Following this internal restructuring, the group will distribute its 100% stakes in Sime Darby Plantation Sdn Bhd and Sime Darby Property Bhd to entitled shareholders, Sime Darby said in a filing with Bursa Malaysia today. It added that on completion of the distribution, the shareholders will directly hold shares in Sime Darby Plantation and Sime Darby Property in the same proportion as their shareholdings in Sime Darby. Sime Darby Plantation and Sime Darby Property would need to seek admission into the official list of Bursa Securities, and the quotation of their entire issued share capital. Accordingly, there will be three separate and independent listed entities with distinct businesses, with Sime Darby Plantation and Sime Darby Property to undertake the current plantation and property businesses of Sime Darby. Sime Darby president and group chief executive officer Tan Sri Mohd Bakke Salleh had said that each business will bear the Sime Darby name in order to carry on the heritage since the conglomerate’s listing in 1980.

Source: The Edge Markets February 27, 2017 08:15 UTC