Sime Darby Plantation, Sime Darby Property debut on Bursa

KUALA LUMPUR: While Sime Darby Plantation Bhd debuted on the bourse to a 1 sen premium at RM5.60, Sime Darby Property Bhd opened 20 sen lower than its issue price, in what was the climax to the conglomerates de-merger exercise.
Sime Darby Property faltered in its debut on the Main Market of Bursa Malaysia by opening at RM1.30 at 9am against the issue price of RM1.50.
Meanwhile, Sime Darby Bhd, which had its trading suspended since Monday, resumed trading today at an opening price of RM2.40, 30% higher than its last done reference price of RM1.85.
"We actually look at the combined pricing, when Sime Darby closed last week it was at RM8.94 (Nov 24), so if we look at the combined opening price it is at RM9.30 so overall there is an increase," Sime Darby Property chairman Tan Sri Abdul Wahid Omar said on the poor debut of the property arm.
"In terms of the reference price that was just a base... a starting point. What is important for us, is we have to focus on improving the fundamentals including earnings, dividend payout and mostly we expect value to be created," he told reporters at a post-listing media briefing.
This morning's listing also marked the first time where more than one company was listed simultaneously on the Malaysian stock exchange.