PETALING JAYA: Sime Darby Berhad announced today that it has successfully completed its acquisition of UMW Holdings Berhad , achieving 100% stake in UMW. As a result, UMW is now a wholly-owned subsidiary of Sime Darby Berhad.
Group CEO Datuk Jeffri Salim Davidson , said, “This milestone is a clear indication of the market’s trust in our strategic direction and the value we are poised to create with UMW Holdings in our fold. Our foremost priority now is to complete the integration of UMW into the wider Sime Darby ecosystem.
“This is also in line with our 5-Year Strategy Masterplan to grow our core businesses of Industrial and Motors across key regional markets and strengthen our earnings contribution from Malaysia,” he added. With this significant development, Sime Darby Berhad reaffirms its commitment to driving innovation and growth, while contributing to Malaysia’s economic development.
UMW managing director Mustamir Mohamad said, “Joining the Sime Darby Berhad family as a key business unit marks an exciting new chapter for UMW, allowing us to harness new opportunities and share expertise. While ensuring seamless business continuity during the integration, we look forward to growing further as part of Sime Darby, as we remain steadfast in our commitment to delivering excellence to all our stakeholders.