KUALA LUMPUR (Feb 29): Conglomerate SIME DARBY BHD [] is looking at listing some of its entities next year.
Group chief executive officer Datuk Mohd Bakke Salleh said the group is currently working on a few initiatives in sync with its plan for the listing of these entities.
“The game plan is to do it in phases and to look at listable entities in our portfolio. PLANTATION [] or even PROPERTIES [], auto and industrial would be ready for that but it’s a matter of timing,” he said at a media briefing when announcing Sime Darby's financial performance for its second quarter and first half ended Dec 31, 2011.
Mohd Bakke said the listing is also an exercise that has to consider the optimisation of value.
“Next year would be the preferred year for any kind of listing exercise. We have to be very cautious,” he said.
According to Mohd Bakke, the group would consider acquisitions, mergers or any form of corporate exercises within the scope of its existing core activities.
“It could be plantation. We have the opportunity to expand our landbank or even take over any company that is involved in this business. Definitely, we would not announce any new core business at least for the next five or four years,” he said.
On the price of crude palm oil (CPO), Mohd Bakke expects it to be around the current level of RM3,300 per tonne.
“Whenever there is a meeting of the experts on CPO to take place, the price will firm up one or two weeks before the event. We know that there is an event on March 6. My guess is that it will stay at this level. I think that’s more or less expected,” he said.
Mohd Bakke also said that Sime Darby’s plantation business in Liberia is progressing well. The group has planted up to 1,200 ha of the 4,000 ha that it has opened up.
“We hope to touch planted area of around 2,000 to 3,000 ha for this financial year. We will do it slowly taking into consideration all the challenges.
“It’s a new development and we are the only large-scale oil palm developer in Liberia. Non-governmental organisations (NGOs) are looking at our development. So, we need to be mindful of local sensitivity and ensure that our development is in full compliance with RSPO (Roundtable on Sustainable Palm Oil)," he said.
Mohd Bakke said Sime Darby would carry out its plantation development in Liberia in a very systematic but measured manner.
Sime Darby Plantation through its fully-owned subsidiary Sime Darby Plantation (Liberia) Inc has a concession area of 220,000 ha of land, spread across the Grand Capt Mount, Bomi, Bong and Gbarpolu counties in Liberia, to be developed into oil palm and rubber plantations. - Bernama
Group chief executive officer Datuk Mohd Bakke Salleh said the group is currently working on a few initiatives in sync with its plan for the listing of these entities.
“The game plan is to do it in phases and to look at listable entities in our portfolio. PLANTATION [] or even PROPERTIES [], auto and industrial would be ready for that but it’s a matter of timing,” he said at a media briefing when announcing Sime Darby's financial performance for its second quarter and first half ended Dec 31, 2011.
Mohd Bakke said the listing is also an exercise that has to consider the optimisation of value.
“Next year would be the preferred year for any kind of listing exercise. We have to be very cautious,” he said.
According to Mohd Bakke, the group would consider acquisitions, mergers or any form of corporate exercises within the scope of its existing core activities.
“It could be plantation. We have the opportunity to expand our landbank or even take over any company that is involved in this business. Definitely, we would not announce any new core business at least for the next five or four years,” he said.
On the price of crude palm oil (CPO), Mohd Bakke expects it to be around the current level of RM3,300 per tonne.
“Whenever there is a meeting of the experts on CPO to take place, the price will firm up one or two weeks before the event. We know that there is an event on March 6. My guess is that it will stay at this level. I think that’s more or less expected,” he said.
Mohd Bakke also said that Sime Darby’s plantation business in Liberia is progressing well. The group has planted up to 1,200 ha of the 4,000 ha that it has opened up.
“We hope to touch planted area of around 2,000 to 3,000 ha for this financial year. We will do it slowly taking into consideration all the challenges.
“It’s a new development and we are the only large-scale oil palm developer in Liberia. Non-governmental organisations (NGOs) are looking at our development. So, we need to be mindful of local sensitivity and ensure that our development is in full compliance with RSPO (Roundtable on Sustainable Palm Oil)," he said.
Mohd Bakke said Sime Darby would carry out its plantation development in Liberia in a very systematic but measured manner.
Sime Darby Plantation through its fully-owned subsidiary Sime Darby Plantation (Liberia) Inc has a concession area of 220,000 ha of land, spread across the Grand Capt Mount, Bomi, Bong and Gbarpolu counties in Liberia, to be developed into oil palm and rubber plantations. - Bernama
