JIntao
Dec 2008 is not over a year ago by my calendar, the NTA is actauly $1.45, reduced for intangibles (which have value) to $1.05
Intangibles are the historical costs paid for the Funds Management Business, these must have some value as they provide regular fee income.
Jintao please state facts. I am in worse position to you, whilst I don't want to appear optimistsic, I cannot agree with total fear statemnents not based on any credible fact.
As an example the Finb Review etc state that GPT is debt laden, in fact their gearing ratio is only 33.7%, one of the lowest in the REIT Sector
Much higher than Westfield , yet there is no talk about "debt laden Westfields"
dead cat bounce!, page-23
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