CIMB Research positive on KL Kepong, UEM Sunrise JV

KUALA LUMPUR: CIMB Equities Research is positive of UEM Sunrise’s two joint ventures with Kuala Lumpur Kepong (KLK) under which it swaps a 60% stake in 500 acres of Gerbang Nusajaya land for a 60% stake in 2,500 acres of KLK's Kulai land.

It said on Monday the move would help accelerate the development of Nusajaya while potentially providing UEM Sunrise’s access to KLK's vast landbank.