Malaysia Property News is a free resource website sharing Daily Property News & information about Property in Malaysia, which related to, Property Market, Property Investment, Commercial Property , Hot Properties Malaysia, Real Estate, Retail Shop, Business Park, Condominium Malaysia, Terraces & Apartment Malaysia, Houses, Residence, Resort and many more.

Friday, September 9, 2011

Risk profile change for Bandar Raya Developments

PETALING JAYA: The proposed sale of Bandar Raya Developments Bhd's (BRDB) investment properties to major shareholder Ambang Sehati Sdn Bhd will have a negative effect on BRDB's business risk profile over the longer term, according to RAM Ratings.

In a statement yesterday, it pointed out that should the proposed deal go through, BRDB would be divesting all of its investment properties, which have been providing a stable source of recurring rental income.

“The divestment will steer BRDB towards becoming a pure property developer. This, in our opinion, heightens the group's business risk,” said RAM Ratings.

By The Star

No comments: