Sime defers listing of motor arm to H2 this year

Sime Darby Bhd president and group chief executive Tan Sri Mohd Bakke Salleh at Sime Darbys second quarter ended June 30, 2015 results announcement at Sime Darby Convention Centre, Kuala Lumpur on Feb 26.FAIHAN GHANI/The Star.

KUALA LUMPUR: Sime Darby Bhd, which saw its net profit decline by 47% to RM437.4mil for the second quarter ended Dec 31, 2014, will defer the listing of its automotive arm to the second half of this year.

“Our intention is to achieve the best valuation. As such, when the external landscape is not conducive, it would not be advisable to put the company on a listing mode,” said president and group chief executive Tan Sri Mohd Bakke Salleh after announcing Sime Darby’s second-quarter financial results yesterday.