The essence is that profits have been generated by dubious revaluation of assets.
How is that even possible for these assets?
You go to an independent valuer & ask them to value them, it's not like there isn't an open market for agricultural assets in Australia!
They buy assets, improve them & they are revalued. Not rocket science.
False rents suggests fraud &/or collusion with some very large companies ( select investments & treasury wines?).
What possible evidence could they have for that?
Are they suggesting the rent wasn't paid? Not difficult to check for PWC.
They would have signed lease agreements.
I find it incredibly hard to believe the assets are overvalued as suggested & the suggestion the company is worthless is only valid if the debts are greater than assets.
Sure you could get a different valuation by another valuer but not materially, at least you shouldn't if the auditors have done t their jobs!
The whole management fee thing is a different issue but if true means that RFF results have been understated & should have been better.
My suggestion would be to wait to see what the mngt response is before jumping to any conclusions.
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$2.06 |
Change
0.030(1.48%) |
Mkt cap ! $795.8M |
Open | High | Low | Value | Volume |
$2.04 | $2.06 | $2.04 | $183.7K | 89.57K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
34 | 30129 | $2.05 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$2.06 | 9285 | 17 |
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No. | Vol. | Price($) |
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32 | 26548 | 2.050 |
13 | 18290 | 2.040 |
10 | 13169 | 2.030 |
7 | 8561 | 2.020 |
11 | 62575 | 2.010 |
Price($) | Vol. | No. |
---|---|---|
2.060 | 11888 | 17 |
2.070 | 37750 | 17 |
2.080 | 15121 | 12 |
2.090 | 6692 | 6 |
2.100 | 11786 | 11 |
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