UEM Sunrise's JV for smart-city solutions with TM and Iskandar Investment to be wound up
The JV — Inneonusa Sdn Bhd — is 51%-owned by TM, 39%-owned by UEM and 10% by IIB.
The JV — Inneonusa Sdn Bhd — is 51%-owned by TM, 39%-owned by UEM and 10% by IIB.
It saw over 100 million shares traded, indicating investors' avid interest in the company due to its huge land bank in Johor, which is seen as a hotspot for the property sector due to upcoming high-value transit developments such as the Johor-Bahru Singapore Rapid Transit System and the formation of the Johor-Singapore Special Economic Zone (SEZ) in the state.
Event to foster and strengthen transfer of knowledge between architects and the built industry KUALA LUMPUR (Dec 22): UEM Sunrise Bhd recently collaborated with the Kuala Lumpur Architectural Festival to organise the KLAF Design Charrettes 2023.
The essential items donated included two sets of uniforms, one school bag, a pair of shoes, socks and a sports attire voucher.
UEM Sunrise stated that the disposals of the Lands are in line with its three-phase strategic turnaround plan: Triage, Stabilise and Sustain, particularly under the first phase, Triage, to transform the company into a balanced real estate player with the immediate goal of strengthening financial performance via, among others, monetisation of non-strategic lands.
As of Sept 30, 2023, the company has recorded property sales of approximately RM1.
Among the various incentives include access to AFFIN BANK’s INVIKTA Premier Banking for female customers with financing amounts exceeding RM500,000.
The development consists of two towers, both 41 storeys high, totalling 870 units.
The disposal will result in UEM Sunrise no longer being the main driver of the development of the commercial zone of Medini, as its shareholding in NLSB will decline to 49% from 55%, while that of IHH will increase to 51% from 45%.
The property developer issued the new IMTNs in two tranches: a RM200 million first tranche with a five-year tenure and a RM150 million second tranche with a seven-year tenure.