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.
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Source: Maybank Research - 8 June 2012
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