MIRA INFORM REPORT

Report Date :

24.12.2011

IDENTIFICATION DETAILS

Name :	SIME DARBY BERHAD
Registered Office :	21^st Floor, Wisma Sime Darby Jalan Raja Laut Kuala Lumpur, 50350
Country :	Malaysia
Financials (as on) :	30.06.2011
Date of Incorporation :	11.09.1978
Legal Form :	Public Parent
Line of Business :	Growing of cereals and other crops not elsewhere classified
No. of Employees :	100,000

RATING & COMMENTS

MIRA’s Rating :

Ba

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Status :	Satisfactory
Payment Behaviour :	No Complaints
Litigation :	Clear

NOTES :

Any query related to this report can be made on e-mail: infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List – September 30, 2011

Country Name	Previous Rating (30.06.2011)	Current Rating (30.09.2011)
Malaysia	A2	A2

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

Top of Form

Bottom of Form

Top of Form

Company name and address

Sime Darby Berhad

21st Floor, Wisma Sime Darby
Jalan Raja Laut
Kuala Lumpur, 50350
Malaysia
Tel:	60-3-26914122
Fax:	60-3-26987398

Employees:

100,000

Company Type:

Public Parent

Corporate Family:

30 Companies

Traded:

Bursa Malaysia:

SIME

Incorporation Date:

11-Sep-1978

Auditor:

PricewaterhouseCoopers LLP

Financials in	USD (mill)
Fiscal Year End:	30-Jun-2011
Reporting Currency:	Malaysian Ringgit
Annual Sales:	13,570.2 ^1
Net Income:	1,188.0
Total Assets:	14,196.5 ^2
Market Value:	17,041.9
	(09-Dec-2011)

Business Description

Sime Darby Berhad is an investment holding company. Its six business segments are plantation, property, industrial, motors, energy and utilities, and others. Its plantation segment is engaged in the production and marketing of fresh fruit bunches, crude palm oil, palm kernel, rubber and refining and marketing of palm oil related products. Its property segment is engaged in developing and marketing residential, commercial and industrial properties and development land and management and provision of golf and other recreational facilities and services. Its industrial segment is engaged in sales, rental and servicing of heavy equipment and its motors segment is engaged in the assembly and distribution of vehicles and the provision of after-sale services. On September 21, 2011, it dissolved Avidat Sdn Bhd and Guthrie Export Sdn Bhd. In September 2011, it acquired Foshan Sime Darby Elco Power Equipment Limited. On October 10, 2011, it incorporated Sime Darby Industrial Australia Pty Ltd. For the fiscal year ended 30 June 2011, Sime Darby Berhad's revenues increased 22% to RM41.86B. Net income increased 51% to RM3.66B. Revenues reflects an increase in sales from Property, Industrial and Motors segments. Net income also reflects an increase in other operating income, the presence of share of profit from jointly controlled entities vs. a loss and an increase in finance income.

Industry

Industry	Crops
ANZSIC 2006:	0149 - Other Grain Growing
NACE 2002:	0111 - Growing of cereals and other crops not elsewhere classified
NAICS 2002:	11112 - Oilseed (except Soybean) Farming
UK SIC 2003:	0111 - Growing of cereals and other crops not elsewhere classified
US SIC 1987:	0119 - Cash Grains, Not Elsewhere Classified

Key Executives

Name	Title
Mohd Bakke Salleh	Chief Executive Officer, President, Executive Director
Poh Keow Tong	Group Chief Financial Officer
Alan Hamzah Sendut	Executive Vice President - Strategy & Business Development
Norzilah Megawati Abdul Rahman	Group Secretary
Abd Wahab Maskan	Group Chief Operating Officer, Managing Director - Sime Darby Property Berhad

Significant Developments

Topic	#*	Most Recent Headline	Date
Corporate Litigation	3	Court Dismiss Case Filed By Emirates International Energy Services Against Sime Darby Berhad's Subsidiary	23-Aug-2011
Mergers & Acquisitions	3	Caterpillar Inc. To Sell Part Of Bucyrus Distribution Business To Sime Darby Berhad's Industrial Division	14-Dec-2011
Divestitures / Spin-offs	1	Sime Darby Berhad's Sime Darby Engineering Sdn Bhd Enters Into Memorandum Of Agreement With Petroliam Nasional Berhad And Malaysia Marine And Heavy Engineering Holdings Berhad	27-May-2011
General Reorganization	11	Sime Darby Berhad Announces Dissolution Of Sime Darby Financial Services Holdings Sdn Bhd	12-Dec-2011
Strategic Combinations	2	Sime Darby Berhad Signs MOU With Tenaga Nasional Berhad And Mitsui & Co., Ltd.	4-Apr-2011

News

Title	Date
Sime Darby takeover of E&O set to get messier The Straits Times (1154 Words)	23-Dec-2011
PNB: Work on RM5b project starts mid-2012 Business Times (Malaysia) (443 Words)	20-Dec-2011
Price the key in race for Proton Business Times (Malaysia) (515 Words)	17-Dec-2011
Analysts indifferent over dismissal of Zubir's countersuit Business Times (Malaysia) (448 Words)	17-Dec-2011
Maybank have Pos on radar New Straits Time (Malaysia) (429 Words)	17-Dec-2011

Financial Summary

As of 30-Sep-2011

Key Ratios	Company	Industry
Current Ratio (MRQ)	1.70	2.04
Quick Ratio (MRQ)	1.12	0.90
Debt to Equity (MRQ)	0.29	0.81
Sales 5 Year Growth	15.73	9.03
Net Profit Margin (TTM) %	9.60	2.78
Return on Assets (TTM) %	10.36	3.12
Return on Equity (TTM) %	17.65	8.13

Tooltip

FYE	Sales	Assets
06/30/2007	7,938.1	9,620.2
06/30/2008	10,268.8	11,009.2
06/30/2009	8,822.6	10,082.5
06/30/2010	9,602.9	11,607.0
06/30/2011	13,570.2	14,196.5

USD (mil)

Tooltip

Total Revenue USD (mil)

12 months ending 30-Jun-2011

Australia	2,727.1	20.1 %
Europe	544.6	4.0 %
Indonesia	942.7	6.9 %
Malaysia	4,271.7	31.5 %
Other Countries	238.4	1.8 %
Other Countries in South East Asia	675.5	5.0 %
People's Republic of China	2,893.0	21.3 %
Singapore	1,277.3	9.4 %
Segment Total	13,570.2	100.0 %
Consolidated Total	13,570.2	100.0 %

>> Geographic Segments (Annual)

Stock Snapshot

Traded: Bursa Malaysia: SIME

As of 9-Dec-2011

   Financials in: MYR

Recent Price	8.90	EPS	0.63
52 Week High	9.49	Price/Sales	1.28
52 Week Low	7.00	Dividend Rate	0.30
Avg. Volume (mil)	6.68	Price/Earnings	12.44
Market Value (mil)	53,724.61	Price/Book	2.24
		Beta	1.15

	Price % Change	Rel S&P 500%
4 Week	0.11%	0.70%
13 Week	1.25%	1.87%
52 Week	1.95%	6.22%
Year to Date	1.14%	5.21%

1 - Profit & Loss Item Exchange Rate: USD 1 = MYR 3.084602
2 - Balance Sheet Item Exchange Rate: USD 1 = MYR 3.0195

Corporate Overview

Location
21st Floor, Wisma Sime Darby
Jalan Raja Laut
Kuala Lumpur, 50350
Malaysia

Tel:	60-3-26914122
Fax:	60-3-26987398

http://www.simedarby.com/

Quote Symbol - Exchange
SIME - Bursa Malaysia
Sales MYR(mil):	41,858.8
Assets MYR(mil):	42,866.2
Employees:	100,000
Fiscal Year End:	30-Jun-2011

Industry:	Crops

Incorporation Date:	11-Sep-1978
Company Type:	Public Parent
Quoted Status:	Quoted

Chief Executive Officer, President, Executive Director:	Mohd Bakke Salleh

Company Web Links

Company Contact/E-mail

Corporate History/Profile

Employment Opportunities

Executives

Financial Information

Home Page

Investor Relations

News Releases

Products/Services

Contents Industry Codes Business Description Financial Data Market Data

Key Corporate Relationships

Industry Codes

ANZSIC 2006 Codes:
5219	-	Other Water Transport Support Services
6240	-	Financial Asset Investing
2394	-	Aircraft Manufacturing and Repair Services
6923	-	Engineering Design and Engineering Consulting Services
26	-	Electricity Supply
0149	-	Other Grain Growing
6631	-	Heavy Machinery and Scaffolding Rental and Hiring
2811	-	Water Supply
350	-	Motor Vehicle and Motor Vehicle Parts Wholesaling

NACE 2002 Codes:
4011	-	Production of electricity
5010	-	Sale of motor vehicles
7132	-	Renting of construction and civil engineering machinery and equipment
0141	-	Agricultural service activities; landscape gardening
7420	-	Architectural and engineering activities and related technical consultancy
0111	-	Growing of cereals and other crops not elsewhere classified
7415	-	Management activities of holding companies
6322	-	Other supporting water transport activities
3530	-	Manufacture of aircraft and spacecraft

NAICS 2002 Codes:
221310	-	Water Supply and Irrigation Systems
238910	-	Site Preparation Contractors
336413	-	Other Aircraft Part and Auxiliary Equipment Manufacturing
532411	-	Commercial Air, Rail, and Water Transportation Equipment Rental and Leasing
423110	-	Automobile and Other Motor Vehicle Merchant Wholesalers
336412	-	Aircraft Engine and Engine Parts Manufacturing
11112	-	Oilseed (except Soybean) Farming
541330	-	Engineering Services
2211	-	Electric Power Generation
551112	-	Offices of Other Holding Companies

US SIC 1987:
5012	-	Automobiles and Other Motor Vehicles
6719	-	Offices of Holding Companies, Not Elsewhere Classified
3724	-	Aircraft Engines and Engine Parts
8711	-	Engineering Services
4499	-	Water Transportation Services, Not Elsewhere Classified
3728	-	Aircraft Parts and Auxiliary Equipment, Not Elsewhere Classified
0119	-	Cash Grains, Not Elsewhere Classified
7353	-	Heavy Construction Equipment Rental and Leasing
4911	-	Electric Services
4971	-	Irrigation Systems

UK SIC 2003:
0111	-	Growing of cereals and other crops not elsewhere classified
7415	-	Management activities of holding companies
0141	-	Agricultural service activities; landscape gardening
74204	-	Engineering consultative and design activities
5010	-	Sale of motor vehicles
4011	-	Production of electricity
3530	-	Manufacture of aircraft and spacecraft
6322	-	Other supporting water transport activities
7132	-	Renting of construction and civil engineering machinery and equipment

Business Description

Sime Darby Berhad is an investment holding company. Its six business segments are plantation, property, industrial, motors, energy and utilities, and others. Its plantation segment is engaged in the production and marketing of fresh fruit bunches, crude palm oil, palm kernel, rubber and refining and marketing of palm oil related products. Its property segment is engaged in developing and marketing residential, commercial and industrial properties and development land and management and provision of golf and other recreational facilities and services. Its industrial segment is engaged in sales, rental and servicing of heavy equipment and its motors segment is engaged in the assembly and distribution of vehicles and the provision of after-sale services. On September 21, 2011, it dissolved Avidat Sdn Bhd and Guthrie Export Sdn Bhd. In September 2011, it acquired Foshan Sime Darby Elco Power Equipment Limited. On October 10, 2011, it incorporated Sime Darby Industrial Australia Pty Ltd. For the fiscal year ended 30 June 2011, Sime Darby Berhad's revenues increased 22% to RM41.86B. Net income increased 51% to RM3.66B. Revenues reflects an increase in sales from Property, Industrial and Motors segments. Net income also reflects an increase in other operating income, the presence of share of profit from jointly controlled entities vs. a loss and an increase in finance income.

More Business Descriptions

Sime Darby Bhd is primarily engaged in growing of cereal grains such as hard and soft wheat, rye, barley, oats, maize, etc.; growing of potatoes; growing of sugar beet; growing of oil seeds such as soya, colza, etc.; production of sugar beet seeds and forage plant seeds (including grasses); growing of hop cones, roots and tubers with a high starch or inulin content; growing cotton; growing of diverse textile plants; retting of plants bearing vegetalbe fibres; growing of dried leguminous vegetables such as field peas and beans; growing of plants used chiefly in pharmacy or for insecticidal, fungicidal or similar purposes; and growing crops not elsewhere classified.

Sime Darby (Malaysia) is the country's largest conglomerate with interests in plantations, tyre manufacturing, heavy equipment and motor vehicle distribution, property development and utilities. Regionally, the group has interests in Singapore, People's Republic of China (including Hong Kong SAR and Macao), the Philippines, Thailand, Indonesia, United Kingdom, Egypt, New Zealand, the Soloman Islands, Papua New Guinea, Negara Brunei Darulsalam and New Caledonia.

Financial - Investment (Holding Company)

Financial Data

Financials in:	MYR(mil)
Revenue:	41,858.8
Net Income:	3,664.5
Assets:	42,866.2
Long Term Debt:	4,007.5
Total Liabilities:	18,835.9
Working Capital:	4.7
Date of Financial Data:	30-Jun-2011

1 Year Growth

28.8%

105.2%

14.1%

Market Data

Quote Symbol:	SIME
Exchange:	Bursa Malaysia
Currency:	MYR
Stock Price:	8.9
Stock Price Date:	12-09-2011
52 Week Price Change %:	2.0
Market Value (mil):	53,724,608.0
SEDOL:	B29TTR1
ISIN:	MYL4197OO009

Key Corporate Relationships

Auditor:	PricewaterhouseCoopers LLP
Bank:	Cimb Bank Bhd
Auditor:	Pricewaterhousecoopers, PricewaterhouseCoopers LLP

Sime Darby Berhad

The Strategic Initiatives report is created using technology to extract meaningful insights from analyst reports about a company's strategic projects and investments.

Strategic Initiatives

Key Organizational Changes

EMAS claims a total amount of $178,200,000 including all the issues. Previously, the company was also involved in two other law suits. PT Adhiyasa Saranamas (PTA S) filed a legal suit against Kumpulan Guthrie Berhad (KGB) and six of its Indonesian subsidiaries (collectively, the co-defendants) for an alleged breach of contract with regards to the provision of consultancy services in connection with the acquisition of subsidiaries in Indonesia. Berkeley Sdn Bhd (BSB) filed a legal suit against Consolidated Plantations Berhad (CPB) for breach of a sale and purchase agreement and seeks damages amounting to RM 54.0 million (or alternatively RM 34.0 million) on the basis that CPB had failed to deliver a subdivided title in respect of 85 acres of land purchased by BSB.Geographical SpreadThe company is headquartered in Malaysia. In addition its business is spread across the People’s Republic of China (including Hong Kong SAR and Macau SAR), Singapore and Australia.

The Other businesses of the group includes, Consumer Products retailing, Bedding, Logistics and Insurance Broking and Agency. In March 2011, the company has incorporated Sime Darby Property (Weifang) Limited (SDPWL) in Hong Kong. In March 2011, the company's subsidiary Sime Darby Eastern Investments Private Limited completed the acquisition of 100% equity in Haynes Mechanical Pty Ltd (HM), AC Haynes Investments Pty Ltd (ACHI) and DG Nominees Pty Ltd (DGN).GlobalData uses a range of research techniques to gather and verify its information and analysis. These include primary research, in-house knowledge and expertise, proprietary databases, and secondary sources such as company websites, annual reports, SEC filings and press releases.

Partnerships

Bhd. (SDP) and Mitsui & Co. Ltd, Japan (Mitsui) to carry out joint feasibility study to implement potential biomass/biogas power generation at Sime Darby Plantation oil mills.Under this potential collaboration, SDP could provide the plant sites and source of biogas fuel; Mitsui can provide the design, technical and financial expertise and TNB could assist on grid connection and provide the operation and maintenance expertise. Y. Bhg. Dalto' Ir.Azman Mohd, COO of TNB, said that TNB has been supporting the RE Developers under the Small Renewable Energy Program (SREP).

Sime Darby Berhad

Strengths/Weaknesses (SWOT)

	Helpful to achieving the objective	Harmful to achieving the objective
Internal Origin (attributes of the organization)	Strengths · Asset Efficiency · Increased Profitability · Diversified Portfolio	Weaknesses · Litigation
External Origin (attributes of the environment)	Opportunities · Geographical Spread · Demand of Heavy Equipments from Asia Pacific · Demand in European Market · Business Expansion	Threats · Intense Competition · Environmental regulations · Downturn in the Refining Sector

Overview

SDB is an investment holding company with expanding operating margin and comprehensive range of business activities and carried out in more than 20 countries through six business segments thereby helping the company to diversify its risk. On the other litigations and downturn in refinery sector may hamper its growth.

Strengths

Asset Efficiency

Sime Darby Berhad has significantly improved its fixed assets from MYR15633.9m in 2010 to MYR16222.6m in 2011, representing an increase of 3.77%. The current assets increased by 20.51% over 2010 to MYR22427m in 2011. The efficiencies of both current and fixed assets have improved. While the company's fixed asset turnover increased to 2.58 in 2011, as compared to 2.08 in 2010, its current asset turnover increased to 1.87 in 2011, as compared to 1.75 in 2010, indicating growing asset efficiencies as compared to 2010. Furthermore, its working capital turnover rose to 4.52 in 2011 from 4.47 in 2010.

Increased Profitability

The performance of the company is judged based on its profitability. In the year 2011, the company's revenue, gross profit and net profit were MYR41858.8m, MYR41858.8m and MYR3664.5m, an increase of 28.77%, 28.77% and 404.2% as compared to the MYR32506.2m, MYR3145.5m and MYR726.8m respectively in 2010. The operating margin, net profit margin, return on equity, return on capital employed, return on assets, return on fixed assets and return on working capital increased to 13.17%, 8.75%, 15.25%, 18.57%, 8.55%, 26.99% and 59.55% in 2011, as compared to 9.68%, 2.24%, 3.55%, 11.99%, 1.93%, 16.58% and 43.27% respectively in 2010. Increased profitability would not only increase the company's ability to attract more customers and investors, but also helps it to increase its market presence.

Diversified Portfolio

SDB operates in six business segments, which are Plantation, Property, Industrial, Motors, Energy & Utilities, Healthcare & Others. In the year ending June 2010, the Plantation segment generated 32.95% of the total revenue, followed by Motors 30.55%, Industrial 24%, Property 5.42%, Energy and Utilities 4.58% and Healthcare &Others segment accounts for 1.58%. The diversified portfolio helped the company to offset the risk associated with the single business line.

Weaknesses

Litigation

Sime Darby Berhad is facing litigation which may hamper its image and reduce its investors confidence in the market. In March 2011, Sime Darby Engineering Sdn Bhd (SDE), a wholly owned subsidiary of the company received the official suit papers filed into the Judicial Department of Abu Dhabi by Emirates International Energy Services (EMAS). EMAS has decided to take action against SDB for not participating in the projects identified for it after an agreement has been signed in September 2006. EMAS claims a total amount of $178,200,000 including all the issues. Previously, the company was also involved in two other law suits. PT Adhiyasa Saranamas (PTA S) filed a legal suit against Kumpulan Guthrie Berhad (KGB) and six of its Indonesian subsidiaries (collectively, the co-defendants) for an alleged breach of contract with regards to the provision of consultancy services in connection with the acquisition of subsidiaries in Indonesia. Berkeley Sdn Bhd (BSB) filed a legal suit against Consolidated Plantations Berhad (CPB) for breach of a sale and purchase agreement and seeks damages amounting to RM 54.0 million (or alternatively RM 34.0 million) on the basis that CPB had failed to deliver a subdivided title in respect of 85 acres of land purchased by BSB.

Opportunities

Geographical Spread

The company is headquartered in Malaysia. In addition its business is spread across the People’s Republic of China (including Hong Kong SAR and Macau SAR), Singapore and Australia. The group also operates in Negara Brunei, Indonesia, Thailand, Vietnam, the Philippines, the UK, New Zealand, the Solomon Islands, Papua New Guinea and New Caledonia. Huge geographical spread across 20 countries helps the company to maintain balanced growth potential and avoid the risk of being associated with a single market.

Demand of Heavy Equipments from Asia Pacific

Tractors Manufacturing & Assembly (TMA), a subsidiary of Sime Darby Industrial Sdn Bhd, is positioning itself to be a leading OEM of heavy equipment for international businesses. At present, the company is looking to expand its market in the Asia Pacific region. Sime Darby Industrial is investing to expand capacity in its existing assembly and manufacturing facility in Pasir Gudang, Johor and to produce a wider variety of industrial products. The TMA plant has established licensing and technical arrangements with world-class principals, manufacturing selected models of prime equipment under the Caterpillar, Terberg etc.

Demand in European Market

Sime Darby is investing in its current Unimills facilities in Zwijndrecht and other business locations in Europe to further strengthen its position in the oils and fats downstream business in Europe. Sime Darby has already identified various locations for palm oil processing facilities, including setting up a new refinery and bulking facilities which will complement the operations of its existing plant in Zwijndrecht, the Netherlands.

Business Expansion

The company took various initiatives over the past one year, which could enable it to expand its business. In October 2010, the company established SCI Sime Darby Invest NC (SCI), a subsidiary in New Caledonia, which would be focussing on acquiring and holding of a block of land to support, the company's future activities in New Caledonia. In March 2011, Sime Darby Berhad, through its wholly owned subsidiary, Sime Darby Eastern Investments Private Limited, has entered into an Share Sale and Purchase Agreement (SSPA) to acquire Haynes Mechanical Pty Ltd (HM), AC Haynes Investments Pty Ltd (ACHI) and DG Nominees Pty Ltd (DGN). In March 2011, Sime Darby Berhad, also incorporated Sime Darby Property (Weifang) Limited (SDPWL), an investment holding company in Hong Kong, which would operate the company's wholly owned subsidiary Sime Darby Property Berhad. The company's various initiatives to expand its business in both organic and inorganic form would enable to firmly establish itself in this competitive environment.

Threats

Intense Competition

The oil and gas industry is highly competitive. The company encounters strong competition from other independent companies and major oil companies in all aspects of its business, including acquiring properties and oil and gas leases, marketing oil and gas, contracting for drilling rigs and other equipment necessary for drilling and completing wells and securing trained personnel. Many of these competitors have financial and technical resources and staffs substantially larger than the company. As a result competitors may be able to pay more for desirable leases, or to evaluate, bid for and purchase a greater number of properties or prospects than the company’s financial or personnel resources permit. Inability to compete successfully may hamper the financial performance of the company.

Environmental regulations

SDB's business is subject to environmental regulation in all jurisdictions in which it operate, and its costs to comply are significant. Any changes in existing environmental regulation could affect the results of operations and financial condition. Its current costs to comply with these laws and regulations are significant to results of operations and financial condition. Failure to comply with these laws and regulations and failure to obtain any required permits and licenses may expose it to fines, penalties or interruptions in operations.

Downturn in the Refining Sector

The global refining industry is witnessing a slump following the global economic downturn after a rise in the past few years. Uncertain product demand due to the economic downturn, decreasing refinery margins and surplus refining capacity have a combined negative effect on profitability from refining operations. These trends will continue to cast a shadow of uncertainty over the future of refinery margins, thereby making the refining sector unattractive for the company. The decrease in the demand for petroleum products and low refinery margins forced many companies to cut throughput rates in their refineries or temporarily shut down the refineries. Furthermore, the prices of crude oil and petroleum products have dropped drastically from the peak of 2008, affecting the profitability of refineries. The meltdown in the financial sector has also made it difficult to raise finance for capital intensive refinery projects. While the situation has stabilized in 2010, these have prompted many companies to postpone or cancel their refinery investment plans.

Corporate Structure News

Sime Darby Berhad
Total Corporate Family Members: 30

Company Name	Company Type	Location	Country	Industry	Sales (USD mil)	Employees
Sime Darby Berhad	Parent	Kuala Lumpur	Malaysia	Crops	13,570.2	100,000
Sime Darby Plantation Sdn Bhd	Subsidiary	Subang Jaya, Selangor	Malaysia	Forestry and Wood Products	2,381.7	8,800
Sime Singapore Limited	Subsidiary	Singapore	Singapore	Miscellaneous Financial Services	629.4	2,708
Hastings Deering (Australia) Limited	Subsidiary	Toowomba , QLD	Australia	Construction and Agriculture Machinery	1,145.3	2,000
Union Sime Darby (Thailand) Limited	Affiliates	Lumpini, Pathumwan, Bangkok	Thailand	Insurance (Accident and Health)	750.0	1,000
Sime Darby Medical Centre Subang Jaya Sdn Bhd	Subsidiary	Kuala Lumpur, Wilayah Persekutuan	Malaysia	Healthcare Facilities	74.8	800
Tractors Malaysia Holdings Berhad	Subsidiary	Kuala Lumpur, Selangor	Malaysia	Construction and Agriculture Machinery	84.0	750
Sime Darby Industrial Sdn Bhd	Subsidiary	Puchong, Selangor	Malaysia	Metal Mining	211.5	1,585
Morakot Industries Public Co Ltd	Subsidiary	Phrapadaeng, Samut Prakan	Thailand	Food Processing		458
Guru Indonesia Pt	Subsidiary	Jakarta, Jakarta	Indonesia	Paper and Paper Products		290
Sime Darby (Thailand) Ltd	Subsidiary	Thonburi, Bangkok	Thailand	Auto and Truck Manufacturers	67.0	259
The China Engineers Limited	Subsidiary	Hong Kong	Hong Kong	Construction and Agriculture Machinery	1.0	200
BMW Concessionairies (HK) Ltd	Subsidiary	Kowloon, Kowloon	Hong Kong	Retail (Specialty)	1.0	200
Travelbiz & Tours Sdn Bhd	Subsidiary	Kuala Lumpur, Wilayah Persekutuan	Malaysia	Personal Services	3.5	170
Sime Darby Management Services (S) Pvt Ltd	Subsidiary	Singapore	Singapore	Food Processing	13.0	100
Sime Darby Motor Services Limited	Subsidiary	Tsuen Wan, New Territories	Hong Kong	Insurance (Accident and Health)	13.0	100
Sime Darby Hong Kong Ltd	Subsidiary	Hong Kong, Hong Kong	Hong Kong	Auto and Truck Manufacturers		100
Sime Insurance Brokers (S) Pte Ltd	Subsidiary	Singapore	Singapore	Insurance (Accident and Health)	26.0	20
Sime Darby Eastern Limited	Subsidiary	Singapore	Singapore	Crops	22.5
Universal Cars Limited	Subsidiary	Hong Kong	Hong Kong	Retail (Specialty)	1.0
Sime Darby Automobiles Pty Ltd.	Subsidiary	Sydney, NSW	Australia	Retail (Specialty)	1.0
Sime Darby Hong Kong Limited	Subsidiary	Hong Kong	Hong Kong	Auto and Truck Parts	1.0
Goodwood Motors Limited	Subsidiary	Hong Kong	Hong Kong	Retail (Specialty)	1.0
SD Far East (1991) Limited	Subsidiary	Hong Kong	Hong Kong	Construction Services	1.0
Wallace Harper & Company Limited	Subsidiary	Hong Kong	Hong Kong	Retail (Specialty)	0.1
Hyundai-Sime Darby Berhad	Subsidiary	Shah Alam	Malaysia	Miscellaneous Financial Services
Sime Travel Holdings Ltd	Subsidiary
Westminster Travel Ltd	Subsidiary	Tsim Sha Tsui	Hong Kong	Personal Services	26.5	500
Wincastle Travel (Hk) Ltd	Subsidiary	Kowloon, Kowloon	Hong Kong	Personal Services		70
Kumpulan Guthrie Berhad	Subsidiary

Executives Report

Board of Directors

Name	Title	Function
Musa Hitam	Independent Non-Executive Chairman of the Board	Chairman
Tun Musa Hitam is Independent Non-Executive Chairman of the Board of Sime Darby Berhad since September 29, 2007. He is the Chairman of Nomination & Remuneration Committee. He obtained his Bachelor of Arts degree from the University of Malaya and Master’s degree in International Relations from the University of Sussex, the United Kingdom. He has received Honorary Doctorates from the University of Sussex, Universiti Malaysia Sabah, University of Malaya and Universiti Teknologi MARA, and fellowship from the Malaysian Institute of Management and the Center for International Affairs, Harvard University. He is Chairman of Lion Industries Corporation Berhad, United Malayan Land Berhad, Yayasan Sime Darby, the CIMB Group’s International Advisory Panel and the World Islamic Economic Forum. He is also Joint Chairman of the Malaysia-China Business Council and a Member of the International Advisory Board Rotterdam. He was Chairman of Federal Land Development Authority (FELDA) and Kumpulan Guthrie Berhad. He was Deputy Minister of Trade and Industry, Minister of Primary Industries and Minister of Education, Deputy Prime Minister and Minister of Home Affairs. He also served as Malaysia’s Special Envoy to the United Nations and led the delegation to the United Nations Commission on Human Rights from 1993 to 1998. In 2005, he was appointed as Chairman of the Eminent Persons Group to draft the Association of South East Asian Nations (ASEAN) Charter. Education M International Relations, University of Sussex BA , University of Malaya
Bin Hitam Musa	Chairman	Chairman
Ahmad Sarji bin Abdul Hamid	Deputy Chairman	Vice-Chairman
Hamad Kama Piah Che Othman	Non-Independent Non-Executive Deputy Chairman of the Board	Vice-Chairman
Tan Sri Dato' Sri Hamad Kama Piah Che Othman is Non-Independent Non-Executive Deputy Chairman of the Board at Sime Darby Berhad since November 26, 2010. He is Member of the Company's Nomination & Remuneration Committee. He holds a Diploma in Statistics from Universiti Teknologi MARA, Malaysia and a Masters Degree in Philosophy from Swansea University, United Kingdom. He was conferred the Honorary Doctorate in Business Administration from Universiti Tenaga Nasional, Malaysia. He is Senior Fellow of the Financial Services Institute of Australasia, Certified Financial Planner of the Financial Planning Association of Malaysia and Registered Financial Planner of the Malaysian Financial Planning Council. He is currently President & Group Chief Executive of Permodalan Nasional Berhad (PNB) and Director of Amanah Saham Nasional Berhad, Pelaburan Hartanah Nasional Berhad, Amanah Mutual Berhad, Chemical Company of Malaysia Berhad and several other private limited companies. He is also Member of Yayasan Karyawan and Director of Securities Industry Dispute Resolution Centre (SIDREC). His career spans over 30 years in the fields of investment and unit trust management. Prior to taking the helm at PNB on February 1, 1998, he undertook various responsibilities in various facets of investment management and corporate finance in PNB including as portfolio manager and head of corporate restructuring. Education M Philosophy, Swansea University
Henry Sackville Barlow	Senior Independent Non-Executive Director	Director/Board Member
Dato' Henry Sackville Barlow is Senior Independent Non-Executive Director at Sime Darby Berhad since November 19, 2010. He is Chairman of the Governance & Audit Committee and Member of Nomination & Remuneration Committee and Tender Committee. He was educated at Eton College and obtained his Bachelor and Master of Arts degrees from University of Cambridge, the United Kingdom. He is Fellow of the Institute of Chartered Accountants in England and Wales. He is currently Director of HSBC Bank Malaysia Berhad and The International and Commonwealth University of Malaysia Berhad. He is Member of the Board of Trustees of Badan Warisan Malaysia and Director of several other private limited companies. He has over 35 years of experience in the plantation industry and was the Finance Director of Barlow Boustead Estates Agency Sdn B erhad and Joint Managing Director of Highlands & Lowlands Berhad. He was Council Member of the Incorporated Society of Planters and is currently Honorary Secretary of the Heritage Trust of Malaysia, and Honorary Treasurer of the Malaysian Branch of the Royal Asiatic Society. Education MA , University of Cambridge BA , University of Cambridge
Yusof Basiran	Non-Independent Non-Executive Director	Director/Board Member
Tan Sri Datuk Dr. Yusof Basiran is Non-Independent Non-Executive Director at Sime Darby Berhad since November 16, 2010. He has a Doctorate in Applied Economics & Management Science from the University of Stirling, Scotland, Masters Degree in Engineering (1976) specializing in Industrial Management (ME) and in Business Administration (MBA, 1976) from the Catholic University of Leuven (Katholieke Universiteit Leuven), Belgium, Post-Graduate Degree in Rubber Technology (ANCRT) in the United Kingdom and Bachelor in Chemical Engineering Degree from the University of Canterbury (1972), New Zealand. He completed his Doctorate with a Doctorate in Philosophy in Applied Economics & Management Science from the University of Stirling, Scotland in 1986. Prior to joining the Palm Oil Research Institute of Malaysia (PORIM) in 1979, He held the position of Rubber Technologist/Techno-Economist with the Rubber Research Institute (RRI)/Malaysian Rubber Research Development Board (MRRDB). He was later appointed as Director-General of PORIM in 1992 and held the position for eight years until April 2000 before assuming the role of Director-General of Malaysia Palm Oil Board (MPOB), a merged organisation between PORIM and Palm Oil Registration and Licensing Authority (PORLA) from 1 May 2000 to 18 January 2006. Tan Sri Datuk Dr Yusof is currently the Chief Executive Officer of the Malaysian Palm Oil Council (MPOC) and the Chairman of TH Plantations Berhad and CB Industrial Product Holding Berhad. Apart from holding distinguished corporate positions, he is also involved in other organizations, among others, Fellow Member and past President of the Academy Sciences Malaysia (ASM) and fellow members of the Malaysia Scientifi c Association (MSA), the Malaysian Oil Scientifi cs’ and Technologies’ Association (MOSTA) and the Incorporated Society of Planters. He is Member of the Risk Management Committee and Litigation Committee. Education PHD Applied Economics, University of Stirling MBA , Katholieke Universiteit Leuven ME Industrial Management, Katholieke Universiteit Leuven
Ahmad Tajuddin bin Ali	Director	Director/Board Member
Azmi Bin Mohd Ali	Non-Independent Non-Executive Director	Director/Board Member
Encik Azmi Bin Mohd Ali serves as Non-Independent Non-Executive Director at Sime Darby Berhad since November 16, 2010. He has a LLB (Bachelor of Laws, Hons) from University of Malaya, Malaysia and LLM (Master of Legal Letters) in US & Global Business Law from University of Suffolk (Suffolk University), Boston. He is also Adjunct Professor of Law at the International Islamic University of Malaysia’s Law Faculty. Encik Azmi, a corporate and commercial lawyer with 27 years of experience, is the Senior Partner of Azmi & Associates, a leading corporate and commercial law firm in Malaysia with close to 50 lawyers, since year 2000. Prior to this, he was a Partner in Hisham, Sobri and Kadir from 1995 to 2000. He started his career in Petroliam Nasional Berhad (PETRONAS) in 1984 and left PETRONAS’ employment as Head of Gas/New Ventures, Upstream Legal Department in 1990 to work in a boutique law firm of T. Tharu & Associates from 1990 to 1995. He currently sits on the Boards of Pernec Corporation Berhad, Chemical Company of Malaysia Berhad and Perbadanan Nasional Berhad. He is Member of the Company's Risk Management Committee and Litigation Committee. Education LLM , Suffolk University LLB , University of Malaya
Samsudin bin Osman	Director	Director/Board Member
Hamid Bugo	Independent Non-Executive Director	Director/Board Member
Tan Sri Datuk Amar Dr. Tommy Bugo @ Hamid Bugo is Independent Non-Executive Director of Sime Darby Berhad since August 26, 2010. He graduated from the University of Canterbury, New Zealand with a Bachelor and a Master of Arts in Economics. He also holds a Postgraduate Diploma in Teaching from Christchurch Teachers’ College New Zealand and a Postgraduate Certificate in Business Studies from Harvard Institute of Development Studies, United States. He was honored with a Doctorate in Philosophy (in Commerce) by Lincoln University, New Zealand. He is also recipient of an Excellence Award from the American Association of Conservation Biology. He has served in both the private and public sectors. He was Administration Manager of Malaysia, LNG Sdn Bhd for over three years while on secondment from State Planning Unit, Sarawak. He was appointed first General Manager of Land Custody and Development Authority, Sarawak and moved on to become Permanent Secretary of the Ministry of Resource Planning and State Secretary of Sarawak until his retirement from the civil service in August 2000. He currently sits on the board of several companies including SapuraCrest Petroleum Berhad, Sapura Resources Berhad, Superlon Holdings Berhad, Permodalan Sarawak Berhad, Sarawak Consolidated Industries Berhad and Zecon Berhad. He is also Board Member of the Institute Integrity Malaysia and Member of the Advisory Committee of the Malaysian Anti-Corruption Commission. He is involved in charitable activities as Member of Lembaga Amanah Kebajikan Masjid Negeri Sarawak, Chairman of Yayasan Kemajuan Insan Sarawak and Sarawak State Library Management Board. He was appointed Commissioner of the National Water Services Commission (SPAN) on May 2, 2011. He is Chairman of the Company's Risk Management Committee and Member of Governance & Audit Committee, Member of Nomination & Remuneration Committee and Member of Litigation Committee. Education MA Economics, University of Canterbury BA Economics, University of Canterbury
Sreesanthan Eliathamby	Independent Non-Executive Director	Director/Board Member
Mr. Sreesanthan Eliathamby is Independent Non-Executive Director at Sime Darby Berhad since August 26, 2010. He holds LLB (Bachelor of Laws, Hons) First Class from University of Malaya, Malaysia and B.C.L. (Postgraduate Degree in Law) from University of Oxford, United Kingdom. Mr. Sreesanthan is Partner with the legal firm of Messrs Kadir, Andri & Partners. He was formerly Legal Assistant and later a Partner with the legal firm of Messrs Zain & Co and subsequently a partner of Messrs Zul Rafique & Partners. He is Member of the Investment Committee of Amanah Saham Wawasan 2020 Fund managed by Permodalan Nasional Berhad and the Listing Committee of Bursa Malaysia. He has Directorship in Scomi Group Berhad, Guinness Anchor Berhad and Malayan Banking Berhad. He also serves as Member of the Governance and Audit Committee of the Company since November 16, 2010. He is Chairman of the Litigation Committee. Education LLB , University of Malaya Law, University of Oxford
Abdul Halim Ismail	Director	Director/Board Member
Haw Kuang Lim	Independent Non-Executive Director	Director/Board Member
Dato Sri Lim Haw Kuang is Independent Non-Executive Director of Sime Darby Berhad since August 26, 2010. He holds a Bachelor of Science (Computing Science) from Imperial College, University of London. He also holds a Master of Business Administration from IMD Switzerland (formerly International Management Institute, Geneva). He was appointed Executive Chairman of Shell Companies in China since September 2005. He joined Shell in Malaysia in 1978 and has since served in various capacities in IT, Finance, Natural Gas, Exploration and Production, Oil Products and Corporate Head Offices in different Shell operations. Before taking up his current position, he was Vice President, Strategy for Shell International in London (2004-2005). Among his earlier roles, he has been President, Oil Products for Asia Pacific and Middle East (Singapore 2002-2004), Chairman, Shell Malaysia (Kuala Lumpur 1999-2002), Managing Director, Shell Malaysia Exploration and Production (1997-2002), Senior Corporate Adviser, Asia Pacific, Shell International (London 1996-1997), and Business Development Manager for Former Soviet Union and Sakhalin, Shell International Gas (London 1994-1996). He has been appointed by the Chinese Government as Member of the China Council for International Cooperation in Environment and Development. He is currently Special Adviser to the President and Executive Committee of World Business Council for Sustainable Development, a global coalition of some 200 multinational corporations. He is Board Director of the China Business Council for Sustainable Development, and Honorary President of the Business Council for Sustainable Development in Malaysia, and has been awarded state honors by the Malaysian Government and the Great Wall Friendship award by the Beijing Municipal Government. He is Member of Risk Management Committee. Education MBA , International Institute for Management Development, Lausanne BS , University of London
Zaiton Mohd Hassan	Non-Independent Non-Executive Director	Director/Board Member
Puan Zaiton Mohd Hassan is Non-Independent Non-Executive Director at Sime Darby Berhad since November 16, 2010. She is Fellow of the Chartered Association of Certified Accountants, United Kingdom and Member of the Malaysian Institute of Certified Public Accountants. She is currently Director of BIMB Holdings Berhad, Malaysian Industrial Development Finance Berhad, Credit Guarantee Corporation Malaysia Berhad and Bank Islam Malaysia Berhad. She is also Commission Member of the Companies Commission of Malaysia and Director of several other private limited companies. She started her career in PricewaterhouseCoopers as audit trainee in 1976 and later joined Bank Pembangunan (M) Bhd as Project Officer. Subsequently, she was seconded to Bapema Corporation Sdn Bhd as Fund Manager. She is former President/Executive Director of Malaysian Rating Corporation Berhad (MARC) until September 2004 when she left to set up her own financial advisory firm, Capital Intelligence Advisors Sdn Bhd. Prior to her appointment in MARC, she had served 12 years with Malayan Banking Berhad in various senior positions including that of General Manager, Group Strategic Planning which she held until her resignation in 1996. She is Member of the Governance & Audit Committee and Litigation Committee.
Mohd Zahid Mohd Noordin	Non-Independent Non-Executive Director	Director/Board Member
Tan Sri Dato’ Dr.Wan Mohd Zahid Mohd Noordin has been Non-Independent Non-Executive Director of Sime Darby Berhad since September 14, 2007. He is a Member of the Tender Committee. He holds a Bachelor of Arts in Sociology from University of Malaya, Master’s degree from Stanford University and Doctorate in Philosophy in Sociology from University of California, Berkeley. He underwent a course in business management under the Advanced Management Program at Harvard Business School. He is Chairman of Universiti Teknologi MARA, FEC Cables (M) Sdn Bhd and Kolej Universiti Teknologi dan Pengurusan Malaysia. He is also Director of Permodalan Nasional Berhad (PNB), Amanah Saham Nasional Bhd, Yayasan Felcra Bhd, Perbadanan Usahawan Nasional Bhd, SP Setia Berhad and Yayasan Sime Darby. He was Chairman of Berger International Ltd based in Singapore and Deputy Chairman of International Bank Malaysia Berhad. Education PHD Sociology, University of California, Berkeley M , Stanford University BA Sociology, University of Malaya
Mohammed Zahid Noordin	Director	Director/Board Member
Samsudin Osman	Non-Independent Non-Executive Director	Director/Board Member
Tan Sri Samsudin Osman is Non-Independent Non-Executive Director of Sime Darby Berhad since December 19, 2008. He is the Chairman of Tender Committee and Investigative Reports Review Committee. He holds a Bachelor of Arts degree (1969) and a diploma in Public Administration from University of Malaya, and a Master in Public Administration from Pennsylvania State University (1980), the United States. He is at present President of Perbadanan Putrajaya. He is also Chairman of the Employees Provident Fund (EPF) Board, EPF Investment Panel, Universiti Utara Malaysia and BIMB Holdings Berhad. He was appointed the Pro Chancellor of Universiti Malaysia Terengganu on February 1, 2010. He was Chief Secretary to the Malaysian Government from 2001 to 2006. He was also Secretary General for two ministries, the Ministry of Domestic Trade and Consumer Affairs (1994) and the Ministry of Home Affairs (1996). He is Chairman of the Company's Tender Committee. Education ( M Public Administration, Pennsylvania State University BA , Universiti Malaya
Zaitoon Dato Othman	Director	Director/Board Member
Mohd Bakke Salleh	Chief Executive Officer, President, Executive Director	Director/Board Member
Dato' Mohd Bakke Salleh is Group Chief Executive Officer, President and Executive Director at Sime Darby Berhad since November 27, 2010. He has a Bachelor of Science (Economics) degree from the London School of Economics and Political Science (University of London), United Kingdom. He is a Fellow of the Institute of Chartered Accountants in England and Wales and a Member of the Malaysian Institute of Accountants. Prior to that, he was Acting President & Group Chief Executive of the Company. He was Group President & Chief Executive Officer of Felda Global Ventures Holdings Sdn Bhd and had also served as Group Managing Director of Felda Holdings Berhad, Group Managing Director and Chief Executive Officer of Lembaga Tabung Haji and Director, Property Division of Pengurusan Danaharta Nasional Berhad. He had previously worked with several subsidiaries within the Permodalan Nasional Berhad Group, namely, Managing Director of Federal Power Sdn Bhd (a manufacturer of power cables), Managing Director of Syarikat Perumahan Pegawai Kerajaan Sdn Bhd (a property developer) and Group General Manager of Island & Peninsular Group (a property developer and plantation company). Education BS Economics, University of London
Arifin Mohamad Siregar	Director	Director/Board Member
Mohamed Sulaiman	Director	Director/Board Member
Sheng Len Tao	Director	Director/Board Member
Arshad Raja Tun Uda	Director	Director/Board Member

Executives

Name	Title	Function
Ahmad Zubir Haji Murshid	President & Group Chief Executive Officer	Chief Executive Officer
Mohd Bakke Salleh	Chief Executive Officer, President, Executive Director	Chief Executive Officer
Dato' Mohd Bakke Salleh is Group Chief Executive Officer, President and Executive Director at Sime Darby Berhad since November 27, 2010. He has a Bachelor of Science (Economics) degree from the London School of Economics and Political Science (University of London), United Kingdom. He is a Fellow of the Institute of Chartered Accountants in England and Wales and a Member of the Malaysian Institute of Accountants. Prior to that, he was Acting President & Group Chief Executive of the Company. He was Group President & Chief Executive Officer of Felda Global Ventures Holdings Sdn Bhd and had also served as Group Managing Director of Felda Holdings Berhad, Group Managing Director and Chief Executive Officer of Lembaga Tabung Haji and Director, Property Division of Pengurusan Danaharta Nasional Berhad. He had previously worked with several subsidiaries within the Permodalan Nasional Berhad Group, namely, Managing Director of Federal Power Sdn Bhd (a manufacturer of power cables), Managing Director of Syarikat Perumahan Pegawai Kerajaan Sdn Bhd (a property developer) and Group General Manager of Island & Peninsular Group (a property developer and plantation company). Education BS Economics, University of London
Muhammad Hanafi Abdullah	Senior Vice President & Head of Group Corporate Assurance	Division Head Executive
John Edward Arkosi	Group Head - Compliance, Acting Head - Group Corporate Assurance	Division Head Executive
Mr. John Edward Arkosi, OBE, is Group Head of Compliance, Acting Head of Group Corporate Assurance of Sime Darby Berhad. Mr. Arkosi was appointed Group Head of Compliance on February 1, 2011. He is also Acting Head of Group Corporate Assurance (GCA), a position to which he was appointed on July 1, 2010. Prior to his present appointments to Group Head Office, Mr. Arkosi was Vice President GCA for Motors and Industrial Divisions and in the 12 months leading up to the merger of Kumpulan Sime Darby Berhad, Kumpulan Guthrie Berhad and Golden Hope Plantations Berhad in 2007, he also assumed the role of Head, GCA Sime Darby Plantations. Prior to his Malaysia-based appointments, Mr. Arkosi was Regional Audit Manager for Australia, New Zealand and the Pacific operations for Sime Darby Berhad based in Brisbane, Australia. Mr. Arkosi spent over 12 years in Papua New Guinea (PNG) with Coopers & Lybrand (now known as PriceWaterhouseCoopers) in audit and advisory, following which, he held several other senior employment and consultancy roles. Whilst in PNG, Mr. Arkosi was awarded an Order of the British Empire (OBE) by Her Majesty the Queen for Services to business and the community in the 1997 Queens Birthday Honors. Mr. Arkosi holds an accounting degree from Curtin University, Australia. He is Certified Practicing Accountant (CPA) since 1985 and Member of CPA Australia and the Institute of Internal Auditors, Australia and Malaysia. Education Accounting, Curtin University
Scott William Cameron	Executive Vice President - Industrial Division	Division Head Executive
Mr. Scott William Cameron is Executive Vice President for Industrial Division of Sime Darby Berhad. He started his career at Pricewaterhouse in Brisbane, Sydney and New York, before joining Hastings Deering as the Finance Director in June 1992. He was the Managing Director of Hastings Deering Group of Caterpillar Dealership which covers Queensland, Northern Territory, Papua New Guinea and Solomon Islands. He holds a degree in Commerce from University of Queensland in 1978 and is Fellow of the Institute of Chartered Accountants in Australia and Fellow of the Australian Institute of Company Directors. He has attended the Harvard Business School’s Advanced Management Program in Boston. Education Commerce, University of Queensland
Glenn Charles Daly	Group Head of Risk Management	Division Head Executive
Mr. Glenn Charles Daly is Group Head of Risk Management of Sime Darby Berhad since March 1, 2011. He has over 25 years of work experience in the Asia Pacific region whereby he spent several years working in the professional services industry specializing in risk management and internal audit. He was Director at Deloitte, Brisbane in Australia, Partner with Ernst & Young in Singapore, Principal with Ernst & Young in Sydney, Australia prior to his present appointment. Mr. Daly provided services to a range of clients in the mining, manufacturing, engineering, oil & gas, logistics, property, telecommunications, agribusiness and public sector. Mr. Daly has financial management experience having worked previously for the Departments of Defence and Finance, as Financial Controller of an engineering facility at Australian Defence Industries (ADI) and as Manager of Internal Audit in ADI’s corporate headquarters. Mr. Daly holds a Bachelor of Business Studies from the Monash University in Melbourne and is Member of CPA Australia. Education , Monash University
Franki Anthony Dass	Executive Vice President - Plantation Division	Division Head Executive
Mr. Franki Anthony Dass is Executive Vice President - Plantation Division at Sime Darby Berhad since December 1, 2010. He started his career in Kumpulan Guthrie Berhad in 1980 as Assistant Manager and has over 20 years of plantation experience. After various postings across Malaysia, he assumed post of General Manager of PT Minamas in Indonesia in 2002. He subsequently became Chief Operating Officer of PT Minamas in 2004, before becoming its Chief Executive Officer in 2007. He holds a Bachelor of Science in Agriculture from Universiti Pertanian Malaysia (now Universiti Putra Malaysia) and has completed various management and Master of Business Administration programs with the Malaysian Institute of Management and the Asian Institute of Management. Education BS Agriculture, Universiti Putra Malaysia
Hisham Hamdan	Executive Vice President-Group Strategy & Business Development	Division Head Executive
Jauhari Hamidi	Executive Vice President-Energy & Utilities Division	Division Head Executive
Dato' Ir. Jauhari Hamidi is Executive Vice President for Energy & Utilities Division of Sime Darby Berhad since August 1, 2010. He was Director of Special Projects and the Executive Vice President for Utilities Division and Managing Director of Sime UEP Properties Bhd. He has served in various capacities since joining the Group 27 years ago. He is a registered professional engineer with the Board of Engineers Malaysia and Member of the Institute of Engineers Malaysia. He has undergone the Directors-Training Program and Harvard Business School Senior Management Development Program. He holds a Bachelor of Science in Civil and Structural Engineering from University College Cardiff, the United Kingdom. Education BS Civil Engineering, Cardiff University
Tong Poh Keow	Group Chief Financial Officer	Division Head Executive
Sekhar Krishnan	Executive Vice President-Group Corporate Services	Division Head Executive
Philip Kunjappy	Executive Vice President - Group Corporate Services	Division Head Executive
Mr. Philip Kunjappy is Executive Vice President of the Group Corporate Services of Sime Darby Berhad since October 1, 2010. He is responsible for managing the legal and secretarial functions, as well as the commodity trading and marketing activities, and the non-core business operations of the Group. He started his career with Attlee, Edge & Lambert in Birmingham, the United Kingdom and subsequently joined Price Waterhouse, Kuala Lumpur in 1983. He also served as Finance Manager in Kuala Lumpur Kepong Bhd, Finance Director in Island & Peninsular Bhd and Senior Executive Director, Oils & Fats Subsidiaries in Felda Holdings Bhd prior to joining the Company on October 1, 2010. He is Fellow of the Institute of Chartered Accountants in England and Wales and Member of the Malaysian Institute of Certified Public Accountants, Malaysian Institute of Accountants and Malaysian Institute of Taxation.
Cheow Hock Lee	Executive Vice President - Motors Division	Division Head Executive
Reuters Biography (Sime Darby Berhad) Dato' Lee (Lawrence) Cheow Hock is Executive Vice President for Motor Division of Sime Darby Berhad. He joined the KSDB Group in April 1981. He was the Divisional Director of KDSB’s Motors Division before he assumed his present position. He was the Managing Director of subsidiaries within the Hyundai Group of KDSB’s Motor Division and has managed the Motor Division in Singapore, Australia, New Zealand and the People’s Republic of China, including Hong Kong and Macau. He is an Accountant by profession and a Fellow of the Institute of Chartered Accountants in England and Wales.
Kwea Seng Chong	Acting Executive Vice President, Energy & Utilities - China, Managing Director - Sime Darby Industrial Sdn Bhd	Managing Director
Mr. Chong Kwea Seng is Acting Executive Vice President, Energy & Utilities - China, Managing Director - Sime Darby Industrial Sdn Bhd of Sime Darby Berhad. Mr. Chong has held various positions since he commenced employment in 1978, among them Marketing Manager of Used Equipment, Sales Manager of New Machines, Area Sales Manager and Area Parts Manager. From 1992 to 1998, he was the General Manager of the KLIA Project, responsible for sales of equipment and product support. In 1998, he was promoted to General Manager, Used Equipment and later assumed the position of General Manager of Equipment in 2001, responsible for sales of Caterpillar (new and used) Equipment. Mr. Chong was formerly Director – Sales of Tractors Malaysia before his appointment as Managing Director of Sime Darby Industrial Sdn Bhd and The China Engineers, Limited; Sime Darby’s Caterpillar dealer company in China in July 2001. He was appointed Acting Executive Vice President, Energy & Utilities – China in December 2010. Mr. Chong holds a Diploma in Mechanical Engineering from Universiti Teknologi Malaysia and a Bachelor of Science (Mechanical Engineering) from Heriott-Watt University, United Kingdom. Education BS Mechanical Engineering, Heriott-Watt University
Louis Lu Desheng	Executive Vice President-Operations-China	Operations Executive
Abd Wahab Maskan	Group Chief Operating Officer, Managing Director - Sime Darby Property Berhad	Operations Executive
Dato’ Abd Wahab Maskan is Group Chief Operating Officer of Sime Darby Berhad since June 24, 2008. He is Managing Director of Sime Darby Property Berhad since June 1, 2011. He was Group Chief Executive of Kumpulan Guthrie Berhad and Golden Hope Plantations Berhad. He has held various management and Board positions in companies in Malaysia, Europe and Asia, covering estate and plantation management, refinery and oleochemicals, trading and marketing, property development and investment, engineering and construction and manufacturing. He holds a Bachelor of Science in Estate Management from University of Reading, the United Kingdom. He is Fellow of Royal Institution of Chartered Surveyors (England and the United Kingdom), Fellow of the Institution of Surveyors (Malaysia), Fellow of the Incorporate Society of Planters and Fellow of the Malaysian Institute of Management. Education BS Estate Management, University of Reading
Dato Maskan	COO	Operations Executive
Joseph Leong	Director-Health & Safety	Environment/Safety Executive
Norzilah Megawati Abdul Rahman	Group Secretary	Company Secretary
Puan Norzilah Megawati Abdul Rahman is Group Secretary of Sime Darby Berhad since September 29, 2007. She was Head for the Group Legal and Compliance of Kumpulan Guthrie Berhad (KGB). She joined KGB in 1994 as Manager, Group Chief Executive’s Office and was subsequently promoted to Controller, Corporate Business Development and Monitoring, and thereafter appointed as Director of Corporate Business Development and Human Resource. She has also served as an Executive Officer in various ares, including investment analysis, money market trading, corporate secretarial and legal, and as a Manager in the Group Chief Executive’s Office in Permodalan Nasional Berhad. She holds a degree in Law from University of Malaya, Kuala Lumpur, and is licensed Company Secretary. Education Law, University of Malaya
Norzillah Megaw Rahman	Group Company Secretary	Company Secretary
Tuck Onn Lee	Credit Manager	Finance Executive
Poh Keow Tong	Group Chief Financial Officer	Finance Executive
Madam Tong Poh Keow is Group Chief Financial Officer of Sime Darby Berhad since June 24, 2008. She was Chief Financial Officer of the Plantation Division of Sime Darby Berhad prior to her present appointment in June 2008. She was Head of Group Finance and Administration and Chief Finance Officer of Kumpulan Guthrie Berhad (KGB). She joined KGB Group in 1983 as an Accountant and Assistant Company Secretary of Highlands & Lowlands Berhad before becoming General Manager, Accounting and Financial Reporting and then Group General Manager, Finance (Group Accounting and Financial Reporting). She is a member of the Malaysian Institute of Accountants, member of the Institute of Chartered Secretaries and Administrators in the United Kingdom and a Fellow of the Association of Chartered Certified Accountants, the United Kingdom.
Nancy Poh Yew Yeoh	Manager-Tax	Corporate Tax Executive
Zulkifli Zainal Abidin	Executive Vice President of Human Resources	Human Resources Executive
Mr. Zulkifli Zainal Abidin is Executive Vice President of Human Resources of Sime Darby Berhad. He began his career with Sime Darby Berhad in 1989 as Head of Human Resource, Malaysia Region until 1997. In 1999, he joined Negara Properties (M) Berhad as Senior Manager, Human Resource & Administration. He joined Golden Hope Plantations Berhad (Property Division) as Acting Deputy General Manager Human Resource in 2002 and was confirmed as Deputy General Manager Human Resource in 2003. A year later, he was transferred to Golden Hope Plantations (Head Office) as Deputy General Manager, Human Resources and was promoted to General Manager the same year. He was appointed as Head of Human Resource, Plantation & Agri-business Division after the merger of Golden Hope Plantations Berhad, Kumpulan Guthrie Berhad and the Company in November 2007. He was subsequently promoted as Group Head, Group Human Resources in October 2009 prior to his present appointment as Executive Vice President - Group Human Resources on July 1, 2011. He holds a Masters in International Affairs as well as a Bachelor in Business Administration from Ohio University, United States. He has also attended the Harvard Senior Management Development Program. Education M International Affairs, Ohio University B Business Administration, Ohio University
Mohamed Ishak A Hamid	Executive Vice President-Human Resources	Human Resources Executive
Roslan bin Abdul Razak	Manager-Training	Training Executive
Alan Hamzah Sendut	Executive Vice President - Strategy & Business Development	Business Development Executive
Encik Alan Hamzah Sendut is Executive Vice President - Strategy & Business Development of Sime Darby Berhad since September 16, 2010. He oversees the Corporate Finance, Value Management & Investor Relations, Corporate Planning and Budgeting, Capital Management, Merger & Acquisition and Special Projects departments. He started his career with Price Waterhouse, London, and had worked with several multinational companies in Malaysia before joining KSDB in 1996. He has held various senior financial positions within the KSDB Group, including Finance Director of Tractors Malaysia Holdings Berhad and Finance Director of Consolidated Plantations Berhad. He was the Global Operations Manager, Payment Services for BHP Billiton Malaysia. He holds a Bachelor of Science in Accountancy and Computer Science from University of Wales, the United Kingdom. He is a Chartered Accountant (Institute of Chartered Accountants in England and Wales) by profession and is a Member of the Malaysian Institute of Accountants. Education BS Computer Science, University of Wales
Raja Azlan	Strategic Planning Director	Planning Executive
Putra Badlishah Ibni Tunku Annuar	Executive Vice President-Property	Facilities Executive
Halim Bin Hj Ismail Abdul	Director	Other
Azhar Abdul Hamid	Executive Vice President-Plantations	Other
Dato Annuar	Executive Vice President	Other
Mohammed Shukri Baharom	Executive Vice President-Energy	Other
Lawrence Lee	Executive Vice President-Motors	Other
Anwar Md Tahir Nuril	Executive	Other
Mohd Zahid Bin Mohd Noordin Wan	Director	Other
Bte Othman Zaitoon	Director	Other

Significant Developments

Caterpillar Inc. To Sell Part Of Bucyrus Distribution Business To Sime Darby Berhad's Industrial Division

Dec 14, 2011

Caterpillar Inc. announced that the Industrial Division of Sime Darby Berhad has acquired a portion of the former Bucyrus distribution business, which was included in Caterpillar's purchase of Bucyrus. The transaction, valued at approximately $360 million(subject to certain adjustments), encompasses the Sime Darby Industrial Cat dealerships operated by Hastings Deering in Queensland and the Northern Territory of Australia, Papua New Guinea and New Caledonia. This deal marks the first of several that are expected to transition the product distribution and support of former Bucyrus machinery to Cat dealers that support mining customers around the world. While not part of the transaction, Caterpillar also intends to start selling former Bucyrus mining products through Sime Darby's other Cat dealerships.

Sime Darby Berhad Announces Dissolution Of Sime Darby Financial Services Holdings Sdn Bhd

Dec 12, 2011

Sime Darby Berhad announced that its subsidiary, Sime Darby Financial Services Holdings Sdn Bhd (SDFSH), which was placed under Members' Voluntary Liquidation on December 15, 2009, was dissolved on December 12, 2011, after the expiration of three months from the date of lodgment of the Return by Liquidator relating to Final Meeting with the Companies Commission of Malaysia.

Sime Darby Berhad Announces Dissolution Of Six Dormant Subsidiaries

Nov 24, 2011

Sime Darby Berhad announced that its wholly owned dormant subsidiaries, Guthrie Bina Sdn Bhd, Guthrie Ropel Development Sdn Bhd, Negara Properties Leisure Management Sdn Bhd, Puri Bahagia Sdn Bhd, Ecopuri Sdn Bhd and Golden Hope Properties (Melaka) Sdn Bhd, which were placed under Members' Voluntary Liquidation were dissolved on November 24, 2011.

Sime Darby Berhad Incorporates Sime Darby Plantation Cameroon Ltd

Oct 28, 2011

Sime Darby Berhad announced the incorporation of Sime Darby Plantation Cameroon Ltd (SDPCL) in the Republic of Cameroon on October 20, 2011. The principal activities of SDPCL are cultivation of oil palm and/or rubber trees and subsequent production of oil palm and/or rubber products for use in Cameroon and/or for export and vegetable oil refinery and bulking activities in Cameroon.

Sime Darby Berhad's Sub-subsidiary Incorporates Sime Darby Industrial Australia Pty Ltd

Oct 11, 2011

Sime Darby Berhad announced the incorporation of Sime Darby Industrial Australia Pty Ltd (SDIAPL) in Australia on October 10, 2011. The paid-up capital of SDIAPL of AUD 2.00 divided into two ordinary shares of AUD 1.00 each is held by Sime Darby Eastern Investment Private Limited , a wholly owned subsidiary of Sime Darby Industrial Holdings Sdn Bhd (formerly Sime Darby Tractors Enterprise Sdn Bhd), which in turn, is a wholly owned subsidiary of Sime Darby Berhad. The intended principal activity of SDIAPL is investment holding.

Sime Darby Berhad's Subsidiary Incorporates Foshan Sime Darby Elco Power Equipment Limited

Sep 26, 2011

Sime Darby Berhad announced the establishment of Foshan Sime Darby Elco Power Equipment Limited (FSDEPEL) in the People's Republic of China (PRC) on September 22, 2011. The entire registered capital of FSDEPEL of CNY 5,000,000 (approximately MYR 2,444,960) will be held by The China Engineers (South China) Limited, a wholly-owned subsidiary of Sime Darby Berhad. The principal activities of FSDEPEL will be the wholesale of diesel generators and spare parts, import and export and commission agent (excluding auction) (retail outlet excluded as those are subject to industry permits and should be handled in accordance with the related rules of the PRC.

Sime Darby Berhad Announces Liquidation Of Avidat Sdn Bhd And Guthrie Export Sdn Bhd

Sep 21, 2011

Sime Darby Berhad announced that its wholly owned subsidiaries, Avidat Sdn Bhd and Guthrie Export Sdn Bhd, which were placed under Members' Voluntary Liquidation on May 29, 2009 and June 30, 2009, respectively and held their final meetings on June 14, 2011, were dissolved on September 21, 2011, after the expiration of three months from the date of lodgment of the Return by Liquidator relating to the Final Meeting with the Companies Commission of Malaysia.

Sime Darby Berhad To Acquire 30% Equity Interest In Eastern and Oriental Berhad

Aug 29, 2011

Sime Darby Berhad announced that it has agreed to acquire a strategic stake in Eastern & Oriental Berhad (E&O) and facilitate future collaborations between the two companies. The Company has agreed to acquire 273 million E&O Shares and 60 million Irredeemable Convertible Secured Loan Stocks (ICSLS) in E&O which on a fully diluted basis represents approximately 30% equity interest in the niche property developer. Sime Darby will acquire the stake from Dato' Tham Ka Hon, the Managing Director of E&O and several other major shareholders of E&O. At the same time, the two companies also entered into a three-year collaboration agreement to formalise a broad collaborative framework with regard to their property development businesses. At a price of MYR 2.30 per E&O share, the total consideration for the proposed acquisition is MYR 766 million. The Collaboration Agreement was entered into with the following objectives: the sharing of knowledge and expertise; the leveraging on each other's respective core competencies; and where mutually identified and on agreed terms, the exploitation of economic opportunities jointly. The Collaboration Agreement shall be in full force and effect for a period of three years from the date of the agreement

Sime Darby Berhad Announces Winding-up Of Paul Tiefenbacher GmbH

Aug 26, 2011

Sime Darby Berhad announced that its wholly owned subsidiary, Paul Tiefenbacher GmbH (PT), has resolved that PT will be wound-up voluntarily effective August 26, 2011.

Sime Darby Berhad Announces FY 2011 Final Dividend

Aug 25, 2011

Sime Darby Berhad announced a final single tier dividend of MYR 0.22 per ordinary share for the year ended June 30, 2011. The entitlement date is December 1, 2011 and the dividend will be paid on December 15, 2011.

Court Dismiss Case Filed By Emirates International Energy Services Against Sime Darby Berhad's Subsidiary

Aug 23, 2011

Sime Darby Berhad announced that the Court has issued a final judgment and decided to dismiss and reject Emirates International Energy Services' case against Sime Darby Engineering Sdn Bhd (SDE) based on SDE's arbitration plea. The solicitors have informed SDE that the case is now closed and has no further legal effect against SDE.

Sime Darby Berhad's Sub-subsidiary Incorporates Weifang Sime Darby Property Management Co. Ltd

Aug 04, 2011

Sime Darby Berhad announced the establishment of Weifang Sime Darby Property Management Co. Ltd (WSDPM) in the People's Republic of China on August 2, 2011. The entire registered share capital of WSDPM of CNY 3 million is held by Weifang Sime Darby Property Co. Ltd, a subsidiary of Sime Darby Overseas (HK) Limited, which in turn is a subsidiary of Sime Darby. The principal activity of WSDPM is property management services.

Sime Darby Berhad Announces Dissolution Of Tahan Enterprise Sdn Bhd

Jul 29, 2011

Sime Darby Berhad announced that its subsidiary, Tahan Enterprise Sdn Bhd, which was placed under Members' Voluntary Liquidation on December 15, 2009, was dissolved on July 29, 2011.

Sime Darby Berhad Announces Deregistration Of Shenzhen Xin Chuang Motor Trading Company Limited

Jul 19, 2011

Sime Darby Berhad announced that further to an application for voluntary deregistration made by Shenzhen Xin Chuang Motor Trading Company Limited (SXCM), an indirect wholly owned subsidiary of the Company, SXCM has received notification from the Market Supervision Administration of Shenzhen Municipality (formerly Industrial & Commercial Administration Bureau of Shenzhen), China, that it has been deregistered with effect from July 14, 2011.

Sime Darby Berhad Announces Winding Up Of Subsidiaries

Jun 30, 2011

Sime Darby Berhad announced that its indirect wholly owned subsidiaries, Sime Darby Catering Services Sdn Bhd (SDCS) and Sime Darby Property (SJCC) Sdn Bhd, have ceased their operations and will be wound up voluntarily.

Sime Darby Berhad Announces Incorporation Of Sime Darby Joy (Shanghai) Company Limited

Jun 21, 2011

Sime Darby Berhad announced the establishment of Sime Darby Joy (Shanghai) Company Limited (SDJS) in the People's Republic of China on June 3, 2011. The entire registered capital of SDJS of CNY 2.0 million (MYR 1.0 million) will be held by its indirect 55% owned subsidiary, Sime Darby Joy Industries Sdn Bhd. The principal activity of SDJS will be the supply of process equipment and heat exchanger for selected China market.

Sime Darby Berhad Announces Dissolution Of PB Packaging Systems (Singapore) Pte Ltd

Jun 02, 2011

Sime Darby Berhad announced that its indirect 66.6%-owned subsidiary, PB Packaging Systems (Singapore) Pte Ltd, which was placed under Members' Voluntary Liquidation on September 27, 2010, and held its final meeting on March 2, 2011, was dissolved on June 2, 2011.

Sime Darby Berhad's Sime Darby Engineering Sdn Bhd Enters Into Memorandum Of Agreement With Petroliam Nasional Berhad And Malaysia Marine And Heavy Engineering Holdings Berhad

May 27, 2011

Sime Darby Berhad announced that its indirect wholly owned subsidiary, Sime Darby Engineering Sdn Bhd (SDE) had, on May 27, 2011, entered into separate Memoranda of Understanding (MOUs) with Petroliam Nasional Berhad (Petronas) and Marine And Heavy Engineering Holdings Berhad (MHB) in relation to the proposed disposals of Teluk Ramunia Fabrication yard to Petronas for a provisional disposal price of MYR 296 million, and Pasir Gudang fabrication yard to MHB for a provisional disposal price of MYR 399 million. The disposal prices shall be satisfied entirely in cash and are subject to change depending on the outcome of the due diligence to be performed on the Assets.

Sime Darby Berhad Announces Dissolution Of Golden Hope Properties (Perak) Sdn Bhd

Apr 26, 2011

Sime Darby Berhad announced that its subsidiary, Golden Hope Properties (Perak) Sdn Bhd, which was placed under Members' Voluntary Liquidation on April 15, 2010, was dissolved on April 26, 2011.

Sime Darby Berhad's Subsidiary Receives Contract From Kebabangan Petroleum Operating Company Sdn Bhd

Apr 25, 2011

Sime Darby Berhad announced that its wholly owned subsidiary, Sime Darby Engineering Sdn Bhd, has been awarded the contract to fabricate KBB Topsides for the Kebabangan Northern Hub Development Project (Contract) by Kebabangan Petroleum Operating Company Sdn Bhd on April 22, 2011, for a contract sum of MYR 1,150,000,000. The contract will be undertaken over a period of 29 months effective from April 22, 2011.

Sime Darby Berhad Announces Dissolution Of Glengowrie Properties Sdn Bhd

Apr 07, 2011

Sime Darby Berhad announced that its subsidiary, Glengowrie Properties Sdn Bhd, was dissolved on April 7, 2011.

Sime Darby Berhad Signs MOU With Tenaga Nasional Berhad And Mitsui & Co., Ltd.

Apr 04, 2011

Sime Darby Berhad announced that it has signed a Memorandum of Understanding (MOU) with Tenaga Nasional Bhd (TNB) and Mitsui & Co., Ltd. to collaborate on a study on the potential of biogas power generation in Sime Darby Plantation's estates. Under the plan, Sime Darby Plantation will provide "sites" for the feasibility study through their palm oil mills which produce Palm Oil Mill Effluent (POME) that generates biogas in the form of methane. Mitsui & Co. will provide the design and technical expertise in trapping the biogas, while TNB will provide operations and maintenance (O&M) expertise and potentially assist in connecting the electricity generated to the national grid.

Sime Darby Berhad's Subsidiary Incorporates Sime Darby Property (Weifang) Limited

Mar 18, 2011

Sime Darby Berhad announced the incorporation of Sime Darby Property (Weifang) Limited (SDPWL) in Hong Kong on March 16, 2011. The entire paid-up share capital of SDPWL of HKD 100 divided into 100 shares of HKD 1.00 each is held by Sime Darby Property Berhad, a wholly-owned subsidiary of the Company. The principal activity of SDPWL shall be investment holding.

Sime Darby Berhad's Subsidiary Acquires Haynes Mechanical Pty Ltd, AC Haynes Investments Pty Ltd And DG Nominees Pty Ltd

Mar 18, 2011

Sime Darby Berhad announced that its wholly owned subsidiary, Sime Darby Eastern Investments Private Limited, has completed the acquisition of 100% equity in Haynes Mechanical Pty Ltd (HM), AC Haynes Investments Pty Ltd (ACHI) and DG Nominees Pty Ltd (DGN) on March 18, 2011.

Sime Darby Berhad's Subsidiary Receives Suit Papers Filed By Emirates International Energy Services

Mar 17, 2011

Sime Darby Berhad announced that wholly owned subsidiary, Sime Darby Engineering Sdn Bhd (SDE), has received the official suit papers filed into the Judicial Department of Abu Dhabi by Emirates International Energy Services (EMAS) on March 16, 2011. EMAS and SDE have entered into an exclusive Agency Agreement in September 2006, within the territory of the United Arab Emirates. EMAS is taking action against SDE for compensation for not participating in the projects that EMAS had identified for SDE. The amount claimed by EMAS is an aggregate amount of USD 178,200,000 comprising a payment of USD 128,200,000 and USD 50,000,000 for commissions and moral compensation, respectively.

Sime Darby Berhad's Subsidiary To Acquire Haynes Mechanical Pty Ltd, AC Haynes Investments Pty Ltd And DG Nominees Pty Ltd

Mar 15, 2011

Sime Darby Berhad announced that its wholly owned subsidiary, Sime Darby Eastern Investments Private Limited, has entered into a Share Sale and Purchase Agreement (SSPA) to acquire 100% equity in Haynes Mechanical Pty Ltd (HM), AC Haynes Investments Pty Ltd (ACHI) and DG Nominees Pty Ltd (DGN) for a total cash consideration of up to AUD 19.6 million (approximately MYR 60 million).

Sime Darby Berhad Announces Ownership Interest Of AmanahRaya Trustees Berhad - Skim Amanah Saham Bumiputera

Mar 10, 2011

Sime Darby Berhad announced that AmanahRaya Trustees Berhad - Skim Amanah Saham Bumiputera has an interest of 1,996,722,992 units, representing 38.24% of the total shares in the Company. Previously, AmanahRaya Trustees Berhad - Skim Amanah Saham Bumiputera had 34.96% interest in the Company.

Sime Darby Berhad Announces Ownership Interest Of Employees Provident Fund Board

Mar 08, 2011

Sime Darby Berhad announced that Employees Provident Fund Board is holding 1,500,000 units, representing 0.02% of the total shares in the Company. Previously, Employees Provident Fund Board had 11.58% interest in the Company.

Sime Darby Berhad Announces FY 2011 Interim Dividend

Feb 24, 2011

Sime Darby Berhad announced its interim dividend of MYR 0.08 per share for the fiscal year 2011. The dividend will be paid on May 11, 2011, and the entitlement date is April 25, 2011.

Sime Darby Berhad Incorporates SCI Sime Darby Invest NC

Feb 08, 2011

Sime Darby Berhad announced the establishment of SCI Sime Darby Invest NC (SCI), a new subsidiary in New Caledonia on October 26, 2010. The Certificate of Incorporation dated October 26, 2010 was received by Sime Darby on January 31, 2011. The paid-up share capital of SCI of XPF100,000divided into 10,000 shares of XPF10 each, will be held by Caltrac SAS (9,999 shares), an indirect wholly owned subsidiary of Sime Darby and Mr. Scott William Cameron (one share). The principal activities of SCI will be the acquiring and holding of a block of land to support future planned growth in New Caledonia.

Sime Darby Berhad Announces Holding Interest Of Employees Provident Fund Board

Jan 28, 2011

Sime Darby Berhad announced that Employees Provident Fund Board has 695,711,853 (units), representing 11.58% of interest in the Company.

Sime Darby Berhad Announces Deregistration of Par Resources (Holdings) Limited

Dec 29, 2010

Sime Darby Berhad (Sime Darby) announced that further to an application for voluntary deregistration made by Par Resources (Holdings) Limited (PRHL), an indirect wholly owned subsidiary of Sime Darby, PRHL had, on December 28, 2010, received notification from the Registrar of Companies in Hong Kong that it has been deregistered with effect from December 17, 2010. PRHL was incorporated in Hong Kong as a private limited company on March 15, 1994 and its principal activity was that of investment holding. PRHL ceased operations in June 2009 and is dormant.

Sime Darby Berhad Files Civil Suit In High Court of Malaya at Kuala Lumpur

Dec 24, 2010

Sime Darby Berhad (Sime Darby) announced the filing of a civil suit in the High Court of Malaya at Kuala Lumpur on December 24, 2010 against Dato' Seri Ahmad Zubair @ Ahmad Zubir bin Haji Murshid, Dato' Mohamad Shukri bin Baharom and Abdul Rahim bin Ismail (together, Defendants) in connection with the losses suffered by the Sime Darby in connection with Package CW2- Main Civil Works in relation to the Bakun Hydroelectric Project (Bakun Project) and in respect of the Receipt, Discharge and Indemnity Agreement (Indemnity Agreement) given to Dato' Mohamad Shukri bin Baharom. Steps will be taken to serve the Writ of Summons and Statement of Claim upon the Defendants once the sealed copies of the Writ of Summons and Statement of Claim are extracted from the Registry of the High Court.

Annual Income Statement

Financials in: USD (mil)

Except for share items (millions) and per share items (actual units)

Financial Glossary

	30-Jun-2011	30-Jun-2010	30-Jun-2009	30-Jun-2008	30-Jun-2007
Period Length	12 Months	12 Months	12 Months	12 Months	12 Months
UpdateType/Date	Updated Normal 30-Jun-2011	Restated Normal 30-Jun-2011	Reclassified Normal 30-Jun-2010	Reclassified Normal 30-Jun-2009	Restated Normal 30-Jun-2008
Filed Currency	MYR	MYR	MYR	MYR	MYR
Exchange Rate (Period Average)	3.084602	3.385057	3.515259	3.315347	3.556314
Auditor	PricewaterhouseCoopers LLP	PricewaterhouseCoopers LLP	PricewaterhouseCoopers LLP	PricewaterhouseCoopers LLP	PricewaterhouseCoopers LLP
Auditor Opinion	Unqualified	Unqualified	Unqualified	Unqualified	Unqualified
Net Sales	13,570.2	9,602.9	8,822.6	10,268.8	7,938.1
Revenue	13,570.2	9,602.9	8,822.6	10,268.8	7,938.1
Total Revenue	13,570.2	9,602.9	8,822.6	10,268.8	7,938.1
Cost of Revenue	10,049.5	7,068.6	6,785.4	7,576.1	5,741.9
Cost of Revenue, Total	10,049.5	7,068.6	6,785.4	7,576.1	5,741.9
Gross Profit	3,520.8	2,534.3	2,037.2	2,692.7	2,196.2
Selling/General/Administrative Expense	20.2	59.9	-	-	-
Labor & Related Expense	1,246.3	976.0	832.1	821.5	773.6
Total Selling/General/Administrative Expenses	1,266.5	1,035.8	832.1	821.5	773.6
Research & Development	36.0	32.1	28.3	10.0	-
Depreciation	326.4	265.1	211.8	217.8	188.5
Amortization of Intangibles	19.1	16.8	20.9	23.3	21.9
Depreciation/Amortization	345.5	281.9	232.8	241.1	210.3
Investment Income - Operating	-19.7	13.5	-4.4	15.9	-
Interest/Investment Income - Operating	-19.7	13.5	-4.4	15.9	-
Interest Expense (Income) - Net Operating Total	-19.7	13.5	-4.4	15.9	-
Impairment-Assets Held for Use	76.9	96.5	24.1	19.7	-
Impairment-Assets Held for Sale	18.5	19.8	27.1	7.7	-
Loss (Gain) on Sale of Assets - Operating	-40.3	-44.3	-50.5	1.8	-
Unusual Expense (Income)	55.1	71.9	0.7	29.2	-
Other Operating Expense	272.6	349.9	198.7	256.6	574.3
Other, Net	-212.8	-180.1	-147.7	-231.3	-371.7
Other Operating Expenses, Total	59.8	169.8	51.1	25.2	202.6
Total Operating Expense	11,792.6	8,673.6	7,926.0	8,719.0	6,928.4
Operating Income	1,777.6	929.2	896.7	1,549.9	1,009.6
Interest Expense - Non-Operating	-114.1	-83.8	-72.9	-81.1	-89.1
Interest Capitalized - Non-Operating	4.6	5.4	1.1	0.4	1.2
Interest Expense, Net Non-Operating	-109.4	-78.3	-71.9	-80.7	-87.8
Interest Income - Non-Operating	44.4	26.5	45.1	68.0	51.1
Investment Income - Non-Operating	48.0	-50.0	3.8	33.2	31.6
Interest/Investment Income - Non-Operating	92.5	-23.5	49.0	101.2	82.7
Interest Income (Expense) - Net Non-Operating Total	-17.0	-101.9	-22.9	20.5	-5.2
Other Non-Operating Income (Expense)	5.9	5.3	-	-	-
Other, Net	5.9	5.3	-	-	-
Income Before Tax	1,766.6	832.7	873.8	1,570.4	1,004.5
Total Income Tax	519.6	267.5	207.9	438.5	250.0
Income After Tax	1,247.0	565.2	665.9	1,131.9	754.5
Minority Interest	-59.5	-37.8	-17.3	-72.5	-83.6
Net Income Before Extraord Items	1,187.5	527.3	648.6	1,059.3	670.8
Discontinued Operations	0.5	-312.6	-	-	-
Total Extraord Items	0.5	-312.6	-	-	-
Net Income	1,188.0	214.7	648.6	1,059.3	670.8
Income Available to Common Excl Extraord Items	1,187.5	527.3	648.6	1,059.3	670.8
Income Available to Common Incl Extraord Items	1,188.0	214.7	648.6	1,059.3	670.8
Basic/Primary Weighted Average Shares	6,009.5	6,009.5	6,009.5	5,889.7	5,403.0
Basic EPS Excl Extraord Items	0.20	0.09	0.11	0.18	0.12
Basic/Primary EPS Incl Extraord Items	0.20	0.04	0.11	0.18	0.12
Dilution Adjustment	0.0	0.0	0.0	0.1	0.2
Diluted Net Income	1,188.0	214.7	648.6	1,059.4	671.0
Diluted Weighted Average Shares	6,009.5	6,009.5	6,009.5	5,902.2	5,438.0
Diluted EPS Excl Extraord Items	0.20	0.09	0.11	0.18	0.12
Diluted EPS Incl Extraord Items	0.20	0.04	0.11	0.18	0.12
Dividends per Share - Common Stock Primary Issue	0.10	0.03	0.05	0.09	0.07
Gross Dividends - Common Stock	584.5	177.5	325.6	692.4	170.0
Interest Expense, Supplemental	99.8	78.3	71.9	80.7	87.8
Interest Capitalized, Supplemental	-4.6	-5.4	-1.1	-0.4	-1.2
Depreciation, Supplemental	326.4	265.1	207.1	220.4	176.2
Total Special Items	55.1	71.9	0.7	13.9	-
Normalized Income Before Tax	1,821.7	904.6	874.5	1,584.3	1,004.5
Effect of Special Items on Income Taxes	16.2	23.1	0.2	3.9	-
Inc Tax Ex Impact of Sp Items	535.8	290.6	208.1	442.4	250.0
Normalized Income After Tax	1,285.9	614.0	666.4	1,141.9	754.5
Normalized Inc. Avail to Com.	1,226.4	576.2	649.2	1,069.4	670.8
Basic Normalized EPS	0.20	0.10	0.11	0.18	0.12
Diluted Normalized EPS	0.20	0.10	0.11	0.18	0.12
Amort of Intangibles, Supplemental	19.1	16.8	20.9	23.3	21.9
Rental Expenses	79.6	57.7	46.5	-	41.8
Research & Development Exp, Supplemental	36.0	32.1	28.3	10.0	4.6
Normalized EBIT	1,813.0	1,014.6	893.0	1,579.6	1,009.6
Normalized EBITDA	2,158.5	1,296.6	1,121.0	1,823.3	1,207.7
Current Tax - Domestic	255.8	142.4	195.7	275.1	126.6
Current Tax - Foreign	248.2	152.0	96.4	190.7	99.2
Current Tax - Other	37.7	-25.2	-4.8	-8.9	11.1
Current Tax - Total	541.7	269.2	287.3	456.9	236.9
Deferred Tax - Domestic	-15.1	-4.3	-32.6	-18.4	13.1
Deferred Tax - Other	-6.9	2.6	-46.8	-	-
Deferred Tax - Total	-22.1	-1.7	-79.4	-18.4	13.1
Income Tax - Total	519.6	267.5	207.9	438.5	250.0
Interest Cost - Post-Retirement	2.5	4.4	2.3	0.9	1.3
Service Cost - Post-Retirement	7.2	7.4	4.3	8.1	7.4
Prior Service Cost - Post-Retirement	0.1	0.3	0.1	5.5	0.0
Expected Return on Assets - Post-Retir.	-1.3	-1.1	-1.4	-1.4	-1.2
Post-Retirement Plan Expense	8.4	11.0	5.2	13.1	7.5
Defined Contribution Expense - Domestic	56.7	46.9	41.3	43.2	42.1
Total Pension Expense	65.1	57.9	46.5	56.3	49.6
Discount Rate - Domestic	1.80%	2.00%	2.00%	-	-
Expected Rate of Return - Domestic	7.00%	7.00%	5.10%	-	-
Compensation Rate - Domestic	1.50%	1.50%	1.50%	-	-
Total Plan Interest Cost	2.5	4.4	2.3	0.9	1.3
Total Plan Service Cost	7.2	7.4	4.3	8.1	7.4
Total Plan Expected Return	-1.3	-1.1	-1.4	-1.4	-1.2

Annual Balance Sheet

Financials in: USD (mil)

Financial Glossary

	30-Jun-2011	30-Jun-2010	30-Jun-2009	30-Jun-2008	30-Jun-2007
UpdateType/Date	Updated Normal 30-Jun-2011	Reclassified Normal 30-Jun-2011	Reclassified Normal 30-Jun-2011	Updated Normal 30-Jun-2008	Restated Normal 30-Jun-2008
Filed Currency	MYR	MYR	MYR	MYR	MYR
Exchange Rate	3.0195	3.2375	3.515	3.2675	3.4525
Auditor	PricewaterhouseCoopers LLP	PricewaterhouseCoopers LLP	PricewaterhouseCoopers LLP	PricewaterhouseCoopers LLP	PricewaterhouseCoopers LLP
Auditor Opinion	Unqualified	Unqualified	Unqualified	Unqualified	Unqualified
Cash	548.4	572.2	941.7	374.4	258.7
Short Term Investments	1,078.1	815.1	-	1,460.1	1,382.4
Cash and Short Term Investments	1,626.5	1,387.2	941.7	1,834.5	1,641.1
Accounts Receivable - Trade, Gross	1,382.1	1,048.5	-	1,160.3	970.1
Provision for Doubtful Accounts	-108.5	-105.1	-	-111.7	-92.5
Trade Accounts Receivable - Net	1,550.6	1,086.1	1,233.5	1,401.7	1,059.5
Other Receivables	629.0	620.1	716.5	443.0	381.6
Total Receivables, Net	2,179.6	1,706.2	1,949.9	1,844.8	1,441.1
Inventories - Finished Goods	2,133.3	1,356.4	-	1,237.8	1,161.2
Inventories - Work In Progress	87.2	74.4	-	49.1	-
Inventories - Raw Materials	166.7	155.2	-	136.6	107.3
Inventories - Other	48.7	25.3	-	126.9	40.7
Total Inventory	2,436.0	1,611.3	1,600.8	1,550.3	1,309.1
Prepaid Expenses	207.3	165.3	-	78.3	57.3
Restricted Cash - Current	204.1	167.4	93.2	146.7	123.4
Other Current Assets	781.1	710.1	523.7	531.3	343.3
Other Current Assets, Total	985.3	877.6	616.9	678.1	466.6
Total Current Assets	7,434.7	5,747.6	5,109.3	5,986.0	4,915.3
Buildings	1,458.8	1,267.3	-	848.2	779.6
Land/Improvements	1,217.4	1,028.1	172.2	1,090.1	1,039.8
Machinery/Equipment	2,203.6	1,900.2	-	1,868.2	1,618.1
Construction in Progress	588.1	479.8	-	280.2	132.3
Leases	515.3	564.0	-	-	-
Natural Resources	804.7	746.7	661.0	687.1	648.5
Other Property/Plant/Equipment	729.9	616.6	-	88.1	-
Property/Plant/Equipment - Gross	7,517.6	6,602.8	833.1	4,861.9	4,218.2
Accumulated Depreciation	-2,090.7	-1,730.8	-	-1,354.3	-1,171.9
Property/Plant/Equipment - Net	5,427.0	4,871.9	3,988.7	3,507.6	3,092.5
Goodwill - Gross	-	-	-	3.8	-
Accumulated Goodwill Amortization	-	-	-	-2.3	-
Goodwill, Net	16.7	10.9	-	1.5	1.1
Intangibles - Gross	28.0	34.5	-	36.6	34.3
Accumulated Intangible Amortization	-16.2	-11.8	-	-13.3	-10.4
Intangibles, Net	357.6	378.7	353.0	775.9	759.5
LT Investment - Affiliate Companies	325.0	259.9	323.8	340.0	299.0
LT Investments - Other	41.6	47.9	62.6	97.0	112.7
Long Term Investments	366.6	307.8	386.3	437.0	411.8
Note Receivable - Long Term	124.3	97.2	64.6	77.0	28.8
Deferred Income Tax - Long Term Asset	209.4	189.6	163.9	217.9	183.8
Other Long Term Assets	260.3	3.2	16.6	6.3	227.5
Other Long Term Assets, Total	469.7	192.8	180.5	224.2	411.3
Total Assets	14,196.5	11,607.0	10,082.5	11,009.2	9,620.2
Accounts Payable	1,734.9	1,350.9	1,805.3	1,146.9	891.4
Accrued Expenses	1,123.5	849.4	-	975.2	726.8
Notes Payable/Short Term Debt	887.9	946.7	1,022.5	343.1	0.0
Current Portion - Long Term Debt/Capital Leases	123.8	73.3	-	158.7	694.9
Dividends Payable	-	-	-	0.0	28.6
Customer Advances	25.7	19.6	21.3	31.9	0.5
Income Taxes Payable	230.0	102.4	110.4	142.5	95.7
Other Payables	0.4	0.0	-	-	-
Other Current Liabilities	235.0	160.6	58.1	50.1	52.2
Other Current liabilities, Total	491.0	282.5	189.9	224.5	177.0
Total Current Liabilities	4,361.2	3,502.8	3,017.7	2,848.5	2,490.1
Long Term Debt	1,327.2	1,324.3	572.6	976.0	1,073.7
Total Long Term Debt	1,327.2	1,324.3	572.6	976.0	1,073.7
Total Debt	2,338.9	2,344.3	1,595.2	1,477.9	1,768.6
Deferred Income Tax - LT Liability	163.0	152.9	139.0	285.2	266.9
Deferred Income Tax	163.0	152.9	139.0	285.2	266.9
Minority Interest	260.7	210.3	176.7	164.1	637.2
Reserves	22.9	15.8	16.5	22.9	6.8
Pension Benefits - Underfunded	30.9	34.9	32.0	38.5	26.5
Other Long Term Liabilities	72.2	49.3	44.1	42.5	92.4
Other Liabilities, Total	125.9	100.1	92.6	103.9	125.8
Total Liabilities	6,238.1	5,290.3	3,998.6	4,377.7	4,593.6
Common Stock	995.1	928.1	854.8	919.6	798.0
Common Stock	995.1	928.1	854.8	919.6	798.0
Additional Paid-In Capital	2,266.3	2,111.8	28.6	2,110.8	1,568.3
Retained Earnings (Accumulated Deficit)	4,348.3	3,127.8	5,200.4	3,279.4	2,396.1
Unrealized Gain (Loss)	22.5	21.0	-	22.1	20.9
Translation Adjustment	326.2	128.0	-	299.6	243.2
Other Equity, Total	326.2	128.0	-	299.6	243.2
Total Equity	7,958.4	6,316.6	6,083.9	6,631.6	5,026.6
Total Liabilities & Shareholders’ Equity	14,196.5	11,607.0	10,082.5	11,009.2	9,620.2
Shares Outstanding - Common Stock Primary Issue	6,009.5	6,009.5	6,009.5	6,009.5	5,298.3
Total Common Shares Outstanding	6,009.5	6,009.5	6,009.5	6,009.5	5,298.3
Employees	100,000	100,000	100,000	100,000	30,050
Number of Common Shareholders	33,900	36,738	39,625	42,041	-
Accumulated Goodwill Amortization Suppl.	-	-	-	2.3	-
Accumulated Intangible Amort, Suppl.	13.8	11.0	-	12.5	10.4
Deferred Revenue - Current	25.7	19.6	21.3	31.9	0.5
Deferred Revenue - Long Term	57.5	49.3	44.1	42.5	40.6
Total Long Term Debt, Supplemental	2,335.3	2,328.7	1,595.2	1,477.9	1,768.6
Long Term Debt Maturing within 1 Year	1,008.0	1,004.4	1,022.5	501.9	694.9
Long Term Debt Maturing in Year 2	710.6	125.2	138.9	404.5	205.3
Long Term Debt Maturing in Year 3	85.8	284.6	141.0	114.5	207.7
Long Term Debt Maturing in Year 4	85.8	284.6	141.0	114.5	207.7
Long Term Debt Maturing in Year 5	85.8	284.6	141.0	114.5	207.7
Long Term Debt Maturing in 2-3 Years	796.5	409.8	279.9	519.0	413.0
Long Term Debt Maturing in 4-5 Years	171.7	569.2	282.0	229.0	415.4
Long Term Debt Matur. in Year 6 & Beyond	359.1	345.3	10.6	228.0	245.2
Total Operating Leases, Supplemental	184.8	143.7	-	125.6	135.0
Operating Lease Payments Due in Year 1	39.5	33.4	-	54.8	37.9
Operating Lease Payments Due in Year 2	18.7	14.6	-	8.9	11.1
Operating Lease Payments Due in Year 3	18.7	14.6	-	8.9	11.1
Operating Lease Payments Due in Year 4	18.7	14.6	-	8.9	11.1
Operating Lease Payments Due in Year 5	18.7	14.6	-	8.9	11.1
Operating Lease Pymts. Due in 2-3 Years	37.4	29.1	-	17.8	22.3
Operating Lease Pymts. Due in 4-5 Years	37.4	29.1	-	17.8	22.3
Oper. Lse. Pymts. Due in Year 6 & Beyond	70.5	52.0	-	35.4	52.5
Post-Retirement Obligation	24.3	21.8	-	20.6	19.6
Plan Assets - Post-Retirement	23.7	20.3	-	20.6	19.8
Funded Status - Post-Retirement	-0.6	-1.5	-	0.0	0.2
Total Funded Status	-0.6	-1.5	-	0.0	0.2
Discount Rate - Domestic	1.80%	2.00%	-	-	-
Expected Rate of Return - Domestic	7.00%	7.00%	-	-	-
Compensation Rate - Domestic	1.50%	1.50%	-	-	-
Total Plan Obligations	24.3	21.8	-	20.6	19.6
Total Plan Assets	23.7	20.3	-	20.6	19.8

Annual Cash Flows

Financials in: USD (mil)

Financial Glossary

	30-Jun-2011	30-Jun-2010	30-Jun-2009	30-Jun-2008	30-Jun-2007
Period Length	12 Months	12 Months	12 Months	12 Months	12 Months
UpdateType/Date	Updated Normal 30-Jun-2011	Reclassified Normal 30-Jun-2011	Reclassified Normal 30-Jun-2010	Updated Normal 30-Jun-2008	Restated Normal 30-Jun-2008
Filed Currency	MYR	MYR	MYR	MYR	MYR
Exchange Rate (Period Average)	3.084602	3.385057	3.515259	3.315347	3.556314
Auditor	PricewaterhouseCoopers LLP	PricewaterhouseCoopers LLP	PricewaterhouseCoopers LLP	PricewaterhouseCoopers LLP	PricewaterhouseCoopers LLP
Auditor Opinion	Unqualified	Unqualified	Unqualified	Unqualified	Unqualified
Net Income/Starting Line	1,247.0	565.2	665.9	1,131.9	754.5
Depreciation	328.4	267.1	213.4	219.4	190.5
Depreciation/Depletion	328.4	267.1	213.4	219.4	190.5
Amortization of Intangibles	17.1	14.9	19.4	21.7	19.9
Amortization	17.1	14.9	19.4	21.7	19.9
Discontinued Operations	-85.7	-201.0	-	-	-
Unusual Items	53.3	71.9	-5.3	21.7	-166.2
Equity in Net Earnings (Loss)	-38.4	50.0	-3.8	-33.2	-31.6
Other Non-Cash Items	582.4	464.4	257.7	450.0	294.4
Non-Cash Items	511.6	385.3	248.6	438.6	96.6
Accounts Receivable	-315.1	-180.4	23.8	-289.8	-285.6
Inventories	-657.5	-125.4	-303.1	-126.7	-152.5
Other Assets	-179.4	-168.5	-34.7	-206.2	10.2
Accounts Payable	502.9	411.2	-175.2	441.0	383.0
Other Operating Cash Flow	-355.1	-233.0	-374.1	-469.5	-197.3
Changes in Working Capital	-1,004.1	-296.1	-863.3	-651.2	-242.2
Cash from Operating Activities	1,099.9	936.3	284.0	1,160.4	819.2
Purchase of Fixed Assets	-560.9	-706.0	-521.5	-639.3	-418.1
Purchase/Acquisition of Intangibles	-7.0	-22.5	-18.4	-	-
Capital Expenditures	-567.8	-728.6	-539.9	-639.3	-418.1
Acquisition of Business	-16.0	-11.0	-41.8	-27.2	-10.3
Sale of Business	3.6	37.3	21.4	144.5	301.1
Sale of Fixed Assets	59.5	87.2	93.6	79.2	112.8
Sale/Maturity of Investment	2.4	0.1	1.4	45.4	15.2
Purchase of Investments	-13.3	-5.9	-36.2	-14.4	-29.6
Sale of Intangible Assets	0.3	4.4	-	-	-
Other Investing Cash Flow	37.2	-83.0	33.9	54.2	74.6
Other Investing Cash Flow Items, Total	73.7	28.9	72.4	281.7	463.8
Cash from Investing Activities	-494.1	-699.7	-467.5	-357.6	45.7
Other Financing Cash Flow	-115.8	-87.9	-23.2	-233.1	-89.3
Financing Cash Flow Items	-115.8	-87.9	-23.2	-233.1	-89.3
Cash Dividends Paid - Common	-235.7	-414.9	-673.1	-278.0	-388.1
Total Cash Dividends Paid	-235.7	-414.9	-673.1	-278.0	-388.1
Sale/Issuance of Common	0.0	8.2	15.7	14.7	190.8
Common Stock, Net	0.0	8.2	15.7	14.7	190.8
Issuance (Retirement) of Stock, Net	0.0	8.2	15.7	14.7	190.8
Long Term Debt Issued	31.0	916.1	31.0	-	-
Long Term Debt Reduction	-81.4	-487.9	-91.9	-	-
Long Term Debt, Net	-126.6	644.5	152.1	-277.7	-80.6
Issuance (Retirement) of Debt, Net	-126.6	644.5	152.1	-277.7	-80.6
Cash from Financing Activities	-478.1	150.0	-528.5	-774.2	-367.2
Foreign Exchange Effects	21.3	-39.2	-11.9	26.8	-13.7
Net Change in Cash	149.0	347.4	-723.8	55.5	484.0
Net Cash - Beginning Balance	1,439.6	964.4	1,652.6	1,696.7	1,097.7
Net Cash - Ending Balance	1,588.6	1,311.9	928.7	1,752.2	1,581.8
Cash Interest Paid	115.6	78.5	69.2	86.8	84.0
Cash Taxes Paid	374.4	270.7	399.3	478.4	203.4

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.52.72
UK Pound	1	Rs.82.70
Euro	1	Rs.68.90

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
71-85	Aa	Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums	Large
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended
--	NB	New Business	--

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

Financial condition (40%) Ownership background (20%) Payment record (10%)

Credit history (10%) Market trend (10%) Operational size (10%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.