Sime’s sukuk plan gets okay, crucial step to carve 3 listed companies

Malaysian Sime Darby, Japan's Mitsubishi Corporation, Tokyu Land and Hong Kong Land have also signed deals in Jakarta and surrounding areas.

PETALING JAYA: Sime Darby Bhd has received approval from its bondholders to restructure US$800mil (RM3.46bil) worth of sukuk, which is a crucial step in its plan to carve out three independent listed companies.

Holders of the sukuk, of which US$400mil will mature in 2018 with an equal amount maturing in 2023, approved the company’s plan to buy back the papers or replace the obligor or borrower to Sime Darby Plantation Sdn Bhd from Sime Darby currently.