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Malaysia's Sime Darby says listings, asset monetisation being considered
[KUALA LUMPUR] Malaysia's Sime Darby Bhd said it had explored potential asset listings as well as asset monetisation exercises, and added that the execution of these activities would depend on market conditions and valuations.
In a statement on Monday, the Malaysian conglomerate said it had already begun selling some of its assets, while also boosting its balance sheet by implementing measures such as perpetual sukuk issuances and share placements. "The execution of these initiatives are being considered and we are taking into account market conditions and valuations, with the objective of delivering optimal value to the shareholders," it said.
Sime Darby's statement was in response to an article by local media The Edge, which said the company's shareholders were looking to break up the company. Sime Darby has diversified businesses in palm oil plantations, property assets and motor distribution, among others.