Sime Darby’s China dredging subsidiary deregistered

A partial view of Weifang Port

KUALA LUMPUR: Sime Darby Bhd, which owns and operates Weifang Port in Shandong Province, announced that its indirect subsidiary Weifang Binhai Haiwei Dredging Project Co Ltd (WBHDP) has ceased operations.

In a filing with Bursa Malaysia, the conglomerate said WBHDP, whose activities were dredging of embankment projects, excavation, dredging and maintenance of ports and channels, fencing and filling of foundation, leasing of vessels and related facilities, had applied for deregistration on Feb 29 and was deregistered on Dec 27.

The deregistration came after Weifang port operator Weifang Sime Darby Port Co Ltd, an indirect 99%-owned subsidiary of Sime Darby, received the notification of deregistration issued by the Administration for Industry and Commerce of the Weifang Binhai Economic and Technology Development Zone, China.

WBHDP, an indirect 50.75%-owned subsidiary set up in December 2009, was one of several companies owned by Sime Darby involved in providing port operations-related services.

Earlier this year, Sime Darby said Weifang Port operations would be ready for an initial public offering by 2020. 

Logistics (which comprises Sime Darby’s port and water management operations in China) is one of the group’s five segments, the rest being Plantation, Industrial, Motors and Property.