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Friday, March 19, 2010

SP Setia downgraded, stock drops

SP Setia Bhd, Malaysia’s biggest property developer, fell to a one-month low after the company was downgraded at RHB Research Institute Sdn Bhd, which said the share price is in line with the market return.

The stock dropped 4.1 per cent to RM3.98 at 4:10 pm local time in Kuala Lumpur, set for its lowest close since February 22.

The company had its stock rating cut to “market perform” from “outperform,” RHB said in a report today.

By Bloomberg

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