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[sharechat] Syney Airport and AIA - How do they compare?

From:	"G Stolwyk" <stolwyk@wave.co.nz>
Date:	Sun, 9 Sep 2001 23:07:53 +1200

The website below refers to Sydney Airport making a $ A 43 mill. profit last year compared with AIA which made $ NZ 59.1 mill.

Yet, the Sydney Airport could be sold for at least $ A 5 Bill. while NZ investors rate AIA to be worth only $ NZ 1.176 Bill. ( 420 mill. shares * $ 2.80 ).

I was warned some time ago that the Auckland Airport was underrated but I thought that the Sydney Airport Corporation tender was for some $ A 3.5 Bill.

The Macquarie Bank is forming a large Airport Trust and is a bidder.

In my opinion, the AIA price should be much higher and one would expect a flow-on effect on AIA once the successful Sydney tender becomes known! See:

http://www.smh.com.au/news/0109/09/national/national8.html

The site of AIA :

< http://www.auckland-airport.co.nz/Welcome.html >

AIA holders, what is your comment?

Gerry

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