SP Setia top brass moots plan for its takeover by Sime Darby

KUALA LUMPUR: A high level initiative has started for a proposal for the property arm of Sime Darby Bhd to take over SP Setia Bhd.

The proposal was mooted by a few senior management of SP Setia about two months ago and conveyed to the top brass of Permodalan Nasional Bhd (PNB) and Sime Darby Bhd. PNB is the major shareholder of SP Setia as well as Sime Darby.