Thursday, August 4, 2011

S P Setia on lookout for partnership, more land

KUALA LUMPUR: S P Setia Bhd said it was on the lookout for strategic partnerships and opportunities to increase its land bank.

It said on Thursday, Aug 4: 'Whilst S P Setia continuously assesses possibilities for strategic partnerships and landbanking opportunities, we wish to clarify that we are not currently in any acquisition / takeover talks with E&O or its shareholders.'

The property company was responding to an article in The Edge Financial Daily on Aug 2 entitled 'E&O shares climb further on takeover talk'.

The article also reported that SP Setia was among those rumoured to be keen on buying into E&O for its prime landbank in Penang.

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