Bursa Malaysia Stock Watch

Sime Darby (Hold): Off to a good start

kltrader
Publish date: Tue, 29 Nov 2011, 10:33 AM
kltrader
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Within expectations. 1QFY12 net profit of RM1,074m (-20% QoQ, +170% YoY) met 30% and 28% of our and consensus FY12 estimates. It is within our expectation given the relatively higher FFB output typically recorded in the 1Q of Sime's financial year. Maintain earnings estimates and Hold call with a RM8.36 TP based on 16x FY13 PER.

Maybank research (29 November 2011)

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