KUALA LUMPUR, Jan 13 — UEM Sunrise Edgenta TMS Sdn Bhd (UEMSET) and Township Management Services Sdn Bhd have formed a joint venture company (JVC) to provide integrated facilities management services for building owners and residents of Medini and Bandar Iskandar Puteri region.
Township Management Services Sdn Bhd is a wholly-owned subsidiary of Medini Iskandar Malaysia Sdn Bhd.
UEM Edgenta Bhd Managing Director and Chief Executive Officer Azmir Merican said UEMSET would hold a 70% equity stake with an initial paid-up capital of RM5.5 million while TMS would hold the remaining 30% in the yet to be named joint venture company.
“The JVC will allow each party to not only focus on their respective core business but, more importantly, collaborate and share resources in providing a holistic, end-to-end township management services,” he told a press conference after the signing of a joint venture shareholders’ agreement between both parties here Wednesday.
Azmir said the JVC would ensure business owners and residents of both Medini and Iskandar Puteri receive best services as both would be capitalising on each other’s expertise and adopt some of the latest technology the industry had to offer.
“In the second quarter of this year, the JVC will roll-out its services to UEM Sunrise’s properties in Iskandar Puteri region,” he said.
UEM Group Bhd is the common shareholder of UEM Sunrise and UEM Edgenta, holding a 66.06 per cent stake and a 70.68% stake, respectively.
UEM Group Bhd is a wholly-owned unit of Khazanah Nasional Bhd.
Azmir said the services would also be expanded to other developers in Medini.
The JVC’s services would be introduced in phases including integrated facilities management at common areas and building assets.
Under phase two, the estate management service would be made available such as road cleaning, landscaping, drain maintenance, waste collection, street light maintenance and pond maintenance while phase three would see the rolling out of security management services.
Medini Iskandar Malaysia Sdn Bhd Managing Director and Chief Executive Officer Khairil Anwar Ahmad said as the master developer of Medini Iskandar, the company had progressed from master planning in 2009 to the completion of all infrastructure for the 892-hectare estate in 2012.
It has now emerged as a developer in its own right focusing on the development of office and commercial space.
“We continuously strive to strengthen the Medini brand through various initiatives and our exciting partnership with UEMSET today definitely contributes further to our vision and aspirations to enhance the livability and attractiveness of Medini,” he added.