Many investors in UEM World are mainly interested in UEM Land and this exercise will allow them to participate in a pure property firm, says UEM World managing director. UEM World Bhd plans to become a pure property company by spinning off its cement and drug-making businesses in a sale to its shareholders.UEM Land Sdn Bhd, its property unit that's overseeing Malaysia's biggest property project in Johor, will be listed while UEM World will be de-listed under its latest restructuring exercise."The exercise is carried out to provide the platform for further growth of our business. UEM Land in recent periods has increasingly become the driver for the share price of UEM World," UEM World managing director Datuk Ahmad Pardas Senin said in a media briefing in Kuala Lumpur yesterday.Read more
(New Straits Times 16-2-2008)
