Disposals raise Sime Darby’s cash position

Sime Darby's chief executive officer Datuk Jeffri Salim Davidson estimated that the sale of its land in Labu, which was earmarked for the Malaysia Vision Valley project, is estimated to have a value of RM2.5bil.

PETALING JAYA: Sime Darby Bhd has earmarked its massive 8,800 acres of plantation land in Labu, Negri Sembilan, and its port asset in China Weifang in Shandong, China, for sale as part of the group’s non-core asset monetisation exercise.

Its chief executive officer Datuk Jeffri Salim Davidson estimated that the sale of its land in Labu, which was earmarked for the Malaysia Vision Valley project, is estimated to have a value of RM2.5bil.