Rowsley

Rowsley: Received regulatory approval for its first residential development, SKIES- part of the Vantage Bay integrated development in Iskandar Malaysia. The long-awaited launch now falls upon the last hurdle- for Rowsley to obtain an advertising permit and developer's licence, which they have commenced application on. The Vantage Bay development is planned to be an extensive township constituting a mega retail mall, hotel, serviced apartments and commercial offices, adjacent to the proposed medical hub to be operated by Peter Lim's other investment- Thomson Medical. The group remains debt-free, and trades at 2.7x P/B on the current price of $0.285.