re: Ann: Update on asset revaluations and fin... As at 30 June...

re: Ann: Update on asset revaluations and fin... As at 30 June the gross valuation was USD280mil. Since have sold circa USD80m (realising a loss of circa USD15M). As at 30 June 08 provision for doubtful debts of USD37M, so notional net value at 31 Dec 08 was by ny calcs USD167M. This has per the announcement now been revalued to USD145M...hence I'm not overwhelmed by the writedown.

If they could selll them, I'm sure they would. In fact there are probably 3 ~ 4 majors which at fairt value sold would be sufficient to retire CS and move on.

Possibly RAT are just sticking it to CS!

Notably, the market doesn't share my feelings of indifference to the announcement. Lol