PNB sees whether Sime can raise RM6bil without rights issue

StarBiz reported last month that Sime was mulling over a rights issue that may raise up to RM6bil as the company was seeking to lower its debts by at least a third. President and chief executive officer Tan Sri Mohd Bakke Salleh(inset) said last month while announcing the company

PETALING JAYA: Permodalan Nasional Bhd (PNB), the parent of Sime Darby Bhd, is scrutinising the latter’s fund-raising plans with the view of exploring options other than a rights issue, according to sources close to PNB.

It is learnt that the fund prefers an exercise that would ensure that Sime’s management “sweats” its assets better and brings higher returns than currently.