Top Story : Sime Darby – Is the worst over? Not yet, in our view - Underperform
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- In the first few weeks of his appointment, Sime Darby’s new CEO, Dato’ Mohd Bakke Salleh, has visited all the divisions, met with all the Heads of Departments, reviewed the Group’s long term 4-year plan and set out a strategic plan for all the divisions. On 24 Aug, the Board will meet to review the plan and the results of the forensic audit for the oil & gas division, after which the results for 4QFY10 will be released on 26 Aug. Any further provision required for the two uncompleted projects, (ie. MOQ and Bakun, which are 96% complete), would be done in the 4QFY10 results.
RHB Equity 360° - 5 August 2010 (Sime Darby, Market, Affin, AirAsia, KFC; Technical: TDC, Kinsteel)
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