Sources say PNB (Permodalan Nasional Bhd) and Mah Sing are said to be looking at jointly developing some of PNB’s strategic landbank in the KL city centre and Johao Bahru. Over past few months, PNB has been buying aggressively into Mah Sing’s shares. PNB is now a substantial shareholder of Mah Sing. Besides PNB, Felda, Credit Suisse and JP Morgan are holding substantial shares in Mah Sing also.
An industry observer says Mah Sing’s business model is attractive with much of its land bank in prime location. Also, the company’s margin is good as most of its lands were acquired at low prices. (mailed to members at 7.00pm 10/5)
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