Sime Darby has negotiated with Tesco Plc to secure a better value for the Malaysian operation where the latter owns the remaining 70% interest. This indicates that Sime Darby is in no hurry to sell the assets.
TESCO Stores (Malaysia) Sdn Bhd was never a core business for Sime Darby Bhd
. The disposal of its 30% stake to CP Group of Thailand for RM300mil may be small relative to Sime Darby’s market capitalisation of RM13.6bil.
Nevertheless, it is a sizeable deal amidst the Covid-19 pandemic that has cast a pall over financial markets.
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