The new ‘SD Guthrie’ brand has been approved by shareholders of Sime Darby Plantation Berhad (SD Plantation or the Company) at its Extraordinary General Meeting (EGM) held earlier today.
The approval for the name change was sought immediately following the 21st Annual General Meeting of SD Plantation, where an overwhelming 99.99% of shareholders voted in favor of the Special Resolution.
Major Malaysian institutions, including Permodalan Nasional Berhad (PNB), Kumpulan Wang Simpanan Pekerja (KWSP), Kumpulan Wang Persaraan [Diperbadankan] (KWAP), Lembaga Tabung Haji (LTH), and Pertubuhan Keselamatan Sosial (PERKESO), own approximately 80% of SD Plantation.
“Today’s resounding endorsement echoes the trust and confidence our shareholders have in us,” said SD Plantation’s Chairman, Tan Sri Dr. Nik Norzrul Thani Nik Hassan Thani. “The SD Guthrie brand carries much significance for us as an organization, and I am delighted that we will embark on the next chapter of our 200-year history with this storied brand.”
The Company expresses its sincere gratitude to its shareholders, employees, customers, and all stakeholders for their continued support as it embarks on this exciting transformation. The proposed new brand has been submitted to the Companies Commission of Malaysia for approval.
The SD Guthrie brand pays homage to two great names in the Malaysian plantation industry – Kumpulan Guthrie Berhad and Sime Darby Plantation Berhad. The Guthrie name is linked to one of the most audacious and successful moves made by PNB. In 1981, PNB executed a dawn raid on the London Stock Exchange, seizing control of Guthrie within four hours, bringing the giant under Malaysian control. In 2007, the Guthrie and Sime Darby groups merged with Golden Hope Plantations Berhad, creating an enlarged Sime Darby Group, with SD Plantation as its largest division.
SD Plantation was listed as a standalone company on Bursa Malaysia on November 30, 2017. This 2017 demerger resulted in three listed “Sime Darby” companies: Sime Darby Berhad, Sime Darby Property Berhad, and SD Plantation. This often created market confusion due to the shared brand and logo. Additionally, the “Sime Darby” brand is owned and controlled by Sime Darby Berhad. SD Plantation was a licensee under a Brand and Trademark Licensing Agreement, paying an annual fee for the brand’s use and requiring Sime Darby Berhad’s permission for brand applications.
“As SD Guthrie, we will continue to drive long-term value for our stakeholders. We are exploring exciting new growth opportunities in adjacent sectors, in line with our values and purpose,” said SD Plantation’s Group Managing Director, Datuk Mohamad Helmy Othman Basha. On May 7, 2024, SD Plantation announced plans to co-develop the Kerian Integrated Green Industrial Park in Perak, Malaysia, in collaboration with PNB, the Federal Government, and the State of Perak. The plan includes establishing 660 acres of solar farms as the principal green energy source for the area.
The new SD Guthrie logo will be unveiled soon.
The Company will trade on the Malaysian bourse as Sime Darby Plantation Berhad (Stock Code: 5285) until the registration and approval of the new name are concluded through the Companies Commission of Malaysia.
