UEM Sun­rise to sell 1.97ha in Canada

New Straits Times - - Business | News -

KUALA LUMPUR: UEM Sun­rise Bhd is dis­pos­ing of three parcels of land mea­sur­ing 1.97ha in Bri­tish Columbia, Canada, for RM372.57 mil­lion.

The move was made in its bid to con­cen­trate on the do­mes­tic mar­ket in Malaysia and shift its global busi­ness fo­cus to Aus­tralia.

The group said its unit, UEM Sun­rise (Canada) Alder­bridge Ltd, had en­tered into a deal with Cana­dian real es­tate de­vel­oper South Street De­vel­op­ment Group’s unit 1107782 BC Ltd.

The dis­posal is ex­pected to be com­pleted in the third quar­ter.

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