KUALA LUMPUR: Sime Darby Bhd
has unveiled a refreshed brand identity to reflect its “progressiveness” and focus on its core businesses of motors and industrial equipment.
Group chief executive officer Datuk Jeffri Salim Davidson said the rebranding reflects not only the group’s progressiveness but also its readiness for future growth.
"We are a very progressive multinational in the Asia-Pacific region, and we need to change the brand to show that progressiveness. No company can afford to stay stagnant," Jeffri, who has been with the group for 32 years, told reporters at the brand launch.
Jeffri explained that the rebranding aligns with the group's recent completion of its first phase of restructuring, which involved divesting nearly all its non-core assets, such as hypermarkets, ports, and most recently, healthcare.
"The divestments are largely done. We've got some small ones left, but that is not going to move the dial. We have some land in Negeri Sembilan, but that's about it. In the scheme of things, these are very small," he said.
While divesting its non-core business, Sime also has been actively acquiring businesses to strengthen its core segments.
These include its acquisition of Australia’s Onsite Rental Group Ltd (Onsite) for RM1.92bil, Cavpower Group for RM1.49bil, and UMW Holdings Bhd for RM5.84bil.
Jeffri noted that the brand update comes at a pivotal moment as the group prepares to capitalise on emerging opportunities while staying true to its purpose of moving and developing the region.
"Change and growth have always been in our DNA," Jeffri said. The new tagline, 'Bridging Opportunities,' signifies the group’s focus on its core businesses of motors and industrial equipment while emphasising its purpose to “move and develop” the Asia-Pacific region.
Founded in 1910, Sime has evolved over the past century and now operates in 18 countries across the Asia-Pacific, employing over 30,000 people.
While the logo has been refreshed, the group's official name Sime Darby Bhd remains unchanged.
