Sime Darby Plantation offloads its Liberian oil palm business unit

LIBERIA – Sime Darby Plantation (SDP), a Malaysian oil palm planation company has completed the sale of its entire 100% equity interest in its palm oil concession in Liberia, Sime Darby Plantation Liberia Inc. (SDPL) to Mano Palm Oil Industries Limited (MPOI). MPOI is a subsidiary of Liberia’s largest manufacturer of household, health and cleaning products Mano Manufacturing Company (MANCO) who was a principal buyer of Sime Darby’s palm oil since 2015. The Bursa Malaysia filing follows an earlier press statement in December 2019 that a Sale & Purchase Agreement…

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Malaysian Sime Darby to close operations in Liberia in restructuring strategy

LIBERIA – Sime Darby Plantation, a Malaysian oil palm planation company has disclosed that it will be closing its operation in Western Liberia by the end of this year in a move that seeks to improve the company’s balance sheets. The company said that it will divest its assests in Liberia by end of the year under the group’s asset monetization strategy under which sale proceeds will be used to cut borrowings, reports FrontPageAfrica. The company has employed over 1,700 workers in the region contributing not less than US$1.2 million…

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