UEM Sunrise sells Mersing land for RM45m to Lagenda Properties

KUALA LUMPUR (July 2): UEM Sunrise Bhd said it has sold three parcels of freehold agriculture land in Mersing, Johor to Lagenda Properties Bhd for RM45.1 million.

This translates to RM2.4 per sq ft for the plots measuring 431.1 acres.

In a bourse filing, UEM Sunrise said its indirect wholly-owned subsidiary Sunrise Mersing Sdn Bhd has entered into agreements with Lagenda Mersing Sdn Bhd, a wholly-owned subsidiary of Lagenda Properties, for the disposal.

This is not the first time UEM Sunrise has sold land to Lagenda Properties. In August last year, it sold 623.1 acres of land in Tapah, Perak for RM29.9 million.

UEM Sunrise’s share price closed 0.5 sen or 1.25% lower at 39.5 sen, for a market capitalisation of RM2 billion.

Lagenda’s share price closed unchanged at RM1.27 today, valuing the group at RM1.04 billion.

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