PETALING JAYA: UEM Sunrise Bhd’s wholly-owned subsidiary UEM Land Bhd and indirect wholly-owned subsidiary, Nusajaya Heights Sdn Bhd has entered into two head of agreements with AME Elite Consortium Bhd’s subsidiaries Pentagon Land Sdn Bhd and Greenhill SILC Sdn Bhd for the disposal of 72 freehold industrial plots in Southern Industrial Logistics Cluster (SILC) Phase in Iskandar Puteri, Johor measuring 169.8 acres for RM434.4 million.
According to the group, the disposal is conditional upon the purchaser obtaining approval from their respective boards and shareholders as well as an approval from the Economic Planning Unit for the release of bumiputra restrictions on 34 bumiputra industrial plots.
It explained that UEM Sunrise has decided to collaborate with manufacturing plant and industrial part specialist, AME to develop SILC Phase 3 into an integrated industrial park development.
This allows the group to monetise the industrial park at a faster rate as compared to the sale of individual plots.
It revealed that the head of agreements will be valid for a duration of 30 days from the date or a mutually agreed extended date.
