Latest news on SP Setia (Jan 18)

Lately, SP Setia is in full limelight in local bourse due to some of the announcements made. And, yesterday, SP Setia was awarded a contract and proposed some of the corporate exercises subsequently. Below is some of the useful summary for investors keeping abreast with the latest developments:


The Bangsar land deal
  • SP Setia was acquiring a 40-acre land along Jalan Bangsar via a land swap deal
  • Government to acquire land in Setia Alam from SP Setia
  • Develop a fully integrated health and research complex to be known as 1NIH Complex in Setia Alam under the Ministry of Health's purview
  • Redevelop the swapped land into an integrated mixed residential and commercial project and give the Government a 20% profit sharing.
Source: OSK Research

The Proposed Corporate Exercises
  • Proposed private placement of up to 15% of paid-up share capital via book-building for the following purposes:
  • - RM6bn KL EcoCity, which comprises a corporate tower block and retail podium
  • - Setia City project, which comprises a convention centre, corporate HQ and related infrastructure
  • - Fulton Lane project. A residential condominium project in Melbourne, Australia
  • Proposed 1-for-2 bonus issue after the completion of the said private placement
Source: Company, OSK Research, RHB Research

Comments

Popular posts from this blog

"You Can Keep Your Existing Health Insurance"

5 Unusual Tricks to Help you Save Up

Things We Now Know