Malaysia’s Top State Fund Engages With Sime to End Labor Issues
Sime Darby Bhd.'s palm oil plantation in Pulau Carey, Selangor, Malaysia.
Photographer: Sanjit Das/Bloomberg
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Malaysia’s top fund manager Permodalan Nasional Bhd. has been engaging with Sime Darby Plantation Bhd. on the steps taken by the world’s largest oil palm planter to solve its ongoing labor issues.
Sime is among Malaysia’s palm and rubber-glove producers that have come under scrutiny over allegations of migrant worker abuse. Yet, the surge in palm oil prices has helped the company’s shares rally 40% this year, valuing PNB’s 56.4% holding at more than $4.7 billion.