UNCTAD: SIME DARBY TOP AGRICULTURE TNC IN THE WORLD

By P. Vijian

NEW DELHI, Sept 17 (Bernama) -- Sime Darby Berhad has been listed as the largest agriculture-based transnational corporation (TNC) in the world, while another four Malaysian companies also made it the top 25 in the United Nations Conference on Trade and Development (UNCTAD) list.

The Malaysians ranking were listed in UNCTAD's 2009 World Investment Report
titled "Transnational Corporations, Agriculture Production and Development"
which was released in Delhi Thursday.

Apart from Sime Darby, Kulim (Malaysia) Berhad was ranked ninth, PPB Group
Berhad 15th, TSH Resources Berhad 17th and Multi Vest Resources Berhad 18th in
the list of leading agriculture TNCs around the globe.

The companies were ranked by their foreign assets and number of employees,
and were based on 2007 figures.

Sime Darby had about US$4.7 billion in foreign assets while total assets
were US$10.9 billion and total employment at 100,000.

The Malaysian company even overtook Dole Food Company Inc and Fresh De Monte
Produce of the United States, which appeared second and third respectively in
UNCTAD's ranking.

"It is fascinating trend, big key players in the agriculture sector are
usually from the developed countries but now players from developing economies,
like Malaysian companies are doing big in the sector," said World Bank
consultant Premila Nazareth.

Premila and UNCTAD's senior economist Rashmi Banga jointly launched the
report.
-- BERNAMA