News about UEM Sunrise

From the hectic rat race to the inescapable crawling traffic amid the concrete jungle – city life tends to leave you drained and longing for the next getaway in the great outdoors.

UEM Sunrise said both the group and the purchaser, Olive Investment Trust, have mutually agreed to discontinue with the proposed divestment since the settlement of the consideration was not concluded and settled within the prescribed time.

UEM Sunrise said its indirect wholly owned Nusajaya Rise Sdn Bhd has inked two sale and purchase agreements with NTPSB, the JV of UEM Sunrise's wholly owned UEM Land Bhd and CapitaLand's indirect unit Ascendas Land (Malaysia) Sdn Bhd, for the sale of the plots for RM289.

In a bourse filing on Friday (Dec 2), the property developer said the group’s indirect wholly-owned subsidiary, Symphony Hills Sdn Bhd, entered into three sale and purchase agreements with Sunsuria’s 65%-owned subsidiary, Tapah Land Development Sdn Bhd, for the disposals.

UEM Sunrise CEO Sufian Abdullah: Residensi Astrea’s topping [out] demonstrates our continued efforts to bring value to the Mont’Kiara neighbourhood as one of its pioneer developers, despite the challenges we faced and overcame.

UEM Sunrise noted the group's operating profit margins in the current quarter improved substantially at 16% compared to prior year's corresponding quarter of -1% partly due to a one-off recognition of other operating income amounting to RM10 million and lower operating expenses due to fewer launches and bad debts recovery from the retail segment.

In the immediate term, the collaboration with Gentari will explore the introduction of low-carbon solutions, specifically EV charging points and an electric forecourt at UEM Sunrise facilities, as well as solar farms at UEM Sunrise lands.

The new IMTNs have tenures of three years, which will mature on Sept 19, 2025; and five years, which will mature on Sept 17, 2027.

UEM Sunrise’s chief executive officer Sufian Abdullah said the possibility of another overnight policy rate hike is unlikely to have a significant impact on sales or sentiment.

This compares to the net loss of RM7.