Sime Darby rubbishes report on auto unit merger

Sime Darby Bhd has rubbished a local newspaper report titled, "Sime Darby Motors and UMW Holding Merger on The Table".

"This report is incorrect. It is untrue that a merger of the automotive businesses of the two companies is on the cards," it said in a statement today.

Sime Darby Motors is the second largest BMW dealer in the world and a major player in the automotive industry in the Asia Pacific region, it said.

"Corporate exercises undertaken by Sime Darby Motors take into account the best interest of all our stakeholders, including shareholders and principals.

"Sime Darby has announced its plans to create three independent listed companies on Bursa Malaysia and this is our main focus currently," it added. -- Bernama