Sime Darby Property Bhd has awarded long-term incentive share offers to its top management team under its newly established Long-Term Incentive Plan (LTIP), with Group Managing Director and Chief Executive Officer Datuk Seri Azmir Merican Azmi Merican receiving the largest allocation.
Azmir accepted an offer of 6.14 million ordinary shares, representing 0.09% of the company’s issued share capital, as of Friday the share price closed at RM1.41, which makes the value at RM8.6 million.
The awards form part of the LTIP established on June 12, 2026, which is designed to align senior management’s interests with the company’s long-term performance and shareholder value creation.
Among the other key executives receiving share awards were Managing Director of Property Development Datuk Ir. Mohd Sohimin Mohd Alayedin, who accepted 1.98 million shares, and Group Chief Financial Officer Lau Sui Hing Betty with 1.82 million shares.
Other recipients include:
- Chief Operating Officer, Integrated Development Datuk Ir. Mohd Idris Jaya Murali Abdullah (1.94 million shares);
- Chief Operating Officer, Township Development Leong Yong Kuan (1.94 million shares);
- Chief Marketing and Sales Officer Datuk Lai Shu Wei (1.78 million shares);
- Chief Operating Officer, Investment & Fund Management Aurelia Lee May Yoke (1.32 million shares);
- Chief Business Officer Aravindan K. Devapalan (1.30 million shares);
- Chief Procurement & Cost Officer Lee Heng Meng (1.27 million shares);
- Chief Integrity, Risk and Compliance Officer Tang Ai Leen (1.28 million shares);
- Chief Digital & Technology Officer Tan Yew Seng (1.50 million shares);
- Chief People Officer Chua Eng Imm (1.11 million shares); and
- Group Company Secretary Noreen Melini Muzamli (610,355 shares).
The company said the awards were accepted on June 30, 2026, with each share carrying a consideration of RM1.00.
The shares will not vest immediately. Instead, recipients will only become entitled to the new shares upon meeting specified vesting conditions under the LTIP.
These include achieving performance targets covering the period from January 1, 2026 to December 31, 2028. The vested shares will then be issued progressively over three years, with the first tranche scheduled to vest on June 30, 2028, followed by subsequent annual vesting until June 30, 2030.
Sime Darby Property said the dealings were disclosed in accordance with Bursa Malaysia’s Main Market Listing Requirements as transactions by principal officers outside the company’s closed period.
