Sharechat Logo

Forum Archive Index - August 2003

Please note usage of the Forum is subject to the Terms & Conditions.

 
Messages by Date [ Next by Date Previous by Date ]
Messages by Thread [ Next by Thread Previous by Thread ]
Post to the Forum [ New message Reply to this message ]
Printable version
 

RE: [sharechat] Trans Tasman (TTP) trades 35


From: "david.gibson" <david.gibson@k.co.nz>
Date: Mon, 11 Aug 2003 14:01:20 +1200


I hold TTP and am quite pleased with the progress to date.

First - a couple of points:

Assertion #1 - High Management Fees
I can't find evidence of the management fees being anything other than fair
and reasonable.  I have raised the point before - no one has corrected the
view, based on research, that TTP is "best practice".  I would welcome
insight into this ... please!

Assertion #2 - Poor prospects for recent investments
I tend to view the Viaduct and Airport developments as extremely positive.
The success of the existing airport development is evident.  The new airport
property will be blessed with reasonable proximity to the airport and access
to the motorway system.  In light of TTP's conservative approach to
development - my guess is that there is already significant expressions of
interest in the new property before TTP would proceed.  The Viaduct is now
the pre-eminent home for technology companies - my guess is that the TTP
developments will be commercial, rather than residential.

There has been bad press surrounding the stock since the Latimer Holding
attempts to force either a buy back or capital distribution.  The central
point made in this action is that SEA is behaving oppressively in some
manner.  Personally, I do not see what the fuss is about - when you look at
the facts, TTP looks "best practice".  I personally welcome SEA as the
foundation shareholder as it has allowed management to implement massive,
long term structural reform.

One point people miss is that the RJI Trans Tasman and SEABil entity were in
rough shape in 1995 at the merger.  Do you remember Chase, EquityCorp,
Aurora, etc ....? Trans Tasman is a survivor, and while its path has been
difficult, it is a testament to Management and Shareholders that it is in
excellent shape today.

As to why the stock attracts zero interest from the analyst community - who
knows.

Best Rgds
David Gibson


----------------------------------------------------------------------------
To remove yourself from this list, please use the form at
http://www.sharechat.co.nz/chat/forum/


Replies

References

 
Messages by Date [ Next by Date: [sharechat] Warning - Access Brokerage Ltd Brenda Fox
Previous by Date: RE: [sharechat] Trans Tasman (TTP) trades 35 david.gibson ]
Messages by Thread [ Next by Thread: [sharechat] TTP vs KIP Management Fees david.gibson
Previous by Thread: RE: [sharechat] Trans Tasman (TTP) trades 35 david.gibson ]
Post to the Forum [ New message Reply to this message ]