city pacific , page-6

As stated on the previous report-Half Year Financial - Listing Rule 4.3a

A note I find interesting is the bottom of this share, and the strongest support imo should be $1.4589 per share. based on NTA per share. Not sure this measure the true value. Not sure what's the latest PE now .


Any thought?
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"The balance sheet of the company continues to remain strong while being supported by significant cash
on hand at period-end and conservative gearing. The company’s debt position operates well within debt
covenants and relates mainly to development properties with the term of individual debt components
linked to the term of individual property projects. Total debt stands at $207.75 million and the prima facie
debt/equity ratio is 1:1 and would be further enhanced if the company’s property inventories in the
balance sheet were to be recorded at valuation rather than cost. In addition, a material portion of interest
costs are naturally hedged by rental income generated from those properties. The company has no
exposure to US subprime markets or any other non-prime local lenders."