Looks like they will have more assets even after write down. Same thing should happen to Centro. Centro may have positive asset revaluation due to exchange rates.Just my thoughts.
Westfield's writedown represents about 7.1 per cent of its $42.1 billion in assets, based on figures reported by the company in November.
"However the total value of the group's assets as at December 31, 2008 is anticipated to exceed the $50.4 billion reported as at June 30, 2008, primarily as a result of the effect of the strengthening US dollar on the value of the group's US assets."
CNP Price at posting:
7.8¢ Sentiment: None Disclosure: Held
