KUALA LUMPUR Feb 27 Malaysian conglomerate Sime
Darby Bhd said it will undertake a restructuring of
the group ahead of the planned spin-off of its plantations and
The restructuring will include the group's borrowings, the
transfer of certain assets - including land - within the group,
and capitalisation of inter-company loans, Sime Darby said in a
statement following its second-quarter earnings.
Sime Darby also said it will not own any shares in the two
companies that would be spun off.
The conglomerate said in January that it would list its
plantations and property units separately on the local stock
exchange, while its industrial, motors, logistics and healthcare
divisions will remain under Sime Darby Berhad.
(Reporting by Emily Chow; writing by A. Ananthlakshmi)