Synergy Drive Set to Become Bursa Malaysia's Largest Listed Company
Press Release
KUALA LUMPUR, 29 October 2007 – With an estimated market capitalisation of over RM50 billion, Synergy Drive Bhd is set to become the largest company on Bursa Malaysia when it is listed. The listing date is targeted for November 30.
The company will be a diversified Malaysian multinational with core businesses in the plantations, property, heavy equipment, motor and the energy and utilities sectors. After completion, Synergy Drive will have the financial resources to compete for prized assets around the region and embark on aggressive organic growth.
A significant portion of the multinational’s revenue is expected to be generated from its overseas operations in the Asia Pacific region, especially Australia and China (including Hong Kong and Macau), based on its proforma historical results.
For its listing exercise, Synergy Drive will assume the listing status of Sime Darby and will be issuing up to 6,024.4 million ordinary shares of RM0.50 each to entitled shareholders of Golden Hope Plantations Berhad, Guthrie Ropel Berhad, Highlands & Lowlands Berhad, Kumpulan Guthrie Berhad, Mentakab Rubber Company (Malaya) Berhad, Sime Darby Berhad, Sime Engineering Services Berhad and Sime UEP Properties Berhad (collectively, the participating companies) at the entitled shareholders’ election. The election period which began on October 27 will close on November 16. The prospectus and enclosed election notice were despatched to more than 70,000 shareholders of the participating companies on October 27.
The election notice contains a form which shareholders may elect for Synergy Drive shares. If the election form is not received by the share registrar by November 16, the entitled shareholders will receive cash. The tentative last date for the company to despatch the cheques and notices of the share allotment is November 29.
Before its listing, Synergy Drive will change its name upon receiving all requisite approvals. The new name, together with a new stock name will be announced at a later date.
For information on the share or cash payment options, entitled shareholders can contact Epsilon Registration Services Sdn Bhd at 603-4047 3999 or e-mail syn.enq@tricor.com.my