On Thursday, E&O proposed to sell 1.4 million sq ft of land in STP2A -- the land reclamation project in Penang developed by its 78.8%-owned subsidiary -- for RM766mil.
“We raise our TP (still based on a 70% discount to RNAV) to RM1.90 to reflect the higher-than-expected selling price of STP2A.
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