Sime Darby Berhad announced today that it has successfully completed its acquisition of UMW Holdings Berhad (UMW), achieving 100% stake in UMW. As a result, UMW is now a wholly-owned subsidiary of Sime Darby Berhad.
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Sime Darby Berhad reported a net profit of RM2.3 billion for the Group’s second quarter ended 31 December 2023 (Q2 FY2024). The Group’s revenue for the quarter was 37.7 per cent higher at RM15.5 billion, compared with RM11.3 billion in Q2 FY2023.
The significant jump in net profit was largely attributed to the RM2.0 billion gain on the disposal of Ramsay Sime Darby Health Care (RSDH) in December 2023. Core net profit for the quarter, excluding the gain on disposal amounted to RM269 million, a 7.2 per cent improvement from the corresponding quarter last year.
Reports More than 100% Jump in Profit in Q1 FY2024 to RM589 million
Sime Darby Berhad reported a higher net profit of RM589 million for the Group’s first quarter ended 30 September 2023 (Q1 FY2024). This was primarily driven by its effective business strategy, which saw the Industrial division significantly rebound in the quarter under review compared to the corresponding quarter in FY2023.
The Group’s revenue for Q1 FY2024 was 14.8 per cent higher at RM13.98 billion, compared with RM12.18 billion in Q1 FY2023.
Sime Darby Berhad (“Sime Darby”) held an Extraordinary General Meeting (“EGM”) today, to seek its shareholders’ approval on the company’s proposal to acquire Permodalan Nasional Berhad’s ("PNB") 61.2% stake in UMW Holdings Berhad (“UMW”) and thereafter to launch a mandatory general offer (“MGO”) to acquire the remaining UMW shares not owned.
At the EGM, shareholders voted to approve the proposed resolution which allows Sime Darby to move forward with the strategic acquisition.
Lim Mun Qwan began her journey with Sime Darby as a recipient of a Yayasan Sime Darby Scholarship award in 2012. “I am very lucky as I have had the opportunity to experience different roles in Sime Darby," she shares. From being a marketer for Sime Darby Industrial Sdn. Bhd. to an auditor and risk specialist for the Group in China, her journey has been marked by diverse experiences that have widened her horizons, expanded her perspectives and helped her develop valuable skills and strengths.
In this short Q&A with our leadership team, get to know our Group Chief Financial Officer, Mustamir Mohamad and learn about his experience during one of the biggest M&As in the Group’s history.
Q: Can you tell us a little bit about your background and your experience in Sime Darby?
Group’s Q4 Net Profit Up 124% to RM622 million
Sime Darby Berhad reported a 32.2% jump in net profit for the financial year ended 30 June 2023 (FY2023) at RM1.46 billion compared with RM1.1 billion in the financial year ended 30 June 2022 (FY2022).
Net profit was higher mainly due to improved results from Industrial division’s Australasia operations, strong performance from the Motors business in Malaysia, and a gain on the disposal of properties in Hong Kong.
The Group reported revenue of RM48.3 billion in FY2023, a 13.6% increase from FY2022.
Deal Will Cement Group's Position as Malaysia's Leading Automotive Player
Sime Darby Berhad (“Sime Darby”) today announced that it has entered into a conditional share purchase agreement (“SPA”) with Permodalan Nasional Berhad (“PNB”) to acquire PNB’s 61.2% stake in UMW Holdings Berhad (“UMW”), a well-established conglomerate with a diverse portfolio of businesses including automotive, equipment, aerospace and manufacturing & engineering (M&E) segments.
Sime Darby Berhad reported a net profit of RM240 million for the Group’s third quarter ended 31 March 2023 (Q3 FY2023). The Group’s revenue for the quarter was 9.5 per cent higher at RM11.53 billion, compared with RM10.52 billion in Q3 FY2022.
Net profit for Q3 FY2023 was marginally lower by 1.6 per cent compared with the corresponding quarter last year, mainly due to the Group’s lower profit from its Motors business in China and higher finance costs during the quarter under review.
However, this was partly offset by higher profit from the Group’s Industrial business.