KUALA LUMPUR (March 20): Sime Darby Plantation Bhd announced today the incorporation of indirect wholly-owned subsidiary Sime Darby Oils North America Inc (SDONA) in the US State of Delaware on Tuesday (March 19) to undertake sales and marketing of vegetable oil products in North America.
Sime Darby Plantation told Bursa Malaysia that the certificate of incorporation dated March 19, 2019 issued by the State of Delaware was received by Sime Darby Netherlands B.V., an indirect wholly-owned subsidiary of Sime Darby Plantation, today.
"SDONA is a wholly-owned subsidiary of Sime Darby Netherlands B.V. SDONA was incorporated as a private limited company in the United States of America under the general corporation law of the State of Delaware. The entire issued share capital of SDONA of US$1 comprising 100 common shares is held by Sime Darby Netherlands B.V. The intended principal activities of SDONA are the sales and marketing of vegetable oil products in North America. SDONA has not commenced operations.
"The incorporation of SDONA is not expected to have a material effect on the earnings or net assets of the Sime Darby Plantation Group for the financial year ending Dec 31, 2019. None of the directors or major shareholders of Sime Darby Plantation or persons connected with them has any interest, direct or indirect, in the incorporation," Sime Darby Plantation said.