it might not be undervalued at all, people are not spending as...

it might not be undervalued at all, people are not spending as much in malls, more companies are going to go bankrupt, more vacancies, gearing is going to get even higher due to falling shopping centre values, assets can't be sold in this climate, distributions may be possible but management could easily decide to use it to pay off debt instead of distributing it to shareholders, i don't think the odds are in centro's favour at all