Thursday, November 25, 2010

Sime Darby sees 4.95m shares done off market

KUALA LUMPUR: SIME DARBY BHD []'s 4.95 million shares were transacted in an off-market deal at RM8.72 apiece on Thursday, Nov 25.

The shares rose four sen to RM8.73. There were 912,300 shares done at prices ranging from RM8.69 to RM8.73.

Sime Darby is scheduled to announce its financial results for the first quarter ended Sept 30 on Friday instead of Thursday.

At the recent AGM, its acting president and group chief executive Datuk Mohd Bakke Salleh had stated the group would be in the black in the first quarter.

It posted a net loss of RM77.35 million in 4Q ended June 30, 2010 (FY2010) compared with net profit of RM984.04 million a year ago, following additional provisions for the loss-making energy and utilities (E&U) division.

Sime Darby's E&U division reported an operating loss of RM1.75 billion for FY2010 after making additional provisions of RM777.3 million for 4QFY2010. Including the RM1.308 billion provisions up to 3QFY2010, the total provisions for foreseeable losses and impairments for the full year amounted to RM2.085 billion.

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