big asset writedowns, page-6

The main reason to be comfortable with this stock surviving is the major shareholder is Capitaland which has very very deep pockets and a large shareholding. It is pretty clear to me and I would think the bankers that even if the covenants were technically breached Capitaland would stand behind the company. This makes the situation a whole lot different to most other property companies. I agree with the person who said to focus on operating profit to interest cost ratios first.