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MY : Sime Darby Bhd - Pedal to the metal

9MFY6/21 core net profit was in line at 75%/77% of our/consensus FY21F. We see improving earnings outlook beyond FY21F, driven by resilient motors demand in China and a stronger mining equipment demand in Australia. Reiterate Add and TP. Sime offers attractive FY21-22F yields up to 5.7%.


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