I think the point that most people seem to be missing is that not a single company listed on the ASX has assets listed in their accounts that are 100% accurate, RFF is no different.
Valuations are subjective, if you got 5 real estate agents round to value your house you'd get 5 different valuations.
Assets are only worth what someone else is willing to pay for them, you only know with 100% accuracy what they are worth when a sale contract is signed.
The difference with RFF is that they have no intention of selling their properties for the foreseeable future if ever.
The Balance Sheet is just a snap shot at a particular point in history, a rich Chinese buyer could approach RFF & offer them twice the value recorded in their books.
In 25 years time RFF could choose to sell a property at 3 or 4 times the current price, the value recorded in 2019 would be completely irrelevant.
Ann: Release of Bucephalus document, page-66
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Last
$2.01 |
Change
-0.010(0.50%) |
Mkt cap ! $780.3M | |||
| Open | High | Low | Value | Volume |
| $2.02 | $2.03 | $2.00 | $569.6K | 282.9K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 6 | 10783 | $2.00 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.01 | 1077 | 3 |
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| Last trade - 16.10pm 05/07/2024 (20 minute delay) ? |
| RFF (ASX) Chart |