Sime Darby insurance buy

Sime Darby Hong Kong has moved to maximise earnings by purchasing the group's insurance operations for $31 million from Sime Darby Far East. It said the acquisition would allow a vertical integration of the insurance interest and enhance its core business - vehicle and construction equipment sales and servicing. The company said the deal would have no material impact on its consolidated assets for the year to June 30. The purchase will be self-funded.