SP SETIA AND KLK--- SELL

SP Setia Bhd (SPSB MK, Sell, TP: RM2.80) said the launch of its Setia 5/95 Home Loan Package in mid-January enabled the property developer to sell close to RM1bn worth of residential and commercial properties in the past six months ofthe year.

The sales figure is based on sales and purchase agreements signed. The bulk of the sales came from SPSB’sprojects in Penang and Johor. RM250m came from the Setia Eco Park project.

President and CEO Tan Sri Liew Kee Sin said the company will not be extending the 5/95 loan package scheme which ends on July 18, after which the company will be more focused on delivery on sales made. (The Malaysian Reserve)


Kuala Lumpur Kepong Bhd (KLK MK, Sell, TP: RM10.40), wants to restructure its retail operations Crabtree and Evelyn in the US, the details of which will be announced next week, said its group CEO Datuk Seri Lee Oi Hian.

Therestructuring involves its subsidiary in the US, where the main bulk of its losses were. He said that the group had to restructure that subsidiary and the US legal system allowed it to have certain restructuring. He hoped that once the restructuring was in place, Crabtree and Evelyn would breakeven next year. (Financial Daily)