Sime Darby Stretches Luxurious Car Market to Indonesia

Sime Darby, a Malaysian company, is set to expand its automotive business into Indonesia. In an interview with Reuters on Nov 30, Sime Darby Chief Executive Officer Jeffri Salim Davidson revealed plans to establish a luxury car retail business in Indonesia, aiming to capitalize on the country's economic growth potential. "This opportunity is too significant to ignore," he stated.

Sime Darby will also venture into India, seeking partnerships with local entities and initiating a car retail business there. He pointed out that India, with the world's largest population, is also the fifth-largest economy globally, presenting an unmissable opportunity. Currently, 35 percent of Sime Darby's revenue comes from China. Despite a slowdown in economic growth, Jeffri noted that China's demand for luxury cars remains strong. "The Chinese have the financial means. The issue in China is not demand, but supply," he said.