KUALA LUMPUR: Sime Darby’s share price was sharply lower at the end of the day yesterday as the diversified conglomerate lost 33 sen to RM9.41 per share.
The Malaysian multinational was the second top loser in the morning session with 19.573 million shares traded.
Its share price hovered between RM9.73 per share and RM9.24 per share.
MIDF Research analyst Nur Nadia Kamil said the lower share price partly reflected weakening crude palm oil (CPO) prices.
Investors are adopting a ‘hold’ position while waiting for the CPO to rebound, but the prices continue to slide,” she told Bernama.
Yesterday, CPO futures contracts on Bursa Malaysia Derivatives closed lower on selling pressures, while on the physical market, October South dropped RM160 to RM2,200 a tonne.
Sime Darby is Malaysia’s leading multinational conglomerate involved in six core sectors, with the plantation sector being one of the largest revenue generators for the company. — Bernama