Sime Darby Bhd’s net profit rose 14.2% to RM281 million for its first quarter ended Sept 30, 2020 compared to RM246 million reported in the first quarter of last year mainly due to the strong performance from its motors division, particularly in China.
Its motor division saw profits increased by 66.4% to RM223 million in the current quarter with most of its markets recording higher profit and supported by a government grant income of RM33 million. It’s group CEO Datuk Jeffri Salim Davidson attributed the solid first quarter results to China’s economic recovery.
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