Sime in talks to sell Singapore properties

Cutting debt: Sime Darby logo is seen at the conglomerate’s headquarters in Kuala Lumpur. Sime Darby plans to dispose its properties in Singapore to pare down debt.

PETALING JAYA: Sime Darby Bhd is in talks with US-based private equity fund Blackstone Group to sell a majority interest in three Singapore properties for S$300mil (RM870mil).

According to a report by Singapore’s The Business Times, the deal is for the proposed properties of Sime Darby Centre at 896 Dunearn Road; Sime Darby Enterprise Centre, a light industrial building along Jalan Kilang off Jalan Bukit Merah; and Sime Darby Business Centre at 315 Alexandra Road (next to IKEA).