newB, I too have no real idea why the SP is down ,down.I am...

newB,
I too have no real idea why the SP is down ,down.
I am really naieve as to understanding the many factors that can influence share price. Maybe the Coles add is having an impact on the psychque of share traders!
What I was saying in my previous post is that some of the difference between the NTA (58c) and the share price, may not all be attributed to a low share price, but to an inflated asset value.(Of which the Institutional investors may be aware or suspicious).
There can be many reasons why shareholders may not trust the NTA.
Similarly there may be concerns that the assets may not be able to perform at forecast levels.

Again I am literally not sure, but would the removal of capital gains tax benefits,for international investors in the residental market, scare off some potential overseas investors? You only have to look at many struggling property development companies,(or sections within companies)and somewhere along the line there will be optimistic comments about potential new investment from Chinese or Singaporian interests (with whom someone in the company has already commenced discussions !)
So I wonder if the loss of capital gains tax benefits applies to these circumstances, and if it does, it could be seen as the loss of a significant source of funds.
I would be very surprised if someone doesn't correct me on this but, like yourself, I know there must be some explanation and so it doesn't hurt to explore all possibilities.