mfs business update just out, page-8

MFS and their funds mostly have investments in Qld and Victoria real estate and leisure.

For keen investors...go to half year report today from GPT (same type of business asset base - and GPT bullish about ongoing aussie strength in real estate and property)

Obvious writedowns concerning their goodwill...and maybe those New Zealand loans, however.

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Even slightly a little positive report here from MFS in an advisor update from their website....probably missed by many investors.....worth a read.

".....to provide further re-assurance...." at least a little to like from the advisors report.

Note: involvement of 333 Capital (Mark Korda and Mark Mentha-they sghot to fame with a good job undertaken with Ansett).A positive endorsement from 333 Capital....at time of MFS relisting would be a big help for the company.

http://www.mfsgroup.com.au/corporate-site/mfsim/pdf/updates/AdviserUpdate20080219.pdf

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Story from Michael West in that story out in the last 90 minutes talks alone the same lines as an earlier post this afternoon....MFS did not want City.

In conjunction with this info that I received....it is confirmed that MFS will come out of this with $600 or $700 million of aussie real estate assets... and 35% of Stella....and some $800 million of tax loses.

Would support a share price of about $1.75