Sime Darby eyeballing potential listings of assets
PETALING JAYA: Sime Darby Bhd is exploring the potential listings of its assets as well as asset monetisation exercises.
In response to a business weekly report on the potential demerger of its businesses, the conglomerate said it has been exploring various options to improve shareholders’ value, including the demerger exercise.
The plans come after Tan Sri Abdul Wahid Omar joined Permodalan Nasional Bhd (PNB) as the chairman in last August. PNB owns nearly 55% interest in Sime Darby.
However, it noted that the execution of these initiatives are being considered and the group has to take into account market conditions and valuations, with the objective of delivering optimal value to the shareholders. “Over the last several years, the group has streamlined its operations, divesting nonstrategic and non-core businesses, while acquiring new businesses to strategically position the group for future growth and to secure longer term resilience,” Sime Darby noted. The group has five different business segments, namely plantation, industrial, property, motor and logistics. It said the group has begun unlocking value through asset monetisation exercises and ensured that its balance sheet remains strong with several successful deleveraging measures that have been implemented such as issuance of the perpetual sukuk and share placement.