Construction cranes are seen in operation around Battersea Power Station in the Nine Elms area of London, Britain, October 25, 2017. - Reuters filepic
KUALA LUMPUR: The proposed sale of Battersea Phase 2 to a joint-venture company to be formed by Permodalan Nasional Bhd (PNB) and the Employees Provident Fund (EPF) “need not necessarily be a bailout” because the two funds have deep pockets and essentially are asset managers seeking recurring and steady returns from investments, analysts said.
Two analysts, both of whom declined to be named, reckoned that the funds would get an annual yield of between 4% and 5% from the office space, but were uncertain about what the retail rental would be. Phase 2 also has 254 units of residentials, of which 90% have already been sold.
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