MALAYSIAN Resources Corp Bhd (MRCB) is likely to raise its stake in property developr UDA Holdings Bhd to turn the associate company into a subsidiary, said managing director and chief executive officer Shahril Ridza Ridzuan.
Last month, MRCB aborted its earlier proposal to buy the remaining 75.07% stake in UDA that it does not already own due to several unresolved issues. Shahril declined to elaborate but reiterated that the group was interested to acquire the property development company.