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Re: Re: [sharechat] TCL (ASX)

From:	"Warner Lamb" <cloud9@i4free.co.nz>
Date:	Tue, 1 Aug 2000 19:15:14 +1200

Geoff, They have a forcast 2001 PE of 1,875? They also have some legal probs
to sort(Aus Tax Office with dispute over concession fees) Also contract
dispute with Transfield regards to late completion of western and southern
tollways and the TOJV shareholding is expected to come on the market..all
36m shares which may have some dilution effect to say the least. They have a
sell on Shareanalysis with Val; $2.07.
Since you seem to be a value investor..I would stay away till the legal
stuff is sorted and they meet deadlines on the tunnel project. They also
have v. heavy debt obligations which rely on that tunnel being finished on
time.Yet to report first year earnings... Risky
Warner


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