Fitnfam, agree with you. We should expect some return after deleveraginng process.
The 2010 total impairment of $670 millions charges against our assets (with majority are from alinta WA) which have decreased our net asset value from $1.31 to 51 cents. The current net assets value have taken into accounts of current best estimate market value of our total assets (with inputs from first round bids). After current impairment, our assets are more attractive to suitors and cost less for them.
Looking at Prime Infrastructure, their total impairment for 2010 are more than 1 billion. It also included an impairment of $662.6 millions against Alinta legacy assets. After PIH current massive write-down of assets. Brookefield bought the rest of the company at that post-write down price.
Our current net assets will not far from realistic market values.
AEJ Price at posting:
5.0¢ Sentiment: None Disclosure: Held
