UEM Edgenta unit forms JV with Township Management Services

  • Business
  • Wednesday, 13 Jan 2016

KUALA LUMPUR: UEM Sunrise Edgenta TMS Sdn Bhd (UEMSET), a joint venture (JV) between UEM Sunrise Bhd and Edgenta Township Management Services Sdn Bhd (ETMSSB) has formed a 70:30 JV shareholders’ agreement with Township Management Services Sdn Bhd (TMS).

UEMSET is 70% owned by ETMSSB, which in turn is a wholly-owned subsidiary of UEM Edgenta, and 30% owned by UEM Sunrise.

UEM Edgenta said the JV company shall have an eventual issued and paid-up share capital of RM5.5mil. UEMSET will owned 70% in the JV company while the balance will be owned by TMS.

“The  business of the JV company is to offer integrated facilities management which includes building facility management services, security management services, estate management  services  and  related  services  for building owners and residents of Medini and Iskandar Puteri (formerly known as Nusajaya) townships,” UEM Edgenta said in a filing with Bursa Malaysia.

The company said the proposed joint venture was aligned with UEM Edgenta’s strategic plan to extend and increase its  presence  in the asset and facilities management business,
specifically property and  township management services segment.

“The proposed joint venture will serve as a platform for UEM Edgenta to expand in the township management services, stratified management services and security management services for existing and new customers,” it said.
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