Tuesday, June 1, 2010

Sime Darby Dethroned

Last evening, KL Advanced Toastmasters had their third Monday meeting for May, and again, the meeting was full of exuberant energy. I was the Invocator as well as the Assignment Speaker, doing my second round of CC speeches, starting with the Ice-breaker – it was titled ‘The Malacca Boy”. DTM Rohijas was my evaluator and straightaway, he cautioned me that he was going to raise the bar for me – because I am already an advanced speaker, and rightly, his expectations will be higher. Thankfully I did meet his approval although as in all speeches that I have delivered or will be delivering, there will always be room for improvement. That’s why being a Toastmaster is a wondrous experience because we get to learn and learn continuously. I remember a Ben Jonson saying: “To speak and to speak well are two things”. Of course, I share this sentiment. I do not just want to speak but I want to speak well. And Toastmasters provide me with this platform to express, to articulate and to communicate.

For fans of Sime Darby, I forgot to mention that this conglomerate has been dethroned as the largest company on the FTSE Bursa Malaysia KL Composite Index (FBM KLCI) and now occupies third place – after having shed close to RM5.89 billion in market capitalization over the last one month. According to StarBizweek (Star, May 29, 2010, p SBW11), Sime Darby’s shares have shed some 98 sen over the last four weeks, and it now has a significantly lower market cap of RM47.05 billion compared with RM54.15 billion six months ago! The selldown in Sime Darby was of course perpetuated by the discovery of RM964 million in provisions, which caused investors to surrender confidence and to dump the blue chip stock.

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