<article>Malaysia&#8217;s <a style="color: #000080;" href="http://www.dealstreetasia.com/stories/59263-59263/">Sime Darby</a> and <a style="color: #000080;" href="http://www.dealstreetasia.com/stories/my-icon-offshore-umw-og-may-merge-trading-in-shares-suspended-63100/">UMW Holdings</a> have denied any plans for a merger between the motor units of two companies.</article>

Malaysia&#8217;s <a style="color: #000080;" href="http://www.dealstreetasia.com/stories/59263-59263/">Sime Darby</a> and <a style="color: #000080;" href="http://www.dealstreetasia.com/stories/my-icon-offshore-umw-og-may-merge-trading-in-shares-suspended-63100/">UMW Holdings</a> have denied any plans for a merger between the motor units of two companies.
Issuing a statement on Monday denying the merger report in a local daily, Sime Darby said, &#8220;It is untrue that a merger of the automotive businesses of the two companies is on the cards.&#8221;
Sime Darby, a plantation company with interests in property and motors too said it has announced its plans to create three independent listed companies on <a style="color: #000080;" href="http://www.dealstreetasia.com/stories/malaysia-fb-spac-red-sena-makes-lukewarm-debut-on-bursa-malaysia-22950/">Bursa Malaysia</a> and &#8220;this is our main focus currently&#8221;.
Sime Darby Motors, the company&#8217;s automotive arm is the second largest BMW dealer in the world and a major player in the automotive industry in the Asia Pacific region. On the other hand, UMW markets and distributes vehicles from Toyota and Lexus in Malaysia. It is also a large shareholder with 38 per cent in local automotive brand Perodua.
Meanwhile, UMW Holdings in another statement said &#8220;there are no such plans,&#8221; while commenting on the merger.
Further, adding that UMW had announced its plans to exit the oil &amp; gas sector in January through distribution in specie of all its shares in UMW Oil &amp; Gas Corporation Bhd to all entitled shareholders of UMW.
&#8220;This distribution exercise will be followed by a progressive exit of non-listed oil &amp; gas assets held by UMWH. The Group is currently focusing on executing the announced initiatives as per the stated timeline,&#8221; it added.
Apart from automotive, UMW is also involved in equipment, manufacturing &amp; engineering, and oil and gas.
Permodalan Nasional Bhd (PNB) is a major shareholder in both companies. In fact, a possible merger would need a permission from PNB and also approval of partners by the firms.
Also Read:
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<a style="color: #ff0000;" href="http://www.dealstreetasia.com/stories/59263-59263/">Malaysia’s Sime Darby says could list its plantations division</a>
<a style="color: #ff0000;" href="http://www.dealstreetasia.com/stories/blackstone-in-talks-to-buy-sime-darby-assets-in-australia-39641/">Blackstone in talks to buy Sime Darby assets in Australia</a>

Malaysia: No merger on cards for Sime Darby-UMW auto biz

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Malaysia: No merger on cards for Sime Darby-UMW auto biz

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