Sime Darby, LOGOS set up platform to focus on logistics assets in Malaysia

A Sime Darby logo is on display at the entrance to its plantation in Sepang outside Kuala Lumpur August 5, 2010. REUTERS/Bazuki Muhammad

Sime Darby has formed a joint venture with Australian logistics property LOGOS to set up a fund management platform that will focus on logistics facilities in Malaysia.

In a statement, Sime Darby said its wholly-owned subsidiary Sime Darby Property Capital Holdings has partnered with LOGOS SE Asia to establish the platform to develop industrial and logistics assets in the country.

Sime Darby Properties, which will hold 51% equity of the JV company, will become the first public-listed developer in Malaysia to venture into the creation of development funds within the industrial and logistic sector.

The development fund collaboration initially aims to raise $200 million in seed money, according to Sime Darby’s filing with Bursa Malaysia. The fund will finance the planned development of industrial property in Klang, Selangor.

Sime Darby said it has allocated a 177-acre site within its prime Bandar Bukit Raja township in Klang for the purpose of the JV, which will focus on build-to-suit to lease or sell assets, primarily for clients in the logistics sector.

LOGOS Property’s experience in providing sustainable, integrated logistics solutions with green building certification will be replicated at the planned facilities, with the implementation of the latest in warehouse/logistics automation and construction technology, according to the announcement.

“The setting-up of fund management platforms is part of the value creation strategies we are introducing to broaden Sime Darby Property’s income streams in today’s challenging market,” said Sime Darby Property Group managing director Azmir Merican.

The firm is an Asia Pacific logistics specialist that manages all aspects of logistics real estate, including investment management, sourcing land or facilities, and undertaking development and asset management, on behalf of some of the world’s leading global real estate investors.

LOGOS Property is present in 10 countries across the Asia Pacific region and has a portfolio comprising over 8.9 million square meters of property owned and under development across 26 ventures.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.