The exposures to WA and SA concern me too but depends a lot on...

The exposures to WA and SA concern me too but depends a lot on the property valuations. Are the valuations aggressive or conservative? If the latter, then there may be more upside potential as those economies recover. On the other hand, the P/NTA of this float may be low prima facie because of aggressive valuations which may have inflated the NTA. Just putting some risks out there guys!