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