PNB engages with Sime Plantation to end labour issues

KUALA LUMPUR: Top fund manager Permodalan Nasional Bhd (PNB) has been engaging with Sime Darby Plantation Bhd on the steps taken by the world’s largest oil palm planter to solve its ongoing labour issues.

Sime Plantation is among the country’s palm and rubber-glove producers that have come under scrutiny over allegations of migrant worker abuse. Yet, the surge in palm oil prices has helped the company’s shares rally 40% this year, valuing PNB’s 56.4% holding at more than RM20.43bil.