We'll Cooperate With South African Authorities, Says Sime Darby

KUALA LUMPUR, April 4 (Bernama) -- Sime Darby Bhd has confirmed that it is in the midst of gathering further information on the current investigations into the alleged contravention of South Africa's Competition Act. "We are treating the matter with the utmost urgency," it said in a statement Thursday in response to media reports and the statement by the Competition Commission of South Africa. It was reported that South Africa's competition watchdog raided the local units of global firms Unilever Plc and Sime Darby as part of a probe into suspected price fixing of edible oils and margarine. The commission said it had searched and seized documents and data from the offices of Unilever South Africa and Sime Darby Hudson & Knight Pty Ltd, a unit of Sime Darby which produces oils and fats. Sime Darby said that it adhered strictly to its business principles which include compliance with all applicable laws, rules and regulations in the countries in which it operates, as well as fair business practices. "As such, we are treating this development seriously and we will provide full co-operation to the authorities in this investigation," it added. Sime Darby is a key player in the Malaysian economy as well as a diversified multinational, with businesses in key growth sectors namely, plantations, industrial equipment, motors, property and energy & utilities with operations in more than 20 countries. --BERNAMA