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RE: Re: [sharechat] NZ PORTS

From:	Mick Clifton <Mick.Clifton@eskimo.co.nz>
Date:	Wed, 25 Oct 2000 15:23:44 +1300

excuse me for butting it but just on "Weelington Airport".
Qantas (not the domestic carrier) are stopping their 
wide body flights tranz tasman. effectively all tassie flights 
will be boeing 737 only. This could effect Wellington airports revenue?
rgds 

-----Original Message-----
From: Warner Lamb [mailto:cloud9@i4free.co.nz]
Sent: Wednesday, 25 October 2000 14:58
To: sharechat@sharechat.co.nz
Subject: Re: Re: [sharechat] NZ PORTS

Thanks Graeme for info re: dairy board and import slowdown, good points. I
too have liked IFT and their assets,POT and in particular Well Airport but
still find it hard to see how an investment co can trade at such a premium
to NTA. Some brokers value IFT at over $2 but the current NTA is less than
80c. I see IFT like GPG and dont really know why IFT should trade at a
premium when GPG trades at a discount....am I missing something? In a report
from my broker it states "The groups major trading asset, Wellington Airport
is expecting an improvement in domestic traffic with the ending of Ansett
dispute and recovery in NZ economy. The asset is to be revalued up in the
current year and shareholders equity will rise as a result along with
goodwill and amortised goodwill. the investment will ensure operating
cashflows are maintained."

PS Is Dairy board decision 100% set.

R
Warner

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