SDP Alexandra sold to Aster Investment for S$82.55m cash
PETALING JAYA: Sime Darby Property Singapore Ltd (SDPSL) has disposed of its entire equity interest in Sime Darby Property (Alexandra) Pte Ltd (SDP Alexandra) to Aster Investment Holding Pte Ltd for S$82.55 million (RM249.23 million) cash.
In a filing with Bursa Malaysia yesterday, Sime Darby Bhd said the disposal is subject to certain additional purchase price adjustments.
SDPSL is a wholly owned subsidiary of Sime Darby Property Bhd, which is in turn a wholly owned subsidiary of Sime Darby.
Following the disposal, SDP Alexandra has become an associate company and has ceased to be an indirect wholly owned subsidiary company of Sime Darby.
SDP Alexandra is principally engaged in property investment and management. The total issued and paid-up share capital of SDP Alexandra is S$10 million comprising 10 million ordinary shares.
The disposal will not have any material effect on the earnings or net assets of the Sime Darby group for the financial year ending June 30, 2017.