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).
At 5pm, the KLCI was up 0.67 point or 0.04% to 1,723.78 thanks to Sime Darby but the 30-stock index trailed all the key Asian markets. Turnover was 1.63 billion shares valued at RM1.94bil. There were 364 gainers, 437 losers and 407 counters unchanged.
Crude palm oil for third month delivery rose RM4 to RM2,663 per tonne. BLD Plantations fell 17 sen to RM8.53, PPB Group 16 sen to RM16.34, TAHPS 15 sen to RM6.43, KL Kepong 12 sen to RM23.88, IOI Corp three sen to RM4.50 but Sime Darby rose nine sen to RM7.99 and pushed the KLCI up nearly one point.
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