Sime Darby, Sp Setia deny wrongdoings
Published on: Thursday, June 14, 2018
Kuala Lumpur: Sime Darby Property Bhd (Sime Darby) has clarified that the site acquisition and the subsequent costs of the Battersea Power Station (BPS) development were fully funded by a combination of equity from the shareholders, together with development loans.In a joint statement with SP Setia Bhd on Wednesday, Sime Darby said that the loans were provided on commercial terms by a group of nine Malaysian and international lenders."More than 60 per cent was provided by the international lenders," Sime Darby said, simultaneously refuting any allegations of wrongdoing regarding the London-based project.
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The property developer also claimed that the 458 million British pounds (£1=RM5.34) development loan for phase one has been fully repaid ahead of schedule."The initial capital invested into the project by the developers and the profit from the first phase is now being reinvested into developing the subsequent phases," it said.Stay up-to-date by following Daily Express’s Telegram channel.
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