Thailand's Ratchaburi Electricity Generating Holding has been telegraphing its punches on coming to Australia well ahead of Transfield Services Infrastructure Fund breaking its cover yesterday.

There were no obvious end-of-quarter shifts by fund managers.

Expansion plans seem not to be backed by any great performance.

CEO believes hard work is ahead in takeover, writes Eric Johnston.

On the face of it Qantas would be a prime contender for the ASX award for continuous disclosure (if there was one). Over the past few months barely a fortnight has gone by without some update on how it is travelling financially.