UEM Sunrise’s land bank monetisation a positive

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.

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UEMSunrise , LandDivestment , DebtReduction , RealEstate , PropertyMarket , JohorDevelopment

   

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