which needs to stay in children's books and not financial publications. Oh and I'd happily tell this wanker straight to his face.
 
Ehhh I wouldn't go that far, that's what you get when you read news from smh or Daily Telegraph or any of those rubbish fairfax/news ltd newspapers, they're overly-opinionated.

Go to something like Bloomberg.com and read the Centro stories and I think you'll find much more objectivity.
 
Well I have to say it, Monday looks very ugly for CNP, given the dreaded 4pm announcement, and the drop on Wall Street.

Should be pretty easy to pick CNP up for under $1 come Monday morning
 
Stop_the_clock said:
Well I have to say it, Monday looks very ugly for CNP, given the dreaded 4pm announcement, and the drop on Wall Street.

Should be pretty easy to pick CNP up for under $1 come Monday morning
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Why would you want to, with debt at $3.00 per share and an inability to refinance + possibilty of a trading halt at any time.
 
Very surprised by this stock today. I thought I would get beaten down heavy yet it's lowest was 106 and it's managed to rally back up to 120ish.
 
It's very interesting to see CNP holding up strongly today, even under stupid media report/abuse over the hedging issue and the run down in general market. It means that Mr. Market agreed the value of the stock.

Can't wait to see the end result in a month's time.
 
Centro Properties Group (CNP AU), the shopping mall owner that put itself up for sale after struggling to refinance debt, increased 2.5 cents, or 2.1 percent, to A$1.23. Oaktree Capital Management LLC, a Los Angeles-based private equity fund with $51 billion in assets, is a potential buyer for stakes in Centro's malls, the Australian Financial Review said, without citing where it got the information. Oaktree joins Blackstone Group LP in ``expressing interest'' in Centro's some A$2.3 billion ($2 billion) in assets, the Review said.

Source:- http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aldOaTb0uGm8
 
these things are falling and falling today....

no announcement either... is this calm before the storm? it looks like a stopwatch at moment the digits just trickling backwards.

think i will buy some more...
 
Nathan_b said:
these things are falling and falling today....

no announcement either... is this calm before the storm? it looks like a stopwatch at moment the digits just trickling backwards.

think i will buy some more...
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Just got some at .88 Gotta be in it win (or loose it). This time tomorrow I'll either be laughing or crying.

Did you get any Nathan?
 
I was looking at it's PE ratio and it's something like 2. How badly has the events in the US affected this stock? Is it a major bargain or a major loser?
 
mime said:
I was looking at it's PE ratio and it's something like 2. How badly has the events in the US affected this stock? Is it a major bargain or a major loser?
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If they pull it off, ajor, major bargain! If they don't then you may as well spend your money at the Pub.
 
1139 [Dow Jones] Centro Properties (CNP.AU) slips as much as 23% after newspaper report that a CNP executive met with Australia's securities regulator. The Australian newspaper Thursday cites a journalist in lobby of ASIC office who overheard a lawyer advising the executive and speculates the regulator may be investigating CNP's failure to account for more than A$1 billion of debt in its FY07 accounts. An ASIC spokeswoman declined to comment, while a CNP spokesman said he was preparing a statement. Shares in CNP, which is struggling to refinance A$3.9 billion in debt, have dropped 93% since Dec. 17 when it informed the market. CNP last trade down 16% to 94 cents, Centro Retail (CER.AU), a property trust managed by CNP, down 12% to 68. (ABH)
 
...strange huh? We already knew the board would get looked at. What a day. I can't see that it's material though. Don't we either take a view on the net-value of the co in the event they fall over (knowing access to any return will be long and painful) or we take the view they'll survive?
 
I'll surely be watching this first thing tomorrow. If the market opens down tomorrow I could see this running a lot more, maybe into the 60cent range.
 
tronic72 said:
If they pull it off, ajor, major bargain! If they don't then you may as well spend your money at the Pub.
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chances r, after ASIC there will be a class action law sue against them, it'll be a real tough one for CNP to ride out... Good luck to all holders.
 
If investors no matter how big or small were involved, do they have to keep their holding until the end of the court case to be part of it or would just being a investor at the time of the fallout be enough? Class action suits are new to me.
 
In addition to letsgobroncos question, would a class action cover all investors holding stock recently or just the ones that bought stock from the time the first financial statements were released until they were amended - the loans current versus non-current issue (amended without notice given)
 
Trading Halt, any thoughts?? A mate dropped 10k into these yesterday arvo... I'm thinking either good news or bad news will be heard soon...
 
Ok so CNP has just gone into a trading halt till the 15th..

This is quite possibly the next chapter, the asset value of CNP is around $3.50 per share so I am hoping for some serious premium to the current price for any offer or strategic break up..

The only downer for me was the nasty sell off yesterday for no apparent reason other than the actions of a leaky market??

Who else is on this punt???

fortune favours the brave!

benwex
 
Trading halt.. wonder whether it's good news or bad ... this announcement could make or break centro

Feel like gambling at the casino don't know what card centro gets next
 
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