From Kim Eng:

Holiday deals for investors – Thanks to the two integrated resorts in Singapore and the economic resilience in Asia, the Singapore Tourism Board reported yet another record for visitor arrivals to the
Republic in August, the ninth in a row. Changi Airport also posted strong growth in passenger traffic for September, noting that both Southeast and Northeast Asia were the most popular destinations. Hotels, resorts and serviced residences in Asia are therefore among the key beneficiaries of this rising trend of short‐haul regional travel.

Trading at 0.5x P/B, Gallant Venture appears to be the most undervalued resort play that is benefitting from an influx of Singaporeans to Bintan.

Gallant Venture (GALV SP, $0.2 – This counter
is poised for more gains and is attempting a breakout
around $0.29 level. Short‐term indicators are rising,
suggesting the momentum is gaining strength.