p/e ratio, page-9

Hi defabs
Like most HC ites I am most gratefull for the quality of your contributions and the effort you obviously put in to give us a deeper appreciation of all things Centro, it is very, very much appreciated.

Just a note re your thoughts on MCS Syndicates,
As well as CER, I am an investor in a number of the Centro MCS syndicates.

You are right, Syndicates are illiquid investments, and to some investors this is a handicap, however I am not sure all MCS unitholders are desperate to exit their investments let alone approve of a change in RE.

Of the 5 MCS syndicates I hold,they show an average yield of 7.5% on present NTAs of around $1.45(well below their highs)
I am aware that there are other syndicates with very low NTA's(22c & 52c) and a small few not paying yields at all.

So it is a mixed bag, and any decisions to change would I assume be on a syndicate by syndicate basis by unitholders.

Keep up the good work.