More power to Sime Darby group

Sime Darby Bhd is continuing its power assets accumulation drive, the latest being an additional 15% stake in Port Dickson Power Bhd (PD Power) that it proposes to acquire from Tenaga Nasional Bhd (TNB). 

Upon completion of the deal, Sime Darby's interest in PD Power will rise to 75%, from 60% now. While earnings enhancing, analysts say, the additional RM18mil-odd profit expected from the bigger stake is only “a drop in the ocean” for the conglomerate, which has a share base of some 2.3 billion.