Sime Darby Bhd has no plans to increase its 30 per cent stake in property developer Eastern & Oriental Bhd (E&O).
However, the company is looking forward to a potential collaboration with E&O, Sime Darby president and group chief executive Mohd Bakke Salleh told the media after the company's annual general meeting here today.
"At the moment we are happy to have the 30 per cent stake in E&O, and the future will depend on developments that will take place," he said.
On Nov 25, Sime Darby will announce its 2012 first quarter results and key performance index as well as its outlook for next year, Mohd Bakke said.
He said the company is targeting crude palm oil prices to stay at around RM3,000 per tonne until year-end, in line with the target prices of most plantation players and plantation research houses.
The company posted a higher pre-tax profit of RM5.45 billion for the financial year ended June 30, 2011 from RM2.82 billion recorded last year, while its revenue rose to RM41.86 billion compared to RM32.51 billion previously. -- Bernama
However, the company is looking forward to a potential collaboration with E&O, Sime Darby president and group chief executive Mohd Bakke Salleh told the media after the company's annual general meeting here today.
"At the moment we are happy to have the 30 per cent stake in E&O, and the future will depend on developments that will take place," he said.
On Nov 25, Sime Darby will announce its 2012 first quarter results and key performance index as well as its outlook for next year, Mohd Bakke said.
He said the company is targeting crude palm oil prices to stay at around RM3,000 per tonne until year-end, in line with the target prices of most plantation players and plantation research houses.
The company posted a higher pre-tax profit of RM5.45 billion for the financial year ended June 30, 2011 from RM2.82 billion recorded last year, while its revenue rose to RM41.86 billion compared to RM32.51 billion previously. -- Bernama
