RHB Research upgrades SP Setia on possible M&A or privatisation

PETALING JAYA: RHB Research has upgraded property group SP Setia Bhd to a “buy” call, in anticipation of a possible corporate action involving a merger and acquisition (M&A) or privatisation of sorts.

The research house in a note to clients yesterday noted that the M&A or privatisation angle was possible for SP Setia as its current acting president and chief executive officer Datuk Voon Tin Yow would be stepping down on April 30 next year.