Sime Darby: Liberia fire and doubt on Olam

CIMB report on Sime Darby Bhd, "Fire destroys 200ha of estates," 20 March 2014: "We estimate that a fire, which has destroyed around 200ha of oil palm estates owned by Sime Darby in Liberia, may cost the group around RM3.6m in financial losses. This is negative although the earnings impact is insignificant. It could also possibly set back the progress of new planting in the near term. Sime Darby has invested RM300m-400m in its Liberian venture and planted 10,035ha of oil palm estates in the country..... The workers at the Bomi plantation said that the blaze was started by suspected arsonists and raged for two weeks before being brought under control... It is trying to work with the government to conduct an investigation....the cost of developing new oil palm estates in Liberia (RM18k per ha)... "

In the same report, CIMB notes, "We do not think the speculation that Sime Darby is keen on Olam is true and the group has also denied this."

Other news on Liberia (updated 26 March 2014):
Fire Destroys 200 Hectares at Sime Darby, Liberian Daily Observer,
A fire has destroyed about 200 hectares of an oil palm plantation owned by Malaysian firm Sime Darby in the northwest of Liberia, Reuters reported, ... (includes comments form Liberia newspaper readers)