could vpg tank..?, page-102

whits

Go back to the last annual report and do your sums again - remembering that VPG is retaining the lucrative management rights to the European property portfolio (the $9 bill plus European portfolio it's managing).

I'm very happy with my calculations.

NTA , NAV .. i already agreed on that technicality with jonkey .. at the end if the day they are assets.,, and the management arm is a valuable business last valued at $210 mill (goodwill NAV, not NTA as I already agreed with jonkey )

So I'm happy that the Asset/equity value should be around $800 mill in total post DUKE.

Comprised of $600 mill NTA for the Asia Pacific Property (after a $150 mill plus writedown) and $200 mill odd NAV for the European management rights.

Will the upcoming HY report be post DUKE ? .. I'm not sure, but this is how I value the portfolio right now post DUKE,