Sime Darby will transfer all its assets, liabilities and business undertakings to its wholly-owned subsidiaries and operate purely as an investment holding company.
KUALA LUMPUR: Sime Darby Property Bhd
has proposed an internal reorganisation to streamline its structure into separate identifiable business streams to better reflect the group’s diverse operations.
As per the proposal, Sime Darby will transfer all its assets, liabilities and business undertakings to its wholly-owned subsidiaries and operate purely as an investment holding company.
At present, Sime Darby Property is principally involved in property development, management services and acting as the listed investment holding company of the group.
“The board believes that the streamlining exercises will enable Sime Darby Property to establish a leaner corporate structure with separate identifiable business streams.
“This will provide more flexibility for business operations and efficiency, facilitating effective management of the different businesses moving forward,” it said in a filing with Bursa Malaysia.
