In SML, expressions can also be separated by semicolons in the body of a let expression, like this:
fun T1() =
let in
x=x+1;
y=y+2;
k=k-1
end
Some people prefer this to parentheses because it looks more block-structured. It also gives you a place to insert declarations (in the let .. in part), which is a common way for a function to evolve.
Of course, since this is a functional language, you either need to be using reference cells (x := !x + 1) or declaring new variables (val x = x + 1) to do what you have in the body of your function. There aren't really "statements" like in C and all variables are immutable.