KUALA LUMPUR: UEM Sunrise Bhd
's sale of its Mayfair project at St Kilda Road in Melbourne is oportunistic as the take-up rate for the project has not been encouraging since its launch two years ago, says RHB Investment research.
Upon the completion of the sale in 4Q19, the group will book a RM54.3mil net disposal gain as well as relieve itself of the working capital and financing commitments for the project.
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