A few observations on MGR from coverage from friday....quality...

A few observations on MGR from coverage from friday....

quality assets and management

some good positives in the news

boost its cash flow by up to $130 million.

prudent to maintain cash flow.

institutional investors in Australia are supportive

The move would save $60-$64 million this year, and expected similar savings "or a bit more" next year

estimate this would result in retained profits of $92 million for the purposes of repaying debt and strengthening the balance sheet

continued discount to NTA

a positive position for the remainder of this financial year and 2009-10.

Two of Mirvac's projects are nearing completion and expected to contribute to positive cash flow.

hold capital in the business to ensure are well placed coming out of the current challenging environment

seeing good signs (of improvement) in the residential sector and preparing for the next stage of the cycle

well capitalised to take advantage of the upswing.

First-home buyers make up 80 per cent of its NSW sales, and the state was now its most active market. Sale volumes had increased 15-30 per cent across other markets since January.

ANZ went up on similar action to be active/ prudential in cash management.

oversold on friday