Sime Darby
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Sime eyes Aussie,
S’pore projects
SIME Darby Bhd, Malaysia’s oldest conglomerate, is eyeing a
major property project in Australia and an urban regeneration project in
Singapore. The projects will cost Sime Darby a few billion ringgit over their
short- to medium-term development period, a source familiar with the group
said. “This is part of Sime Darby’s five-year blueprint to achieve a pre-tax
profit of RM1 billion from its property division by 2016 from RM460 million
achieved in its latest financial year ended June 2012,” the source said. The source said the group plans to increase
contribution from property investment to 20 per cent in 2016 from about five
per cent of overall group revenue now. – Business Times
Auto sector
MAA says buyers are
expecting goodies in Budget 2013 for the sector
Consumers are postponing car purchases because of several
factors including expectations of goodies in the upcoming budget for the auto
sector. “The indication is that some people are holding back their purchasers,”
said Malaysian Automotive Association (MAA) president Datuk Aishah Ahmad. She
confirmed that the association’s members have recorded a slight decline in
sales. “Orders have slowed down a bit. We believe that people expect something
will be announced at the budget,” said Aishah, adding that the MAA did not
expect any significant announcement in Budget 2013 pertaining to the local auto
sector. Budget 2013 will be tabled on Sept 28. - Starbiz
Source: AmeSecurities
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