PETALING JAYA: In line with Sime Darby Bhd’s recent asset disposal and share placement exercise, Malaysian Rating Corp Bhd (MARC) has issued a rating update on the group.
The rating house said the conglomerate has made steady progress in utilising proceeds from the exercise to pare down its borrowings, which had risen sharply following its acquisition of New Britain Palm Oil Ltd for RM6bil in March 2015.
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