Latest news with #SimeDarbyProperty
New Straits Times
04-06-2025
- Business
- New Straits Times
Sime Darby Property ups minimum wage for B40 workers by 80pct to RM2,700
PETALING JAYA: Sime Darby Property Bhd has raised the minimum living wage for employees in the B40 income group by 80 per cent, from RM1,500 to RM2,700 a month, as part of its commitment to employee well-being and inclusive growth. Its chairman Datuk Rizal Rickman Ramli said the adjustment takes into account the increased cost of living and aims to provide better financial support for lower-income employees. "This initiative highlights our commitment to financial stability and the well-being of our workforce, particularly those most impacted by rising living costs," he said in the group's integrated annual report 2024. The wage hike is part of Sime Darby Property's wider workforce development efforts under its SHIFT25 transformation plan. In 2024, the company recorded a 43 per cent increase in employee training hours and introduced new programmes in areas such as artificial intelligence, sustainable development and urban biodiversity. Rizal said these measures come as the group looks to upskill its workforce in line with evolving industry demands and growing environmental, social and governance expectations. Sime Darby Property's new minimum wage of RM2,700 exceeds the national statutory floor by RM1,000. Under the government's revised minimum wage policy, the monthly wage floor was raised to RM1,700 beginning February this year for employers with five or more workers. Companies with fewer than five employees have until August to comply. Non-compliance is an offence under the National Wages Consultative Council Act 2011 (Act 732) and may result in penalties. The new national rate, announced in Budget 2025, is expected to benefit over 4.3 million workers across the country.
Barnama
30-05-2025
- Business
- Barnama
YCH Group Breaks Ground On RM500-million Supply Chain City® Malaysia In Sime Darby Property's Bandar Bukit Raja, Strengthening Asean Connectivity And Malaysian Logistics Ecosystem
SELANGOR, Malaysia, May 30 (Bernama) -- YCH Group today marked a significant milestone with the groundbreaking of Supply Chain City® Malaysia ('SCC MY'), a RM500 million project located within Bandar Bukit Raja ('BBR'), Selangor, an integrated, award-winning township developed by Sime Darby Property Berhad ('Sime Darby Property'). The groundbreaking ceremony was attended by YB Senator Tengku Datuk Seri Utama Zafrul Tengku Abdul Aziz, Minister of Investment, Trade and Industry (MITI) Malaysia, Mr Shivakumar Nair, Singapore Acting High Commissioner to Malaysia, Tan Sri Nazir Razak, Chairman of the ASEAN-BAC, Malaysia Chapter, Dr Robert Yap, Executive Chairman of YCH Group, Mr Ryan Yap, Country General Manager, YCH Group Malaysia, Dato' Seri Azmir Merican, Group Managing Director & Chief Executive Officer of Sime Darby Property, as well as key customers and partners of YCH Group.
The Star
30-05-2025
- Business
- The Star
Malaysia aims to be top logistics hub
Putting plans in action: Tengku Zafrul (second from left) at the groundbreaking ceremony of the SCC MY project in Bukit Raja, Klang. — KK SHAM/The Star KLANG: Malaysia is now one step closer to its dream of becoming Asean's premier logistics and trade hub with the groundbreaking of the Supply Chain City Malaysia (SCC MY) project, says Tengku Datuk Seri Zafrul Abdul Aziz. To be built by Singapore-based supply chain and logistics conglomerate YCH Group in partnership with Sime Darby Property, the RM500mil valued project will see the construction of a modern smart logistics facility in Bandar Bukit Raja. The Investment, Trade & Industry Minister (Miti) said SCC MY will include state-of-the-art automation and AI-driven logistics systems, almost never seen before in the country. 'Combined with planned sustainability solutions, this project is set to accelerate industrial transformation through advanced supply chain solutions and logistics innovation. 'This facility will elevate Malaysia's logistics industry to a new level of global competitiveness,' he said in his speech at the project's groundbreaking ceremony here yesterday. Tengku Zafrul also revealed that the project will help train local talent for these automated systems with the integration of Singapore's LEARN ecosystem through collaboration with Singapore's Supply Chain and Logistics Academy (Scala). 'This will ensure our local hired talents are equipped with higher-end skills while future-proofing our supply chain ecosystem,' he said. Tengku Zafrul also said SCC MY is the first project under the New Industrial Master Plan 2030 (NIMP 2030) and is a testament to increasing regional cooperation in Asean. 'This project embodies the spirit of innovation, collaboration and resilience that defines our nation and the region while also being a testament to our commitment to fostering sustainable growth and regional integration. 'The government, through Miti and other relevant agencies, stands ready to support this endeavour and ensure its success,' he added. YCH Group executive chairman Robert Yap said SCC MY would set new standards of logistics excellence in the country. 'We are dedicated to training local talent, empowering them with essential skills to support Malaysia's journey to become a preferred destination for global businesses,' he said. Yap also revealed that the project will integrate sustainable solutions to its operations like renewable energy through the use of solar panels across its entire rooftop of the facility. He added that YCH will also look to invest in local start-ups and help integrate them into SCC MY's planned logistics ecosystem. Sime Darby Property group managing director and chief executive officer Datuk Seri Azmir Merican said the project will strengthen and bring much needed innovation to local supply chain infrastructure. 'YCH brings a strong regional portfolio that will strengthen Bandar Bukit Raja as a strategic point in the regional supply chain network. 'This project is a timely example of much-needed cross-border collaboration, aligning with the region's shared focus on economic integration, sustainable and inclusive growth. 'Through our collaboration, we hope to strengthen trade linkages, support innovation and contribute meaningfully to broader regional priorities,' he said.
BusinessToday
30-05-2025
- Business
- BusinessToday
Analysts Back Sime Darby Property On Its Solid Pipeline Of Projects
Sime Darby Property Bhd - Ready-built Warehouse (Source Official wesite Nov 2024) Sime Darby Property Bhd (SDPR) maintains strong analyst support with RHB Investment Bank Bhd (RHB Research) and Hong Leong Investment Bank Bhd (HLIB) both reaffirming their BUY calls. RHB Research assigns a target price of RM2.33, implying a 64% upside from the current market price of RM1.42, while HLIB maintains a slightly more conservative target price of RM2.05, projecting a 44.4% capital gain plus a dividend yield of 2.3%, resulting in an expected total return of 46.7%. The positive outlook reflects confidence in Sime Darby Property's resilient sales momentum and strategic development plans. According to RHB Research, Sime Darby Property's first quarter of fiscal 2025 earnings fell short of expectations due to delayed recognition of some industrial property sales. Nevertheless, property sales remained robust at RM928 million, putting the company on track to meet its annual sales target of RM3.6 billion. The quarter saw industrial products contributing half of total sales, with residential high-rise, landed residential, and commercial properties making up the remainder. RHB Research noted the upcoming launch of KLGCC Mall in the second half of 2025 and the timely delivery of two data centres as key growth drivers. The firm also highlighted improved cost efficiency and reduced finance expenses as positive factors, with net gearing slightly rising to 0.28 times. HLIB described the first quarter results as within expectations, with core profit after tax and minority interests (PATAMI) rising 20.1% quarter-on-quarter to RM115.6 million despite a 10.8% revenue decline. This was largely attributed to better profit margins from a favourable product mix and lower compliance costs. Sales for the quarter were steady at RM927.5 million, representing about 26% of the company's full-year sales target. HLIB also pointed to strong unbilled sales of RM3.84 billion, the highest since 2017, signalling healthy revenue visibility. The firm forecasts steady earnings growth, adjusting its FY25 and FY26 projections slightly while introducing a positive outlook for FY27 with core PATAMI expected to reach RM663.2 million. Both research houses highlight the strength of Sime Darby Property's industrial segment, with HLIB emphasising the ongoing construction of Google's hyperscale data centre, scheduled for completion in the second half of 2026. The company's investment property portfolio is expanding, with KLGCC Mall nearing opening and strong occupancy gains in its Metrohub industrial assets. These recurring income streams are expected to boost future earnings as leasing activity remains robust. Looking forward, analysts are optimistic about Sime Darby Property's prospects, citing its diversified product offerings across residential, commercial, and industrial sectors as a key advantage. The anticipated completion of the East Coast Rail Link (ECRL) by end-2026 is expected to benefit the company's industrial landbank near Klang station, improving sales and rental yields. Both RHB and HLIB believe the group's balanced approach, combining development-driven growth with steady expansion of its investment property segment positions Sime Darby Property well for sustainable long-term earnings growth. In conclusion, Sime Darby Property continues to deliver on its strategic goals with solid sales momentum and growing recurring income, backed by positive analyst ratings and substantial upside potential from current share prices. Related
The Star
29-05-2025
- Business
- The Star
Malaysia moves closer to becoming Asean's logistics hub, says Tengku Zafrul
KLANG: The groundbreaking of the Supply Chain City Malaysia (SCC MY) project brings Malaysia a step closer to becoming Asean's premier logistics and trade hub, says Tengku Datuk Seri Zafrul Aziz. Built by Singapore-based YCH Group in partnership with Sime Darby Property, the RM500mil project will feature a modern smart logistics facility in Bandar Bukit Raja. The Investment, Trade & Industry Minister said SCC MY will include state-of-the-art automation and AI-driven logistics systems, rarely seen in the country. "Combined with planned sustainability solutions, this project will accelerate industrial transformation through advanced supply chain solutions and logistics innovation." "This facility will elevate Malaysia's logistics industry to a new level of global competitiveness," he said at the project's groundbreaking ceremony on Thursday (May 29). He added that the project will train local talent for these automated systems by integrating Singapore's Learn ecosystem in collaboration with Singapore's Supply Chain and Logistics Academy (Scala). "This will ensure our local hired talents are equipped with higher-end skills while future-proofing our supply chain ecosystem," he said. Tengku Zafrul also said SCC MY is the first project under the New Industrial Master Plan 2030 and demonstrates increasing regional cooperation in Asean. "This project embodies the spirit of innovation, collaboration, and resilience that defines our nation and the region." "It is a testament to our commitment to fostering sustainable growth and regional integration." "The Government, through MITI and other relevant agencies, stands ready to support this endeavour and ensure its success," he added. YCH Group executive chairman Robert Yap said SCC MY would set new standards of logistics excellence in the country. "We are dedicated to training local talent, empowering them with essential skills to support Malaysia's journey to become a preferred destination for global businesses," he said. Yap revealed that the project would integrate sustainable solutions into its operations, like renewable energy, using solar panels across the entire rooftop of the facility. He added that YCH would also invest in local startups and help integrate them into SCC MY's planned logistic ecosystem. Sime Darby Property group managing director and CEO Datuk Seri Azmir Merican said the project will strengthen and bring much-needed innovation to local supply chain infrastructure. "YCH brings a strong regional portfolio that will strengthen Bandar Bukit Raja as a strategic point in the regional supply chain network." "This project is a timely example of much-needed cross-border collaboration, aligning with the region's shared focus on economic integration, sustainable and inclusive growth." "Through our collaboration, we hope to strengthen trade linkages, support innovation, and contribute meaningfully to broader regional priorities," he said.
