Sime Darby eye­balling po­ten­tial list­ings of as­sets

The Sun (Malaysia) - - SUN­BIZ -

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.

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