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Sime Darby shares fall 2 pct on futures losses

Tue Jun 10, 2008 9:12pm EDT

Stocks

   

KUALA LUMPUR, June 11 (Reuters) - Shares of Malaysia's Sime Darby (SIME.KL), the world's largest listed palm oil planter, fell in early trade on Wednesday after the firm said it has sacked two top officials over trading losses.

By 0106 GMT, the stock was down 2.2 percent at 8.90 Malaysian ringgit ($2.73) after opening at 9.0 ringgit.

Sime Darby, Malaysia's largest listed firm, said late on Tuesday it sacked two senior officers, including its group chief financial officer.

The move followed an inquiry into 120 million ringgit of futures trading losses at Golden Jomalina Food Industries, which was then a subsidiary of Golden Hope Plantations, Sime said. (Reporting by Jalil Hamid; Editing by Louise Heavens) ((aipeng.soo@thomsonreuters.com; +603 2333 8039; Reuters Messaging: aipeng.soo.reuters.com@reuters.net)) ($1=3.264 Malaysian Ringgit)


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