Sime Darby Property : Mutual Termination of Sime Darby Property and Brunsfield Metropolitan Joint Venture

ARA DAMANSARA, 8 DECEMBER 2023: Sime Darby Property Berhad ("Sime Darby Property" or "Group") and Brunsfield Metropolitan Sdn Bhd ("Brunsfield Metropolitan") have mutually terminated the Sime Darby Brunsfield Holding Sdn Bhd ("SDBH") joint venture. This decision dissolves the 60:40 joint venture at book value and the separation is effective as of 8 December 2023.

Senada at KLGCC Resort is the final project by the joint venture. Following the termination of the joint venture, the Group will continue to pursue its business directions.

SDBH is now a wholly-owned subsidiary of Sime Darby Property and will be renamed in due course. The termination of this joint venture is not expected to have any material impact on Sime Darby Property's financial performance.

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About Sime Darby Property Berhad
Sime Darby Property is a leading property developer with 50 years of experience in building sustainable communities. With 25 active townships and developments under its belt, Sime Darby Property has a wide reach encompassing assets and operations across the country. It marked its presence in the United Kingdom as part of a Malaysian consortium that developed the iconic Battersea Power Station in Central London.

As a responsible corporate player, Sime Darby Property and its philanthropic arm, Yayasan Sime Darby ("YSD") actively implement various social welfare initiatives to assist underprivileged communities living within and nearby its townships. A multi-award-winning property group with numerous international and local accolades, Sime Darby Property is a constituent of the MSCI ACWI Small Cap Index with MSCI ESG Rating of BBB and is rated by the Carbon Disclosure Project.

Sime Darby Property is honoured to be recognised with numerous real estate industry awards throughout the years. In 2022, the Group remains a top property developer in 'The Edge Malaysia's Top Property Developers Awards', achieving the feat for the eleventh year running. The Group is also a consistent recipient of the 'BCI Asia Awards' for 'Top 10 Developers (Malaysia)' and was accorded a Platinum ranking in the Property Development category for Putra Brand Awards 2022, as well as named Top 10 in the 'Top-of-The-Chart (RM1 billion and above)' category under FIABCI-Malaysia and Star Media Group's 'Malaysia Developer Awards 2022'.

For more information log on to www.simedarbyproperty.com
Media Contact: Muhammad Amyzaddin Raya | [phone] | [e-mail]
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