UEM Sunrise, Mulpha in JV to build roads in Iskandar Malaysia

KUALA LUMPUR: UEM Sunrise Bhd and Mulpha International Bhd have formed a joint venture for three road projects in the vicinity of Iskandar Malaysia valued at RM107mil.

UEM Sunrise subsidiary Nusajaya Rise Sdn Bhd (NRSB) will own 59% stake in the venture while Mulpha International unit Leisure Farm Corp Sdn Bhd (LFC) will hold the balance stake. It is the developers’ first joint venture.