Sime Darby To Dispose More Land Assets For RM445 Million

Sime Darby Berhad announced that Kumpulan Sime Darby Berhad, an indirect wholly-owned subsidiary had entered into a sale and purchase agreement with NS Corporation for the disposal of approximately 1,281.8 acres of land located in the Malaysia Vision Valley area in Labu, Negeri Sembilan.

The group is disposing the land for a cash consideration of RM445 million, this comes from its October announcement of its disposal of 760 acres to Sime Darby Property Berhad and the sale of 1,382.2 acres to NS Corp as announced in August
2022.

These are part of Sime Darby’s on-going strategy of monetising the lands in MVV, being one of the non-core assets identified for divestment. As part of the demerger exercise undertaken by Sime Darby in 2017, KSDB had entered into a sale and purchase agreement with Sime Darby Plantation Berhad to acquire 8,796 acres of land in MVV.

The original cost of investment of the Entire MVV Lands acquired under the demerger exercise was RM2.5 billion, of which RM366.4 million was the original cost apportioned to the land. The net book value of the land in KSDB was RM367.3 million, which included the allocated original cost of investment and capitalised costs.


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