SC Global

Summary of article on SC Global (BT, Mon Oct 5th 09, Ven Sreenivasan). Future reference for next bear market, need to verify the figures below:

• 1$.42bn debt
• But asset base is 2.38bn - is developable land valued at cost.
• 900,000 sq ft landbank, target and higg end of market. 400 units unsold inventory in projects such as the Marq, Hilltops and Martin No 38.
• Landbank carried on bookas an avg cost of $1500 psf (is this cost price?)
• Company has sold 20% of its inventory, and is collecting payments progressively.