Cautious outlook for Tiong Nam’s latest JV

MIDF Research says the proposed project, which is in a joint venture with JLand Group Sdn Bhd, will also be fully funded by Tiong Nam with bank borrowing and advances from shareholders. — Bernama

PETALING JAYA: MIDF Research is cautious on Tiong Nam Logistics Holdings Bhd’s move to buy and develop 300 acres in the Sedenak Tech Valley logistics park with industrial properties, as it anticipates the project has a long gestation period.

The research house said the proposed project, which is in a joint venture (JV) with JLand Group Sdn Bhd, will also be fully funded by Tiong Nam with bank borrowing and advances from shareholders.