news

S P Setia, Sime Darby Property shares fall after Anwar said M'sia to probe Battersea deal

KUALA LUMPUR (June 12): S P Setia Bhd shares slumped as much as 27 sen or 8% to RM2.93 after Datuk Seri Anwar Ibrahim said Malaysia will have to investigate the UK's Battersea Power Station property project in London. Anwar said Malaysia government-funded deals which are considered dubious will have to be investigated.

"Yes, that includes Battersea. Because they (the deals) were made using state funds. We have to be convinced that this was the right investment decision and that there was no political influence or direction [within Malaysia]," The Guardian quoted Anwar as saying.

Battersea Power Station's website indicates that the project is driven by backing from Malaysia-based entities S P Setia, Sime Darby Property Bhd and the Employees Provident Fund.

At Bursa Malaysia today, S P Setia shares were traded at RM2.95 at 11.59am with some five million units done.

Sime Darby Property shares fell as much as nine sen or 7% to RM1.20. At 12.11pm, Sime Darby Property shares were transacted at RM1.21 with about four million units changing hands. — theedgemarkets.com

For more stories, download EdgeProp.my pullout here for free.

Like our content? Check out Narratives – where we curate stories based on topics to keep you well and broadly informed about Malaysian real estate.

Looking for property? Check out Location Scan, where we summarize all available options and facts you need in a few clicks. We have updated the tool to include MRT3 stations too.

Curious how much you can borrow? Use LoanCheck to get your maximum loan eligibility from various banks, or LoanReport to get a FREE CTOS/CCRIS credit report.
SHARE
RELATED POSTS
  1. Sime Darby Property, LOGOS Property JV achieves first close of US$250 mil development fund
  2. TPC Kuala Lumpur reverts back to its previous name, KLGCC
  3. London’s first art’otel to open at Battersea Power Station this year