KUALA LUMPUR, May 8 (Bernama) -- Sime Darby Plantation Bhd’s (SDP) shares on Bursa Malaysia rose in the early trade today, following news of its participation in the proposed Kerian Integrated Green Industrial Park (KIGIP) in Perak.
At 11 am, SDP’s shares increased by 19 sen to RM4.67 per unit, with a total of 1.99 million shares changing hands.
Maybank Investment Bank Bhd has upgraded its call on SDP to ‘buy’ as it sees SDP as a potential beneficiary of green industrial parks, Large Scale Solar (LSS) 5 and data centres demand in Malaysia, given its vast landbank.
“Renewable energy (RE) has been identified as a key strategic pillar, and a sizable revenue source to SDP within the next five years," it said.
Meanwhile, Kenanga Research noted that KIGIP aims to draw green electrical and electronics (E&E) investments and ease current and prospective labour, land and even water issues in Penang.
It added that the impact of its participation in KIGIP on financial years (FY) 2024 and FY2025 forecast earnings for SDP may be minimal as KIGIP is still in the early stages of planning.
“Development earnings can also be expected but not likely over the next 12-24 months," it said, adding an ‘outperform’ rating for the group.
-- BERNAMA
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