UEM Edgenta in facilities management JV

PETALING JAYA: UEM Edgenta Bhd’s unit UEM Sunrise Edgenta TMS Sdn Bhd (UEMSET) has formed a joint venture (JV) company with Township Management Services Sdn Bhd (TMS) to offer integrated facilities management.
In a filing with the stock exchange, UEM Edgenta said this includes building facility management services, security management services, estate management services and related services for building owners and residents of Medini and Iskandar Puteri (formerly known as Nusajaya) townships.
UEMSET and TMS will own a 70% and 30% stake in the JV entity, respectively. UEMSET is a wholly-owned subsidiary of UEM Edgenta and 30% owned by UEM Sunrise Bhd.
UEM Edgenta said the proposed JV is aligned with its strategic plan to extend and increase its presence in the asset & facilities management business, specifically property and township management services segment.
UEM Edgenta’s share price was down 7 sen or 2.05% to RM3.35 yesterday, with some 1.14 million shares changing hands.