Research house positive on Tasco land buy
PETALING JAYA: Tasco Bhd ’s net gearing is expected to increase from land acquisition in Port Klang, according to MIDF Research.
Overall, the research house said it is positive on the proposed acquisition due to the strategic location, which is close to the logistics centre, and the expansion of Tasco’s capacity for its cold supply chain business.
Tasco’s net gearing will increase to 0.52x from 0.45x as at Dec 31, 2018, which is manageable for the company.The research house pointed out that the expected gearing level has included the effects of 30% divestment of Tasco’s cold supply chain business to Japan Overseas Infrastructure Investment Corp for Transport and Urban Development.
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