New high for Dagang NeXchange Bhd
KUALA LUMPUR: UEM Sunrise Bhd
is selling 4.9 acres of land in British Columbia, Canada for C$113mil (RM372.57) under its strategy to focus on the domestic market in Malaysia and to shift its international business focus to Australia.
The property company said on Monday its unit UEM Sunrise (Canada) Alderbridge Ltd was selling three parcels of land in New Westminister, Richmond, BC to South Street Development Group's unit 1107782 BC Ltd.
UEM Sunrise said the purchase consideration reflected the prevailing market prices of similar properties in the vicinity.
It explained the sale was to focuse on Australia where the UEM Sunrise Group has two ongoing projects and a third project currently in the pipeline.
“The move is expected to allow the UEM Sunrise Group to better focus itself in growing its operations in these countries,” it said.
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