KUALA LUMPUR: The board of directors of Sime Darby Bhd (SDB) has approved the final terms of the groups restructuring proposals to create three standalone listed entities in the Plantation, Property and Trading & Logistics sectors on the Main Market of Bursa Malaysia Securities Bhd.
The proposals involve the restructuring of the Groups borrowings, transfer of assets within the group and the settlement of intercompany balances together with a proposed share split and share distribution.
1. Restructuring of Borrowings
SDB has novated its US$1.5bil Multi-Currency and RM3bil Perpetual Subordinated Sukuk programmes to Sime Darby Plantation Bhd with an outstanding principal amount of US$172mil (RM740mil) and RM2.2bil, respectively.
As for its I…
Read the full article at: http://www.thestar.com.my/business/business-news/2017/08/25/sime-darby-to-distribute-shares-in-plantation-and-property-divisions/