KUALA LUMPUR: SIME DARBY BHD [] shares continued to decline on Tuesday, June 1 and fell 0.9% or seven sen to RM7.68 at 9.40am with 157,800 shares done.
Sime Darby lost RM6.37 billion in market capitalisation last month, falling from about RM52.94 billion on May 3 to RM46.57 billion on Monday. The stock fell eight sen to RM7.75 on Monday.
Last week it reported a net loss of RM308.63 million in its third quarter ended March 31 compared with the net profit of RM150.57 million a year due to the provisions made in its energy and utilities division.
The conglomerate's president and group chief executive Datuk Seri Ahmad Zubir Murshid was asked to take a leave of absence on May 13 ahead of his contract expiring on Nov 26, following revelations of huge losses in its energy and utilities division and a negative impact of RM964 million in the second half of its financial year ending June 30, 2010 from losses in the division.
Sime Darby lost RM6.37 billion in market capitalisation last month, falling from about RM52.94 billion on May 3 to RM46.57 billion on Monday. The stock fell eight sen to RM7.75 on Monday.
Last week it reported a net loss of RM308.63 million in its third quarter ended March 31 compared with the net profit of RM150.57 million a year due to the provisions made in its energy and utilities division.
The conglomerate's president and group chief executive Datuk Seri Ahmad Zubir Murshid was asked to take a leave of absence on May 13 ahead of his contract expiring on Nov 26, following revelations of huge losses in its energy and utilities division and a negative impact of RM964 million in the second half of its financial year ending June 30, 2010 from losses in the division.
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