Sold today. Thanks buyers. What's changed in the last week?...

Sold today. Thanks buyers.

What's changed in the last week? Nothing of substance that I can see. If anything it looks like the SGD/AUD cross is starting to move against ZGL and construction activity in Singapore looks increasingly uncertain:

"... while construction contracted 6.9 percent. The slowdown in construction was a result of a moderation in private-sector building activities, the trade ministry said. Singapore’s fourth-quarter home prices slid for the first time in nearly two years, data released today showed. The decline trimmed annual price gains to the smallest since 2008 as mortgage curbs cooled demand in Asia’s second-most expensive housing market."

http://www.bloomberg.com/news/2014-01-02/singapore-economy-shrank-last-quarter-as-manufacturing-faltered.html

I don't disagree that there's value within their construction and engineering units. But where's the evidence that any of the new tech/biotech businesses, on which so much emphasis is placed, have commercial potential? Sure, they might be inventive ideas. Sure, they might be supported by a company with cash. However, it doesn't follow that they'll make any money from them. Nor that the capital and energy being allocated to them wouldn't be better spent, say, expanding their existing construction and engineering units.

In time we might see them more as management distractions and less as opportunities.