PETALING JAYA: UEM Sunrise Bhd has proposed to dispose of its 28.99-acre freehold land in Johor Baru to Kimlun Corp Bhd’s indirect wholly owned Kii Morris Sdn Bhd (KMRSB) for RM82.1 million.
UEM told the stock exchange today, its indirect wholly owned subsidiary Nusajaya Greens Sdn Bhd has entered into a sale and purchase agreement with KMRSB for the proposed land disposal.
UEM said the land is currently used for a temporary workers accommodation and will be demolished prior to the completion of the proposed disposal.
Meanwhile, Kimlun said the proposed acquisition provides an opportunity for the group to increase its land size in strategic location. It plans to build commercial properties on the land.
Both UEM Sunrise and Kimlun shares were unchanged at RM1.05 and RM2.25 today.
Source: The Sun Daily