UPDATE 2-Malaysia Sime Darby says no to undersea cable project

Newswire

(Adds comments from second finance minister) KUALA LUMPUR, June 25 (Reuters) - Malaysian palm oil company, Sime Darby , will not invest in an undersea cable project to carry electricity from Sarawak on Borneo to peninsular Malaysia, saying it did not fit with its business strategy. The Malaysian government offered Sime Darby, the world's largest listed palm oil company, the chance to take up a 60 percent stake in Sarawak Hidro Sdn Bhd, the owner of the dam project last November. The ...

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