Sime Darby Berhad has entered into a conditional sale and purchase agreement (SPA) with Permodalan Nasional Berhad (PNB). The former seeks to acquire 61.18% stake of the latter’s UMW Holdings Berhad.
The sale will cost RM5 per share, totalling RM3.57 billion. Should the sale go through, it’s set to see the formation of Malaysia largest automotive group to date. Simply put, this will mark a seismic shift for the local automotive industry given the sheer size of interest and brands involved across both entities.
“This is a strategic move to further scale up and strengthen our presence in the Malaysian automotive sector, adding two highly performing brands into our Malaysian portfolio,” said Datuk Jeffri Salim Davidson, Group CEO of Sime Darby, via a press statement.
To put into perspective, the Sime Darby Motors division currently has over 10 brands in its portfolio – Auto Bavaria (BMW, BMW Motorrad, MINI), Porsche (SDAP), Hyundai (SDAH), Ford (SDAC), Jaguar and Land Rover (JLR Malaysia), Volvo (SDSA), and more recently Chinese EV marque BYD (BYD SD Motors).
Besides retail efforts, the Sime Darby Motors portfolio includes Inokom Corporation Sdh Bnd – the licensed contractor assemblers for brands from within the Sime Darby Motors portfolio, as well as various other non-Sime Darby-owned names such as Mazda and Kia through Bermaz Auto, and more recently Chery.
Over at UMW Holdings Berhad, its portfolio consists of Toyota and its Lexus Luxury marque (both through UMW Toyota Motor – UMWT), followed by second national carmaker Perodua. Amongst this trio, both Toyota and Perodua arguably stand as high-volume brands in the local market, especially the latter.
"As a partner of choice to some of the most admired brands in the automotive sector, we are very excited to have the opportunity to work with Toyota, one of the world’s largest and most respected automakers,” added Datuk Jeffri further.
Sime Darby expects the acquisition of PNB’s stake to be completed within three months from the date of SPA mentioned, subject to regulatory and shareholders’ approvals, as well as customary closing conditions.
KUALA LUMPUR | VMH6159 |
SELANGOR | BRT5450 |
JOHOR | JWY6184 |
PULAU PINANG | PRE7652 |
PERAK | ANK4831 |
PAHANG | CEW6150 |
KEDAH | KFU1036 |
NEGERI SEMBILAN | NEB6934 |
KOTA KINABALU | SJD9146 |
KUCHING | QAB1796J |
Petrol | |||
---|---|---|---|
RON 95 | RM 2.05 |   | |
RON 97 | RM 3.47 |   | |
RON 100 | RM 4.50 |   | |
VPR | RM 5.50 |   |
Diesel | |||
---|---|---|---|
EURO 2M | RM 2.15 |   | |
EURO 5 | RM 2.35 |   |
KUALA LUMPUR | VMH6159 |
SELANGOR | BRT5450 |
JOHOR | JWY6184 |
PULAU PINANG | PRE7652 |
PERAK | ANK4831 |
PAHANG | CEW6150 |
KEDAH | KFU1036 |
NEGERI SEMBILAN | NEB6934 |
KOTA KINABALU | SJD9146 |
KUCHING | QAB1796J |
Petrol | |||
---|---|---|---|
RON 95 | RM 2.05 |   | |
RON 97 | RM 3.47 |   | |
RON 100 | RM 4.50 |   | |
VPR | RM 5.50 |   |
Diesel | |||
---|---|---|---|
EURO 2M | RM 2.15 |   | |
EURO 5 | RM 2.35 |   |