24-01-2012, 09:06 AM
There is difference here. Haw Par is a pure holding company. In this case the shareholder has created value - it has actually sold the asset & profit to book. It has stick to its business of property which probably is not the case with two. To me its more like OUE where market ignored it - till one day market realized that its shareholder actually created value at 1 Collyer Quay, 1 Raffles Place or at Meritus Mandarin.