KUALA LUMPUR: UEM Land Sdn Bhd, the property development subsidiary of UEM Group Bhd, will be listed in September in a restructuring exercise worth between RM2bil and RM3bil, while UEM World Bhd, the listed investment holding company of the group, will eventually be delisted. UEM Group has a 51.9% stake in UEM World and 28.5% stake in UEM Land. The restructuring exercise would involve the non-renounceable restricted offer for sale (ROS) of UEM World’s shares in four listed subsidiaries to its (UEM World’s) shareholders. The company’s stakes in the four listed subsidiaries are Pharmaniaga Bhd (72.5%), Opus Group Bhd (62.2%), UEM Builders Bhd (51.7%) and Cement Industries of Malaysia Bhd (CIMA, 50.7%). Read more
(The Star 16-2-2008)
