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UEM Sunrise terminates all merger discussions with EcoWorld

UEM Sunrise Bhd has 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.

Source: EdgeProp.my

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