NTA is not everything
Not all businesses rely on assets to gauge a share price.
Money is not always earnt by owning assets.
In CNPs case, they earn money from developing shopping centres, Funds managements and property management as well as rental income.
an example would be wesfarmers... coles etc
http://theaustralian.aegis.com.au/Equities/Company/Financials.aspx?SecId=wes
Note the NTA per share in 2008
nta is zero(negative) but sp is positive?, page-2
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