way oversold, page-29

The AUD is a prob. The other thing to consider is asset base. 1.5B of goodwill/intangables. The gooddwill is affected only by earnings potential, so I don't see it as a big issue. If they do write down some of their asset base at end fin year, this will increase ROE and ROC, which has been a concern for some. Personally, I don't see these issues as long term. In 12 - 24 months time, I think that this one will has the very real chance of going from dog to prize pooch!!