my reasons for holding cnp, page-75

Tigert,

Don't be so sure that there will be write-downs next quarter (or significant ones). The write-downs had to happen. It's a property trust therefore it has to distribute profits. If there weren't any write-downs CNP would have had to declare a dividend. A dividend that would have been very untimely for the group and an annoyance to its bankers. There is accounting gymnastics in CNP's books. be sure of that. I am of the view that write-downs next half-year or for the full year will be effected merely to wipe out Net Profit to preserve cash.