Malaysian Resources Corp Bhd (MRCB), which is 38.9
percent owned by the Employees Provident Fund (EPF), is
exploring the possibility of acquiring UEM Builders Bhd to
strengthen its construction arm, said sources.
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 MRCB, which last month sold two
assets for nearly 1 billion ringgit ($300.89 million) to help
pare down debts of 2.9 billion ringgit, would be interested to
buy UEM Builders, which was delisted from Bursa Malaysia in
UEM Builders is wholly owned by UEM Group, which in turn is
controlled by Khazanah Nasional Bhd.-The Edge
NOTE: Reuters has not verified this story and does not vouch
for its accuracy.
($1 = 3.3235 Malaysian ringgit)