YTL Land target price revised downward

Project launches at Pantai Peak are likely to be postponed to second half 2008 due to slower-than-expected approval from the authorities, says DBS Vickers ResearchDBS VICKERS Research has cut its target price on shares of YTL Land Bhd by 18 per cent, citing a delay in project launch.The research house has revised its target price to RM2.70 from RM3.30 previously."Project launches at Pantai Peak are likely to be postponed to second half 2008 due to slower-than-expected approval from the authorities."We understand that the relocation of the current access to the development is slowing the speed of the approval," DBS Vickers said in a report yesterday.Read more>

(New Straits Times 20-2-2008)