KUALA LUMPUR: UEM World Bhd plans to raise RM1bil in the third quarter this year to fund Nusajaya's expansion over the next two years, group managing director Datuk Ahmad Pardas Senin said.
And though the group can borrow up to RM2bil after a de-gearing exercise, it needs only RM1bil initially. Its gearing has been reduced to 1.5 times from more than three times after it sold parcels of land in Nusajaya and offset the payment for debts owed to Khazanah Nasional Bhd.
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