The acquisition of the Gough Group was in line with Sime Darby’s strategy to expand its Caterpillar dealership business to other regions such as New Zealand.
KUALA LUMPUR: AmInvestment Research has upgraded Sime Darby to Buy from Hold with a lower sum-of-parts based fair value of RM2.56 a share from RM2.57 with a price-to-earnings (P/E) of 12 times for its motor segment.
It said on Wednesday the stock’s valuation is undemanding at current levels. Hence, it is now recommending a Buy on weakness of the share price.
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