PNB may merge its big property firms

Sime Darby

PERMODALAN Nasional Bhd (PNB) is looking to merge three of its biggest property companies in a move to extract value from its portfolio of companies.

Sources say the fund is studying a move to amalgamate S P Setia Bhd, Island & Peninsular Sdn Bhd and the property businesses of Sime Darby Bhd to bring about efficiencies in its broader shareholding, and in the process create the largest property company in Malaysia.