Report: SP Setia may be affected by Brexit

Exit fear: OUB Kay Hian says SP Setia’s longer-term earnings may be impacted by lower take-up rate of its Battersea Power Station project emanating from uncertainty of prolonged economic slowdown and sentiment in the event of Brexit.

PETALING JAYA: A number of Malaysian companies with investments in Britain would be affected should Brits decide to leave the European Union (EU) in a referendum on June 23, UOB Kay Hian said in a report.

The research house said property developer SP Setia Bhd, which has a big exposure to Britain due the Battersea Power Station project would likely be affected. It derived 40% of its earnings from the London project.