Sime Darby Property Berhad and Brunsfield Metropolitan Sdn Bhd have announced that they have mutually terminated the Sime Darby Brunsfield Holding Sdn Bhd joint venture. This decision it said will officially dissolve the 60:40 joint venture at book value and the separation will be effective from 8 December 2023.
Senada at KLGCC Resort will be the final project by the joint venture. Following the termination of the joint venture, the Group said it will continue to pursue its business directions.
Sime Darby Property said SDBH which is now a wholly-owned subsidiary will be renamed in due course. The group also said the termination of the joint venture is not expected to have any material impact on Sime Darby Property’s financial performance.
