UEM Sunrise to dispose of 4-acre land in KL

PETALING JAYA: UEM Sunrise Bhd’s indirect subsidiary, Mega Legacy (M) Sdn Bhd (MLSB), is disposing of 4.01 acres of land in Kiara Bay, Kuala Lumpur for RM85mil to Melati Ehsan Holdings Bhd’s wholly-owned subsidiary, Pembinaan Kery Sdn Bhd (PKSB).

In a filing with Bursa Malaysia, UEM Sunrise said MLSB had also entered into a development rights agreement with PKSB, where PKSB has given irrevocable and exclusive rights to MLSB to develop and market the land.

UEM Sunrise said the deal will allow the group to repay its debt obligations whilst partly utilising the proceeds for MLSB’s working capital, in view of the upcoming launch of Residensi ZIG in Kiara Bay, tentatively scheduled in the third quarter of this year.

Follow us on our official WhatsApp channel for breaking news alerts and key updates!

UEM Sunrise


Next In Business News

Goldman Sachs' profit jumps 28% on investment banking strength
Tesla to lay off more than 10% of staff globally as sales fall
EPMB and BAIC ink 10-year vehicle assembly agreement
SCIB and Awana sign new agreement, securing exclusive contract for PPAM Mualim Project
Ringgit closes lower against greenback
Eduspec appoints Kang Pang Kiang as deputy chairman
HeiTech Padu wins RM190mil MySikap contract from JPJ
RHB invests RM3.8mil in Boost Bank, maintains 40% stake
GCAP inks MoU for Pahang hydropower project
GIP said to halt plan to buy stake in MMC Port

Others Also Read