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Putting an end to all such speculations, Malaysian Prime Minister, Datuk Seri Abdullah Ahmed Badawi launched Sime Darby Berhad, Malaysia's latest, diversified multinational, on November 28, 2007, exactly a year after the original merger proposal was mooted by CIMB Investment Bank, Berhad. This new entity, carved out from the merger of eight listed companies belonging to the above three groups, has become the largest listed company in Bursa Malaysia (Kuala Lumpur Stock Exchange) with market capitalization of over Malaysian Ringgit (RM) 50 bn (equivalent to $ 17 bn).
`Developing
Sustainable Futures', will be the theme for the new Sime
Darby, an indicator on how it will be focusing on its five
core businesses—Plantations, Real Estate and Property
Development, Motor Vehicles, Heavy Equipment, and Energy
and Utilities. Prime Minister, Seri Abdullah unveiled the
multinational's new look logo, redesigned with Sime Darby,
scripted in a more friendlier typography, with the background
of warm orange light falling on to a shield, at the Sime
Darby Convention Centre in Kuala Lumpur.
On
November 27, 2006, CIMB Investment Bank, Berhad announced
the proposed merger of Sime Darby group, Golden Hope Plantations
and Kumpulan Guthrie group. This landmark deal estimated
at a value of RM 31 bn (approx. $10 bn) will involve the
merger of eight listed companies. The companies involved
are Sime Darby Bhd., Sime Engineering Services Bhd., Sime
UEP Properties Bhd. (all of Sime Darby Group), Golden Hope
Plantations Bhd., Mentakab Rubber Company (Malaya) Bhd.
(of Golden Hope Group), Kumpulan Guthrie Bhd., Guthrie Ropel
Bhd., Highlands & Lowlands Bhd. (all of K. Guthrie Group).
Regarding the third subsidiary company of the G Hope Group,
Negara Properties Bhd., which was not listed on Bursa Securities
Malaysia, it was decided to make a Mandatory General Offer
(MGO) to all its shareholders. |
