AmInvestment maintains 'hold' rating for Sime Darby despite bullish property sales target

In a filing with Bursa Malaysia yesterday, Sime Darby said SDE had on Feb 5 received a notice from the Dubai International Arbitration Centre (DIAC) that EMAS had submitted a request for arbitration against SDE which was filed on Jan 24, 2016. The amount that EMAS is seeking from the arbitration proceedings is AED41.04mil (about RM46.37mil).

KUALA LUMPUR : AmInvestment Bank Research has maintained its 'hold' rating for Sime Darby Bhd despite the group's optimism of achieving sales of over RM3bil from its properties for its full financial year ending June 30, 2016 (FY16).

 According to the research house on Monday, Sime's stock currently carries a fair value of RM7.77 per share, or a slight discount from its closing price of RM7.85 on Apr 8.