UEM Sunrise strategy bodes well for its pre-tax profit

This is in line with the company’s strategy of disposing of non-core landbanks and refocusing its resources on core projects. Analysts view this development positively given its direct impact on the group’s pre-tax profit

KUALA LUMPUR: The recent disposal of land by UEM Sunrise Bhd further accelerates the monetisation of its remaining undeveloped landbank in Johor Bahru, which will allow the group to focus on existing projects with better market prospects.

Last Friday, the developer entered into three sale and purchase agreements with Lagenda Mersing Sdn Bhd, a 70%-owned unit of Lagenda Properties Bhd, to dispose of three parcels of freehold agriculture land measuring 431.1 acres in Mersing, Johor for a total consideration of RM45.1mil.