Nonsense. RAMs did a runner the moment it went public - in fact virtually from the day that the subprime issue arose.
For Centro it was their business model that has caused this grief. Someone said Centro should have negotiated long term lending, rather than short term. On this I have to agree - it was short-sighted of Centro to do so, however thats probably the fault of the bean counters and MBA's creed - "there is no tomorrow, I want everything now - so let's wait to the last moment to refinance and maybe we can gain a few more points".
I think that Centro will survive and in time prosper again, however they should take to heart what Rufarno did to turn around New Plan - more conservative gearing and better communications with SH's, financial markets and lenders.
CNP Price at posting:
0.0¢ Sentiment: ST Buy Disclosure: Held
