MCW announced yesterday the results of its asset revaluation to 31 Dec 2009. Their australian Assets has increased in value by 0.3% unlike their assets in US and Europe which decreased slightly in value.
Between the 19th of Jan and 1 Feb, MCW was trading 55c- 57c range, and during this week the share price started to recover and gained around 15% especially after they announced the results of the revalution. According to the announcement, the NTA after the revalution will be 72c which reflect 17% discount to the current trading price.
If we make a quick comparison between MCW and ALZ, we will find that ALZ is trading at a much bigger discount to its NTA (around 35%). ALZ yield is better, and ALZ occupancy rate is better!
I am looking forward for the financial report next tuesday. I hope i have more cash to top up at the current ridiculous price.
half year results, page-6
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