Red

If I were a real investor ... lol ... I mean such as an entity like K I am less concerned with what the current stock price is provided I can get my investment at a reasonable value. With SGX's crrent market cap I would say comparatively it has been beaten to a pulp and provides extreme value for a "real investor" who is looking for the end game.

When we look at it, we see a company that is burning cash and will likely need more in the not too distant future. from the other perspective (ie a "real investor") they are looking for potential. If a property can be spun off/sold/worked more for more cash they will put it in gladly.

It's all about market cap and intrinsic value which unfortunately, is not and may not ever be fully reflected in the SP of sage ... until/if there is a buyer.