It said there are still possibilities to further monetize/unlock its asset values, given the ongoing infrastructure projects which will benefit Sime given its vast landbank. “Besides, the appointment of new PNB chairman could mean more asset unlocking/ restructuring exercises, in a move to energise the major shareholder’s investment portfolio. HLIB Research raised house FY06/17 core net profit forecast by 9.4% to RM2.34 billion, mainly to reflect earnings contribution assumption from Battersea phase 1 project. “Accordingly, our SOP-derived target price on Sime is raised by 16.9% to RM9.00. We upgrade Sime from hold to Buy,” it said.

Source: The Edge Markets November 02, 2016 00:41 UTC