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Looks like a very cheap stock with super grade A commercial property in Shanghai bund. Trading at maybe 0.35x RNAV at current price? Cashflows should be able to support a 5+% dividend yield.
Probably not the best major shareholder (Sinar Mas group) for minority shareholders to invest alongside.
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Their images may not so good. But they paid good dividends, buying back shares as well as increased their own holding from around 65% to 83%. Prospect may not so bad as market assumes at such low price.
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The gem properties with this company are 50-yr leasehold until 2045, what will happen when the lease expired?