Preferred bidder for Battersea. Sime Darby and SP Setia's joint bid has been identified as the preferred bid for the prime development site of Battersea in central London, with a potential GDV of GBP8.0b (MYR40b). While we are Neutral on the property outlook for London in the short term, this 10-15 year development project is positive for the long term. This JV is a win-win partnership, in our opinion. Our HOLD calls on Sime and SP Setia are maintained.

Click here for full report

Source: Maybank Research - 8 June 2012