rationale for pullback, page-2

Much more straightforward reason for the pullback..

The outlook for 2010 has been presented as still pretty challenging in terms of valuations and rents, particularly for overseas markets re: US in particular.

Hence, REITS which have o/s exposure and/or needing to deliver asset sales to reach agreed debt targets (which is earning per share dilutionary) have been marked down.

Bottom line is insto's with this outlook are redirecting funds to other opportunities as reporting has delivered pretty uninspired results..

Personally I believe MOF has not done anything to deliver confidence in its share price by not providing any decent guidance on earnings and dividends for 2010.