kltrader
Publish date: Tue, 03 Apr 2012, 09:38 AM
kltrader
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SP Setia (BUY)
  • SP Setia and Rimbunan Hijau Group have entered into a JV FrameworkAgreement ('JFVFA') with Qinzhou Jingu Investment Co, Ltd to set up a JVcompany to develop, construct and operate the China-Malaysia Qinzhou Industrial Park ('QIP')on ~13,590 acres of mixed development land. 
  • Recall that the QIP was proposed by the Chinese Premier to Malaysia'sPrime Minister during last year's Malaysia-China Economic, Trade &Investment Cooperation Forum.
  • We see this deal assignificantly enhancing its share performance prospects.  Given that SPSetia's valuations are well below UEM Land's, we upgrade to BUY, and raisetarget price to RM4.39 (10% discount to RNAV).

Source: HLIB Research - 3 April 2012 
Discussions
1 person likes this. Showing 1 of 1 comments

Jake

The warrant is trading at a discount now...maybe a cheaper entry.

2012-04-06 16:53

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