【SIME 4197 交流专区】森那美

icy97

Type	Announcement
Subject	TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) NON RELATED PARTY TRANSACTIONS
Description	SIME DARBY BERHAD (“SIME DARBY” OR “COMPANY”) UPDATE ON OFFER BY SIME DARBY PLANTATION SDN BHD (“SD PLANTATION”), A WHOLLY-OWNED SUBSIDIARY OF SIME DARBY, TO ACQUIRE ALL THE VOTING SHARES IN NEW BRITAIN PALM OIL LIMITED (“NBPOL”) (“OFFER”)
Reference is made to the announcements dated 9 October 2014 and 23 October 2014 in relation to the Offer and to the Offer Document dated 23 October 2014 containing the Offer (“Offer Document”). Maybank Investment Bank Berhad wishes to announce on behalf of the Company, the following update with respect to the status of the European Union (“EU”) merger filing. The completion of the Offer is subject to, among others, a condition regarding the EU merger filing as follows: i. the European Commission (“EU Commission”) issuing a decision under Article 6(1)(b) of Council Regulation (EC) 139/2004 (“EU Regulation”), or being deemed to have done so under Article 10(6) of the EU Regulation, declaring the Offer compatible with the internal market without attaching to its decision any conditions or obligations that are not reasonably satisfactory to SD Plantation, provided that SD Plantation is not obliged to accept any condition or obligation which is material; and ii.  if a request under Article 9(2) of the EU Regulation has been made by a member state of the EU (“Member State”), the EU Commission indicating that it has decided not to refer the Offer (or any part thereof) or any matter arising there from to a competent authority of a Member State in accordance with Article 9(1) of the EU Regulation. Following recent discussions with the EU Commission, it has been determined that additional time will be required for the collation of further market data to aid the analysis of the complex and dynamic palm oil market in Europe and the impact of the proposed transaction. This will result in a delay in the expected timing of the EU Commission’s clearance decision. To address this matter, SD Plantation will, in due course, issue a notice of variation (“Notice”), in accordance with Sections 7, 13 and 15 of the Offer Document and Rule 13 and Rule 15 of the Code in order to vary the Offer by extending the current Offer Period to give sufficient time to satisfy the EU merger filing condition (and any other conditions which have not been satisfied by the date on which the Notice is issued).  However, exact dates will be determined following further discussions with the EU Commission and a further announcement on the revised Offer Period will be made in due course. Except as otherwise provided in this announcement, terms defined in the Offer Document have the same meaning when used in this announcement. This announcement is dated 28 November 2014.

icy97

工業貢獻走疲‧森那美3年財測下調

2014-12-01 17:28      
（吉隆坡1日訊）森那美（SIME,4197,主板貿服組）2015財政年第一季業績低於預期，因內部淨利預測下調及工業業務貢獻走疲因素，紛紛下調財測及目標價。

目標價下調

興業研究指出，第一季核心淨利雖然與去年同期相距不遠，可是今年料無法與去年一樣在其他季度迎頭趕上，主要差別在於重工業器材盈利低於預期、種植下游業務虧損及脫售東方（E&O,3417,主板產業組）額外收益影響。

該集團維持2015財政年鮮果串5%產量目標，但是對工業器材短期展望謹慎，2015財政年內部淨利目標25億令吉。

“鑒於重工業器材及種植下游業務貢獻走低，下調2015財政年盈利預測5.6%，又因2016至2017財政年稍微復甦，提昇財測4至6%。”

考量原棕油較高生產成本、中下游低賺利預測及低工業盈收，豐隆研究下修2015至2017財政年淨利預測16至19.1%。

“2015財政年內部淨利目標25億令吉低於本行預測的33億令吉，該集團預測，受澳洲礦場需求減少、中國可能延遲發放基建計劃及貸款緊縮政策、新加坡油井建設放緩影響，後者將繼續於近期拖累整體表現。”

大眾研究則因澳洲工業活動前景疲弱及汽車業務更加競爭，下調目標價及2015至2017財政年盈利預測13至14%。

“該集團根據原棕油價每噸平均2千350令吉、5%鮮果串產量成長率及澳洲礦業領域在未來兩年放緩預測，2015財政年的種植及工業業務盈利走疲，將拖累集團盈利下滑19至20%。”

澳礦業整合料拉低盈利

MIDF研究認為，原產品價格疲弱、外匯波動環境、歐洲及中國經濟成長緩慢利空影響，市場狀況料維持挑戰，下調2015財政年盈利預測18.6%，估計澳洲礦業領域整合將繼續拉低該集團盈利。

2014財政年，工業業務貢獻24.1%的業績，僅次於種植業務。

不過，肯納格研究還在檢討2015及2016財政年盈利預測，估計下調幅度不會太大，因種植業務僅在2014財政年貢獻46%息稅前利潤。目前預測2015及2016財政年原棕油價為每噸2千500令吉。

達證券也因工業業務低賺利，修減2015/16/17財政年盈利預測3.2%/1.0%/0.8%。

“第一季盈利只達到2015財政年25億令吉盈利目標的20%，第二季種植盈利料在釋放過多存貨後部份提昇，帶來4千400萬令吉的額外銷售。”
受大市暴跌和財測下調影響，該股閉市下滑24仙，以9令吉44仙掛收。



（星洲日報／財經‧報道：郭曉芳）


工业种植业疲弱拖累 森那美3年财测下修
财经新闻 财经  2014-12-07 11:03
http://www.nanyang.com/node/667260?tid=462

icy97

森那美4520萬售中國子公司55%

2014-12-03 10:57      
（吉隆坡2日訊）森那美（SIME,4197,主板貿服組）宣佈將旗下中國棕油提煉子公司的55%控股權，以8千525萬人民幣（約4千520萬令吉）的價格脫售予一家中國當地企業。

森那美發佈文告透露，旗下香港間接獨資子公司――森那美中國油脂有限公司，與山東萬寶農業有限公司達成協議，向後者脫售旗下日照森那美油脂有限公司的55%股權。

完成上述交易後，山東萬寶農業將成為日照森那美油脂的最大股東，而森那美中國油脂則持有剩餘的45%股權，轉而成為森那美的聯號公司。

日照森那美油脂的主要業務為提煉、儲存和營銷棕油相關產品，並在中國日照市首要工業區擁有一家廠房。

森那美通過文告指出，山東萬寶農業料可為日照森那美油脂的未來企業方向帶來互補效應。上述股權交易有望改善森那美在中國其它食用油方面的商業能力與可行性。

上述股權交易預計可在未來6個月內完成。股權脫售所獲得的收益將被充作森那美集團本身的營運資本，亦或作為日照森那美油脂未來的擴充資金。（星洲日報／財經）

Type	Announcement
Subject	OTHERS
Description	Disposal of 55% Equity Interest in Rizhao Sime Darby Oils & Fats Co. Ltd. (Announcement pursuant to Chapter 9.19(24) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad)
1.             Introduction Sime Darby Berhad (Sime Darby or the Company) wishes to announce that Sime Darby China Oils And Fats Company Limited (SDCOF), an indirect wholly-owned subsidiary of Sime Darby incorporated in Hong Kong, has on 28 November 2014 entered into an Equity Transfer Agreement (ETA) with Shandong Wanbao Agricultural Co., Ltd (Shandong Wanbao), a private limited liability company in Rizhao City, Shandong Province, China to dispose off its 55% equity interest  in Rizhao Sime Darby Oils & Fats Co. Ltd. (RSDOF), a private limited company, incorporated in the People’s Republic of China (PRC), for a total cash consideration of RMB85,250,000 (equivalent to approximately RM45.2 million) subject to the terms and conditions of the ETA (Proposed Transaction).   Upon completion of the Proposed Transaction, the shareholding of RSDOF will be as follows: Shareholders Percentage of Shareholding in RSDOF upon completion of the Proposed Transaction Shandong Wanbao 55% SDCOF 45% Accordingly, RSDOF will be classified as an associate company and cease to be an indirect wholly-owned subsidiary of Sime Darby. 2.         Salient Terms of the ETA The salient terms of the ETA are as follows: (i)            Consideration: The consideration for the Proposed Transaction is RMB85,250,000 (equivalent to approximately RM45.2 million). Shandong WanBao shall be required to pay a deposit equivalent to 10% of the consideration on the execution date of the ETA. (ii)           Conditions precedent: The completion of the Proposed Transaction is subject to the fulfilment of the following conditions precedent: (a)           Execution of the Equity Joint Venture Agreement (EJVA) and adoption of the new Articles of Association of RSDOF; (b)          Obtaining the approval(s) from the Ministry of Commerce, People’s Republic of China (MOFCOM) in respect of the Proposed Transaction; (c)          Completion of the change in foreign exchange registration with respect to the Proposed Transaction; and (d)          Completion of the change in corporate registration at the State Administration of Industry and Commerce (SAIC) in respect of the transaction and obtaining a Revised Business Licence for RSDOF. In the event that completion does not take place within 180 days from the execution of the ETA for reasons not attributable to MOFCOM, the non-defaulting party shall be entitled to terminate the ETA. However, if completion does not take place within 180 days due to reasons attributable to MOFCOM, the parties have to take reasonable efforts to obtain MOFCOM’s approval. In the event MOFCOM’s approval is not obtained within 270 days from the date of execution of the ETA despite reasonable efforts being taken, either party shall have the right to terminate the ETA. (iii)          Specific Indemnity: In relation to RSDOF’s land grant contract dated 26 February 2009 entered into with Rizhao Bureau of Land Resources (Land Grant Contract), SDCOF will indemnify Shandong WanBao for any losses and liabilities suffered by RSDOF which is caused by SDCOF before completion of the Proposed Transaction. Subsequent to completion of the Proposed Transaction, any loss and liability will be borne by RSDOF. SDCOF’s maximum liability arising from a breach under the ETA including the indemnity is subject to a cap of RMB16,000,000 (equivalent to approximately RM8.48 million) in aggregate. (iv)          Basis of transfer: The sale and transfer of SDCOF's 55% equity interest in RSDOF to Shandong WanBao is on an "as-is where-is" basis. 3.         Information on RSDOF RSDOF is an indirect wholly-owned subsidiary of Sime Darby incorporated in the PRC. The registered capital of RSDOF of USD29,980,000 is held by SDCOF, an indirect wholly-owned subsidiary of Sime Darby. The principal activities of RSDOF are refining, storage and marketing of palm oil related products. RSDOF has an edible oil bulking facility located in Rizhao, Shandong Province, China. The facility is located in a prime industrial area which is within close proximity to the Rizhao Port. 4.         Information on SDCOF SDCOF is an indirect wholly-owned subsidiary of Sime Darby incorporated in Hong Kong and is an investment holding company. 5.         Information on Shandong Wanbao Shandong Wanbao is a limited liability company incorporated under the PRC Law. The principal activity of Shandong Wanbao is in the sales of agricultural products including palm oil. Shandong Wanbao is expected to complement RSDOF’s future business direction in the edible oils market and storage facilities. 6.         Basis of the Transaction Consideration The consideration for the Proposed Transaction of RMB85,250,000 (equivalent to approximately RM45.2 million) was based on asset approach valuation of RSDOF as at 31 May 2014.   7.         Utilisation of Proceeds   The consideration for the Proposed Transaction is expected to be fully utilised for the working capital requirements of Sime Darby Group or to fund future expansion of RSDOF, if required. 8.         Rationale for the Proposed Transaction The Proposed Transaction offers a good opportunity for Sime Darby to improve its commercial ability and viability in other edible oils in PRC. 9.         Expected Completion The Proposed Transaction is expected to be completed within six months from the date of execution of the ETA or such other date as agreed by the parties in writing. 10.       Financial Effects for the Proposed Transaction The Proposed Transaction will not have any material effect on the earnings or net assets of the Sime Darby Group for the financial year ending 30 June 2015. 11.       Interest of Directors and Major Shareholders None of the Directors or major shareholders of Sime Darby or persons connected to them has any interest, direct or indirect, in the Proposed Transaction. 12.      Documents for Inspection A copy each of the ETA and EJVA is available for inspection at the Registered Office of the Company at the 19th Floor, Wisma Sime Darby, Jalan Raja Laut, 50350 Kuala Lumpur during normal office hours from Mondays to Fridays (except public holidays) for a period of three (3) months from the date of this announcement. This announcement is dated 2 December 2014.

icy97

新英棕油六成股东 接受森那美全购

财经新闻 财经  2014-12-05 10:23
（吉隆坡4日讯）森那美（SIME，4197，主板贸服股）全面收购新英棕油（NBPOL）的计划，获得58.7%投票权的股东接受献议。

居林（KULIM，2003，主板种植股）早前在股东特别大会上，获得股东批准脱售新英棕油股票给森那美的议案。

献议截止延至明年初

森那美通过旗下森那美种植公司的献购，须符合相关条件，包括获得新英棕油51%投票权股东接受献议。

新英油棕58.7%投票权的股东接受森那美的献议，即符合上述条件。

同时，森那美也宣布，献购期从本月18日，延长至明年1月20日。

森那美集团在10月初，宣布以每股7.15英镑（约37.54令吉）或约56亿令吉现金，全面收购新英棕油所有股权。【南洋网财经】

Type	Announcement
Subject	TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) NON RELATED PARTY TRANSACTIONS
Description	SIME DARBY BERHAD (“SIME DARBY” OR “COMPANY”) UPDATE ON OFFER BY SIME DARBY PLANTATION SDN. BHD. (“SD PLANTATION”), A WHOLLY-OWNED SUBSIDIARY OF SIME DARBY, TO ACQUIRE ALL THE VOTING SHARES IN NEW BRITAIN PALM OIL LIMITED (“NBPOL”) (“OFFER”)
(Unless otherwise stated, defined terms used in this announcement have the same meaning as in the offer document dated 23 October 2014) Reference is made to the announcements dated 9 October 2014, 23 October 2014 and 28 November 2014. Maybank Investment Bank Berhad wishes to announce on behalf of Sime Darby that a notice of variation extending the Offer Period (“Notice”)has been issued by SD Plantation today in accordance with Rule 15(1)(d) of the PNG Takeovers Code. In accordance with the Notice, the Offer Period has been extended from 18 December 2014 to 20 January 2015. The shareholders of Kulim (Malaysia) Berhad ("Kulim"), a major shareholder of NBPOL, had at its extraordinary general meeting held on 3 December 2014 approved Kulim’s acceptance of the Offer. Following the acceptance of the Offer received from Kulim on 3 December 2014 in accordance with Section 13 of the Offer Document, as well as acceptances of the Offer already received from other NBPOL shareholders as at 3 December 2014, SD Plantation has received a total acceptance of 58.7% of NBPOL’s voting shares. With this, one of the conditions precedent of the Offer, being the minimum acceptance condition of the Offer of not less than 51% voting rights in NBPOL received by SD Plantation, has now been satisfied. This announcement is dated 4 December 2014.

icy97

icy97 发表于 7-11-2014 03:22 AM
森那美2350萬購紐西蘭Sodor產業

2014-11-07 13:05      

Type	Announcement
Subject	OTHERS
Description	Acquisition of the Entire Equity Stake in Sodor Properties Limited (Announcement pursuant to Chapter 9.19(23) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad)
Further to the announcements made on 6 November 2014 and 26 November 2014 respectively, Sime Darby Berhad (Sime Darby) wishes to announce that the acquisition of the entire equity stake in Sodor Properties Limited by North Shore Motor Holdings Limited, an indirect wholly-owned subsidiary of Sime Darby, has been completed on 5 December 2014. Accordingly, Sodor Properties Limited has become an indirect wholly-owned subsidiary of Sime Darby with effect from 5 December 2014. This announcement is dated 5 December 2014.

icy97

森那美工程仲裁撤销

财经新闻 财经  2014-12-10 10:58
（吉隆坡9日讯）森那美（SIME，4197，主板贸服股）间接子公司森那美工程，接获Swiber岸外建筑通知撤回双方仲裁。

根据文告，Swiber早在上月21日就发函至法庭要求停止仲裁程序，法庭后在上周五（5日）宣布即日生效。

森那美工程和Swiber岸外建筑2010年合作组成财团，获得石油与天然气机构颁发6亿1837万6022美元（21亿4574万令吉）合约，但双方而后出现异议，进入仲裁程序。【南洋网财经】

Type	Announcement
Subject	MATERIAL LITIGATION
Description	Notice of Arbitration between Swiber Offshore Construction Pte Ltd and Sime Darby Engineering Sdn Bhd (Announcement pursuant to paragraphs 9.03 and 9.04(g) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad)
We refer to the announcement dated 30 August 2013 in relation to the Notice of Arbitration dated 28 August 2013 received by Sime Darby Engineering Sdn Bhd (SDE), an indirect wholly-owned subsidiary of Sime Darby Berhad (Sime Darby), from Swiber Offshore Construction Pte Ltd (Swiber). Sime Darby wishes to announce that Swiber and SDE have jointly proceeded to take steps to terminate the arbitration through a letter dated 21 November 2014 from Swiber's solicitors to the Tribunal.  The Tribunal has, through its letter dated 5 December 2014, declared the termination of the arbitration with immediate effect. This announcement is dated 8 December 2014.

APULA

一股作气：森那美分拆上市激励增值
一股作气 财经周刊 投资观点  2014-12-22 05:02
http://www.nanyang.com/node/670457

森那美（SIME，4197，主板贸服股）的业务分析上市计划只闻楼梯声不见人下来已久。

如今，预计明年会有实际行动，从而提升价值。

对于收购新英棕油（NBPOL）虽能扩大集团的营运规模以及平衡国内外种植业务，但高溢价收购恐造成负债率急增。

同时，以棕油业务为主要收入，商品价格低迷，将持续左右森那美的业绩表现。

自森那美于2010年爆发能源与公用事业的工程严重超支以来，已传出该集团有意将业务分拆上市。

根据当时的意愿，通过业务分拆上市的重组计划，主要是让各旗帜公司拥有独立董事局，以改善并增强企业监管作业，提高各业务运作的透明度。

汽车业料第三季上市

然而，随着时间的推移，过去4年以来，业务分拆上市的计划始终只闻楼梯响，不见人下来，至今仍未有一项业务上市。

尽管如此，森那美也已着手落实业务分拆和上市计划，其中预计旗下的汽车业务，料于明年在马交所挂牌。

该集团已委任投资银行针对其汽车业务上市计划进行筹备，预计将在明年第二或第三季挂牌，但也将考虑当时的市况。

至于该集团旗下的产业业务，预料在汽车业务上市以后，另一个具备分拆上市的潜在业务。

拥有百年历史的森那美，旗下5大核心业务分别为种植、产业、工业、汽车以及能源与公用事业，而其他业务包括保健、消费产品和保险。

逐渐将业务分拆上市，无疑将能为集团释放价值，也为股东创造更高的价值，将是该集团未来的重要催化剂。

购新英棕油负债激增

另一边厢，因新英棕油（NBPOL）的种植属高品质且罕有优质资产，森那美以每股7.15英镑，全面收购前者的股权。

同时，新英棕油旗下所有原棕油都有永续棕油圆桌会议（RSPO）的认证，可进一步牢固森那美种植为全球最大永续棕油认证（CSPO）公司的地位。

这项收购举动不仅仅是为该集团增加种植地扩大其营运规模以及取得更平衡的国内外种植组合，但也促成其在欧洲和东南亚现有下游业务的架构完整。

一旦收购活动完成，新英棕油也能立即为该集团的业绩带来营收贡献，有望进一步推高该集团的盈利表现。

然而，过高的收购价格却令市场感到担忧，集团以内部资金和外部贷款融资，恐怕造成负债率激增。

对此，管理层采取应对负债率高涨的措施包括严厉控制各业务的资本开销、收购该种植公司后在国内或国外挂牌集资，以及股息再投资计划所筹获的资金来缓和高负债率。



放眼全年赚25亿

回顾过去5年的业绩表现，森那美的营业额和净利在2012财年见顶后，因原棕油价格走弱影响，导致该集团在2013财年的业绩表现也走跌。

该集团在2015年首季的营业额，按年跌4.3%至101亿2442万4000令吉，反之，净利则上扬2.3%至5亿69万4000令吉。

集团管理层放眼在本财年，净利可达25亿令吉的目标（以原棕油平均价格每吨为2350令吉为依据），以及股本回酬设定在8.5%。

然而，在商品价格波动下，原棕油每下跌100令吉，集团潜在营收损失达2亿令吉，净利也受冲击。

反之，一旦原棕油价格能够回稳并出现走强的趋势，则会让森那美从中受惠，因该集团约45%的盈利贡献来自种植业务。

估值方面，该股目前的交易水平约15.4倍本益比，股价净值比为1.88倍，而周息率则因股价近期出现回调，如今达4%水平。



风险

森那美潜在投资风险，则包括外资减持股权、原棕油价格走跌、美元走强导致36%美元借贷成本高涨以及全球经济活动放缓等因素。

免责声明
本文分析仅供参考，并非推荐购买或脱售。投资前请咨询专业金融师。

股悦

icy97

森那美设荷兰子公司

财经新闻 财经  2014-12-27 03:23
（吉隆坡26日讯）森那美（SIME，4197，主板贸服股）获得荷兰商会点头，于当地成立子公司。

森那美子公司森那美种植日前或获准，在荷兰成立森那美原产品欧洲私人有限公司（SDCE）。

该公司核心业务为原棕油和相关产品贸易，以及原料采购。【南洋网财经】

Type	Announcement
Subject	OTHERS
Description	Incorporation of a subsidiary - Sime Darby Commodities Europe B.V. (Announcement pursuant to Chapter 9.19 (23) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad)
Sime Darby Berhad (Sime Darby) wishes to announce the incorporation of Sime Darby Commodities Europe B.V. (SDCE) in The Netherlands on 23 December 2014. The notification of the incorporation of SDCE issued by The Netherlands Chamber of Commerce was received by Sime Darby Plantation Sdn Bhd, an indirect wholly-owned subsidiary of Sime Darby, on 24 December 2014. SDCE was incorporated as a private company with limited liability. The entire issued share capital of SDCE of Euro 100 was subscribed and is held by Sime Darby Netherlands B.V., an indirect wholly-owned subsidiary of Sime Darby. The principal activities of SDCE are trading of crude palm oil and palm oil products, and performing feedstock procurement function. The incorporation of SDCE is not expected to have a material effect on the earnings or net assets of the Sime Darby Group for the financial year ending 30 June 2015. None of the directors or substantial shareholders of Sime Darby or persons connected to them has any interest, direct or indirect, in the said incorporation. This announcement is dated 26 December 2014.

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Whether the corporate proposal involves the issuance of new type and new class of securities?	No
Types of corporate proposal	Others
Details of corporate proposal	Dividend reinvestment plan that provides shareholders of Sime Darby Berhad (“Sime Darby”) with an option to reinvest their final cash dividend of 30 sen per ordinary share of RM0.50 each in Sime Darby (“Sime Darby Shares”) for the financial year ended 30 June 2014 in new Sime Darby Shares (“2nd DRP”)
No. of shares issued under this corporate proposal	147,051,477
Issue price per share ($$)	MYR 8.940
Par Value ($$)	MYR 0.500
Latest issued and paid up share capital after the above corporate proposal in the following
Units	6,211,158,286
Currency	MYR 3,105,579,143.000
Listing Date	06/01/2015

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森那美收購NBPOL限期 延至3月20日

財經6 Jan 2015 21:00
（吉隆坡6日訊）森那美（SIME，4197，主要板貿服）將新不列顛棕油有限公司（簡稱NBPOL）收購期限，從1月20日展延至3月20日。

該公司稱，這家位于巴布亞新幾內亞（Papua New Guinea）公司的獻購活動需轉成無條件獻購，因此計算過程在內需展延期限。

“這項延期措施是為了配合歐盟委員會決定，也是完成獻購的其中一項條件，預計落在2015年1月26日。”

基于歐盟委員會有可能在諮詢額外資料下展延決定，因此獻購期限延期是一項預防措施。

森那美指歐盟委員會或作出任何諮詢，屆時森那美種植私人有限公司或NBPOL可能需要時間回應，並會拖延歐盟委員會的決定到1月27日之后。

森那美是在去年10月9日向NBPOL發出有條件全面獻購，每股為7.15英鎊（約38.77令吉）或總值10億7000萬英鎊（約58億令吉）。

該公司需獲得至少51%股權接受獻議，以確保獻購活動未有違背巴布亞新幾內亞國家利益，並符合倫敦交易所、莫爾茲比港證券交易所及馬證交所監管條例。

NBPOL股東一共持有58.7%股權，而居林集團（KULIM，2003，主要板種植）已接受森那美收購獻議。【中国报财经】

Type	Announcement
Subject	TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) NON RELATED PARTY TRANSACTIONS
Description	SIME DARBY BERHAD (“SIME DARBY” OR “COMPANY”) UPDATE ON OFFER BY SIME DARBY PLANTATION SDN. BHD. (“SD PLANTATION”), A WHOLLY-OWNED SUBSIDIARY OF SIME DARBY, TO ACQUIRE ALL THE VOTING SHARES IN NEW BRITAIN PALM OIL LIMITED (“NBPOL”) (“OFFER”)
(Unless otherwise stated, defined terms used in this announcement have the same meaning as in the offer document dated 23 October 2014) Reference is made to the announcements dated 9 October 2014, 23 October 2014, 28 November 2014 and 4 December 2014. Maybank Investment Bank Berhad wishes to announce on behalf of Sime Darby that a second notice of variation (“Notice”) to further vary the terms of the Offer by (a) extending the Offer Period from 20 January 2015 to 20 March 2015 (“Further Extension”) and (b) taking into account the Further Extension in calculating the date by which the Offer must become unconditional, was issued by SD Plantation today in accordance with Rule 15(1)(d) of the PNG Takeovers Code and in accordance with an exemption granted by the Securities Commission of PNG pursuant to Rule 15(1)(e) of the PNG Takeovers Code. This Further Extension is to accommodate the decision of the European Commission (“EU Commission”) being one of the conditions for the completion of the Offer, which is only expected by 26 January 2015. It is a precautionary measure against the possibility that the EU Commission decision could be delayed by any potential requests for additional information. In the event that the EU Commission makes any such requests, SD Plantation and/or NBPOL may require time to respond and this is likely to extend any decision by the EU Commission to beyond 27 January 2015, which, based on the current timetable, is the last date by which the conditions are to be satisfied. This announcement is dated 6 January 2015.

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森那美二度展延收购　NBPOL交易料获欧盟放行

财经  2015年01月08日
(吉隆坡8日讯）森那美（SIME，4197，主板贸服股）週二宣布，展延收购新不列顛棕油公司（NBPOL）期限，这是有关收购案第二度展延，但分析员则相信，该项收购案最终將获得欧洲委员会的批准，因此维持该股「买进」投资评级。

这项消息出炉之后，森那美股价在昨日跟隨大市走跌，一度触及全天最低的9令吉，挫跌15仙或1.64%。不过，週四则已经回扬。

该股以9.10令吉掛收，全天涨8仙或0.89%。成交量为200万6100股。

森那美將收购新不列顛棕油公司的期限，从原本的2015年1月20日，展延至2015年3月20日。这也是该公司第2度展延收购期限。

森那美管理层在文告中表示，展延收购期限主要是为了等待来自欧盟委员会的批准，这是完成该收购案的其中一个条款，该委员会的决定预计將在1月26日出炉。

另外，管理层也指出，基于欧盟委员或將会针对该项收购议案，要求森那美和新不列顛提供更进一步的资料或详情，所以森那美才展延有关收购期限。

整体而言，大马投行分析员相信，该收购案將获得欧盟委员会的批准。

该分析员对该收购案唯一的隱忧，是森那美付出高昂的收购价；但分析员依然认为，一旦原棕油价格復甦，森那美將是最大的受惠者。

他补充说，森那美的另一项潜在正面因素，就是让旗下的汽车业务分拆上市。

其汽车业务预计会在2015年下半年掛牌。

因此，该分析员维持森那美「买进」投资评级，目標价为10.58令吉。【东方网财经】

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傳森那美將全購實達

2015-01-13 10:14      
（吉隆坡12日訊）市場傳出森那美（SIME,4197,主板貿服組）正致力於展開對實達集團（SPSETIA,8664,主板產業組）收購建議的消息，分析員相信這對森那美而言是個重大的收購案，且有望提昇該集團的盈利表現。

根據英文報《星報》引述消息人士報道，森那美正為旗下產業臂膀收購實達集團一事展開行動。據悉，此建議是在兩個月前由數名實達集團高級管理層提出，並傳達給森那美以及兩家公司的共同大股東--國民投資公司（PNB）的高層。

“這並不是出乎意料之事，因此課題在之前曾被大股東提出過。這次建議則是出自於實達集團的關鍵人物。”《星報》引述消息人士指出。

聯昌研究表示，此消息並無太大的意外，因為此前已被媒體報道過。當時森那美曾表示對併購消息不知情，惟無法預知目前是否有任何變化。

將需耗資85億

若森那美要對實達集團展開全購，依後者目前的閉市價來看，將需耗資85億令吉。此價位甚至比全購新不列顛棕油公司（NBPOL）所需的56億令吉還來得更高。

對實達集團的收購雖有助增長森那美的盈利，惟其負債率也料將跟著提高，聯昌因而對此抱持中和態度，目前仍有待該建議更具體的詳情出爐。聯昌粗略預計若森那美將以市價的10%溢價價格來收購實達集團，而前者的盈利有往在收購完成後增長5%。

在當前一切都未明朗化之前，聯昌預測森那美股價不會因上述消息而出現顯著的變動。該證券行維持對森那美“守住”的評級，並保持每股9令吉58仙目標價不變。（星洲日報／財經‧報道：孔令堯）

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Type	Announcement
Subject	OTHERS
Description	Disposal of Subsidiary Companies (Announcement pursuant to Chapter 9.19(24) of the Bursa Malaysia Securities Berhad’s Main Market Listing Requirements)
Sime Darby Berhad (Sime Darby) wishes to announce the disposal of the following wholly-owned subsidiary companies on 13 January 2015, by Sime Darby Brunsfield Holding Sdn Bhd, an indirect subsidiary of Sime Darby (the Disposal): No. Company Purchaser Number of Ordinary Shares of RM1.00 each (%) Total Consideration (RM) 1. Sime Darby Brunsfield Project Management Sdn Bhd (SDB Project) Brunsfield Development Holdings Sdn Bhd (BDH) Two (100%) 2,000.00 2. Sime Darby Brunsfield Property Management Sdn Bhd (SDB Property) Brunsfield Technology Holdings Sdn Bhd (BTH) Two (100%) 2,000.00 3. Sime Darby Brunsfield Taipan City Sdn Bhd (SDB Taipan) BDH Two (100%) 2,000.00 SDB Project, SDB Property and SDB Taipan are currently dormant. Following the Disposal, SDB Project, SDB Property and SDB Taipan have ceased to be indirect subsidiary Companies of Sime Darby. The Disposal will not have any material effect on the earnings or net assets of the Sime Darby Group for the financial year ending 30 June 2015. Encik Gan Tien Chie is a Director of SDB Project, SDB Property and SDB Taipan. He is also a Director of BDH and BTH. None of the directors or substantial shareholders of Sime Darby or persons connected to them has any interest, direct or indirect, in the Disposal. This announcement is dated 13 January 2015.

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标普维持森那美A级信评

财经新闻 财经  2015-01-21 11:36
（吉隆坡20日讯）标准普尔（S&P）宣布，维持森那美（SIME，4197，主板贸服股）的“A”长期信贷评级和展望负面。

不过，标准普尔下调森那美的东协区域评级，从“axAAA”，至“axAA+”。

该机构也从观察名单上，解除森那美的所有评级。去年8月，该机构把森那美的展望列为“负面观察”。

标准普尔认为，森那美有减少举债的计划，可抵消收购新英棕油（NBPOL）的影响。

然而，森那美减少举债的计划有执行风险，如汽车业务首次公开募股（IPO）的估值、集团本身的表现，以及持股新英油棕。

该机构估计，森那美收购新英棕油对净负债的影响，介于37亿至55亿令吉（持股介于51%至82%）。

该机构此前预测为65亿令吉。

标准普尔指出，展望负面是反映森那美将成功献购新英棕油，造成净负债剧增。【南洋网财经】

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欧盟准森那美购新英棕油

财经新闻 财经  2015-01-28 08:19
（吉隆坡27日讯）森那美（SIME，4197，主板贸服股）全面收购新英棕油（NBPOL）的计划，获得欧盟执行委员会（EuropeanCommission）批准。

根据欧盟委员会在网页上的通告，该执行委员认为该项收购计划，不会抵触欧盟竞争法，反而相信森那美的业务在地里位置上，对欧盟来说有辅助功能，也是原棕油产品替代供应商。

在1月6日，森那美（SIME，4197，主板贸服股）宣布延长收购新英棕油的献购期限，从1月20日至3月20日，因为要等待欧盟执行委员会的决定。

森那美集团去年10月初，宣布以每股7.15英镑（约37.54令吉）或约56亿令吉现金，全面收购新英棕油所有股权。

根据全面收购条例，森那美必须取得至少51%新英棕油股权，也要确保该献购不会对于巴布亚新几内亚（Papua New Guinea）国家利益不利。

献购也必须符合伦敦交易所、巴布亚新几内亚政府、大马交易所等要求。【南洋网财经】

Type	Announcement
Subject	TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) NON RELATED PARTY TRANSACTIONS
Description	SIME DARBY BERHAD (“SIME DARBY” OR “COMPANY”) UPDATE ON OFFER BY SIME DARBY PLANTATION SDN. BHD. (“SD PLANTATION”), A WHOLLY-OWNED SUBSIDIARY OF SIME DARBY, TO ACQUIRE ALL THE VOTING SHARES IN NEW BRITAIN PALM OIL LIMITED (“NBPOL”) (“OFFER”)
(Unless otherwise stated, defined terms used in this announcement have the same meaning as in the offer document dated 23 October 2014) Reference is made to the announcements dated 9 October 2014, 23 October 2014, 28 November 2014, 4 December 2014 and 6 January 2015. On behalf of Sime Darby, Maybank Investment Bank Berhad wishes to announce that SD Plantation had, on 27 January 2015, obtained formal clearance from the European Commission (“EU Commission”) on the European Union (“EU”) merger filing. Pursuant to the clearance from the EU Commission, the condition on the EU merger filing has now been fulfilled. A copy of the EU Commission’s decision can be found at http://europa.eu/rapid/press-release_MEX-15-3741_en.htm?locale=en. The Offer shall remain open until 20 March 2015. This announcement is dated 28 January 2015.

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收購案期限縮短‧森那美料月內拿下NBPOL

2015-02-10 16:55      
（吉隆坡10日訊）收購提案獲歐盟委員會放行後，森那美（SIME,4197,主板貿服組）將新不列顛棕油公司（NBPOL）的全購期限縮至少於一個月，至本月23日（週一）。

分析
馬銀行研究認為，在縮短期限後，相信森那美可在一個月內完成收購計劃。

據瞭解，目前約有60%的NBPOL股東有條件接受獻購。

去年10月，森那美提出以每股7.15英鎊收購NBPOL。原定獻購期限為去年12月18日，後來連續兩次延至今年1月20日和3月20日。

馬銀行研究指出，如果森那美買下NBPOL的100%股權，交易總值料達10億7千300萬英鎊（約58億令吉）。

“收購後，我們預期森那美將整合NBPOL的業務，儘快取得協同效益，初步計劃相信會向巴布亞新幾內亞政府要求收購更多土地，以擴展其業務。”

該行補充，森那美也可能透過NBPOL的英國網絡，向英國以至其他歐洲國家銷售更多擁有永續證明的棕油。

馬銀行研究維持森那美的“買進”評級和10令吉70仙目標價。（星洲日報／財經）

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負債走高問題可解決‧森那美財測不變

2015-02-23 16:42      
（吉隆坡23日訊）森那美（SIME,4197,主板貿服組）收購新不列顛棕油公司（NBPOL）獲看好，分析員認為收購成本及負債率走揚問題可在汽車業務上市前解決，維持財測不變。
收購NBPOL受看好

艾芬黃氏預計，森那美將獲取60至70%NBPOL股權，滿足巴布亞新幾內亞政府從現有的18%提昇至30%持股權的意願。

獻購NBPOL的期限分別是2月23日下午5時（巴布亞新幾內時間）及下午1時（英國時間），截至去年12月3日止，森那美已取得58.7%的NBPOL股權，當中包括居林（KULIM,2003,主板種植組）脫售的49%股權。

該行指出，馬幣疲弱料推高收購成本及負債率，假設森那美最終獲取65%股權，以目前1英鎊兌5令吉48仙匯率計，收購價將達6億9千760萬英鎊或38億2千300萬令吉，潛在推升負債率約0.5倍。

2014年10月，1英鎊兌換率為5令吉30仙，當時收購價為36億9千700萬令吉。

“雖然汽車業務延遲上市，負債率走揚問題依然可通過第二次股息再投資計劃及削減資本開銷措施減少，儘管收購本益比較高，NBPOL也會正面貢獻每股盈利。”

艾芬黃氏以3.8%借貸成本及內部資金3%利息估計，65%的股權收購將分別在2015、2016及2017財政年提昇每股盈利1.3%、1.8%及1.9%。

另外，NBPOL也提供平均樹齡年輕、高榨油率、大型可種植儲備的種植園坵及巴布亞新幾內亞政府的潛在新種植地庫。

巴特西2017財政年
料貢獻2.2億盈利

產業方面，艾芬黃氏預測，英國巴特西發展計劃料在2017財政年貢獻2億2千萬令吉稅前盈利，汽車及工業業務料持續面臨挑戰，2015財政年業績貢獻將繼續持平。

第一季的產業未結賬銷售企於22億令吉，工業訂單企於24億令吉。

鑒於森那美將在2月26日宣佈第二季業績，艾芬黃氏維持目標價8令吉50仙及“守住”評級不變。（星洲日報／財經‧報道：郭曉芳）


股息再投资削减开支 森那美负债激增风险降低
财经新闻 财经  2015-02-25 12:01
http://www.nanyang.com/node/683397?tid=462

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伊波拉疫灾后 加码利比里亚

财经新闻 财经  2015-02-25 12:00
（蒙罗维亚24日讯）一旦西非国利比里亚宣布为伊波拉免除区，森那美（SIME，4197，主板贸服股）在该国种植业务将全面恢复运作。

当地报章《New Dawn》引述森那美利比里亚种植（SDPL）营运主任阿兹米哈山谈话称：“利比里亚正在经历艰难的时刻，希望今年伊波拉可以免除，然后恢复全面的运作。”

“我们不但没有缩减营运规模，还决定继续营运和保留当地的员工，并计划长远的发展。”

之前，该公司因伊波拉病毒的疫情日趋严重，决定暂缓在该国建设棕油厂和扩大种植地的计划。

目前，利比里亚的伊波拉新病例已大幅降低，世界卫生组织已宣布其邻国尼日利亚和马里为伊波拉免除区。

森那美和其他大型种植公司和利比里亚政府规划种植发展地，同时确保原始森林得以保留。【南洋网财经】

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原棕油价跌拖累 森那美次季净利挫47%

财经新闻 财经  2015-02-27 09:44
（吉隆坡26日讯）原棕油价格走低，加上气候影响油棕收成，森那美（SIME，4197，主板贸服股）次季净利按年跌46.5%，报4亿3739万5000令吉，相当于每股盈利7.21仙。

该公司上年次季净赚8亿1831万1000令吉，每股盈利13.61仙。

森那美次季营业额报107亿4199万令吉，按年微扬0.3%，相较上年同季107亿836万令吉。

该公司建议派息每股6仙。

森那美集团总裁兼总执行长丹斯里巴基沙烈在汇报会上表示，公司上半年净赚9亿3808万9000令吉，相较上年首两季13亿730万令吉，按年跌28%。

首两季营业额报208亿6641万4000令吉，相较上年同期的212亿9250万6000令吉，按年微跌2%。

列席者包括森那美总财务长拿督童宝娇，与总营运长阿都瓦哈。

25亿净利目标不变

巴基沙烈说，原棕油价格走跌，气候影响油棕鲜果串收成，影响首两季获利，现财年的获利表现，或许逊于过去几年，但公司不会因此下调早前订下25亿令吉净利目标。

拥有多元业务的森那美，主要盈利来源来自种植、工业以及汽车业务，不过，这三大业务的首两季获利表现均走跌，其中，以工业业务按年跌幅最大，由5亿8870万令吉挫至3亿1620万令吉，按年跌46%。

种植业务上半年进账5亿5910万令吉，按年跌27%；汽车业务则按年滑落5%，报2亿4820万令吉。

不过，房地产与能源以及公用事业业务则取得亮眼表现。

房地产发展业务按年增45%报1亿9920万令吉；能源以及公用事业业务进账6950万令吉，按年涨334%。

森那美汽车展延至下半年上市

原订在上半年分拆上市的森那美汽车私人有限公司（SDM），挂牌计划将展延至下半年。

巴基沙烈表示，目前市况疲弱，将导致森那美汽车首次公开募股（IPO）无法取得更高估值，公司因此决定暂缓上市计划，继续观察外在情况再作决定。

不过，他并未透露首次公开募股的规模。

森那美汽车业务版图扩至东南亚、中国，以及澳洲，东南亚与澳洲市场首两季表现亮眼，取得超过100%增长；大马与中国则分别下跌21%及57%。

他指出，大马因消费税即将推行，人们消费意愿下滑，以致汽车销量滑落，中国则因超级豪华车款市场竞争激烈，销量走跌。

“不过，中国市场庞大，加上需求强劲，销量有望回扬。”

甫于本周完成新英棕油（NBPOL）收购案的森那美，计划借由汽车公司以及印尼种植公司上市计划，为公司筹措资金。

他说，公司正探讨印尼种植业务挂牌方式，其中包括分拆上市、联营，以及倒置收购模式，但至今未有定案。

棕油价RM2300-2500

询及原棕油价格未来走势时，巴基沙烈预期，上半年原棕油价格将在每公吨2300至2500令吉区间波动，下半年将因印度与欧元区需求带动，渐步走扬。

他表示，公司首两季的原棕油平均售价为每公吨2154令吉，比上年首两季的2377令吉低。

此外，由于气候不佳，首两季的油棕鲜果串产量按年下跌6%，进一步影响种植业务获利。

他说，虽然原棕油价格走扬，但种植业务依然充满挑战，因大豆油价格扬升，目前，原棕油与大豆油的价差仅为65至75美元。

传刘启盛卸巴特西主席 巴基沙烈：未获通知

消息传出，英国伦敦巴特西电站计划主席丹斯里刘启盛已递辞呈，但针对此事，巴基沙烈拒绝回应，仅表示巴特西计划控股董事部并未接获前者的辞呈。

他说，刘启盛将继续担任主席职务，直至9月份合约结束为止。

“虽然有消息传出指他（刘启盛）辞职，但我并未接获正式通知。”

早前媒体报道指出，随着丹斯里刘启盛将以私人名义，在伦敦大展拳脚，市场人士预计，因有利益冲突之嫌，他最快会在今年首季，提早卸下巴特西电站计划主席一职。

关于森那美房地产公司或会与实达集团（SPSETIA，8664，主板产业股）的合并传言，他则不予置评。【南洋网财经】

SUMMARY OF KEY FINANCIAL INFORMATION 31/12/2014

		INDIVIDUAL PERIOD		CUMULATIVE PERIOD
		CURRENT YEAR QUARTER	PRECEDING YEAR CORRESPONDING QUARTER	CURRENT YEAR TO DATE	PRECEDING YEAR CORRESPONDING PERIOD
		31/12/2014	31/12/2013	31/12/2014	31/12/2013
		$$'000	$$'000	$$'000	$$'000

1	Revenue	10,741,990	10,708,360	20,866,414	21,292,506
2	Profit/(loss) before tax	592,700	953,223	1,267,620	1,623,491
3	Profit/(loss) for the period	464,757	859,602	991,404	1,375,800
4	Profit/(loss) attributable to ordinary equity holders of the parent	437,395	818,311	938,089	1,307,300
5	Basic earnings/(loss) per share (Subunit)	7.21	13.61	15.47	21.74
6	Proposed/Declared dividend per share (Subunit)	6.00	6.00	6.00	6.00
		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 ($$)	4.5700		4.7100

icy97

KPI遜預期‧森那美獲2利好扶持

2015-02-27 18:31      
（吉隆坡27日訊）森那美（SIME,4197,主板貿服組）2015財政年上半年淨利低於預測，分析員認為這可能是該集團首次無法達到25億令吉盈利的績效指標，但分拆和重組的消息料可扶持股價。

森那美截至去年杪的半年核心淨利8億3千400萬令吉，只佔市場平均全年財測的29%。

興業研究表示，鮮果串及原棕油產量下跌，拖累淨利表現，預計下半年原棕油價回升及汽車業務分拆上市後，可釋放公司更多價值，有助於穩定公司股價。

大馬研究表示，截至2014年止，森那美產業業務未入賬銷售為24億令吉，首半年除息稅前盈利（EBIT）上升41%至1億7千400萬，倫敦巴特西產業計劃虧損4千萬令吉，該產業計劃營收預料最快將反映在2016財政年杪或2017財政年。

此外，產業債務也將該公司的負債率從0.23倍提高至0.24倍。

汽車業務銷售量從4萬3千944輛走高至4萬6千325輛，主要來自寶馬、福特及保時捷。

大眾研究說，基於澳洲礦業放緩，以至森那美未來2年的工業業務也將受到影響。目前，公司手握31億令吉的工業訂單。

安聯與興業都調低淨利預測，2015財政年調低幅度8%至10.3%，2016至2017財政年調低2%至7%。



（星洲日報／財經）