13 January, KUALA LUMPUR – UEM Sunrise Berhad (UEM Sunrise or the Company) has ended all discussions on the proposed merger with Eco World Development Group (Eco World) as announced earlier today.
The proposal for the merger of UEM Sunrise and Eco World 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 30 December 2020 that it will embark into the next phase, i.e. the formal process of due diligence.
Moving forward, UEM Sunrise will continue to focus on the implementation of its growth strategies to maintain its position as one of Malaysia’s leading property developers.
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.