S P Setia set to gain better value for its land in Johor

PETALING JAYA: The surprise cancellation of S P Setia Bhd’s land sale in Johor to Scientex Bhd is disappointing, but could turn out to be an advantage, says Maybank Investment Bank Research (Maybank IB Research).

“While the cancellation will slow down S P Setia’s plan to de-gear, it could be a blessing in disguise given the improving outlook of the Johor property market, which could allow S P Setia to price the land higher,” it added.