Sime Darby downgraded to hold

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)

Ara Hill’s Final Phase Gets RM50m Sales

PETALING JAYA: Sime Darby Bhd’s property division, which launched the final phase of the RM300mil Ara Hill in November, has seen sales of RM50mil over a one-week period for the remaining resort villas and condominium units. The 16-acre Ara Hill is located within the 762-acre Ara Damansara development. The final phase comprises 182 resort condominiums and resort villas.

(1-1-2008 The Star)