Nine years ago, Sime Darby merged with Guthrie, Golden Hope and others to create the largest plantation group in the world. This caused Sime Darby's share price to go up, doubling to RM13.3 (from RM6.75 when the deal was announced) by the time the merger was completed.

Barely two years later, Sime Darby lost over RM2 billion in its energy and utilities division. Both were areas the company was unfamiliar with and its share price dropped to premerger levels where it has not changed much ever since.

Today we take a critical look at Sime Darby's de-merger plans and whether Petronas' Malaysian Philharmonic Orchestra passes the "localization" test (and if they even should).