Well the market likes it.Giving MAp a controlling stake in...

Well the market likes it.

Giving MAp a controlling stake in Sydney should certainly see a re-rating.

Th original reason I first bought into MAp around 2002 was due to the size of developable land around Sydney that Macquarie had identified. I sat through an interesting presentation back then to analysts that went through the numbers and I almost fell off my chair.

Since then they have built a 12 storey building on a part of where the carpark use to be, leased some long term land to BP and McDonalds on the fringe of some of their land, created some commercial office space and warehousing for Qantas and freight forwarders....but really the huge developement plan they were getting through without the need for local planning consent has gone quiet.

I am betting we will start to hear a fair bit about this in coming months once we secure an additional 1% stake.

Kiril.

I hold.