KUALA LUMPUR, Malaysia (Aug. 21) — Synergy Drive Sdn. Bhd. is merging eight palm oil plantation companies, some which operate natural rubber plantations, in a bid to dominate the palm oil business.
The new Malaysian company said it is seeking the merger of Golden Hope Plantations Bhd., Guthrie Ropel Bhd., Highlands & Lowlands Bhd., Kumpulan Guthrie Bhd., Mentakab Rubber Co. (Malaya) Bhd., Sime Darby Bhd., Sime Engineering Services Bhd. and Sime UEP Properties Bhd.
If the merger is completed — and many of the target companies´ shareholders already have approved the deal — Synergy Drive will become either the largest or one of the largest publicly held companies in Malaysia, employing more than 100,000.