Sime Darby divesting Weifang Port companies for RM1.27b

KUALA LUMPUR, July 4 — Sime Darby Bhd is exiting the non-core ports business by divesting the entire equity interest in its Weifang Port companies for 1.92 billion yuan .

In a statement today, Sime Darby said besides the disposal consideration, SDOHK will receive an indicative sum of 541 million yuan as repayment of shareholder loans. Sime Darby has in recent years been progressively divesting assets which have been identified as non-core, as part of the group’s efforts to streamline its portfolio and redeploy capital to support the growth of its core businesses of industrial and motors.

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