i'm out, page-2

Me too...

I like the numbers here and agree with steven's analysis.

However, reading the Operational Report - especially the top paragraph from page 2...

I reckon there is a capital raising imminent for MDT. With US$148 million falling due in June 09 (MDT's share of the debt), and tight covenant ratios I think that banks will want to reduce exposure.

I also imagine that MDT will find it VERY difficult to sell the 94% vacant, 32 Mervyn properties in time (and for a reasonable price), thus posing the problem of whether to sell the 90% occupied 'core assets' at discounted rates or to raise capital.

Given GPT's move today, MDT will follow suit close behind IMO...

I'm punting on capital raising soon, at discounted prices, and then I will jump back into MDT if/ when opportunity arises.

I know its a punt but 'gut feel' thinking at this stage