Sime Darby Property mutually terminates joint venture with Brunsfield Metropolitan

• The JV will now be Sime Darby Property’s wholly owned subsidiary, and will be renamed in due course, the group said.

KUALA LUMPUR (Dec 8): Sime Darby Property Bhd and Brunsfield Metropolitan Sdn Bhd have mutually terminated their 60:40 joint venture (JV).

The JV,  Sime Darby Brunsfield Holding Sdn Bhd, is dissolved at book value effective Friday, said Sime Darby Property in a statement.

The JV will now be Sime Darby Property’s wholly owned subsidiary, and will be renamed in due course, the group said.

“The termination of this joint venture is not expected to have any material impact on Sime Darby Property’s financial performance,” it added.

Senada at KLGCC Resort is the final project by the JV. According to its website, the company’s past projects include Brunsfield EmbassyView and Oasis Ara Damansara.

At the time of writing on Friday, shares of Sime Darby Property were trading up 0.5 sen or 0.85% at 59.5 sen.

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