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KUALA LUMPUR: UEM Sunrise Bhd
and its wholly owned units have entered into agreements with subsidiaries of AME Elite Consortium Bhd for the proposed disposition of 72 wholly owned industrial parcels measuring 169.8 acres in Iskandar Puteri, Johor, for a total of RM434.3 thousand
In the first agreement, UEM Land Bhd and Nusajaya Heights Sdn Bhd agreed to the proposed disposal of 69 industrial parcels to Pentagon land Sdn Bhd and Greenhill SILC Sdn Bhd for a total purchase consideration of RM416.1 thousand.
In the second, UEM Land and Nusajaya agreed to the proposed disposition of three industrial parcels to the Pentagon for a total purchase consideration of RM18.2 thousand.
UEM Sunrise and AME are collaborating to develop Phase 3 of the Southern Industrial and Logistics Clusters in Iskandar Puteri, where the land is located.
According to EMU, this will allow the group to monetize the industrial park at a faster rate compared to selling individual plots.
“Negotiations have started between the parties regarding the final agreements.
“Pending the conclusion of the negotiations, the parties agreed to document their intentions, as well as the highlighted terms that will be incorporated into the final agreements through the signed HOA,” he said.
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