Buy @ $0.76. They just confirmed Moody’s downgrade – may have problem refinancing their debts at a good rate or worst case, gearing limit will drop from 60% to 45%.
On the positive side, they have indicated that they may sell their Australia assets (boom there), which will allow them to reduce their debts. If they are able to sell at their last valuation, the profits are also quite substantial (Cost A$346.8M ; Valuation A$482.9M => A68.4ct/share or ~S87ct/share ; Debts stands at S$888M ). The main risk is whether they can sell the Aussie assets at valuation. 😉