PETALING JAYA: Sime Darby Property Bhd
(SDP) has ruled out plans for a real estate investment trust (REIT) listing for now.
Its group managing director and chief executive officer, Datuk Seri Azmir Merican, said it will prioritise building up its recurring income portfolio before anything else.
"It is too premature to talk about a REIT listing, and we want to have assets that are ripe and ready for us. We are in the middle of executing our plans to build up recurring income, and we have to do a lot more here before we talk about what do we do or any possible monetisation of these assets," Azmir said at a press conference on Friday.
To do this, SDP will consider both organic and inorganic expansion methods, Azmir said.
He said the group’s gearing is currently manageable at around 31%.
