Sime Plantation shares dip 23 sen
Sime Darby Plantation Bhd (Sime Plantation) was the top loser among indexlinked heavyweights yesterday after its shares fell 23 sen to RM4.68, with 3.8 million shares changing hands.
It continued to be under pressure after it started the judicial review against the Melaka government, the state Land and Mines Department, Jasin District Land Office and GIA Resources Sdn Bhd for wrongfully initiating compulsory acquisition of a 75ha plot in Merlimau, Melaka.
It was reported recently that the relevant land authority had issued Form H (notice of award and offer of compensation) to Sime Plantation, offering RM37.40 million in compensation on top of RM35.28 million for the land, three days after the suit was filed on April 29.
Sime Plantation accused the land administrator for issuing the Form H to expedite the forced acquisition of the land for the benefit of Taiwan-controlled GIA Resources.
It also urged the court to issue an interim injunction to stop the Melaka government, the state Land and Mines Department, and GIA Resources (respondents) from taking any further action to facilitate the compulsory acquisition of the land.