SDP sees minimal future impact from Battersea development rental yield guarantee

Sime Darby Property group managing director Datuk Seri Azmir Merican.

KUALA LUMPUR: Sime Darby Property Bhd (SDP) expects minimal future impact from the accounting adjustments related to International Financial Reporting Standards 17 (IFRS 17), despite incurring a wider share of joint venture losses due to a rental guarantee on the Battersea Power Station office tower.

Its group managing director Datuk Azmir Merican said the significant losses in the first half of 2024 (1H2024) were primarily driven by the negative accounting impact of IFRS 17, related to a five-year rental guarantee.