Sime Darby Property
 | |
| Company type | Private limited company |
|---|---|
| Industry | |
| Founded | 2007 |
| Headquarters | , Malaysia |
Key people |
|
| Revenue |  RM3,074 million (2016)[1] |
 RM1,065 million (2016)[1] | |
| Total assets | RM12,228 million (2016)[1] |
| Parent | Sime Darby Berhad |
| Website | www |
Sime Darby Property Berhad is the property division of Malaysian conglomerate Sime Darby. It is one of the largest property developers in the country by revenue and gross development value (GDV) of current projects.[2][3]
The division was formed through the integration of the property arms of Golden Hope, Guthrie and Sime Darby during the 2007 Synergy Drive merger.[4] The property arm of Sime Darby traces back to United Estates Projects Berhad, a property development company established in 1964.[5] In 1985, Sime Darby purchased a large stake in United Estates and the company was renamed Sime UEP Properties Berhad.[6] Sime UEP was used to develop former oil palm plantation lands belonging to Sime Darby.[7]
Sime UEP was the developer of Subang Jaya (which commenced in 1974), which has become one of the most populated townships in the Klang Valley.[8] This was followed by the developments of USJ and Putra Heights in the surrounding areas by Sime UEP.[9] Bukit Jelutong was developed by Guthrie beginning in 1994 on its former plantation lands.[10] The 299-hectare Ara Damansara development by Sime UEP was launched in 2000.[11]
Aside from its developments in the Klang Valley, Sime Darby Property has residential projects in Negeri Sembilan, Johor and Singapore.[12] It also owns the Kuala Lumpur Golf & Country Club which has hosted the Malaysian Open, CIMB Classic and Sime Darby LPGA Malaysia tournaments.[13] Sime Darby Property is also a 40-percent joint venturer in the Battersea Power Station redevelopment project.[3]
As of September 2014, the company has a land bank of 19,000 acres (7,689 hectares), not including plantation land owned by Sime Darby Plantations which could be converted for development in the future.[3]
Analysts have speculated on the possibility of an initial public offering of the company or a merger with SP Setia by their common ultimate shareholder, Permodalan Nasional Berhad (PNB).[2][3] In 2014, CEO Abd Wahab Maskan said a listing was under consideration, but would require a "suitable time and situation."[3]
References
- ^ a b c Annual Report 2016 (PDF), Sime Darby Berhad, 2016-06-30, retrieved 2016-12-27
- ^ a b Sidhu, Jagdev Singh (2014-04-26). "PNB may merge its big property firms". The Star. Retrieved 2015-09-01.
- ^ a b c d e "Sime Property's GDV could exceed RM100 billion". The Malaysian Insider. 2014-09-17. Retrieved 2015-09-01.
- ^ "Synergy Drive Set to Become Bursa Malaysia's Largest Listed Company" (press release). Synergy Drive Berhad. 2007-10-27. Retrieved 2015-09-01.
- ^ "Company Overview of Sime UEP Properties Bhd". Bloomberg Business. Retrieved 2015-09-01.
- ^ King, Ross (2008), Kuala Lumpur and Putrajaya: Negotiating Urban Space in Malaysia, Singapore: NUS Press, p. 117, ISBN 978-87-7694-046-1
- ^ "Sime Darby Berhad - Company Profile, Information, Business Description, History, Background Information on Sime Darby Berhad". Reference for Business. Retrieved 2015-09-01.
- ^ "A model housing estate". New Straits Times. 1989-03-08. Retrieved 2015-09-01.
- ^ "Sime Darby plan 31 new property launches". New Straits Times. 2007-03-13.
- ^ Annual Report 2005 (PDF), Kumpulan Guthrie Berhad, 2005-12-31, retrieved 2015-09-01
- ^ Annual Report 2000, Sime Darby Berhad, 2000-06-30, retrieved 2015-09-01
- ^ "Residential". Sime Darby Property Berhad. Retrieved 2015-09-01.
- ^ "KLGCC Wins Pargolf Awards For The Second Year Running" (press release). Sime Darby Property Berhad. 2012-03-29. Retrieved 2015-09-01.