Genting Plantations' proposed Johor Tech Smart City development appears positive over the long term if executed successfully, Maybank IB analyst Ong Chee Ting says in a note. The project could unlock value from its landbank within the Johor-Singapore Special Economic Zone. The 2,300-acre project is expected to feature AI-driven agriculture, a technology and innovation hub, and renewable energy infrastructure, with a projected gross development value exceeding 80 billion ringgit. The development is aimed at creating recurring income streams, he notes. Maybank maintains a buy rating on Genting Plantations, and keeps target price at 6.93 ringgit, citing attractive dividend yield of over 5%. Shares are 0.2% lower at 5.23 ringgit. (yingxian.wong@wsj.com)
Genting Plantations' Johor Tech Smart City Could Unlock Long-Term Value — Market Talk
Earlier from Genting Plantations Bhd
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