Kuala Lumpur: Under a planned strategic partnership between the two firms, UEM Sunrise Bhd is selling 169.8 acres of industrial parcels in Iskandar Puteri to AME Elite Consortium Bhd‘s subsidiaries for RM434.30mil.
UEM Sunrise said on Wednesday that, in Phase 3 of the Southern Manufacturing & Logistics Clusters, it had signed multiple definitive agreements for the sale of 72 freehold industrial plots (SiLC). Pentagon Land Sdn Bhd and Greenhill SILC Sdn Bhd have signed the contracts.
Anuar Kasim, UEM Sunrise Chief Executive, Output Delivery and Commercial, said the sale would be the beginning of a strategic relationship between UEM Sunrise, Iskandar Puteri’s landowner and master developer, and AME.
AME Elite Consortium Bhd
AME designs specialised large-scale manufacturing plants and industrial park design and construction and development.
We are confident that this partnership with AME will be another catalyst for the Iskandar Puteri Masterplan for Development. Particularly in the acceleration of SiLC growth and development.
This will have a positive effect on Iskandar Puteri’s rapidly expanding township. It is also improving its living characteristics for the surrounding communities,’ said Anuar.
The deal will also generate new opportunities for business and employment in the area, he said. It also expects the promotion of a favourable economic climate to stimulate demand for the southern property products of UEM Sunrise.
It expects the sale to contribute gradually to the group’s earnings over the next three to four years. The company will proceeds the earning to channel into the strategic initiatives. Also, it is including new prospects for landbanking.
The construction of integrated industrial parks, of which SiLC forms an important component, is among the catalytic developments under the Iskandar Puteri Development Masterplan.
Furthermore, UEM Sunrise pointed out that, with SiLC phases 1 and 2 sold out, the partnership with AME would allow Phase 3 to be carried out more quickly. Because it will work with an industrial park specialist rather than many plot buyers.
According to the announcement, AME is committed to acquiring the balance of the SiLC Phase 3 industrial plots.