Sime can reach half of monetisation plan with S’pore property sale

Mohd Bakke has said that the company was planning to raise RM1.8bil by selling or leasing back its assets in Singapore and Australia.

PETALING JAYA: If Sime Darby Bhd’s purported deal to sell majority interest in three of its Singapore properties to Blackstone Group goes through, the group would have achieved close to 50% of its RM1.8bil asset monetisation plan to pare down debt.

A report by Singapore’s The Business Times said that the conglomerate was planning a S$300mil (RM870mil) deal with the United States-based private equity fund for the three properties.