interesting note in afr today about infra fund, page-7

Hi T2T

No.

Look what happened with TCL, and SRG and Hills


TCL just took them .


Toll road leases are severely undervalued.

We need a Qantas type move in the market.

407 ETR has just been valued at 300% of what was paid in 1999.

The M7 will likewise be valued

Just look at the extent of commercial dev in the corridor

Similarly CEU


RCY.....???

well below the $1

Some say it is because it is like the Sydney tunnel

I think it is a different kettle of fish

No tolls around it.

Traffic numbers

Aggressive???

TCL rose on Friday

By the end of the year....I expect lower bond yields globally