capitaland strengthens balance sheet, page-2

MGR downgrades profit by 50% which is a portent of ALZ profit drop, as indicated by large drop in revenue for ALZ released in Capitaland 3rd Qtr report.

MGR to raise $500M though it probably could have got by with $300M as speculated earlier. A real blow to management credibility given what CEO was saying a couple of weeks back. Expect ALZ to be doing it tuff and announce a DRP and probably further capital raising initiative prior to the $563M June 2009 CBMS debt is due.

I believe these latest rounds of cap raisings will the last for those left well capitalised though still some time before asset write downs are finished and blue-sky ahead for the REIT and development sector. Just waiting to see ALZ top up for complete de-risking of my AAZPB's.

goodluck