AsiaGreater ChinaPorts and Logistics

Sime Darby exits China ports scene

Diverse Malaysian conglomerate Sime Darby is exiting the port business in China, selling its stakes in three river ports in Jining in Shandong province for RMB294m.

Sime Darby group chief executive officer Datuk Jeffri Salim Davidson said the decision was part of wider plans to divest non-core assets.

“Operations are facing continued downward pressure on margins due to intense competition from neighbouring ports and additional costs. Given these factors that are impacting the inland port sector in China, we consider the disposal price reasonable,” he added.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.
Back to top button