Ann: COF FY23 Results Presentation, page-137

In addition to the valuations provided each half year, which are based on earnings, it would be helpful to have a value based on replacement cost.

In BWP they recently sold a property at twice the most recent valuation. Largely due to the location and the property will be redeveloped.

With inflation running the way it is, and value of land and building increasing exponentially, it would be interesting to know if the existing properties could be purchased and built for the existing carrying values.

I understand that purchasers of the properties will buy on a yield basis, however, unless new properties to be built can yield over 10 % it will be some time before new properties will be built as the economics wont stack up. This excludes properties current in the construction phase.

The big problem I see with working from home is primarily with public servants. Most other companies in the private sector have probably seen productivity plummet and teamwork disappear. When managers are absent from the office and they don't see staff for weeks or months the connection with organisations and managers disappears.

Eventually the public sector will wake up that they need to downsize, as the treasury coffers are bare and staff will be laid off. Who will go first, will be those who aren't seen very often. Its coming people, just you wait. The days of the magic pudding are drawing to a close.

Albo is desperately looking to tax people more. Watch out for the new government appointments and a number of new taxation measures.

GLTA