SIME Darby has been downgraded to hold by HLG Securities Research following its 15% increase in share price over the past two weeks. It added potential company-specific positives, for example Bakun and also cost savings from future restructuring seem priced-in at current levels. On Sime Darby’s involvement in the submarine cable project from Bakun dam to Peninsular Malaysia, it was reported that the government had agreed in principal for Sime Darby to take control of the 2,400MW Bakun dam.
(9-1-2008 The Edge)
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