Oct 20 (Reuters) - Sunland Group Ltd SDG.AX :
* DIRECTORS HAVE UNDERTAKEN A STRATEGIC REVIEW OF ITS OPERATIONS
* PROPOSES TO SELL CERTAIN INVENTORY NOT CURRENTLY UNDER DEVELOPMENT AND COMPLETE DEVELOPMENT OF CERTAIN OTHER PROJECTS
* PROPOSES TO SELL CERTAIN INVENTORY WHICH IS NOT CURRENTLY UNDER DEVELOPMENT
* OBJECTIVE OF STRATEGY TO RETURN TO SHAREHOLDERS CURRENT NET ASSET VALUE, WHERE POSSIBLE, OF ABOUT $2.56 PER SHARE BY WAY OF DIVIDEND & PAYMENTS