Sime Darby’s port divestment expected, in line with portfolio rebalancing, says AmInvestment
The divestment of the Weifang Port business is not unexpected and is in line with Sime Darby Bhd’s portfolio rebalancing, according to AmInvestment Bank Bhd. In a note on Tuesday (July 5), the research house said it is generally neutral on Sime Darby’s divestment and maintained its “buy” call on the stock with a lower target price of RM2.88, from RM2.90 previously, based on the disposal proceeds and rolling forward its valuation base year to the next financial year ending June 30, 2023 (FY23). “The group has been monetising its ...
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