Sime Darby H1 results below forecast

In a filing with Bursa Malaysia yesterday, Sime Darby said SDE had on Feb 5 received a notice from the Dubai International Arbitration Centre (DIAC) that EMAS had submitted a request for arbitration against SDE which was filed on Jan 24, 2016. The amount that EMAS is seeking from the arbitration proceedings is AED41.04mil (about RM46.37mil).

The plantation division expects FY16 fresh fruit bunches (FFB) production at nine million tonnes for Malaysia (-4.5% on-year) and Indonesia (-6% on-year) and at 1.7mil tonnes for New Britain Palm Oil Ltd (NBPOL).