Allied Farmers' share price has slipped to a record low of 5c.
On Friday, the finance and rural services compabny said the assets it had acquired from Hanover and United Finance are now worth $124 million - less than a third of the $396 million purchase price late last year.
But managing director Rob Alloway insists it's still a good investment for the company and investors. He blames the drop on bad loans and falling property prices.
Shares in Allied Farmers fell 0.1c to 5c by close on Tuesday. They have lost more than 75% of their value in the past six months.
