Malaysia's Sime reports plunge in Q2 net profit

Newswire

KUALA LUMPUR, Feb 28 (Reuters) - Malaysian conglomerate Sime Darby Bhd reported an 86 percent dive in second-quarter profit on Monday after booking provisions for a hydroelectric dam project, its auto operation in China and a whitegoods business. Sime Darby, one of Asia's oldest conglomerates, posted a net profit of 27.8 million ringgit ($7.32 million) in the three months ended Dec. 31, compared with a net profit of 194.3 million ringgit in the same quarter a year earlier. Sime Darby, ...

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