Excluding EI, above our forecasts. Sime Darby’s FY06/10 core net profit came in above our expectations, at 115% of our forecasts. In 4QFY10, Sime recorded more EI losses for the E&U division of RM777.3m, which include RM213m in write-offs for its groundwater project; RM61.2m of losses for impairment in investment in the healthcare sector and RM18.2m in unrealised forex losses, bringing total EI loss for FY10 to an estimated RM1.95bn. Management did not breakdown the EI losses for the E&U division by project, as it did not want to jeapordise its VO recovery.
Corporate Highlights...-27/08/2010
No comments:
Post a Comment