Friday, May 7, 2010

CIMB downgrades Sime Darby

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

1 comment:

paktam said...

Sime Darby
Though there is a change in leadership in the country, there seemed to be no change in Sime Darby. The Sime Darby leadership seemed to become bolder than before. Is this a case of lack of `Political Will` upstairs? Or could be because he is alone to tackle so many things, so much so that only so much are done? Or he do not believe in delegation? Can anyone live in confort on the fact that the perprators are the one to do the investigation of wrong doing? I am worried. Chances are there will be more bad news from Sime Darby.