The December valuation update for CDC (and indication of impact on the Morrison & Co performance fee) has been released to the ASX this motning:

https://www.asx.com.au/asxpdf/202301...qhg4k5lv1y.pdf

Appears that the valuation takes into account the large future build plans, which have outweighed a higher cost of debt. Interestingly they are saying the the valuer has reduced the cost of equity since the last valuation date.