Sime Darby Bhd Stock Surged
The share price of Sime Darby Bhd formerly known as Synergy Drive Bhd surged to a high of RM12.10, up RM3.20 or 36% from the reference price of RM8.90 when it was listed on Nov 30.
Most research houses are giving the thumbs up to Sime Darby, with 12-month target prices ranging from RM11.40 to RM12.80.
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Synergy Drive Bhd to list in Bursa Malaysia
FactsÂ
Merged entity of Permodalan Nasional Bhd’s companies, Sime Darby Bhd, Golden Hope Plantations Bhd and Kumpulan Guthrie Bhd
Targeted to list in Bursa Malaysia on Nov 30, 2007
Largest company on Bursa Malaysia with an estimated market capitalisation of over RM50 billion.
Synergy Drive would be the world’s largest oil palm player in terms of crude palm oil (CPO) production and also, Malaysia’s largest property developer by land bank size.
Diversified Malaysian multinational with core businesses in the plantations, property, heavy equipment, motor and the energy and utilities sectors.
Former Deputy Prime Minister Tun Musa Hitam as chairman
Tan Sri Ahmad Sarji Abdul Hamid, chairman of Permodalan Nasional Bhd, as deputy chairman
The other board members are prominent Indonesian banker Dr Arifin Siregar, Datuk Henry Sackville Barlow of Golden Hope and HSBC Bank (Malaysia), Datuk Dr Halim Haji Ismail of Mentakab Rubber Company (Malaya) Bhd and Golden Hope, Datin Paduka Zaitoon Datuk Othman of the Muslim Lawyers Association of Malaysia and Islamic Mint Sdn Bhd (a company that is promoting the gold dinar and silver dirham) and Datuk Seri Andrew Sheng, a former Bank Negara assistant governor and chairman of the Hong Kong Securities and Futures Commission (1998-2005).