Weak ringgit makes Sime Darby's buy more pricey
But the conglomerate is upbeat that its acquisition of NBPOL would pay off in the longer term, as it would enable its expansion and a chance to move up the value chain upstream
Add BT as a preferred sourceDeeperDive is a beta AI feature. Refer to full articles for the facts.
Kuala Lumpur
A LIMP ringgit is expected to make Sime Darby's acquisition of New Britain Palm Oil Ltd (NBPOL) more costly, given that the Malaysian currency has depreciated by some 7 per cent against the British pound since last October, when the Malaysian conglomerate made its takeover offer.
Sime's cash takeover offer for the London Stock Exchange-listed Papua New Guinea (PNG) oil palm planter closed on Monday.
Copyright SPH Media. All rights reserved.
TRENDING NOW
Shelving S$5 billion office redevelopment plan proved ‘wise’ as geopolitical risks mount: OCBC chairman
OCBC is said to emerge as lead bidder for HSBC Indonesia assets
Middle East-linked energy supply shocks put Asean Power Grid back in focus
Eurokars Group introduces rental car franchises Enterprise Rent-A-Car, National Car Rental, and Alamo to Singapore
