Sime Darby Bhd has set up Nanjing Sime Darby Motors Sales & Services Co Ltd (NSDM) in China, according to a Bernama report.
In a filing with Bursa Malaysia, Sime Darby said the business licence approval was received.
“The entire registered capital of NSDM of 5 million renminbi (about RM2.49mil) will be held by Shanghai Sime Darby Motor Commerce Co Ltd, a 60%-owned unit of Sime,” it said.
The principal activities of NSDM will be sales of motor vehicles, display of motor vehicles and provision of technical consultancy services for motor vehicles.
It said NSDM was not expected to have a material effect on the earnings or net assets of the company for the financial year ending June 30, 2012.