my revised nta estimate is 2.08 per share, page-2

3% drop? Are you kidding? US house prices are down 30% and dropping further. The reason that CER and CNP are in this trouble is they paid too much for their US and OZ retail assets in the first place. GR must be having the biggest laugh, first he sold new plan to Centro at its peak, making a massive profit. Then he joins Centro and becomes the so called saviour earning $1M's per year.

NTA is unknown because nobody knows how big the drop in property prices will be, we have fallen off the cliff and we are still falling.