Sime Darby divesting Weifang Port companies

Sime Darby's CEO Datuk Jeffri Salim Davidson said China remained one of Sime Darby’s most important markets, contributing almost 40% of revenue for the group.The industrial and motor businesses there span across 120 locations and 14 provinces.

PETALING JAYA: Sime Darby Bhd is exiting the non-core ports business by divesting the entire equity interest in its Weifang Port companies for 1.92 billion yuan (RM1.27bil).

Indirect wholly-owned subsidiary Sime Darby Overseas (HK) Ltd (SDOHK) has signed agreements to sell its stakes in the eight entities to SPG Bohaiwan Port Group Co Ltd, which is part of state-owned enterprise Shandong Port Group Co.