UEM Sunrise shares flat on proposed land sale
21 Dec 2017 / 11:35 H.
PETALING JAYA: UEM Sunrise Bhd's share price was flat at RM1.05 this morning, after it proposed to dispose its 28.99-acre freehold land in Johor Baru to Kimlun Corp Bhd's indirect wholly owned Kii Morris Sdn Bhd for RM82.1 million.
At 10.45am, the stock stood at RM1.05 with 281,600 shares changing hands, bringing its market capitalisation to RM4.72 billion.
Kimlun's shares was unchanged at RM2.25 at 10.52am, with 2,000 shares changing hands.
Kimlun said the proposed acquisition provides an opportunity for the group to increase its land size in strategic location. It plans to build commercial properties on the land.