Macau residential property prices were up 20% quarter over quarter in Q1, now averaging HK$7,200/sqft. Great news for MPO:LN and 184:HK. Keck Seng's flats are now worth roughly 50% more from the last time they sold one in H1 2012. I'm pegging KS's stake in properties held for sale in Macau at at least HK$2B and the Investment Properties in Macau at HK$1.2B, and that's not taking into account the likelihood that half the properties for sale are worth 50% more given the premium being paid for whole blocks of serviced luxury residential properties. I know this sounds crazy but I think the entire value of Macau could now be HK$3.5B vs. a market cap of HK$1.4B. Add in the cash, Vietnam, the U.S., and the others, consider the dividend track record, and this is the definition of a no brainer. Keep adding.