SIME DARBY TO INVEST UP TO RM2 BLN IN CHINA

KUALA LUMPUR, Nov 30 (Bernama) -- Malaysia's largest conglomerate Sime Darby
Bhd will invest between RM1 billion (US$294.68 million) and RM2 billion
(US$589.36 milion) to expand its operations in China over the next five years,
said its Group Chief Executive Ahmad Zubir Murshid.

The group would look for opportunities in China in all its five core
businesses namely industrial, motor, property, plantation and, oil and gas.

"We will seek opportunities in five core businesses," said Ahmad Zubir, who
is also Sime Darby Chairman after the company's annual general meeting here
Monday.

Sime Darby recently established Sime Darby (China) Enterprise Management
Company Ltd, a subsidiary registered in China with a capital of US$10 million.

The new unit provides services to enterprises established in China by the
Sime Darby Group in terms of human resource management, corporate management,
economic information consultation, investment information consultation and
services out-sourced by overseas companies.

On other developments, he said Sime Darby Bhd had recently priced its RM2
billion three, five and seven-year Islamic medium-term notes (IMTN), issued
under the RM4.5 billion Islamic medium-term note programme and the RM500 million
Islamic commercial paper/IMTN programme, with a combined master limit of RM4.5
billion.

Sime Darby said in a statement that the issuance was initially for RM1.5
billion but was later upsized to RM2 billion to cater for the overwhelming
response from investors. (US$1=RM3.39)
-- BERNAMA