Property privatisation opportunities open up

“Our top fundamental picks are Sime Darby Property Bhd and IOI Properties Group Bhd, while we recommend UEM Sunrise Bhd and S P Setia Bhd as potential rebound plays from oversold positions," Kenanga Research said.

PETALING JAYA: The poor performance of property stocks due to the ongoing market sell-off is expected to open up a window of opportunity for substantial shareholders to privatise their listed companies at bargain basement prices.

Kenanga Research, in a report yesterday, said the Bursa Malaysia Property Index’s (KLPRP) poor performance over the past three years has affected the valuations of property stocks down to “distressed levels.”

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