news

UEM Sunrise terminates all merger discussions with EcoWorld

 

KUALA LUMPUR (Jan 13): UEM Sunrise Bhdhas ended all discussions on the proposed merger with Eco World Development Group, following EcoWorld’s earlier announcement on calling off the proposed merger deal.

In a media statement on the night of Jan 13, UEM Sunrise said it will continue to focus on the implementation of its growth strategies to maintain its position as one of Malaysia’s leading property developers.

The proposal for the merger of UEM Sunrise and EcoWorld into an enlarged entity was made by UEM Group Berhad and had been carefully deliberated by the Company’s Board of Directors. The UEM Sunrise Board of Directors had in fact agreed on December 30, 2020 that it will embark into the next phase, i.e. the formal process of due diligence.

“In spite of the prevailing economic uncertainties and challenging market conditions, UEM Sunrise remains cautiously optimistic given opportunities continue to exist as Malaysians prioritise having their own homes. 

We will further leverage upon our digital-first marketing plans and strategies, market-leading customer-centricity and roll out products tailored to meet customers’ demand. With its healthy balance sheet, UEM Sunrise is well-positioned to pursue its options to support its growth plans,” said the company.

Get the latest news @ www.EdgeProp.my

Subscribe to our Telegram channel for the latest stories and updates 

Click here for more property stories

Looking for properties to buy or rent? With >150,000 exclusive listings, including undervalued properties, from vetted Pro Agents, you can now easily find the right property on Malaysia's leading property portal EdgeProp! You can also get free past transacted data and use our proprietary Edge Reference Price tool, to make an informed purchase.
SHARE
RELATED POSTS
  1. Analysts neutral on the cessation of EcoWorld and UEM Sunrise merger deal
  2. EcoWorld calls off proposed merger with UEM Sunrise
  3. Ex-Boustead MD Amrin 'might be heading' to UEM Sunrise