a better feeling, page-2

There's only 1 serious seller of the notes and s/he has carefully manipulated the price upwards from 12 cents to 18 cents by careful and patient placement of 200k in notes each time and always just out of the reach of the buyers.

Why no buyers?

They just haven't twigged to what's on offer here.

Asset sales? it's a tough market and "no news" equals no news.

The company has started to smarten up their PR efforts..check their website.

BUT should be more news on the "social communities" and specifically the AFR coverage of same (which must have been a peace offering after their pathetic and damaging reporting of the half yearlies.)

I like Matthew Chun the CEO and believe he has the ear of the financiers....he'll either get the debt reductions via asset sales or he'll be able to defer albeit at a higher interest rate.

I remain very confident with BEC because unlike all the other REITS who are peddling similar assets, BEC does have a genuine future via social housing estates and Rudd's $4bn spend.

Holders of the notes should feel confident...June 30, 2010 is just around the corner and there's only $14m to be repaid in any event.

The two squeeze points will be 08/09 accounts and Dec 09 half yearlies (Feb 2010) and the binoculars will be on a two horse race...the debt levels and covenant breaches plus the asset levels and asset write offs.