Sime Darby's RM1 B tab, Malaysian Insider's blunder and Pakatan Rakyat's blooper. An early morning Malaysian Insider report that Sime Darby would suffer its biggest-ever loss (of RM 2.5 billion) has punched a RM1 billion hole in Sime's market capitalisation, as outraged Pakatan politicians blindly bayed for blood (read here).
The MI report would have a good April fool pun, but April's long gone. Sime Darby's infamous 'on the ball' board fiddled while shareholders were being burned throughout the day. Sime could have sought a suspension from the market regulator but, instead, it stood still and watched the carnage.