Tanjong Plc, a Malaysian power and gaming company whose shares were suspended yesterday pending an announcement, may spin off its power unit to unlock value or acquire electricity generation assets, according to JPMorgan Chase and Co.
Both options have been expressed by management as being part of its long term strategy, JPMorgan analyst Simone Yeoh said in a report dated July 28.
Still, power acquisitions are more likely for now as any spin-off of its energy division may take time to implement given the lull in equity markets, she said. -- Bloomberg
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