buy or sell, page-14

Well stated Sydney, A note to look at with this reit is that they revalued 100% of the properties whereas the other reits only revalued a sample of around 40%. So one could say this is the most accurate and honest of the revaluations of the reits I have looked at.

I agree that the NTA is lower than some expected but a share value of 20c per share is now not out of the question and should reasonably be expected this year.

I think if you really look at what they have presented its much more palatable than some others, cer for example had a two billion writedown and only a sample was revalued.

The covenant renegotiations seem to be of great benefit, and if the LVR can be reduce even more in the next half, then NTA should rise accordingly.

Not great but reasonable result for the half IMO......They obviously have been working to reform the company. Plenty of breathing space now, just will keep topping up with what I can afford.