Cavpower deal to enhance Sime earnings by 5%

HLIB Research said the acquisition of Cavpower would complement and strengthen Sime Darby’s existing industrial business segment in Australia.

PETALING JAYA: Sime Darby Bhd’s acquisition of Australia’s Caterpillar dealer could enhance the Malaysian conglomerate’s earnings by up to 5% for the financial year ending June 30, 2024 (FY24).

In addition, the investment is expected to strengthen Sime Darby’s presence in the mining and infrastructure sectors in Australia.