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UEM Edgenta’s gearing to reduce, plans to sell 61.2% in NZ-based subsidiary


UEM Edgenta’s managing director and chief executive officer Datuk Azmir Merican(filepic) said in the statement the proceeds from the exercise would be used mainly to pare down its debts.

UEM Edgenta’s managing director and chief executive officer Datuk Azmir Merican(filepic) said in the statement the proceeds from the exercise would be used mainly to pare down its debts.

PETALING JAYA: UEM Edgenta Bhd ’s gearing is poised to drop by half after it announced plans to dispose of its 61.2% stake in New Zealand-based public-listed subsidiary, Opus International Consultants Ltd (OIC).

The asset management service provider said its gross gearing would drop to 0.4 times from 0.8 times after the corporate exercise is completed.

   

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