Sime Darby is taking legal action against those believed to be culpable for severe losses in its energy and utilities division, and expects to commence the civil suit before the end of the year.According to chairperson Musa Hitam, the individuals were identified with alleged prima facie culpability by advisors, based on the forensic audit report submitted on Sept 14.

The report was considered by the board of directors on Sept 20 and has since been submitted to the Malaysian Anti-Corruption Commission (MACC) and the Securities Commission, both of which have commenced investigations.

Full story here: http://www.malaysiakini.com/news/148343