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Sime Darby Property exits hotel business
Published on: Friday, June 24, 2016
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Kuala Lumpur: Sime Darby Bhd's wholly-owned unit, Sime Darby Property Bhd, has disposed of its entire stake in Syarikat Malacca Straits Inn Sdn Bhd (SMSI), which owns and operates Hotel Equatorial in Melaka for RM55.36 million. In a filing to Bursa Malaysia Thursday, Sime Darby said following the disposal to Permodalan Nasional Bhd, SMSI has ceased to be an indirect subsidiary of the group.

"The disposal will not have a material effect on the earnings or net assets of the Sime Darby Group for the financial year ending June 30, 2016," it said. – Bernama




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