only thing which is a bit of concern is that they are expecting further property devaluation on 30th june2009 which may breach LVR covenant of 65% for MCS. This will very much apply to CER property devaluation as well. The only unknown is the extent of decline. As we will have FX writeups & propery devaluation. Don't know the end result ( though I hope it will be positive)
weekend reading, page-4
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