KUALA LUMPUR: Sime Darby Bhd is targeting RM2bil in annual core profit by 2029 as it pursues a major turnaround strategy centred on BMW in China, recurring revenue from data centres and growth opportunities in mining.

After suffering losses in its China automotive business for roughly 10 consecutive quarters, the group has exited several brands, closed dealerships and cut jobs while doubling down on BMW.

Meanwhile, its Caterpillar generator and maintenance business is tapping into growing data-centre demand, while a recovery in Australia's mining sector and its established automotive presence in Malaysia offer further earnings opportunities.

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