not sure who is Bus Lao but Shang's recovery has just started to gain momentum last year whereby it ended FY24 with a small net cash; hammered badly during Covid. And not a good idea to expect Shang to achieve growth in performance as there are no new hotel/resorts being built; total number of rooms capacity is limited to the exiting assets if you will. Maybe Bus Lao is the type of person that makes conclusion by looking at the bar graph of performance?