KUALA LUMPUR: Sime Darby Plantation (SDP) Bhd’s move to reimburse recruitment fees to its current foreign workers is a step in the right direction and shows its commitment to address lapses in past recruitment practices, according to Maybank Investment Bank (Maybank IB).

       The investment bank, in a note yesterday, said the move would also institute necessary changes to prevent a recurrence.

       “Pending its upcoming results release this week, we are keeping our earnings per share forecasts,” it added.

       SDP will announce its fourth quarter financial performance tomorrow.

       On Tuesday, SDP announced that it has made several changes and improvements to its governance structures, policies and procedures to ensure that the group’s operations are free of the scourge of forced labour.

       The group is planning to reimburse 15,078 current foreign workers with an aggregate sum of RM38.6mil and it is also setting aside a sinking fund amounting to RM43.4mil to reimburse 19,565 former foreign workers.

       All reimbursements will be paid in a single lump sum payment to the workers. — Bernama