(SIME MK/HOLD/RM9.00/Target: RM8.55)
SIME’s 1QFY18 results are within expectations. The stronger yoy results were supported by earnings improvements across all divisions. The listings of the plantation and property divisions are on-track and targeted for 30 Nov 17. Post listings, Sime Darby Plantation will be included in the FBMKLCI index, but Sime Darby Bhd and Sime Darby Property are at risk of being dropped from the index pending a review. Maintain HOLD. Target price: RM8.55. Entry price: RM7.70.
Source: UOB Kay Hian Research - 17 Nov 2017
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