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Strategies & Market Trends : Thailand -- Ignore unavailable to you. Want to Upgrade?

To: tom who wrote (424)	6/2/1998 1:09:00 PM
From: peter michaelson	Respond to of 457

Hey, tom. Re HK rents. As a real estate guy myself, if those landlords are leveraged, there's not much point in lowering rents if they won't cover the mortgage payments. You would lose the property under that scenario as easily as with no rent. Therein lies the danger of leverage - makes the economy kind of brittle. No flexibility. I hear good noises out of Thailand, but many shoes left to drop in East Asia. I'm only holding hedged positions. Nice to see you post here again. Peter

To: tom who wrote (424)	6/2/1998 1:46:00 PM
From: Tom	Read Replies (2) \| Respond to of 457

Composed an SEAsian shopping list this very morning. Ah, Dairy Farms. There's a name out of the past. Haven't look at them in a while. Still paying a sizeable dividend, are they? Am, coincidentally, looking at similar enterprises in NZ and Philippines. Well, not looking. I'll be buying shortly. Some Australian Oil also. Am really getting anxious to get more money into the region, but will take small bites for now. And thanks very much for the Hong Kong report. I really must get over there. It's been a long time now.