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PETALING JAYA: The price of Sime Darby Bhd fell by 5.35% this morning after announcing its exit from the water management sector, with the sale of 100% of the capital of Weifang Sime Darby Water Management Co. $ 68.01 million (RM 275 million).
At 11:01, Sime Darby is 2.30 RM with 4.23 million shares exchanged.
Sime Darby Overseas (HK) Ltd, an indirect wholly-owned subsidiary of Sime Darby incorporated in Hong Kong, had entered into an equity purchase agreement with Shandong Water Environmental Protection Co. on June 29 Ltd for the assignment.
Sime Darby said divestment was part of the group's strategy to rebalance its portfolio and focus on its core business.
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