I've abbreviated article by Carolyn below re Centro.P.G. to...

I've abbreviated article by Carolyn below re Centro.P.G. to relate to valad re- "looks positive for other groups such as Valad" and imho could soon encourage a re rating of SP to break through $1 & continue its run.
Best wishes to those who hold

Carolyn Cummins
May 7, 2008

THE beleaguered Centro Properties Group has until later today to fend off administrators and strike a deal with its bankers to extend its $4.2 billion debt deadline for the fourth and - the market hopes - last time.

St George, which has a fully secured loan of $458 million to Centro, confirmed yesterday that it had not made any provision for possible losses, as it remained confident the deadline would be extended, allowing Centro to work its way out of its mountain of debt.

"From what we hear, Centro's directors remain reluctant to offer potential buyers its better assets as the banks want them kept on the balance sheet as collateral," a source said.

"So it's a Catch-22. Other retail owners, such as Stockland, CFS Retail and GPT, among others, have been taking a good look at these assets, but Centro management only seem to be testing the market to determine a value for the properties and not offering up any sales."

Meanwhile, Goodman Group has raised about $260 million through the sale of its British services arm, Goodman Property Investors, and GPI managed funds to Aberdeen Asset Management. It included £12.5 million ($26 million) in performance-based payments over the next two years.

Analysts said the sale was expected and the price would be positive for other groups, such as VALAD that operate similar businesses in Britain.