30/08/2012 (The Star) -  Sime Darby Bhd is working towards expanding its landbank of oil palm trees to more than one million hectares, by expanding in Africa and Indonesia.

"We have about 522,000 hectare of planted palm oil land, and we like to see this doubling by 2015 to 2016," said president and group chief executive Datuk Mohd Bakke Salleh at the company's results briefing on Wednesday.

He also said Sime Darby was also working towards a number of initiatives to park its businesses under a few listed companies in the future.

"However, this is off the table in this financial year and the next few years," he said.

Wire reports also said Sime Darby planned to spend RM7.75bil for expansion in FY13 ending June 30, 2012 versus RM6.3bil in the just-ended fiscal year.