June 22, 2017 6:28 PM ET

Real Estate Management and Development

Company Overview of Sime Darby Property Berhad

Company Overview

Sime Darby Property Berhad builds sustainable communities globally. It engages in property development, property investment, asset management, hospitality, and leisure. The company was founded in 2007 and is based in Petaling Jaya, Malaysia. Sime Darby Property Berhad operates as a subsidiary of Sime Darby Berhad.

Block G

10th Floor

No.2, Jalan PJU 1A/7A

Ara Damansara, PJU 1A

Petaling Jaya,  47301

Malaysia

Founded in 2007

Phone:

60 8 0088 1118

Key Executives for Sime Darby Property Berhad

Managing Director and Director
Age: 57
Chief Financial Officer
Chief Operating Officer
Chief Transformation Officer
Senior Vice President of Property Malaysia
Compensation as of Fiscal Year 2016.

Sime Darby Property Berhad Key Developments

Sime Darby Property Berhad Reports Unaudited Earnings Results for the Second Quarter Ended December 31, 2016

Sime Darby Property Berhad reported unaudited earnings results for the second quarter ended December 31, 2016. For the quarter, it reported profit of MYR 309 million against MYR 187 million a year ago due to the gain on the disposal of the entire equity interest in Sime Darby Property (Alexandra) Pte Ltd. of MYR 131 million and the gain on partial disposals.

Sime Darby Property Bhd Develops New Housing Project, Harmoni 1, Located in the City of Elmina, Shah Alam

Sime Darby Property Bhd is developing a new affordable housing project, Harmoni 1, located in the City of Elmina, Shah Alam with a gross development value of MYR 155 million. The company would complete two prototypes of the D3 concept house by the middle of the year before pursuing the actual project in the third quarter. The D3 concept would reduce the completion period for construction in about 24 months as compared to 36 months to 42 months using the conventional concept.

Sime Darby To Sell Assets

Sime Darby Property Berhad is seeking to dispose its assets as part of a strategic exercise to streamline its businesses. Datuk Jauhari Hamidi, Managing Director of Sime Darby, said, "Sime Darby Property will continue to practice its policy of monetization exercises by unlocking the value of its current assets." Jauhari was asked whether Sime Darby’s property arm plans to dispose of these non-core assets. He explained that the property group has not set a target for its asset lookout policy for Malaysia and did not disclose any potential deals.“Our current land bank is too large for us to manage by ourselves and we need to bring in other companies through these exercises,” he added.

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