Malaysia's plantations-to-motoring conglomerate Sime Darby Bhd is selling its power assets in Thailand to B.Grimm Power Ltd for $162.9 million cash, according to stock exchange filing on Monday.

The assets to be sold to Thailand's energy-to-real estate group B.Grimm include two companies that produce and sell electricity and steam power, a power plant operator and receivables, according to the world's top oil palm planter by landbank size.

Shares of Sime Darby closed 0.1 percent at 9.53 ringgit per share on Monday, outperforming the broader index's 0.27 percent drop.