Sime Darby Bhd was downgraded at CIMB Investment Bank Bhd as media reports on the Malaysian company incurring cost overruns from building the Bakun hydro-electric project raised concerns it may hurt earnings.
The company was cut to “neutral” from “trading buy” and its share price estimate reduced to RM9.70 from RM10.82, CIMB said in a report today. -- Bloomberg
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