KUALA LUMPUR -- Fueled by an acquisition spree and changes in its portfolio, Sime Darby Bhd is hoping to leap ahead in Malaysia's automotive sector through its ambitious purchase of a majority stake in UMW Holdings.
The government-linked conglomerate is optimistic that the 3.57 billion ringgit ($761 million) it paid in December for a 61.2% stake in the local automotive major will open up opportunities in the sector by adding the Toyota and Perodua brands to its local sales and distribution portfolios.
