aazpb assets stepped up

Given step up for AAZPB, I did a calculation of rate of return for this hybrid for varying redemption dates. These are per annum rates of return (mostly capital gain): All great rates given Capitaland owns 54%, and rights issue is going ahead with Capita confirming their $300 million contribution. AAZPB probably worth buying given 54% major shareholder is biggest property developer in South East Asia with market cap currently S$16.5 billion


per annum return to

31-Dec-08 54%
31-Mar-09 41%
30-Jun-09 34%
30-Sep-09 30%
31-Dec-09 27%
31-Mar-10 25%