Malaysia's Sime posts 18 pct rise in Q1 profit


KUALA LUMPUR, Nov 28 (Reuters) - Malaysian conglomerate Sime Darby said on Friday first quarter net profit rose 18 percent as strong palm oil prices and property sales outweighed dips in its auto and heavy equipment divisions. The sale of a 22-percent stake in oleochemical-maker Palmco Holdings Bhd also helped it raise a one-time net gain of 70 million ringgit ($18.4 million). One of Asia's oldest conglomerates, Sime has diversified businesses spanning plantations, property, tyre ...

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