This will place it as the largest listed plantation company in Malaysia, with IOI and KLK coming in second and third with market caps of RM29bn and RM26bn, respectively,” it said.“We are of the view that the attraction of Sime Darby’s property division lies in its access to strategic land banks in Malaysia. SD Prop is also Malaysia’s largest property developer in terms of land bank.“The group has 23 townships/developments and approximately 28,000 acres of land. This division will benefit from potential opportunities around Malaysia Vision Valley, Carey Island and High Speed Rail. We place a value of RM16bn for this division (based on P/BV of 1.6x) in our SOP,” it said.“The industrial and motor businesses together with the logistics and healthcare divisions will remain in Sime Darby after the spin-off of the property and plantation units. Maintain Add as positive on plans to unlock value,” it said.

Source: The Star January 27, 2017 00:56 UTC