KUALA LUMPUR (Nov 21): Sime Darby Property Bhd (KL:SIMEPROP) on Thursday said that the company is seeking more assets that would generate recurring income for the real estate developer.
“We like quality assets, especially spaces that we are very familiar with,” its group managing director Datuk Seri Azmir Merican said in a virtual media briefing on Thursday following the group’s third-quarter results announcement. “We are working on it,” he said and declined to elaborate further.
Azmir said the company is also in talks with SD Guthrie Bhd (KL:SDG) as it looks for opportunities to collaborate in developing the land in Carey Island, Selangor owned by its sister company formerly known as Sime Darby Plantation Bhd.
“We are in talks with them,” he continued, “but I think it's a bit too early for me to speculate.”
The Selangor state government is developing a multi-billion mega port in Carey Island, of which SD Guthrie owns 85% or about 11,615ha.
The port development could significantly boost SD Guthrie's land value to RM7.1 billion even as it would only take up a small portion of the Carey Island land, according to estimates by Maybank Investment Bank.
Shares of Sime Darby Property were up three sen or 2.11% to RM1.45 at midday trading break on Thursday, valuing the group at RM9.86 billion.