Although he said that there was nothing more he could do, at the end of the day there was nothing stopping Mr Ridge from paying out the creditors from his own pocket even though there was no personal guarantees made to them.
IE:while there may be no legal reason to pay those who are loosing out, there is certainly a moral issue...
I still believe there is going to be much activity in this sector in 2005. If you only wanted to invest in one stock in this sector whether you would choose APT (for the reasons I mentioned above) or whether you would chose KIP (as an entry into the KIP/CNZ play). Which stock will do better in 2005?
dnicholls, On AMP Office I agree they have put together a very nice portfolio, lots of "trophy" office blocks and I do think they got the State ( BNZ ) and Mobil buildings in Wellington at a good price. What in particular do you like about them ?? Low mgmt fees ?? , You see office yields falling leading to big positive revals ?? , At 91c you might be buying $1 in value ?? Dividend yield is exceptional ?? Don't like KIP's exposure to retail ?? I'm thinking of adding some AMP to my PFI & KIP ( preferably at 90c rather than 91c ) just wondering what your thoughts were.
PS. Did you know they are doing an SPP at max 89c in Feb or March ? Only need to buy a few now at 90c and you might get the free option to buy apile more at 89c in a few weeks time !!
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