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[sharechat] TRH - a recent Oz view

From: "P Maiden" <>
Date: Tue, 31 Oct 2000 21:03:03 +1300

Usually news about New Zealand companies in the Oz papers are pretty positive. Most aussies actually appreciate and admire a lot of New Zealand companies.
Baycorp is greatly admired by a lot of commentators in Oz. Most Victorians think that Lion must be a great company seeing they have taken on are winning against their own breweries. Nuplex is another that is admired in the way that has achieved considerable growth since expanding it's operations. And many more....... and then there is Sunline.
We don't always appreciate how good some of our companies are and how well respected thay are in other parts of the world.
Enough said. However this piece turned up in the  Age the other day -

Now, where would you find a railway system beset by problems like rickety rails, ancient, second-hand rolling stock, a whiff of inter-corporate skulduggery, eroding profits and an appalling workplace-safety record supposedly met by managerial indifference.

Somewhere in Africa?

Nope. Look no further than New Zealand.

I had never taken much interest in TRH ,except noting the abhorent way they continued to allow staff to be killed and injured, until recently when on fundamentals it looked a possible buy.

Then came the sale of the lease of  Auckland corridors etc and the price went from 270 odd to 400 over a month. Well done those who cashed in.

A bit more research, more revelations about the real state of the infrastructure and a lot of questions over how much needs to be spent to get everything ready for sale (or not getting much for what they have) I am convinced that TRH is not for me.

Thought you TRH holders might be interested in the story. I'd bail out before it's too late.







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