S P Setia on lookout for partnership, more land

KUALA LUMPUR: S P Setia Bhd said it was on the lookout for strategic partnerships and opportunities to increase its land bank.

It said on Thursday, Aug 4: "Whilst S P Setia continuously assesses possibilities for strategic partnerships and landbanking opportunities, we wish to clarify that we are not currently in any acquisition / takeover talks with Eastern and Oriental Bhd (E&O) or its shareholders."

The property company was responding to an article in The Edge Financial Daily on Tuesday entitled "E&O shares climb further on takeover talk".

The article also reported that S P Setia was among those rumoured to be keen on buying into E&O for its prime landbank in Penang.