[%OFUF%] 
Research by RHB
Buy - TP RM3.10

"Industrial Segment Leads In Profitability; Still BUY"

Still BUY, new MYR3.10 SOP TP from MYR3.20, 21% upside, c.6% FY25F (Jun) yield. FY24 earnings met our forecasts but missed Street's full-year estimates. We remain positive on Sime Darby due to industrial wing’s strong performance in Australasia and full-year contributions from recently acquired UMW. It positions SIME towards providing a wide range of offerings across different market segments in the local automotive industry.

Analyst:
Syahril Hanafiah 
[%HZxx%]

$KLSE-SIME 
Research by RHB
Buy - TP RM3.10

"Industrial Segment Leads In Profitability; Still BUY"

Still BUY, new MYR3.10 SOP TP from MYR3.20, 21% upside, c.6% FY25F (Jun) yield. FY24 earnings met our forecasts but missed Street's full-year estimates. We remain positive on Sime Darby due to industrial wing’s strong performance in Australasia and full-year contributions from recently acquired UMW. It positions SIME towards providing a wide range of offerings across different market segments in the local automotive industry.

Analyst:
Syahril Hanafiah 
syahril.hanafiah@rhbgroup.com