【SIME 4197 交流专区】森那美

scsiang82

Tuesday October 14, 2008
Sime’s counter measures


KUALA LUMPUR: Sime Darby Bhd, the world’s largest listed planter, will be hurt by lower crude palm oil (CPO) prices but it plans to offset that by targeting a 5% improvement in its CPO production, increasing exports to China and cutting costs, said president and group chief executive officer Datuk Seri Ahmad Zubir Murshid.

He did not elaborate on how Sime Darby planned to cut costs.

The group had increased its yield of fresh fruit bunches by two tonnes per hectare in the past nine months but would suffer from a drop in the price of CPO, he told reporters after the RSPO (Roundtable on Sustainable Palm Oil) certification award ceremony yesterday.


Flemming Norklit, MD of BSi Management Systems - Global, presenting the RSPO certification to Sime Darby Bhd president and group CEO Datuk Seri Ahmad Zubir Murshid in Kuala Lumpur on Monday. - Starpic by Abdul Rahman Senin

“Our (earnings) numbers will be affected as part of it is palm-oil based but we could leverage the exposure via our multi core businesses,” he said.

In the last four months, CPO prices have plunged, from a high of over RM4,000 per tonne. Yesterday, CPO prices close up RM60 to RM1,833.

Over 80% of the group’s palm trees are below 20 years, which are more productive, and the plantation business contributed about 70% of earnings for fiscal year ended June 30, according to the company.

Zubir said plantation operations remained profitable even with CPO at RM1,800 per tonne as production costs were between RM1,100 and RM1,200 per tonne.

The group had a replanting policy of 4% and would seek to balance between greenfield development and replanting, he said.

Sime Darby Plantation Sdn Bhd managing director Datuk Azhar Abdul Hamid said the group planned to be a significant player in China.

“We hope to supply about three million tonnes of olein to China over the next three years from the current half a million,” he said, adding that Chinese consumption of palm oil would grow to 10 million to 12 million tonnes in the same period.

On alleged trading losses in China, Zubir clarified that Sime Darby was not into futures trading.

“It’s not futures trading. It’s just that prices have come down drastically and customers are deferring delivery. Every company is facing the same situation,” he said, adding that Sime would discuss with Chinese buyers to honour the orders.

Yesterday, Sime Darby unit Sandakan Bay was given the coveted RSPO certification.

The RSPO standard was set up to ensure that the rapid expansion in the palm oil industry is done in a sustainable manner.

http://biz.thestar.com.my/news/story.asp?file=/2008/10/14/business/2264349&sec=business

scsiang82

更新: October 13, 2008 20:28

受金融危機波及
森那美擬修盈利預測


（吉隆坡13日訊）房地產及汽車業務受全球金融危機波及，加上原棕油價格下跌使種植業收入減，森那美（SIME，4197，主板貿易）將修改早前定下的盈利預測。

不過，該公司有信心，今年仍可獲利。

森那美主席兼總執行長拿督斯里阿莫朱比爾說，隨著原油期貨價格下滑，公司收入將受影響。

維持收支平衡

“惟公司崇尚多方發展，尚有其他核心業務能平衡此現象。”

詢及如何看待現今原棕油價格，阿莫朱比爾指出，前陣子原棕油價格一度攀升至2400令吉或2500令吉，惟現在處在1800令吉。

“我還滿意這個價錢，惟不希望看著原棕油價格持續下滑，現在公司還能維持收支平衡，對我們來說，今年尚能取得收益。”

阿莫朱比爾是在森那美種植（Sime Darby Plantation）取得“棕油永續發展圓桌會議（RSPO）認證”后，發表談話；列席者包括森那美種植董事經理拿督阿茲哈阿都哈密。

他說，現今全球經濟都受影響，不只是棕油市場。

“我們當然也受影響，原油期貨價格隨著市場浮動，我們必須維持成本，增加棕油生產量。”

他指出，兩年前的棕油價格為1800令吉時，大家都滿意這個情況，惟現在則認為原棕油價格已處在下滑狀態。

阿茲哈指出，3年內將增加國內棕油出口至中國，並持續拓展歐洲業務。

他說，中國市場並不大，而且著重大豆市場。

“中國方面對棕油需求尚低，惟我們預計在未來3年，增加出口中國棕油量，由50萬增至300萬。”

至于歐洲方面，阿莫朱比爾指出，歐洲市場擁有很大的潛能。

“公司將在本月18或19日首度出口棕油至荷蘭子公司，出口量介于1萬至1萬3000公噸。”

http://www.chinapress.com.my/content_new.asp?dt=2008-10-14&sec=business&art=1004bsa009a11.txt

傻人最有傻福

General Announcement

Reference No SD-081014-FD4BD

Company Name	:	SIME DARBY BERHAD
Stock Name	:	SIME
Date Announced	:	14/10/2008

Type	:	Announcement
Subject	:	Sime Darby Berhad (formerly known as Synergy Drive Bhd) Production Figures for the month of September 2008
Contents	:	The production figures of the Sime Darby Berhad Group for the month of September 2008 are set out in Table 1 below. This announcement is dated 14 October 2008.
Announcement Details : Table 1 1. Fresh Fruit Bunches 810,428 MT 2. Crude Palm Oil 179,098 MT 3. Palm Kernel 41,992 MT

© 2008, Bursa Malaysia Berhad. All Rights Reserved.

傻人最有傻福

General Announcement

Reference No SD-081014-6B275

Company Name	:	SIME DARBY BERHAD
Stock Name	:	SIME
Date Announced	:	14/10/2008

Type	:	Announcement
Subject	:	Sime Darby Berhad (formerly known as Synergy Drive Bhd) - Article entitled : "Musa : Earnings may fall"
Contents	:	Werefer to the news article appearing in The New Straits Times, Biz NewsSection, Page 40, on 14 October 2008 in which the Chairman of SimeDarby Berhad ("Sime Darby") was quoted as saying "Net income in the 12months ending June 2009 might be less than the RM3.51 billion reporteda year earlier." On 29 May 2008, Sime Darby announced its key performance indicators("KPI"), which included a profit target for the financial year ending30 June 2009 of RM3.7 billion. Sime Darby wishes to announce that in view of the prevailing level ofcrude palm oil prices and the global economic uncertainty, the Board ofDirectors of Sime Darby will review the target KPI for the currentfinancial year ending 30 June 2009 ("FY09 Target KPI"). Sime Darbyexpects to announce its revised FY09 Target KPI at the end of November2008 together with its quarterly report for the three months periodended 30 September 2008. This announcement is dated 14 October 2008.

K男

本楼前些时候根据sime财报因其过于依赖油棕收益赚副而看淡其表现--如今我国政治风暴和全球金融危机以及棕油打回原型--其股价很可能的6。00--4。00间游走

1-棕油目前还没有最低的说--
2-大型工程计划只能展望2010年放晴--
3-能源的年底冬季一丝期盼-共给因素而走上


http://kelvinliew.pixnet.net/blog/

软趴趴的说

Orochimaru

SIME到现在还是6块多，在这两个礼拜的狂风暴雨里面都没什么跌

K男

原帖由 Orochimaru 于 14-10-2008 07:18 PM 发表
SIME到现在还是6块多，在这两个礼拜的狂风暴雨里面都没什么跌

以跌对半的价格来衡量--KLK-IOI目前也是如此--算正常--另一只种植股亚地种植就也算合理--但SIME不是净种植股的说--若看淡后市--还有很大的下跌空间。。。个人判断6。00-4。00


http://kelvinliew.pixnet.net/blog/

软趴趴的说

傻人最有傻福

政府機構出手
散戶可趁機搭直通車

報導：何燕玲

政府投資機構大肆收購被低估股項，散戶可趁機搶搭“直通車”，隨行到股海“搶錢”。

（吉隆坡21日訊）綜合指數跌不停，政府投資機構已出手，大肆收購馬股市被低估股項，投資家坦言，散戶應趁機搶搭“直通車”，隨行到股海“搶錢”，戰勝逆市。
副首相兼財政部長拿督斯里納吉日前宣佈，政府將注資50億令吉到Valuecap基金，使該基金規模擴大1倍，達100億令吉，以投資被低估股項。
基金跟進
再者，馬證交所20日股東股權買賣資料顯示，政府投資臂膀之一僱員公積金局（EPF），過去1週勇猛掃貨，包括購入大量土著聯昌（COMMERZ，1023，主板金融）、IOI集團（IOICORP，1961，主板種植）、森那美（SIME，4197，主板貿易）等。
國民投資機構（PNB）和朝聖基金局（LTH）也增持部分上市公司股權。
換言之，政府投資機構已靜靜“動手”，入市吸購被低估股項；分析員說，這可扶盤之余，亦趁勢為政府累積財富，爭取最大投資賺益。
大馬股票經紀人協會（PERSAMA）會長黃峋理告訴《中國報》說，此外，本地基金公司也已插上一腳，看好在政府和私人基金機構的“扶助”下，馬股將漸擺脫劣勢。
他坦言，基金經理往往採用危機入市投資策略，即投資情緒和信心極為薄弱時，進場買入股價被市場拋售許多的股項，不動聲息累積籌碼，展望股市回穩時大賺一筆。
“一旦市場信心回揚，馬股重返穩定格局，之前不願承擔風險的散戶，會一窩蜂衝進股市，基金經理此時則揮揮手套現撤離，個人投資者最后或徒勞無功。”
他指出，市場別忽略基金公司的存在，總投資規模佔馬股市值20%，有能力呼風喚雨。
股神巴菲特已表示，將手中現金及政府債券全部轉換股票，說明股市前景不差，加上政府和私人基金來勢洶洶，散戶萬勿錯失良機。

傻人最有傻福

棕油價起落僅為短期阻力‧李深靜慕沙力挺油棕業遠景              
                                                   
（吉隆坡）原棕油價格大幅下瀉，種植領域展望迅速逆轉，然而，種植業龍頭的IOI集團(IOICORP，1961，主板種植組)董事主席丹斯里李深靜和森那美(SIME，4197，主板貿服組)主席敦慕沙希旦，皆排眾議力挺油棕業遠景。
李深靜和慕沙希旦週二（10月21日）在2008年國際油脂大會，不約而同指出，原棕油價格起落只是短期阻力，業者眼光應放長遠，原棕油作為食用油和附加價值食品的用途，將隨著持續研發而日益擴大，長期需求將支持價格回穩。
李深靜估計，原棕油目前幾乎接近谷底，明年首季有潛力回升至2000令吉水平以上，原棕油作為全球主要食用油，長遠仍有實際需求和基本面做後盾。
針對原棕油期貨行情從高峰4468令吉水平，跌至目前介於1600至1700令吉區間，李深靜認為，IOI集團有能力應對衝擊，集團已經以逾3000令吉水平，售出50%的遠期月貨，他有信心剩餘的能以2200令吉售出。
他認為，以全球長期需求趨勢衡量，原棕油的合理價應企在每公噸2千令吉水平，他也坦承，種植領域近期賺幅已縮窄，當務之急須努力加強成本管理
與此同時，森那美主席敦慕沙希旦在主題演說指出，生活水準越先進的國家如美國和歐盟，消費者食用或消費原棕油製成品的程度很高；發展中國家消費用途仍以食用油為主，此舉證明原棕油產品價值鏈和經濟發展成正比。
他說，大馬種植領域面對西方環保組織，無根據的破壞指控環境，應探討更積極開拓中國和印度等新興市場，把握這些國家發展轉型過程出現的原棕油需求價值鏈。
“全球生物燃料商機正熱燒，但大馬在這方面成績明顯落後，國內油棕領域需加強下游領域和附加價值產品研發。”
他呼籲當局和種植領域，不可因為全球原油價格回緩，而放慢生物燃料的研發步伐，重復過度依賴原油的毛病。
另一方面，大馬棕油理事會（MPOC）首席執行員丹斯里尤索夫峇西倫透露，理事會已邀請歐盟今年11月派出代表團到我國，以瞭解大馬種植業的環保措施和原棕油研發項目，以消除歐盟對種植領域破壞環境的誤解。

傻人最有傻福

暴利稅或永久取消‧種植領域成本減輕
（吉隆坡）政府可能考慮取消原棕油暴利稅，基於經濟前景黯淡、需求減弱，導致原棕油價低於徵收暴利稅“價格關口”，分析員認為政府或會永久性取消該稅，如果落實，對種植領域是一項利多，減輕種植業因各類成本上漲和棕油所構成的負擔。
達證券分析員占姆斯勒南說，目前原棕油價低於2000令吉水平，因此根據超過2000令吉征收暴利稅的條例，有關暴利稅已自動取消，種植業不需要再繳付暴利。
原產部長拿督陳華貴透露，基於棕油價格已經下跌至低於征收暴利稅的底線，也就每公噸2000令吉，因此原產部或向內閣建議取消暴利稅。
分析員說，在當前經濟前景黯淡，需求告減而導致原棕油價低迷情況下，政府看來或可能永久性取消暴利稅，這對種植領域是好消息，可減輕種植成本上漲所構成的負擔。
根據征收暴利稅條件，每公噸油棕價若在2000令吉（568.2美元）以上則徵收暴利稅。截至週一（10月20日）止，原棕油報1718令吉，約比今年高峰期跌了三分之二。
與此同時，基於原棕油價疲弱、需求減緩與營運成本增加，聯昌研究維持種植股“減碼”評級，原棕油價已是連續第七個月下滑，若按歷史週期需17個月才能見底，預計2009年9月“見底”，接著便是“回彈”期。
若以樂觀角度看，原棕油價下滑週期為8個月，即下個月就見底；悲觀投資者則認為下滑週期達36個月，但預料不會發生，因為大馬與印尼政府肯定會採取措施穩定原棕油價。
陳華貴表示，大馬可能與印尼協作市場供應與生產計劃，使原棕油價回穩。
基於經濟前景因金融海嘯衝擊而改觀，分析員已調整之前的原棕油價預測，2008年原棕油價預測已削減6%至每公噸2850令吉，2009年則再削17%至每公噸1900令吉，長遠則放眼平均2000令吉。
聯昌原本的預測2008年每公噸3030令吉，2008年2300令吉。
“倘若全球經濟繼續惡化，低基礎線的原棕油價每公噸1500令吉，最糟情況為1200零吉。”
聯昌大砍大馬、新加坡與印尼種植股2008年至2010年盈利預測60%，主要是考慮到原棕油價前景，並把疲弱價格及2010年肥料價趨跌考慮在內。
另外，也調低大馬種植股目標價4%至23%，亞地種植（ASIATIC，2291，主板種植組）由3令吉70仙調低9%至3令吉15仙、IOI集團（IOICORP，1961，主板種植組）由3令吉50仙修低4%至3令吉、吉隆坡甲洞（KLK，2445，主板種植組）由8令吉30仙調低13%至7令吉、合成種植（HSPLANT，5138，主板種植組）由1令吉74仙調低9%至1令吉32仙，而森那美（SIME，4197，主板貿服組）由6令吉零5仙調低23%至4令吉80仙。

傻人最有傻福

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傻人最有傻福

（吉隆坡）森那美（SIME，4197，主板貿服組）將通過整合所有醫療保健於新公司森那美保健（SIME DARBY HEALTHCARE）旗下，從而放眼新興市場商機，諸如在中國的擴充機會。
森那美保健目前的業務包括醫療中心、專科中心和護理學院。在整合業務後，該公司將加強大馬專才訓練以及教育事業，計劃擴大海外醫療保健領域等策略。
森那美董事兼醫療保健業務監督委員會主席丹斯里旺查希諾丁表示:“森那美集團在全球超過20個國家營運，這對保健業務而言是一個良好的拓展業務機會，在集團的支持下進軍有關市場。”
其中，他表示，中國是他們目前瞄准的目標市場，但拒絕透露進一步詳情。
他今日在森那美醫療保健全新推介禮儀式後表示:“當我們加強大馬業務， 尋求在本地有更進一步發展的同時，我們也放眼其他新興市場，諸如中國的醫療保健機會。”
在重整和易名為森那美醫療保健，集團已耗資300萬令吉，重新打造森那美醫療保健整體的品牌，所有的保健業務名字冠上“森那美”的名字，包括首邦再也醫院被命名為森那美首邦再也醫院。該公司計劃於吉隆坡再增設一家醫院。
他說:“我們非常關注有關的醫療教育事業，除了培養更多具有素質的專業人才，提供專業的醫療服務，在大馬甚至區域性的地方扮演領導者的角色。”
截至2008年6月30日止，醫療保健業務取得2億5000萬令吉營業額，淨利2000萬令吉，對集團的貢獻低於10%。
公司也非常看好大馬的醫療健前景，根據估計，大馬的醫療保健業務常年成長為8%，同時提供穩定的現金流，同時被視為“抗跌”行業。
公司也有意擴充護理學院，增加學生人數，因為對護士的需求非常大，特別是來自中東的需求。

傻人最有傻福

General Announcement

Reference No SD-081022-E2F3F

Company Name	:	SIME DARBY BERHAD
Stock Name	:	SIME
Date Announced	:	22/10/2008

Type	:	Announcement
Subject	:	Striking-off of Performance Company Sdn Bhd (Announcement pursuant to Chapter 9.19(24) of the Listing Requirements)
Contents	:	SimeDarby Berhad (formerly known as Synergy Drive Bhd) ("Sime Darby")wishes to announce that further to the application for voluntarystriking-off made by Performance Company Sdn Bhd ("PCSB"), a dormantsubsidiary of Sime Darby in Brunei Darussalam, PCSB had on 21 October2008, received a written confirmation from Messrs Ahmad Isa &Partners, the solicitors appointed to apply for the striking-off onbehalf of PCSB, that PCSB has been struck-off from the register ofcompanies on 10 October 2008 i.e. after the expiration of three monthsfrom the date of the notification from the Registrar of Companies inBrunei Darussalam. The striking-off of PCSB will not have a material effect on theearnings or net assets of the Sime Darby Group for the year ending 30June 2009. None of the Directors or substantial shareholders of SimeDarby or persons connected to them has any interest, direct orindirect, in the said striking-off. This announcement is dated 22 October 2008.

K男

原帖由 傻人最有傻福 于 22-10-2008 02:48 PM 发表
（吉隆坡）森那美（SIME，4197，主板貿服組）將通過整合所有醫療保健於新公司森那美保健（SIME DARBY HEALTHCARE）旗下，從而放眼新興市場商機，諸如在中國的擴充機會。
森那美保健目前的業務包括醫療中心、專科中心 ...

希望别再风声大-雨点小。。。。坝共水坝-海底电缆等的大工程又没下文的说


http://kelvinliew.pixnet.net/blog/

软趴趴的说

傻人最有傻福

Palm oil price unlikely to rise in 2 years


# Aseambankers slashes profit estimates for Sime Darby and IOI Corp

# Rating on Malaysia's plantation industry cut to 'neutral'THE price of palm oil, which has plunged 64per cent from its Marchrecord, is unlikely to advance for two years asa possible globalrecession risks cutting demand for commodities,Aseambankers MalaysiaBhd forecast.

The edible oil, used in cooking and as a biofuel, will probablyaverageRM1,600 (US$452) a ton in 2009 and 2010, Ong Chee Ting, ananalyst atAseambankers in Kuala Lumpur, wrote in a report today. Palmoil is nowtrading at about that level.

The global financial crisis has pushed the US closer torecession,reducing international trade and demand for goods from crudeto foodexports. The forecast for steady palm oil prices suggestsefforts bythe government in Malaysia, the world's second-largest growerof thecommodity, to boost prices may fail.

"The risk of an extended global recession has clearly emerged,"Ongsaid. "While we remain enthusiastic over its long-term prospects,theplantation sector's intermediate-term returns have become lessjuicy."

Malaysia's government said October 30 itplans to cutdown some palm oil plantations in an effort to trimproduction and helpreverse tumbling prices. Indonesia, the worldbiggest maker of palmoil, and Thailand are taking similar steps toreduce domestic output ofcommodities including rubber.

Aseambankers also cut its earnings forecasts for producersincludingSime Darby Bhd and IOI Corp, Malaysia's two largest palm oilmakers, forthe next three years. Ong slashed his profit estimatesbetween 11 percent and 96 per cent.

'Demand Destruction'

"Demand destruction is the key concern for 2009," Ong said, cuttinghisrating on Malaysia's plantation industry to "neutral" from"tacticaloverweight."

In the worst case, the price of palm oil may plunge to less thanRM1,200a ton, should crude oil drop to less than US$50 a barrel,Aseambankerssaid.

Crude oil, trading at US$63.25, has tumbled about 57 per cent fromarecord US$147.27 a barrel in July. Still, palm oil probably won'tstayat such a low level for more than four months, according to thereport.

Before today's cut, Aseambankers previous forecast for palm oil prices in 2009 and 2010 was RM2,500 a ton. - Bloomberg

傻人最有傻福

Changes in Substantial Shareholder's Interest Pursuant to Form 29B of the Companies Act. 1965

Reference No SD-081104-349C7

Company Name	:	SIME DARBY BERHAD
Stock Name	:	SIME
Date Announced	:	04/11/2008

Name	:	Employees Provident Fund Board
Address	:	Tingkat 19, Bangunan KWSP Jalan Raja Laut 50350 Kuala Lumpur
NRIC/Passport No/Company No.	:	EPF ACT 1991
Nationality/Country of incorporation	:	Malaysia
Descriptions (Class & nominal value)	:	Ordinary shares of RM0.50 each
Name & address of registered holder	:	Employees Provident Fund Board (Acquisition of 4,000,000 shares) Mayban Investment Management Sdn Bhd (Disposal of 300,000 shares)

Details of changes
Type of transaction	Date of change	No of securities	Price Transacted (RM)
Acquired	28/10/2008	1,000,000
Disposed	28/10/2008	300,000
Acquired	29/10/2008	3,000,000

Circumstances by reason of which change has occurred	:	Purchase and sale of shares by the Employees Provident Fund Board and its Portfolio Manager.
Nature of interest	:	Direct and indirect
Direct (units)	:	834,339,653
Direct (%)	:	13.88
Indirect/deemed interest (units)	:	85,746,889
Indirect/deemed interest (%)	:	1.43
Total no of securities after change	:	920,086,542
Date of notice	:	29/10/2008
Remarks
The notice of change in substantial shareholding was received from the Employees Provident Fund Board on 4 November 2008.

小巴菲

澄清千萬虧損傳言　森那美違約損失僅900萬

2008年11月13日

　  
(吉隆坡12日訊)森那美（SIME，4197，主板貿服股）澄清，該公司因為中國原棕油收購商違約所帶來的損失僅有大約900萬令吉。同時，該公司認為未來這種狀況發生的可能性不高。
森那美首席執行員拿督斯裡阿末朱比爾表示，由於原棕油的價格不斷下挫，因此有些買家不願意以較高的價格購買，導致該公司面臨虧損。
無論如何，他認為，未來這種狀況發生的可能性不高，因該公司較少賣出遠期貨（一般上，該公司較喜歡以每個月的方式出售），加上該公司的買家都具有代表性。
由於原棕油期貨價格在過去數個月急速滑跌，使一些海外買家情願違約也不願拿貨，而市場之前有傳言指森那美因中國買家違約，使該集團蒙受上千萬令吉的損失。
阿末朱比爾是在該公司的股東常年大會後，針對市場有關中國買家違約事件，對記者如是表示。
另一方面，他認為原棕油價格將會逐漸穩定。他預料，中到長期，原棕油價格將穩定在1800令吉到2000令吉的水平。
同時，他指出，隨著原棕油價格大幅挫低，預料種植領域將會進行整合。他之所以抱持這種觀念，主要是因為他認為，過去在原棕油價格大幅提高的時候，有很多小型的業者紛紛加入，但是隨著原棕油的價格走低、種植成本高居不下以，融資管道日益緊縮，一些小型業者將會開始退場。在這種情況下，他認為森那美擁有非常好的地位，以進行擴張的行動。
除了在上游活動的擴張外，他表示，未來該公司仍然會持續在種植領域的下游進行擴張，這是因為該公司目前的提煉產能仍舊不足。同時，儘管全球的經濟狀況持續不穩，但是預料中國以及印度的擴張仍然將會持續，因此他們也可能在這兩個國家設立提煉廠。
「由於我們擁有龐大數額的現金，因此，對其他人而言可能是危機，但對我們來說卻是機會。」
針對該公司未來的股息支出，他表示，儘管目前的環境非常嚴峻，但是他們仍然會維持其股息政策。
森那美將會在本月底之前公佈其第1季的業績表現，同時該公司也將會宣佈其調整後的關鍵表現指標。

傻人最有傻福

Sime Darby eyes troubled planters

Sime Darby Bhd (4197),armed with RM6 billion cash, may buy distressed plantation assets toexpand as falling palm oil prices and tighter credit will likely forceout smaller players.The world's largest listed oil palm grower warned of a challengingyear ahead, and is likely to lower certain performance targets when itreports its first quarter earnings later this month.

However, the global financial crisis also creates better opportunity for expansion.

"Crude palm oil (CPO) price will start to stabilise next year, but itwill be challenging. Prices won't be as high as at the beginning ofthis year," chief executive officer Datuk Seri Ahmad Zubir Murshid tolda media briefing in Kuala Lumpur yesterday.

He expects CPO prices to average RM1,800 to RM2,000 a tonne next year.
CPO prices have fallen sharply from its peak of RM4,486 a tonne inMarch to RM1,539 yesterday for the benchmark futures contract.

The drastic price fall will hurt earnings at Sime Darby, which made 70per cent of profits last year from its plantation business.

There will also be a slight softening in the motor and propertydivisions, Zubir said, but he declined to indicate if the group'sprofits will be lower for the year ending June 2009.

"We areworking our best. The first quarter was still good as CPO prices werestill good. We'll see for the rest of the year," he said.

Still, the global credit crisis has put Sime Darby, which has a strongbalance sheet, in a better position to make acquisitions.

  "When CPO prices were high, everyone was very bullish. Every Tom, Dick and Harry would go into the industry with five, 10ha.

"Nowwith the low prices, high production costs and tight liquidity offinancing, it will cause some smaller players to be unable tocontinue," Zubir said.

  Sime Darby had RM6 billion cash as at June this year, a low gearing and almost settled its foreign debts, he said.

"We have enough to be aggressive. How much to spend depends on what isavailable. Cash is king in this environment and we will review thecapital expenditure," he added.

goodluck88

SUMMARY OF KEY FINANCIAL INFORMATION

30/09/2008

		INDIVIDUAL PERIOD		CUMULATIVE PERIOD
		CURRENT YEAR QUARTER	PRECEDING YEAR CORRESPONDING QUARTER	CURRENT YEAR TO DATE	PRECEDING YEAR CORRESPONDING PERIOD
		30/09/2008	30/09/2007	30/09/2008	30/09/2007
		RM'000	RM'000	RM'000	RM'000
1	Revenue	8,705,040	8,180,618	8,705,040	8,180,618
2	Profit/(loss) before tax	1,252,870	1,017,888	1,252,870	1,017,888
3	Profit/(loss) for the period	879,587	701,082	879,587	701,082
4	Profit/(loss) attributable to ordinary equity holders of the parent	866,982	601,269	866,982	601,269
5	Basic earnings/(loss) per share (sen)	14.43	10.91	14.43	10.91
6	Proposed/Declared dividend per share (sen)	0.00	0.00	0.00	0.00
		AS AT END OF CURRENT QUARTER		AS AT PRECEDING FINANCIAL YEAR END
7	Net assets per share attributable to ordinary equity holders of the parent (RM)	3.7400		3.6100

傻人最有傻福

However, Sime Darby expects to post a full-year net profit of RM1.9 billion, almost half its previous target of RM3.7 billionSIME Darby, the world’s biggest grower of palm oil, posted a 44.2 percent jump in first-quarter net profit, but slashed its earningsforecast by nearly half due to falling palm oil prices and the globaleconomic slowdown.

The state-owned company, Malaysia’s biggest listed firm, said theeffects of a slowing economy will impact the group’s businessactivities, forcing it to lower targets on its key performanceindicators for the full-year.

Sime Darby said it expected to post a full-year net profit ofRM1.9 billion (US$524.7 million), almost half its previous target ofRM3.7 billion.

    The company had earned RM3.5 billion in the previous financial year.

    July-September net profit rose to RM866.98 million, up from RM601.27 million a year ago.

“The earlier KPIs announced on 29 May 2008 were set prior to theglobal economic crisis and when (crude palm oil) prices were trading atlevels significantly higher than the prevailing level of about RM1,500per tonne,” Sime Darby said in a statement.

Palm oil prices have slumped by almost two thirds since a Marchpeak of RM4,486 as oil stocks ballooned and demand waned. Prices arenow near the break-even point for the less efficient plantations.

    Shares in Sime Darby closed unchanged at RM5.85 ahead of the results. - Reuters