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Thread: SKC - Sky City

  1. 13-02-2019, 10:04 AM #651
    bull....
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    Quote Originally Posted by Benny1 View Post
    Read somewhere a little while ago about some land in Queenstown being acquired as a future hotel site and my first thought was Skycity!
    Seem to be on track with Rob Campbell steering the ship.
    Wasn't expecting a share buy back. Wish I had grabbed more of these at $3.46 not too long ago!
    queenstown offers big opp to bring in ib customers should be a 5 star hotel i hope go for premium clients with big bucks offer them packages including tourist stuff etc
    one step ahead of the herd
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  2. 13-02-2019, 10:14 AM #652
    Benny1
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    Quote Originally Posted by bull.... View Post
    queenstown offers big opp to bring in ib customers should be a 5 star hotel i hope go for premium clients with big bucks offer them packages including tourist stuff etc
    They starting to do that in Auckland with the proposed All Blacks experience and a partnership with Weta workshop so can see that as a sign of where they are going in future developments. Queenstown would be a natural expansion of those type of projects in the future.
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  3. 14-02-2019, 09:37 AM #653
    Beagle
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    https://www.nzherald.co.nz/business/...ectid=12203586

    Rob Campbell and the board will get plenty of exercise for their minds with a huge fight shaping up between FBU and SKC. What's the bet some top QC lawyers are almost salivating at the thought of millions of dollars of billable hours !
    Ecclesiastes 11:2: “Divide your portion to seven, or even to eight, for you do not know what misfortune may occur on the earth.”
    Ben Graham - In the short run the market is a voting machine but in the long run the market is a weighing machine
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  4. 14-02-2019, 09:51 AM #654
    Balance
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    Quote Originally Posted by Beagle View Post
    https://www.nzherald.co.nz/business/...ectid=12203586

    Rob Campbell and the board will get plenty of exercise for their minds with a huge fight shaping up between FBU and SKC. What's the bet some top QC lawyers are almost salivating at the thought of millions of dollars of billable hours !
    Indeed!

    And the QCs will prolong as long as possible any settlement so they can keep milking this debacle.

    Logic says that FBU will come out the big loser however in the end as NZICC is not the only project that FBU has stuffed up so spectacularly - too easy to prove that FBU has completely screwed up its project building and construction division. Admission of guilt is that FBU is phasing out and shutting that division down.
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  5. 14-02-2019, 10:46 AM #655
    Beagle
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    Quote Originally Posted by Balance View Post
    Indeed!

    And the QCs will prolong as long as possible any settlement so they can keep milking this debacle.

    Logic says that FBU will come out the big loser however in the end as NZICC is not the only project that FBU has stuffed up so spectacularly - too easy to prove that FBU has completely screwed up its project building and construction division. Admission of guilt is that FBU is phasing out and shutting that division down.
    Yeap, I couldn't agree more Balance. FBU look like they're on a hiding to nothing. This project was supposed to be open now and was originally quoted at just over $400m.
    My money is on further write-down's for FBU, (I'd bet money the total cost including damages will run over $1b) and SKC's lawyers rubbing salt into the wound of what is arguably the biggest construction cost fiasco in N.Z. of all time. Interesting to see the size of the retentions SKC is already holding back. Possession is 90% of the law
    Disc: Don't own SKC (sin stock and their Fortuna buffet is also evil for my waistline) or FBU, academic interest only.
    Last edited by Beagle; 14-02-2019 at 10:48 AM.
    Ecclesiastes 11:2: “Divide your portion to seven, or even to eight, for you do not know what misfortune may occur on the earth.”
    Ben Graham - In the short run the market is a voting machine but in the long run the market is a weighing machine
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  6. 14-02-2019, 10:50 AM #656
    carrom74
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    https://www.nzherald.co.nz/business/...ectid=12203540

    A buyback would spruce up the share price.Seems to be a knee jerk reaction yesterday. Read somewhere that they are selling car parks is worth $300M ! holy me... thats a lot of money...
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  7. 15-02-2019, 08:48 AM #657
    Balance
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    Quote Originally Posted by carrom74 View Post
    https://www.nzherald.co.nz/business/...ectid=12203540

    A buyback would spruce up the share price.Seems to be a knee jerk reaction yesterday. Read somewhere that they are selling car parks is worth $300M ! holy me... thats a lot of money...
    https://www.nzherald.co.nz/business/...ectid=12203775

    $28m actually - or $14,000 per car-park which is ridiculously cheap for Auckland! Recent sales in some of the apartment buildings were for $100k!
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  8. 15-02-2019, 09:01 AM #658
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    Quote Originally Posted by Balance View Post
    https://www.nzherald.co.nz/business/...ectid=12203775

    $28m actually - or $14,000 per car-park which is ridiculously cheap for Auckland! Recent sales in some of the apartment buildings were for $100k!
    agree 14k seems a low price per lot
    one step ahead of the herd
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  9. 10-03-2019, 09:57 AM #659
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    https://www.stuff.co.nz/business/111...upset-minister

    NZ laws on hold while government fiddles with all kinds of nonsense except progress.
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  10. 10-03-2019, 12:26 PM #660
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    Quote Originally Posted by Balance View Post
    https://www.stuff.co.nz/business/111...upset-minister

    NZ laws on hold while government fiddles with all kinds of nonsense except progress.

    I view this as pretty good news for SKC ... they've been totally open and transparent with the government and had been hinting at going their own way for a while now ... I hope it ends up being successful!
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