KUALA LUMPUR: UEM Sunrise Bhd is selling 169.8 acres of industrial plots in Iskandar Puteri to AME Elite Consortium Bhd’s subsidiaries for RM434.3mil under a proposed strategic collaboration between the two companies.
UEM Sunrise said it had signed several definitive agreements for the sale of 72 freehold industrial plots in phase three of Southern Industrial & Logistics Clusters (SiLC). The agreements were signed with Pentagon Land Sdn Bhd and Greenhill SILC Sdn Bhd.
UEM Sunrise chief officer, performance delivery and commercial Anuar Kasim said the sale would be the start of a strategic collaboration between UEM Sunrise, the landowner and master developer of Iskandar Puteri and AME.
AME constructs customised large manufacturing plants and, design-and-build and development of industrial parks.
“We are confident that this collaboration with AME will be another catalyst for the Iskandar Puteri Development Masterplan, particularly in accelerating the growth and development of SiLC.
“This will have a positive impact on the rapidly growing township of Iskandar Puteri, enhancing its livable qualities for the surrounding communities, ” Anuar said in a statement yesterday.
The deal would also create new business and employment opportunities in the region, he said.
UEM Sunrise also expected it to promote a conducive economic environment to spur demand for UEM Sunrise’s southern property products.
The sale was expected to contribute to the group’s earnings over the next three to four years.
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