KUALA LUMPUR: Mah Sing Group Bhd’s “loss” of two land deals is a blessing in disguise, Kenanga Research said. “Overall, we see the loss of KKCC and SSAAS land deals as a blessing in disguise as the market is fairly soft in Kota Kinabalu, Sabah while the very high-end residential market segment of SSAAS may require longer gestation periods,” Kenanga Research said. In total, Mah Sing is expected to have lost an effective gross development value (GDV) of RM3.07 billion. Hong Leong Investment Bank Bhd (HLIB) is mildly positive on both the new land deals and termination of the “old” deals. The firm said overall, the move would enable Mah Sing to refocus its strategy on Klang Valley area as well as affordability segment.

Source: New Strait Times July 04, 2017 05:47 UTC