Why the sell down???
Because of not listing in MSCI index???
What the big deal???
Going to announce results on 8/9 December 2012.
SP Setia says it has entered into a RM845m privatisation agreement with the federal government to develop an integrated health and research institute in Setia Alam, Selangor. In the agreement with the Ministry of Finance’s Syarikat Tanah dan Harta Sdn Bhd, SP Setia’s 50%-subsidiary Sentosa Jitra Sdn Bhd (SJSB) will develop 16.6ha of land in Setia Alam for the institute, in return for a 20.9ha piece of land located along Jalan Bangsar, Kuala Lumpur. SJSB will design, build and test the integrated centre through to its commissioning for the Ministry of Health within 48 months of the start of construction. The RM845m project consists of a fully-integrated health and reserach institute in Setia Alam and 24 apartments with a polyclinic and dental clinic in Bangsar. In addition, SJSB is to pay the government RM217.11m, being the minimum guaranteed profit for the mixed development that SJSB proposed to undertake on the piece of land in Bangsar. (Malaysian Reserve)