PETALING JAYA: UEM Sunrise Bhd
has divested more non-core land to lower its debt, but many analysts remain bearish on the stock due to its high valuation.
The property group has agreed to sell its remaining 40% stake in Aura Muhibah Sdn Bhd (AMSB) to KLK Land Sdn Bhd, a wholly owned unit of Kuala Lumpur Kepong Bhd (KLK), for RM386.2mil cash. KLK Land will then wholly own AMSB.
