Profits triple at Malaysia's palm oil company Sime Darby

Kuala Lumpur

MALAYSIA'S Sime Darby Bhd, the world's largest oil palm planter by land size, on Thursday said its first-quarter net profit increased over 150 per cent versus a year ago, buoyed by increased production and by the sale of some assets.

The conglomerate, whose interests stretch beyond palm oil into areas such as property, announced a net profit of 1.32 billion ringgit (S$429 million) for the quarter that ended in September, up from its restated earnings of 522 million ringgit in the corresponding quarter a year ago.