TRA - Turners Automotive Group [previously TNR - Turners Limited]

[Nitaa]

BK can hardly comment, after his gem purchase...ICP BIO!


How good is Byrnes? A Director, has all the info, & still buys shares!

My opinion on that was to give potential and current investors a false hope. Sorry to say.. dpc was gone months ago hen they were saying they had 30m plus in cash or equivilant. the writing was on the wall 3 months ago. The sad fact is dpc was another company prepared to take in money from niave investors.

People will be surprised to see the full details. if they do then they see no way out long time ago.

[Nitaa]

What to do as an investor? die a slow death or cut your losses. I know what i would do...


sorry for showing my frustration. i just hate seeing investors being duped.

discl. sold out 3 yrs ago

[Dr_Who]

How much do you think shareholders will get out of this?

Why was Brynes buying shares at much higher levels?

[croesus]

Thankfully never invested.............always had a *87 feel to it... rats tails entwined..sort of thing....Dorchestor, Bridgecorp,Auguste, St Lawrence (by proxy)....and more...and now the emperor has no clothes.......... thinking National Property Trust... could be a contrarian buy shortly..

[tim23]

Some of us are hovering ... Belgie the Vulture.

So you bought a 1000? Gee you may appear on the top 20 at that rate!

[COLIN]

Thankfully never invested.............always had a *87 feel to it... rats tails entwined..sort of thing....Dorchestor, Bridgecorp,Auguste, St Lawrence (by proxy)....and more...and now the emperor has no clothes.......... thinking National Property Trust... could be a contrarian buy shortly..

Croesus, I agree with your comment re the "87 aroma". I was never tempted to go near them.
Re NAP: Price is already heavily discounted and, in theory, Kevin Podmore's problems should not affect them. It was interesting to see the notice today regarding St. Laurence taking their Performance Fee (for managing NAP) by way of NAP units - allocated at a price of just over $1. Meaning, of course, that their value is immediately halved. Good for other NAP holders though!

[Steve]

It appears that DPC burnt thru $10m cash for June. Once again it shows that when a company starts emphasising how much 'cash and equilivants' it has, then the RED FLAG is up...

[croesus]

More bad news for DPC ..to come,,but ....good on St Laurence.. for fessing up before it got completely out of control..... seems looking at what details are available... a complete sell down of assetts... will leave all creditors repaid ...

[Hoop]

Dorchester report reveals woes
By admin
Created 06/30/2008 - 17:12

• <LI class="first taxonomy_term_1">Business <LI class=taxonomy_term_608>Dorchester Pacific
• finance companies

by Sarah McDonald


Dorchester Pacific has over $48 million of impaired loans on its books, an increase of more than 400 per cent over the last financial year.
The embattled finance and insurance company, which announced last week that subsidiary Dorchester Finance would be withdrawing its prospectus and seeking a moratorium from investors, released its annual report today.
The financial statements will not provide much comfort to debenture holders and shareholders: they reveal that $109 million of Dorchester’s finance receivables are either impaired or past due.
Impaired business loans, at $41.6 million, are more than 10 times higher than in 2007. Impaired personal loans have stayed static.
Of the $61 million of loans that are past due (but not impaired), 44 per cent are more than 90 days late.
The company’s impairment provisions are just $22 million.
Chairman Barry Graham said in his report that the market environment for Dorchester changed significantly during the 2008 financial year, with changes in investor behaviour, restriction of alternative funding lines and a deterioration of the property market.
How Dorchester’s $29.6 million investment in fellow property financier St Laurence came to be written down by $11.4 million just a year later, was put down to an IFRS requirement to “reflect market conditions”.
Dorchester Pacific posted an after-tax loss of $18 million, in contrast with a profit of $3.8 million for the 2007 financial year.
It owes $197.8 million to debenture holders and $10.8 million to holders of subordinated unsecured notes.
Dorchester shares slumped again today to 13 cents, down from a 52-week high of $1.75.
Island ad par:
4




Source URL (retrieved on 01/07/2008** - 12:37): http://www.nbr.co.nz/article/dorchester-report-reveals-woes-32632

**Changed from 07/01/2008 edited on 07/07/2008

[POSSUM THE CAT]

Who is the big buyer of DPC to day over 250000 shares through market and still a buy order for 250000 shares any opinions