UEM Group proposes merger of UEM Sunrise with Eco World

UEM Group Bhd has submitted a letter to the respective boards of UEM Sunrise Bhd and Eco World Development Group Bhd proposing that they consider and deliberate on a potential merger between the two companies.

Under the proposal, the merger will result in an enlarged UEM Sunrise, in which new shares and warrants will be issued in exchange for shares and warrants of Eco World. The board of directors and senior management of the enlarged UEM Sunrise will be led by a chairman who is an existing board member of UEM Sunrise.

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