Sunway to dispose of land and buildings to its REIT

AmInvestment Research picked Sunway Bhd (Buy, FV: RM1.65) given that its local property launches have been generally well received due to good locations.

PETALING JAYA: Sunway Bhd has proposed to dispose of selected land and buildings to its real estate investment trust (REIT) for a total cash consideration of RM550mil.

The property and construction group said the proposed disposal was expected to improve the group’s cash flow and result in a net cash inflow totalling RM311.3mil.