- Well received. We took Sime on a non-deal roadshow (NDR) to meet several UK fund managers post the Battersea site visit. There has been renewed interest in Sime since CEO Dato' Mohd Bakke Salleh instituted several positive changes following his appointment in Jul 2010. Sime is now more focused as it continues to streamline and grow its six core businesses. We like Sime as a laggard, defensive BUY with an unchanged TP of MYR11.00 on 16x FY14 PER.
Source: Maybank Research - 19 Sep 2012
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