Forum Archive Index - February 2002

["Malcolm Cameron" <malharcameron@hotmail.com>]

The management company sustanially owned in australia before this by Lend 
Lease. Watch out for a take over CPT sells at a premium to asset backing 
when KIP sells at a large discount
Malcolm

>From: hugh webber <hugh.webber@clear.net.nz>
>Reply-To: sharechat@sharechat.co.nz
>To: sharechat@sharechat.co.nz
>Subject: [sharechat] Sale of Kiwi Income Property Trust management contract
>Date: Mon, 18 Feb 2002 22:07:35 +1300
>
>Must admit to a gut reaction as a KIP shareholder on reading this, the 
>market obviously didn't like
>it at first, dropped 2 cents but recovered 1 cent today. However I see the 
>two boyyos with the
>expertise have stayed on as consultants.
>
>Reminds me of the time when I heard that the insurance cover I had taken 
>out with the bank had been
>sold to some other extraneous party without so much as a by your leave/did 
>I mind. Then straight
>away they raised the premiums.
>So I cancelled it immediately telling them why - basically I objected to 
>being treated as so many
>head of cattle without being consulted.
>So the silly pricks sent me reminders, then they wrote to my wife saying 
>your husband has cancelled
>your insurance policy (joint cover). So I tore it up and rubbish tinned it 
>and they decided to give
>up at that point.
>
>I would have thought that the management contract for KIP actually belonged 
>to or should belong to
>the KIP shareholders not some other crowd and they should at least be 
>consulted.
>Particularly when it was being sold to a crowd of foreigners (Australians).
>Do you mean to tell me that we in NZ don't have sufficient expertise to 
>manage our own buildings,
>following on from rental cars, hotels and other extremely basic functions?
>Thank God the farms are protected.
>
>The other questions that logically occur are the conflicts of interest that 
>now arise.
>Naturally the management contractors are more interested in maximising 
>their own fees, commissions
>or whatever than they are in maximising the return to KIP shareholders.
>Secondly if a choice arises between taking up an investment opportunity in 
>Australia or taking one
>up in Australia - then they're going to take up the one in Australia aren't 
>they. And its probably
>only a matter of time before we see the HO and administration move to 
>Sydney.
>
>Pardon me but I'm starting to feel quite xenophobic at the moment.
>Maybe its a case for the NZ Shareholders Assoc and some uncomfortable 
>questions and evasive
>answers.
>
>
>----------------------------------------------------------------------------
>To remove yourself from this list, please use the form at
>http://www.sharechat.co.nz/chat/forum/
>






_________________________________________________________________
Join the world’s largest e-mail service with MSN Hotmail. 
http://www.hotmail.com


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