Sime Darby Property Berhad: Comprehensive Company Profile

Background

Company Overview

Sime Darby Property Berhad, established in 1973, is Malaysia's leading property developer with over 50 years of experience in building sustainable communities. The company has developed more than 100,000 homes across 25 active townships and developments, with a total estimated Gross Development Value (GDV) of RM103 billion.

Mission and Vision

Sime Darby Property is committed to creating sustainable communities and townships, aiming to set industry benchmarks for quality, innovation, and sustainability.

Industry Significance

As a pioneer in sustainable property development, Sime Darby Property has significantly influenced Malaysia's real estate landscape, contributing to urban development and economic growth.

Key Strategic Focus

Core Objectives

The company's strategic focus includes:

Diversified Product Portfolio: Offering a mix of residential, commercial, industrial, and leisure properties to cater to various market segments.

Sustainable Development: Emphasizing eco-friendly and sustainable building practices.

Innovation: Integrating advanced technologies and innovative designs in its projects.

Primary Markets

Sime Darby Property's developments are strategically located across Malaysia, including key growth areas in the Klang Valley, Negeri Sembilan, and Johor.

Financials and Funding

Financial Performance

In the financial year ended 31 December 2024 (FY2024), Sime Darby Property achieved:

Revenue: RM4.3 billion, a 24% year-on-year increase.

Operating Profit: RM899.8 million, a 48% increase.

Profit Before Tax (PBT): RM780.0 million, a 28% increase.

Profit After Tax and Minority Interest (PATAMI): RM502.2 million, a 23% increase.

Sales Performance

The company recorded all-time high sales of RM4.1 billion in FY2024, exceeding its target by 17%.

Dividend

A total dividend of 3.0 sen per share was declared for FY2024.

Pipeline Development

Key Projects

City of Elmina: A flagship township recognized for its masterplan excellence.

Elmina Lakeside Mall: Opened in August 2024, achieving a 98% occupancy rate and attracting 180,000 visitors in its first week.

Kanopi Residences: The first high-rise serviced apartments in Elmina City Centre, launched in Q4 2024.

Future Developments

The company plans to launch products worth RM4.0 billion in GDV in FY2025, focusing on residential high-rise and industrial segments.

Technological Platform and Innovation

Proprietary Technologies

Sime Darby Property integrates advanced construction technologies and sustainable building practices to enhance efficiency and environmental sustainability.

Scientific Methodologies

The company employs innovative design methodologies and urban planning principles to create sustainable and livable communities.

Leadership Team

Key Executives

Dato’ Seri Azmir Merican: Group Managing Director & Chief Executive Officer.

Competitor Profile

Market Insights and Dynamics

The Malaysian property market is competitive, with several key players contributing to its growth. Sime Darby Property's strategic initiatives have positioned it as a leader in this dynamic environment.

Competitor Analysis

Sunway Bhd: Focuses on integrated developments and has a strong presence in the property market.

Gamuda Land: Known for innovative township developments.

S P Setia Bhd: Specializes in residential and commercial properties.

UOA Development Bhd: Concentrates on high-rise residential and commercial projects.

IJM Land Bhd: Engages in diverse property developments across Malaysia.

Strategic Collaborations and Partnerships

Notable Partnerships

Battersea Power Station Redevelopment: Part of a Malaysian consortium that redeveloped the iconic Battersea Power Station in Central London.

Google Data Centres: Entered a strategic partnership with Google to develop data centres in Elmina Business Park, covering 126 acres with a 20-year lease value totaling RM7.6 billion.