responce to asx query, page-14

All the Directors should be taken to the cleaners, they are neglegent. I don't hold any stock however have been workig with banks on large building projects for the last 3 years and in the last 6 months the banks have been giving me reports and preparing me for what has just happend. Our comapny is 30% geared and we have only 10% of our debt on flaoting rates. We saw the writing on the wall 6 to 12 months ago. They should have the best financial anaysits and Accountant working for them and they can't even get their debt structure right. They have 67 properties on the Market in the US and they will loose at least 30 to 60% of what they originally paid Frank Lowy and others for as they have been on an agressive aquastition for the last couple of years and it is fact they have been netoriouse in paying 20 to 30% more than the centres are worth, coupled with property prices in America going down they are going to get burnt BIG TIME!! I just hpe that my Super fund doesn't have any as colonial and Commonwealth bank are the worst bank and Super fund in Australia that is going to loose on this. The commonwealth long and short term Bill rates went up nearly 1 % yesturday from last Friday.
I am staying well clear of this one ad good luck to the day traders that are risking their money every time they play with this one, I wouldn't pay more than 50 cents for it.
Kind reg
ang01