SINGAPORE (Oct 21): Shangri-La Asia — owner of Shangri-La Hotel on Orange Grove Road, Shangri-La Apartments on Anderson Road, Shangri-La Residences on Ladyhill and Tanglin Place on Tanglin Road, which are all situated on freehold land in Singapore — has fallen some 60% from its HK$18 high in January 2018, and is now hovering around HK$7.84. At this price, the stock is trading at just 0.58 times its net asset value (NAV) of US$1.73 per share. Price-to-net asset value (P/NAV) is at its lowest level since 2015 (see Chart 1). 

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