External broker reports(aggregated public sources), Public Investment Bank Bhd

Public Investment Bank Bhd

Public Investment Bank Berhad provides investment banking services. The Company offers corporate finance, banking, securities financing, capital market, treasury, and advisory services.

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

External broker reports(aggregated public sources)

Equity Bottom-Up

<ul><li>SP Setia announced that Petaling Garden Sdn Bhd, an indirect wholly-owned subsidiary of the Group, had entered into three inter-conditional sale and purchase agreements with three wholly-owned subsidiaries of Mah Sing Group Berhad to dispose approximately 500 acres of freehold land (Glengowrie land) located at Daerah Ulu Langat, Selangor for a cash consideration of RM392m.</li><li>Though gain from the land sale is only expected to be about RM31m, the sale more importantly in our view, shows the Group’s commitment to right-size its huge landbank (about 7,500 acres with estimated RM128bn gross development value (GDV)) and its burdensome debt load.</li><li>We estimate the land disposal could reduce its net gearing from 0.56x to 0.53x. </li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

SP Setia announced that Petaling Garden Sdn Bhd, an indirect wholly-owned subsidiary of the Group, had entered into three inter-conditional sale and purchase agreements with three wholly-owned subsidiaries of Mah Sing Group Berhad to dispose approximately 500 acres of freehold land (Glengowrie land) located at Daerah Ulu Langat, Selangor for a cash consideration of RM392m.Though gain from the land sale is only expected to be about RM31m, the sale more importantly in our view, shows the Group’s commitment to right-size its huge landbank (about 7,500 acres with estimated RM128bn gross development value (GDV)) and its burdensome debt load.We estimate the land disposal could reduce its net gearing from 0.56x to 0.53x. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

SP Setia Bhd

SP Setia - Sells 500 Acres For RM392m