Just loking at PBD on the surface , it dont look that bad to me...

Just loking at PBD on the surface , it dont look that bad to me . Point grey and oceanic is only 90 km south from central Perth. The apartments are a bit overdone but they will sell eventually sell . Agree PBD has no money to develop Point Grey , and in the current climate FKP would be foolish to take it on to develop it.
But with all the develpment permits in place , Point grey is worth every cent of the ($50mil from memory) in todays market . PBD and FKP will have no trouble selling the development site.
For me liquidation of this company seems to make sense , give the shareholders 1. something close to NTA back , but I can,t imagine directors keen to liquidate ,