current market cap around 110m. Its properties 1) brand new freehold 8 storey building at kim chuan $60mil, 2) freehold 7 storey building at genting lane $40mil, 3) freehold jln besar 2x shophouses $10mil 4) freehold hoe nam 4x office spaces $5mil 5) cash in hand in excess of 60mil.not adding up its leasehold ppties, inventories & goodwill. sum of 1 to 5 makes up some $175mil already. Hence its easy to see how Hupsteel is severely undervalued. Its steel business is weak. Other companies eg Asiaenterprise and cosmosteel which supplies similar steel products are reporting weak results too. Rig and ship building activities are down which explains most of these weak results. Downside appears limited because of heavy asset backing nil debt n dividend. Its not dependent on interest rates as it has virtually nil debt. Hupsteel is 70 years old this year. Will we see hupsteel huat ......