0226 GMT - SD Guthrie's recent deal to co-develop a MYR2.95 billion industrial park in Negeri Sembilan, Malaysia, appears to be a positive move, says Hong Leong IB analyst Chye Wen Fei. The deal reaffirms the palm oil producer's effort to monetize its strategically located landbank while leveraging its partners' expertise, the analyst says in a note. SD Guthrie will hold a 30% stake in the 1,195-acre project with Eco World Development and NS Corp. Hong Leong raises SD Guthrie's rating to buy from hold as its valuation turns attractive following the recent sell-down, while maintaining a target price of MYR5.09. Shares are 0.7% higher at MYR4.63. (yingxian.wong@wsj.com)
(END) Dow Jones Newswires
April 20, 2025 22:26 ET (02:26 GMT)
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