South Canterbury Finance Limited

[percy]

Enumerate and Minimoke.
May I say how much I enjoy your well thought out informed posts.
The magnitude of the requirement is that a $1billion dollar finance company could be run with equity of $100mil,you wrote Enumerate.I think the commentators do not understand this.
From the PGC exercise ie capital raising it was shareholder capital lost.The speed at which Torchlight raised $150 mil surprised me,then Marac paying cash of $70 mil for GMAC.
My point is that $220 mil At PGC makes SCF requiring capital look not so hard.
Shareholders led by Kerr saw Marac as a good finance company once the proprty loans were accounted for.SCF is the same.

[Enumerate]

Shareholders led by Kerr saw Marac as a good finance company once the proprty loans were accounted for.SCF is the same.

The Marac of old was an commercial/industrial financier, I believe. SCF is to agribusiness what Marac was to commercial/industrial. Both are specialist forms of lending and require much more commercial savvy than is present in the trading banks.

I'd say that if PGC had to choose between Marac and SCF ... they would choose SCF!

[percy]

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I'd say that if PGC had to choose between Marac and SCF ... they would choose SCF![/QUOTE]

Yes.That's a thought.!!!PGC shareholders love divies,where they come from they do not mind.A few years ago I was at a PGC AGM when then chairman Sir Miles Warren announced that the divie was being increased.Greeted with hurrah,hurrah from the shareholders.I thought someone would lead three cheers for the chairman!!!!Yes SCF is more of a fit with PGC when you really think about it.