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PETALING JAYA: UEM Sunrise, the property arm of Khazanah Nasional, has received a letter of proposal from UEM Group Berhad for a merger with private property developer Eco World Development Group Bhd.
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Bursa Malaysia announced that UEM Sunrise’s board of directors received the letter from UEM Group on Oct 2, proposing for the two companies to merge through an exchange of shares and warrants.
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Eco World will subsequently be delisted from Bursa Malaysia. -FMT