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.
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