Hello ironside were U at the AGM? looks like thw mgt not so interested in marking up the share price but only in the marketing and sale,P&L ,B/S the rest leave sto investing public,who cares after all they already got the $$$ from IPO and convertible loan,etc,the option is free at $1 nominal sum and they can definitely wait 5 -10 years no problem.

If U got spare cash...invest in Bukit Sembawang Better....I made  it to this counter.

Property Sector : Back With A Bang : OVERWEIGHT

We maintain our OVERWEIGHT stance on the property sector as we continue to see good value in property stocks. The residential property cycle has turned up and property stocks are still trading at an attractive 32% discount to the average upcycle P/B value despite the recent run-up in share prices.

Back with a bang. The private residential segment is on a recovery track, with the developer sales volume of 4,714 units in 2Q09 alone exceeding the 4,370 units sold for the whole of 2008. Price levels rebounded by 5-8% qoq in 2Q09 after a 30-40% fall from end-07 peak levels. With the resurgence of homebuyer sentiment, we expect price levels to firm up by another 8-10% during 2H09. Thereafter, prices are likely to rise in tandem with economic growth.

Structural transformation lends high degree of sustainability to the current recovery. Interest rates are drastically low in comparison to that during the Asian financial crisis. Net household wealth is double that in 1997 and household debt-to-asset ratios are at a 10-year low. Corporate balance sheets are also a lot stronger. Furthermore, favourable migratory patterns to Asia and Singapore's appeal as a top global city, as evidenced by the higher level of foreign participation, help support a sustainable recovery.

Supply glut has been overstated. The tight supply in the public housing segment, which accounts for 78% of the total housing stock, and the segment's narrow price differential with the private mass market segment support the overall private residential market. Moreover, the demand and supply dynamics are favourable to the private mass market and mid-tier segments that constitute nearly 80% of the private housing market. Also, the strong holding power of developers this time round lends them greater flexibility in releasing their high-end inventories.

Integrated resorts to spearhead re-rating. The two integrated resorts (IR) are expected to create 50,000 to 60,000 jobs and directly contribute S$5.4b to the Singapore economy, or 2.6% of GDP, by 2015. The IRs were the major catalysts of the last property boom by creating buzz for Singapore's transformation into a top global city in which to live, work and play. With their launches coming up in 1Q10, the IR theme should make a strong comeback towards the end of this year in the run-up to the IR openings.

Bukit sembawang Target Price $5.40 edge magazine..the true golden cross between the 100- and 200-day moving average has yet to take place by then the breakout indicates a target of $5.40 a level that was not unfamiliar to shareholders of this erstwhile blue chip.Long term indicators comfirm the target.

Hope solid base forming from 52-55cts,then when it runs ,it flies,like in the past,within a week 70-8--90-$1.00-$1.10 then comes down