- Half the battle won. The Mayor of London, also chairman of Transport for London, publicly gave his commitment and support to the Battersea Power Station (BPS) redevelopment and timely construction of Northern Line Extension (NLE) at last Wednesday's completion event. We are optimistic that this GBP8b GDV project will proceed as planned, as the crucial outline planning permission is in hand. The soft launch of the GBP1b GDV Phase 1 may take place as early as Dec 2012/Jan 2013. Maintain BUY on Sime, HOLD on SP Setia.
Source: Maybank Research - 11 Sept 2012
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