Sime Darby expected to ride on expansion plan

The A$104mil, or circa RM327mil, acquisition will complement and strengthen Sime Darby’s existing business in Australia and reinforce its presence in the Asia Pacific in terms of value chain offering.

PETALING JAYA: Sime Darby Bhd’s recent acquisition of Salmon Earthmoving Holdings is seen as a further diversification of its business and an entry into the construction industry in Australia.

In view of this, Sime Darby deserves a second look as an investment proposition, said TA Research, which tagged a “buy call” on the counter with an unchanged target price of RM2.92 per share.