Sime Darby Berhad announced that it has successfully completed its acquisition of UMW Holdings Berhad with 100% stake in automotive group making it now a wholly-owned subsidiary.
Dato’ Jeffri Salim Davidson, Sime Darby Berhad’s Group Chief Executive Officer, said, “This milestone is a clear indication of the market’s trust in our strategic direction and the value we are poised to create with UMW Holdings in our fold. Our foremost priority now is to complete the integration of UMW into the wider Sime Darby ecosystem. Leveraging our collective strengths, especially within the automotive and industrial sectors, this will enable us to reinforce our competitive edge and expand our domestic footprint to further drive long-term growth.”
“This is also in line with our 5-Year Strategy Masterplan to grow our core businesses of Industrial and Motors across key regional markets and strengthen our earnings contribution from Malaysia,” added Dato’ Jeffri.
Mustamir Mohamad, UMW’s Managing Director said, “Joining the Sime Darby Berhad family as a key business unit marks an exciting new chapter for UMW, allowing us to harness new opportunities and share expertise. While ensuring seamless business continuity during the integration, we look forward to growing further as part of Sime Darby, as we remain steadfast in our commitment to delivering excellence to all our stakeholders.”
