RHB Research has maintained its Overweight rating on the property sector and said Tambun Indah Land Bhd (TILB), Global Oriental Bhd (GOB) and Malton Bhd were the clear beneficiaries from development worth a gross development value (GDV) of RM11.3 billion at Batu Kawan, Penang.
In a note Monday, the research house said Penang Development Corporation and Temasek Holdings will jointly develop Penang International Technology Park (PITP) and Business Process Outsourcing Prime (BPO Prime) on a 207-acre site at Batu Kawan, worth a GDV of MYR11.3bn.
“Spillover from catalytic developments will continue and we reiterate that TILB, Global Oriental and Malton are clear beneficiaries given their landbank exposure,” it said.
In a note Monday, the research house said Penang Development Corporation and Temasek Holdings will jointly develop Penang International Technology Park (PITP) and Business Process Outsourcing Prime (BPO Prime) on a 207-acre site at Batu Kawan, worth a GDV of MYR11.3bn.
“Spillover from catalytic developments will continue and we reiterate that TILB, Global Oriental and Malton are clear beneficiaries given their landbank exposure,” it said.
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