takeover prospects, page-9

There won't be any more revenue from the Financial Services division, it was sold for $2.2m as announced. It never made a profit anyway. The acquisition of this business via the Terrain takeover in 2004 was a huge stuff up, massive dilution to shareholders as it never made CIY a profit from day one.

And you can't be certain that CIY can continue to draw $30m plus in fees from the mortgage fund each year. That $30m plus is simply the difference between the cash the fund receives from developers and the amount it has to pay out to investors. If the fund is not receiving enough cash to pay back CBA and the investors (which is the pesent case) then there is no cash available for CIY to draw out.