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 November 2008.
UEM Builders is wholly owned by UEM Group, which in turn is controlled by Khazanah Nasional Bhd.-The Edge Financial Daily
NOTE: Reuters has not verified this story and does not vouch for its accuracy.
($1 = 3.3235 Malaysian ringgit)