reports 20th feb, page-69

MM
Staying put.
I have a large holding of LEI (average $17 about)
Hoctief is a worry especially as they are Spanish owned. I see Spain's 10 Yr treasury note has a lower yield than ours.
LEI by itself is much better managed as a company than under Wal. Wal depended on a longserving CFO and when he went LEI went down.
The new CEO called all the sub companies under LEI and had imposed rigour on their bidding for projects.
The forthcoming Royal Commission into the construction industry will expose some bad practices from LEI but these are previous management.
The soon to be announced tsunami of infrastructure projects will find LEI ready.
The imminent announcement of a new airport for Sydney will play to LEI's strengths.