KDD Group’s portfolio value upgraded to USD 1.1 bln by Colliers

According to KDD Group (KDDG LN: N/R), the fair value of its projects, as appraised by Colliers International as of June 30, 2008 was USD 1.1 bln, 18.3% higher than on September 30, 2007. Alexander Romanov: We view this news as neutral for the stock. The value of the company’s portfolio grew insignificantly in 8 months and the growth was due solely to the increase in value of the existing projects being farther along in the development chain; no new projects were added to the portfolio since the previous appraisal.