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Eco World drops merger plan with UEM Sunrise
ECO World Development Bhd on Wednesday abandoned merger talks with UEM Sunrise Bhd, as its chairman Tan Sri Liew Kee Sin said the developer is seeking to pursue its own business plan.
He also cited the current challenging market condition and the re-implementation of the movement control order (MCO) as reasons for Eco World to continue on its own.
“The cessation of talks on the proposed merger will enable EcoWorld Malaysia to actively pursue other corporate proposals that may be more complementary to our present growth plans and strategies, ” Liew said.
The company, he said, remained open to the possibility of future collaborations with UEM Sunrise, should another opportunity arises.