Malaysia's Sime says to finish DMIB revamp in 2003

Newswire

KUALA LUMPUR, Nov 26 (Reuters) - Malaysian conglomerate Sime Darby Bhd said on Tuesday the restructuring of its tyre manufacturing subsidiary DMIB Bhd will be completed by April or May next year. In April, Sime unveiled a reorganisation plan for DMIB that involved taking the 51-percent owned unit private, in a bid to make the tyre firm more competitive ahead of market liberalisation. "An application has been made to the Securities Commission for the restructuring of DMIB. We expect the ...

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