SP Setia downgraded, stock climbs

Posted on | March 19, 2010

By BLOOMBERG


SP Setia Bhd, Malaysia’s biggest property developer, was downgraded to “market perform” from “outperform” at RHB Research Institute Sdn Bhd, which said the share price is in line with the market return.

The stock, however, rose in Kuala Lumpur trading, set to become the second-best performer among the nation’s real-estate stocks today, after first-quarter net income rose 22 per cent.

SP Setia climbed 1.2 per cent to RM4.20 at 9:06 am local time.

- Malaysia Property Stocks

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