KUALA LUMPUR, Sept 4 — Malaysia is offering China a stake in its prized jewel — Sime Darby Berhad, the plantation-to-power conglomerate that is one of the world’s largest palm oil companies and also with extensive interests in the Middle Kingdom.
The unprecedented step was taken recently by the Najib administration and signals a move by the government to sell down its holdings in government-linked companies (GLCs) as well as strengthen strategic ties with certain countries by allowing them or their investment arms to hold equity in Malaysian blue-chip GLCs.
The Malaysian Insider has learnt from government sources that Najib Razak discussed the plan to offer up to 10 per cent of Sime Darby Berhad for sale to China at a recent Cabinet meeting.
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