Mate, if ou are looking at property, may I suggest you have a...

Mate, if ou are looking at property, may I suggest you have a look at BEC.

Nice clean report end of Feb. Yielding approx 13%, has fallen from $5 to $2, directors do not have margin loans over stock, gearing level of 49% (which will reduce to 40% upon settlement of some property sales this year), and from memory they have approx 90% of '08 earnings already booked in.

I also like the fact that they have taken advantage of the problems faced by the likes of Fincorp and purchased their property/development assets at discounted prices last year. A sign of a quality management team.

I noticed Goldman Sachs has become a major shareholder and as been building up its stake in the company.

ANyway, would be interesting to hear our thoughts.