Friday, February 14, 2014


Sources say it is exploring the possibility of acquiring UEM Builders Bhd to strengthen its construction arm.

It is understood that MRCB has held preliminary talks with UEM Builders, the engineering and construction unit of UEM Group for a possible takeover.

It is unclear why asset rich MRCN, which in Jan 2014 sold two assets for rm1 billion to help pare down its debts of rm2.9 billion, would be interested to buy UEM Builders. UEM Builders is wholly owned by UEM Group, which in turn is controlled by Khazanah Nasional Bhd.

As at Dec 31 2013, UEM Builders’ accumulated losses were at rm599.99 million. However this was an improvement over the accumulated losses of rm635 million recorded in the previous year.

UEM Builders’ wholly owned subsidiary UEM Construction Sdn Bhd and its joint venture partner Bina Puri Sdn Bhd have been in the limelight in recent months due to the delay over the completion of KLIA2 in Sepang.

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