MGR

Mirvac Group (MGR) , a company that operates real estate business in residential and non-residential projects and involved in Real Estate Fund management was the worst performer of the ASX100 list for the 10th week of 2010. The company lost 6 percent or 10 cents to its stock price and was closed for the week at $1.48 (market capitalisation of $4436.9 million).

Mirvac Group (MGR), a company that is involved in the real estate business is currently talking with two US based companies regarding the sale of Mirvac Industrial Trust. Among these two companies, one is privately owned while the other one is a listed company. These two groups have come forward to hold talks with Mirvac Group as the company called for expressions of interest in the portfolio of 66 warehouse assets located in Chicago previously in the current year.

Mirvac Group (MGR), which operates in both residential and non-residential real estate projects is planning to obtain the complete ownership of Mirvac Real Estate Investment Trust (MREIT), the listed associate of the group by a $338 million and scrip merger proposal.

Karoon Gas Australia (KAR), a company that focuses in exploration, identification and development of oil and gas reserves was the worst performer in the Australian Stock Exchange for the week. Karoon lost 27.9 percent to its stock price closing the week at $7.92. The company closed at $10.98 in the earlier week. The market capitalisation of the company was $1402 million.

Mirvac Group (MGR), a company that operates real estate business in residential and non-residential projects and involved in Real Estate Fund management was the worst performer in the ASX100 index for the week losing 7.4 percent or 10 cents in its stock price and was closed for the week at $1.18.

Goodman Group (GMG) which was previously Macquarie Goodman Group that operates in the business of, ownership, development and management of business and industrial spaces was the best performer in ASX100 adding 48 percent or 12 cents at its stock price. The list of best performing stocks for the week 23 of year 2009 was a mixture of Mining, Exploration and Real Estate companies: Goodman Group (GMG), Boart Longyear (BLY), Mirvac Group (MGR), Minara Resources (MRE).

Alumina (AWC), a major supplier of alumina and smelting operations which was enlisted in the Australian Stock Market in 1961 was the worst performer on the ASX100 that lost 20.8 percent or 39 cents.

Sydney based property investor group, Mirvac Group (MGR), announced that it expects to slash its dividends to its shareholders by 39 percent. Owing to the ongoing credit crunch in the global market, the company announced that the shareholders shall get a dividend of 20 cents a share in the fiscal year ending June 2009 as compared to last fiscal when they received 32.9 cents a share. It also announced that it expected a drop of nearly 24 percent in its earnings in its current earnings in the current year.

GPT Group was the overall worst performing stock taking in a 36.58 percent decrease. Among the worst performing stocks for the week 28 of 2008 on the Australian sharemarket were a mixture of real estate business and property management companies: GPT Group (GPT), Mirvac Group (MGR), Stockland (SGP), Macquarie DDR Trust (MDT). These worst performing stocks for week 28 of 2008 recorded losses above 17.39 percent and all of these companies were real estate companies.