my revised nta calc arrives at 1.711, page-44

Further guidance on property values may be anticipated from this recent DPF/DPFI release

http://www.centro.com.au/NR/rdonlyres/41A4555E-9E52-4611-BABC-DDF41E7E7745/0/200812DPFDPFIInvestorReport19Dec08.pdf.

I am trying to get my head around the FX information. I am looking at the CER Annual report presentation. If anyone can explain "Forex equity hedging" for me (do they mean hedging of the loan amount) and why it is at 144% (is it due to the revaluations) for me I would appreciate it. http://www.centro.com.au/NR/rdonlyres/E2913F66-0453-4920-9C56-B99E30B188DF/0/CERFY08AnnualResultsPresentation.pdf pg 30.

Why do they need to do this if the income and liabilities are both in USD? Surely the income hedging is enough.

I also note a large Forex income increase for June 30 09 and onwards. Was this in anticipation of an increase in income that ain't going to come?