Steady as it goes........compared to 30 Jun09 (1Q2010) translation of A$ & NZ$ against S$, the A$ has appreciated from 1.1351 to 1.2334 (8.7%) and NZ$ from 0.9009 to 1.02 (13%).

Baring any currency surprises, the NAV in the 2Q2010 reporting (30 Sep09) should be about 50c.

In an interview with Chmn Ow a year or two ago, hospitality REIT was a possible route to realise SLL shareholder's value. However, for this to happen, SLL has to have a significant presence (like a hotel) in Spore. To date, this has not materialised.

The 'missed' opportunity to realised shareholders value was when Ow turned down the offer from an Australian pension fund to buy the group's hotel business for approx S$1b in Mar 08. What a waste!!

Nevertheless, SLL NAV as of 30 Jun 09 (1Q 2010) is 46c. However, the A$ has since appreciated from 1.135 (when 1Q 2010 was reported) to currently approx 1.22. This would increase current NAV to approx 49.5c......therefore, based on Fri close of 41c, SLL is still trading at a discount of 17% to its NAV. This discount will be even more if we take into account the current market value of SLL assets....(luxury hotels, properties and land bank).

Most property stocks have moved up fast with high volume but this is only starting to crawl. Slow and steady...?

the day u post" cheongwee will be coming in later..ard this time...20C

BTW..why u ask px???

In fact u check my post..ard 19/3 i post sucker rally begun...i was buying some 3 days before...

correction - volume should be 1.7M