$CityDev (C09.SG)$ The earnings for 2nd half year is 250 mil...

The earnings for 2nd half year is 250 million SGD which is a big improvement though full year earnings drop without exceptional items to sell to push up the profit compare to FY2022 with exceptional items. The earnings is still considered quite good given such a challenging environment with high interest rates and cooling measures. The cash flow is still very strong with 2 billion SGD cash on hand. The RNAV is $17.21. The current share price is attractive and very cheap compare to RNAV and at big discount. The share price is worth $8.60 after applying 50% discount to RNAV. This is my view. DYODD.