peer review

The surprising SP movement during the past three days has drawn me to compare CER with its peers. Having invested in CNP and CER for nearly a year, I am not familiar with other property trust companies at all.

However I found other two companies have dived similarly to Centro.

VPG has come down from as high as 2.20 to 0.038 in a little over one year; MCW from 2.20 to 0.22. I knew little about them so I had a quick skip through of their recent annoncement and cannot find them in the same situation as CER, i.e. at the edge of a collapse. -- Is this right? In fact MCW will pay a divvy of 4C for this half. VPG although has cancelled the divvy but they did have a guidence of 7~~9 cps before.

It does seem that VPG has some financial difficulties but MCW has no debt due for 2009. -- as I said all these are my quick research please correct me if I am wrong.

But if these facts are right then there is no wonder CER is dumped even it is getting stablised. If a company like MCW paying 4c divvy still finish down 17% why would CER an exception, especially there is still uncertain future associated with it.And the highest SP for CER in the last two years was $2.


Of course the future of their bussinesses are something we have to consider. VPG has a lot of office and alike properties which are still on the way down? whereas Centro's business are more like grocery shopping? but MCW appears to be the same as CER?